๐Citron Research, a notorious GameStop short seller, has waved the white flag and exited its short position. Not because they believe in a GME turnaround, but because the market's "cult-like" behavior is too wild to predict.๐คทโโ๏ธ
๐GME's stock price has soared above $30 after a 22.8% intraday rally on Tuesday. Despite Wedbush setting a bearish $11 target, Citron respects the market's irrationality. After all, Dogecoin is still a $20 billion entity.๐
๐ฎDuring the retail investor-fueled short squeeze, GameStop raised $2.14 billion by selling 75 million shares. This coincided with Roaring Kitty's first live stream in over three years, which further boosted GME's price.๐
๐Citron criticized Roaring Kitty's live stream as "an insult to capital markets." But hey, who are we to judge? Let's see how this wild ride unfolds from the sidelines. What's your take on this? Share in the comments below! #DeFi #Web3 #Technology