From what I've read on r/wallstreetbets is that you have until FRIDAY to buy gamestop stock because it'll keep rising until then as the buying frenzy continues. Friday (specifically the last friday of the month) is when stock shorting contracts come to a close and when the billionaire hedgefund managers who are losing money on this will have to pay up.
Ofc, Wall Street might do some bullshit and have the market shut down by then, so who knows.
Otherwise, once everyone who got 10x ROI cashes out on friday, they'll have so much cash that they can then move on into all the other mass shorted stocks and have the same thing happen all over again!
It's the financial equivalent of saying FUCK YOU to the elites as Trump winning the presidency in 2016
EDIT: the reason GME stock is the big one is because they shorted MORE than 100% of the available stock (because they're greedy fucks) and assuming the gov't doesnt actually stop this whole thing, tomorrow the price WILL go up (probably to $1k+/stock). So if you're feeling like gambling, try to buy some stocks before the market opens. But what the fuck do i know, I'm just someone on the internet.
EDIT 2: Reddit user DeepFuckingValue bought 50k of GME stock ages ago when it was pennies and now has over $50m in share capital and STILL hasn't sold. Dude will need legit protection if/when the elites come after him.
TLDR: Massive institutions shorted it REAL hard, meaning they have to buy ~$1B worth of it on Friday. Wallstreetbets decided they should buy a boatload of it and pushed the price way up, both as a way to make a lot of money and to screw over the hedge funds. Other people saw it skyrocket and wanted to get in on it. Other hedge funds who shorted it only a bit are buying stock to cancel out their shorts, pushing the price even higher. Nasdaq, robinhood, etc are all limiting transactions now because they're spooked. If you haven't been in for several days already I advise not touching it because chaos is coming for it this weekend.
From what I've read on r/wallstreetbets is that you have until FRIDAY to buy gamestop stock because it'll keep rising until then as the buying frenzy continues. Friday (specifically the last friday of the month) is when stock shorting contracts come to a close and when the billionaire hedgefund managers who are losing money on this will have to pay up. Ofc, Wall Street might do some bullshit and have the market shut down by then, so who knows.
Otherwise, once everyone who got 10x ROI cashes out on friday, they'll have so much cash that they can then move on into all the other mass shorted stocks and have the same thing happen all over again! It's the financial equivalent of saying FUCK YOU to the elites as Trump winning the presidency in 2016
EDIT: the reason GME stock is the big one is because they shorted MORE than 100% of the available stock (because they're greedy fucks) and assuming the gov't doesnt actually stop this whole thing, tomorrow the price WILL go up (probably to $1k+/stock). So if you're feeling like gambling, try to buy some stocks before the market opens. But what the fuck do i know, I'm just someone on the internet.
EDIT 2: Reddit user DeepFuckingValue bought 50k of GME stock ages ago when it was pennies and now has over $50m in share capital and STILL hasn't sold. Dude will need legit protection if/when the elites come after him.
Can you ELI5 even more about what is happening... you sound informed and not angry.
TLDR: Massive institutions shorted it REAL hard, meaning they have to buy ~$1B worth of it on Friday. Wallstreetbets decided they should buy a boatload of it and pushed the price way up, both as a way to make a lot of money and to screw over the hedge funds. Other people saw it skyrocket and wanted to get in on it. Other hedge funds who shorted it only a bit are buying stock to cancel out their shorts, pushing the price even higher. Nasdaq, robinhood, etc are all limiting transactions now because they're spooked. If you haven't been in for several days already I advise not touching it because chaos is coming for it this weekend.
Friday is not a cutoff, that is a myth being pushed around