Having written extensively lately on the current events occurring in the stock market with many wall street hedge funds such as Melvin Capital and Citadel getting their short positions assaulted by masses of individual traders gathering through the /r/wallstreetbets subreddit, I must say it has been an extremely funny and entertaining week to say the least.
Even reading about how Robinhood app decided to unilateraly deny its customers the ability to buy stocks from AMC, GAMESTOP and others shows how deep in trouble wall street investors got during the biggest loss the financial markets have been hit with since the 2008 market housing crash.
Now, Coinmarketcap has decided to provide some wonderful jokes around WallStreetBeets(WSB) for everyone to see. If you enter CMC website you will probably see WSB as the first coin topping the charts with a marketcap of 24$ billion.
Once you click to see what kind of new cryptocurrencies this is, you find out they are just having a laugh with the entire situation.
Please note that this is a JOKE- NO SUCH ASSET exists. All UR MeMes R belong to us and Charmander-marth!!!!!111. We seek alpha and master beta. If you see similarly-named projects, please perform the requisite due diligence and do not ape into anything associated with this page.
And below that we can read:
WE SEEK ALPHA AND MASTER BETA!!!!11 La-li-lu-le-lo. Are funds SAFU or SNAFU? Is Bitcoin your safeword?Here is the tl;dr of the $GAMESTONK 2 STRONK SQUEEZE - When your broker is as reliable as a Cyberpunk 2077 launch day patch, does the GAME have to STOP? #cwutididthere
Following on with new WSB posts we can see many are still buying and holding their positions even after GAMESTOP price dropped towards 92$ from previous ATH at 420$. As Donald J. Trump used to say, "THE BEST IS YET TO COME". So sleep safe and sure knowing this is not the end of this short squeezes, expect more to come and bigger losses, especially if JP Morgan or Goldman Sachs are caught in a Silver squeeze. Anyways, just wanted to share my personal opinion about current situation with GAMESTOP and after watching this Coinmarketcap joke decided to share it with the Leo finance community. Keep safe everyone!