Wall Street-cels Be Seething Over Short Squeeze-chads As Bed, Bath & Beyond Meme Stock Soars
The stock for Bed, Bath & Beyond – whose ticker symbol is the kind of adorable $BBBY – is up over 60 percent today after official Wall Street analysts rated it as a good short sell and the apes on Reddit’s WallStreetBets subreddit smelled tendies.
Jim does it again$BBBY +180% since, just 1 week ago pic.twitter.com/yyZRUH0jBJ
— Inverse Cramer ETF (Not Jim Cramer) (@CramerTracker) August 16, 2022
$BBBY is up over 53% today and has already been halted this morning pic.twitter.com/qtSUUWLmBh
— Market Rebellion (@MarketRebels) August 16, 2022
Like with GameStop last year, retail investors are pulling a short squeeze, meaning a bunch of official Wall Street people have bet the stonk is going to go down, and so Wall Street Bets is making the meme stock go up in order to trap them and all of their money inside that bet. So far, it seems to be working.
I'm just laughing my ass off as $BBBY exploding higher after initial big move stalled. "Smart money" dumped all over the name for the last few days thinking the jig was up. I'm not long (doing well with my own stuff) I just love a good comeuppance story. #DontHateThePlaya
— Charles V Payne (@cvpayne) August 16, 2022
$BBBY looking ready to 🚀 https://t.co/R5RQySZlED pic.twitter.com/KziEI5k4RP
— M (@M_oass) August 15, 2022
Joy and exultation filled the subreddit amid the development, with users posting many memes celebrating their gains.
As always, the Wall Street Bets people cultishly encouraged others to keep buying of the meme stock, while also grieving the money they had let slip through less-than-diamond hands in the past.
The occasion led some to reflect on the subreddit’s history as a disruptive and powerful player in the stock market, which became a massive viral story early last year as some both celebrated and demonized the Reddit retail investor community. Whatever the subreddit is, it seems to be here to stay.
In particular, one user’s promise to eat an entire watermelon (rind and all) if $BBBY topped a certain price received much attention.
The watermelon thing is a running gag on the subreddit, featured in the banner image and in a variety of posts such as this one:
As suit-and-tie Wall Streetcels be seething over Shortsqueezechads, expect the meme stocks to continue surging and making waves online.
Share Pin
Chewybunny
Won't someone PLEASE think about the Billionaires in Financial Firms?
/s
Phhase
Hehehe. Make those bleeders weep!
A Concerned Rifleman
I love this new trend of sniffing out short-squeezes and then dogpiling it. Short-squeezing is the stock market equivalent of putting out life insurance on someone else.