GameStop army trolls Wall Street with billboards and plane banners boasting about profits: 'We’re not leaving'
Redditors who had bought GameStop stocks advertised in billboards and even plane banners that they are not going to back down from their investments. These ads were paid for by their investment cash. "$GME GO BRRR," read a digital billboard in New York City, with brrr meaning the sound of a money-printing machine. After increasing the stock value of GameStop and forcing the short stock traders into backing down and selling their stocks at prices much higher than they could have possibly expected, the US retail traders have shown their power by joining forces and squeezing short traders to either give in or suffer huge amounts of losses.
The West Coast joined in the gloating with an airplane flying over Santa Monica reading, "WE ARE ALL GAMESTOP WALLSTREETBETS." Another banner from a plane in San Francisco read: "SUCK MY NUTS ROBINHOOD," according to The Sun. Another digital ad was seen in Oklahoma reading "We’re not leaving! GME."
So when trading with GameStop among other companies turned volatile, traders such as Webull and Robinhood, among others, had stopped their members from trading in GameStop stocks. Of course, the Reddit traders' attention then fell onto Dogecoins, a cryptocurrency firm that was started as a joke by two coders who even used the dog meme as their logo. This has, of course, excited the individuals who owned Dogecoins because now, the cryptocurrency that they had mined for fun was of monetary value, and the value continued to increase.
Following this, traders on Reddit are gloating over their stock gains and also promise to not back down. They are here to stay and that is exactly what their billboards said as well. They have resulted in short-seller losses totaling about $19B, according to media reports.
A member who bought the billboard space in Time Square, New York, shared it on Reddit which has since gone viral.
Under this video, there are hundreds of comments where members ask each other to hold the line in the hopes of doing more damage to the rich. This war against short sellers on Wall Street has caught the attention of traders across the world, even in countries where shorting is not allowed.
The hatred for hedge funds is also growing in the comments section. One of the members replied to another, who called out fresh redditors with no experience giving "level-headed advice" regarding short squeeze not being a simple task and said, "Yep. So far a quick profile audit reveals these posts are coming from fresh af accounts with no history OR history of pro-hedge comments. These fucks only think they know how to Reddit. Uproot the hedges with those diamond hands, boys. Of course this is gardening advice from someone who eats only the finest leaded paint chips."
One user wrote about how the short squeeze is yet to take place. "The short squeeze has not happened. The Gamma squeeze started Thursday, but it was illegally shut down by Melvin, Robinhood, and dozens of other brokers who stole billions from GME stockholders." Another member also said that despite the $19 billion loss that short sellers have suffered, it would be hard to see a change in Wall Street, at least one that matters. This member also wrote that all Reddit traders have done now is to gain Wall Street's attention.
This member wrote, "It's got their attention. This has exposed the messed up plumbing behind these free trading apps. It all leads back to hedge fund funding, clearing houses, timing, etc. so it's at least been a teachable moment: there's no such thing as a free lunch, especially when the financial plumbing on wall street can't handle everyone shitting in the same pot."
So the general consensus is to hold the line and not sell GameStock and continue to trade in other stocks.