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https://lbry.tv/@rossmanngroup:a/why-mainstream-media-s-slander-of:c
Great explanation of what's really going on re: GameStop.
tl;dr: a bunch of short sellers screwed up by selling more than 100% of the stock that actually exists. They're on the hook for that, and they have to buy it back.
Under this circumstance, buying GameStop stock *is* economically rational. Risky however, because the rules can change...
...and that's why there is a massive media campaign against Wall Street Bets right now. To get the rules changed.
@pete So what's up with the over 100% being shorted? Who "allowed" that? Surely it's not the companies shorting it? If I go to a broker and say "ay yo lend me some of your $GME imma short it" how come he's able to do that with the 101%th share?