GameStop ($GME) Collapse ImminentNYSE:GME showing signs of major technical distress.
This whole meme thing had to end somewhere. At the end of the day, that was easy money for anyone looking to make a quick buck.
Just ask yourself, if you controlled tens of millions of shares at 25X their average historical trading range, why would you hold that?
And that's exactly what has been going on for the last several years. The weird thing is that it lasted so long and seemed to have a dedicated following. After all, a movie was made about the whole phenomenon (I never saw the movie).
This thing likely goes very quickly on the break.
