some guys were literallytweeting things like, i don t care.i m yolo-ing my life savings. and almost like a badge of honor that they wouldlose their money. i mean, there was a craziness.it can t last. it s not the way the worldworks. there s not a goodenough story, not a good enough mytharound gamestop that it will be a long-term,sustainable game. and the original guys probablysold and made a lot of money. what was so scary to me, thebulk of the people that are participating in thisrevolution aren t investors. they re along for the ride and they relistening to their friend. in all likelihood,it will end ugly. matt kelly:i talked with my wife about like there s a reallystrong feeling that this can goto $1,000 a share. this whole thing, we can go to $1,000 a share
i know that if we gathertogether, there s a point here at whichwe can really push against hedge funds enoughto force them to cover. we can force the market. we can forcethis stock higher. - all these short sellersbuying back their position drives the stock higher and squeezing outall the short players from the market.that s a short squeeze. - you ve got to bereally greedy to keep shorting gamestop when it was at like $6a share or something. because that means if you reshorting at $6 a share, you re only profitingif it goes below $6. it was a post by jeffamazon, where he kind of laid outthe gamestop thesis. - i wrote this post called the greatest short burnof the century. my brother, who s an actor,is going to come
you can go to twitter.you can sign on. you can call me everyname. if you want to savethe company, take your energy, go out there,and actually buy something from gamestop. - andrew leftof citron research. reactions, desk? - [humming wolf of wall street money chant] [music - wolf of wall street money chant] a day after left postedthat video, gamestop went from $43to $65 a share. [music continung] in addition to that,ryan cohen joined the board. reporter: shares of gamestopsoaring after announcing chewy former ceo ryan cohen. - cheers to ryan cohen.this is sick. reporter:stock, an unbelievable jump,60% high today.
robinhood stopped trading.you need to sell. you need to take profits. reporter:robinhood and other online brokerages blocked usersfrom buying shares of gamestop and other shortedstocks. - that morning, i woke up tolike minus $10,000 or $15,000. and i was like, yeah, this isthe toughest hit i ve ever had. reporter: these sitessuddenly allowed users only to sell their positions,not to get new ones. reporter:robinhood put out a statement, quote, in lightof recent volatility, we are restrictingtransactions for certain securitiesto position closing only, which meansyou can only sell it. - if you can only sell stocks, then those stocksonly go down. matt kelly: i go to work.and i m standing there. i m givinga presentation, right? i m on a zoom meetingwith 100 people. and the price drops to about120 bucks a share. i m like in the middleof a word. and i look downand i see that and i just went i just freeze. i stopped.i m sick to my stomach.
a day after left postedthat video, gamestop went from $43to $65 a share. [music continung] in addition to that,ryan cohen joined the board. reporter: shares of gamestopsoaring after announcing chewy former ceo ryan cohen. - cheers to ryan cohen.this is sick. reporter:stock, an unbelievable jump,60% high today. reporter:citron and andrew left, those guys thinkit s going to $20. - pretty obvious whatthe price target is right now, right? i mean, it s almost certainlygoing to $420.69, right? [laughs] kidding. am i? [music playing]