So if we are going to highlight one point — and I think this is absolutely the most-important point — is what Citron Research did. So first off, let me confess. I have gone on WallStreetBets, I’ve perused the platform. I find it amusing, informative, entertaining — all of the above. I feel a little bit unclean when I walk away, but I typically walk away laughing.
You know, there, I think, is this feeling of ‘us versus them’ on WallStreetBets that’s really come to the surface now. You know, we are the small and uninformed, but some of the people on that platform are really smart. We’ve got doctors, lawyers lurking on that platform. I’m sure fund managers are lurking on that platform too.
Citron’s so important because of this whole ‘us versus them.’ Citron came out and said, ‘we’re going to publish a research report about why GameStop should be going to $20.’ And this was when it had surged up to about $40 or so. When people on Wall Street saw that happen, and even though the stock had already made a very significant run, it just felt like another one of those ‘the-big-guy-is- trying-to-screw-me’ type moments, and it sent the price down temporarily.
I tweeted about it and I called it a strategic blunder. I have no evidence, but if we were to believe that some of the big short hedge-funds contacted Citron, which again, speculating that was a strategic blunder on their part to, to put out a message from a party that is despised on WallStreetBets and knowing the amount of energy.