$GME Gamestop and other shares have been the subject of much market interest over the last weeks. With Redditers from @r/wallstreetbets holding the company up while hedge funds performed short ladders on the stock.

Robinhood stopped trading on the stock during the massive rally, one hedge fund, Melvin Capital nearly went bust after they took a short position on the stock and were bailed out to the tune of 2 Billion. Way more than @ElonMusk invested in Bitcoin (Elon was criticised quite heavily and yet I see no criticism of the hedge funds, hopefully, that will come very shortly).

Executives from the firm plus Citadel Securities and Melvin Capital are due to testify before a House panel at a hearing on February 18th. To explore the activities of each group.

I’m still holding my $GME/Gamestop stock I bought at around 100 and I’m at a loss at the moment, but I’m hoping the results of the hearing and future investigations will cause a bullish move in the stock. However, I would like to see the company grow on its own merits. I think as a long term trade it should be a good investment as we come out of covid. Plus there are enough Redditers holding the stock now to keep it around the level it’s at.

I hope the Panel will have teeth to deal with the unfair and sometimes illegal (ladder trading is technically illegal), practices of big hedge funds.

My congratulations to all the retail traders that moved the stock market. Stay strong.

https://www.ukbitcoinblog.com/general-info/gme-gamestop-the-story-is-far-from-over/