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If anyone actually thought this was going to be successful, they were caught up in the biggest tulip-bulb delusion in the last 20 years. Melvin Capital may have

If anyone actually thought this was going to be successful, they were caught up in the biggest tulip-bulb delusion in the last 20 years. Melvin Capital may have lost a ton being caught off guard, but I bet they made all their money back shorting at the top. I said a few days ago that retail doesn't have enough power to make a real difference, and it was hedge funds and prop trader that were really moving the stock, especially when new highs were being hit. There's simply not enough money for retail to propel a stock like that. And now retail will lose all their money. Everyone on reddit claiming "Hold the line!" is likely those same hedge fund/prop traders trying to squeeze every dollar from these poor retail suckers.

JamesSwift 6y ago
It was _wildly_ successful. The goal posts of an exit were successfully moved several times in the course of the rise. From 100 to 200 to 300. Some of the initial traders successfully exited at the original meme price of $420.69. The fact that it was _so_ successful is why people even then began to beat the drum of a $1000/share exit. Even now the price has has settled around $90 which is probably at least twice its "fair" value of $20-$40. So yeah, some people purely chasing a hype lost but a lot of retail investors that had their finger on the pulse before the hype successfully called their shot and made it out the other end much richer than when they started.