So a bunch of people online found out that there was a major hedge fund company who shorted Gamestop. They all got together and decided to short squeeze this hedge fund company(Melvin Capital, for those who are curious). Basically, everyone started buying up Gamestop stock and more people who saw this viral post on social media got in on the deal too so now Gamestop shares are soaring up to record highs.
My questions is, wouldn't those who own Gamestop shares before this squeeze want to sell now before it drops back to nothing? Heck, if I owned shares, I'd get rid of them now.
Obviously, the prices will drop when people start panic selling. Also, if you short them now, you'd probably make a fortune in easy money.