<p><img src="https://static1.businessinsider.com/image/6013f0456dfbe10018e00abb-2000/AP21028651118264.jpg" border="0" alt="gamestop store" data-mce-source="John Minchillo/AP"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>The Wall Street Bets Reddit forum that orchestrated the massive surge in <a href="https://markets.businessinsider.com/stocks/gme-stock">GameStop</a>'s stock last month is standing firm despite its tumbling stock price.</p><p>On January 11, members of r/WallStreetBets <a href="https://www.insider.com/wallstreetbets-reddit-history-gme-gamestop-stock-dow-futures-yolo-2021-1">rallied together to buy shares in GameStop</a>, a failing electronics company <a href="https://www.businessinsider.com/gamestop-struggling-pandemic-stock-market-video-games-2021-1">that surged back during the pandemic</a>.</p><p>GameStop's share price reached a peak of $483 last Thursday, but since then <a href="https://markets.businessinsider.com/news/stocks/gamestop-amc-stock-price-reddit-short-squeeze-fades-traders-2021-2-1030032959">it has crashed</a>, falling 67% on Tuesday following a 31% decline on Monday.</p><p>On Tuesday, the Reddit user DeepFuckingValue, who helped lead the effort, <a href="https://www.reddit.com/r/wallstreetbets/comments/lb6jld/gme_yolo_update_feb_2_2021/">posted</a> that his holdings had depreciated by $13.6 million overnight.</p><p>The coordinated stock buy saw several hedge funds lose major capital. Melvin Capital, one of the biggest short sellers of GameStop, <a href="https://markets.businessinsider.com/news/stocks/melvin-capital-lost-53-percent-january-after-gamestop-shares-skyrocketed-2021-1-1030023191'utm_source=markets&utm_medium=ingest">lost about 53% of its assets</a> in January.</p><p>GameStop's stock is expected to plummet further when markets open at 9.30 a.m. ET on Wednesday, but as of 5 a.m. ET, almost all the top posts on r/WallStreetBets indicated that members were not ready to call time.</p><p>The most popular post with 32,000 upvotes <a href="https://www.reddit.com/r/wallstreetbets/comments/lbg8em/no_matter_what_comes_through_that_gate_you_will/">was a meme of the assault on Minas Tirith</a> from the 2003 film "The Lord of the Rings: Return of the King," which was titled: "No matter what comes through that gate, you will stand your ground!"</p><p>"Who of my 300 brethren's [sic] are still in'" asked the second top post, <a href="https://www.reddit.com/r/wallstreetbets/comments/lbjgc6/who_of_my_300_brethrens_are_still_in/">displaying a graph showing GameStop's plummeting share price</a>, in a reference to the 2006 film "300."</p><p>In the film, a small group of elite Spartan warriorspresumably a metaphor for those with shares still in GameStopfight valiantly against an invading Persian army, but who ultimately die in a brutal fashion.</p><p><img src="https://static4.businessinsider.com/image/601403a01d2df20018b7184e-2400/2021-01-28T203616Z1413161458RC28HL9HFECBRTRMADP3RETAIL-TRADING-SLANG.JPG" border="0" alt="WallStreetBets logo" data-mce-source="REUTERS/Dado Ruvic/Illustration/File Photo" data-mce-caption="Wall Street Bets users have driven up the GameStop stock price"></p><p>The <a href="https://www.reddit.com/r/wallstreetbets/comments/lbdz2e/at_this_point_i_just_want_to_prove_everyone_wrong/">third-most popular post, with 31,000 upvotes</a>, said: "I'm not worried about the losses these past couple days, because I know what's going to come if we stay strong ... Hang in there brothers."</p><p>Another top post, with 29,000 upvotes, shared advice from the billionaire investor Mark Cuban who recently advised GameStop investors to practice "patience" and <a href="https://www.bloomberg.com/news/articles/2021-02-02/mark-cuban-tells-wallstreetbets-to-hold-if-you-can-afford-to">"hold if you can afford to."</a></p><p>"Take it from MARK F---ING CUBAN. Don't panic sell and hold that s---," <a href="https://www.reddit.com/r/wallstreetbets/comments/lbaez9/take_it_from_mark_fucking_cuban_dont_panic_sell/">the post said.</a></p><p><em><strong>Read more: </strong><a href="https://www.businessinsider.com/stock-market-in-new-liquidity-bubble-carson-block-gamified-trading-2021-2">Famed short-seller Carson Block says a new type of liquidity bubble is feeding the wild swings in day-trading favorites like GameStopand warns that stocks have become a fragile 'game'</a></em></p><p>One of the forum's most successful GameStop-related posts, with 150,000 upvotes and titled "WSB right now," <a href="https://www.reddit.com/r/wallstreetbets/comments/lb8jtk/wsb_right_now/">shows Randy Marsh from "South Park" refusing to give up a losing fight</a>.</p><p>"I didn't hear no bell," Marsh says.</p><p>In another case, one Redditor shared <a href="https://markets.businessinsider.com/news/stocks/gamestop-amc-stock-price-reddit-short-squeeze-fades-traders-2021-2-1030032959">an Insider article</a>, titled "GameStop and AMC plunge by more than 50% as Reddit short squeeze begins to fade."</p><p>"These m---------ers WISHED that we were failing to hold the line," the member <a href="https://www.reddit.com/r/wallstreetbets/comments/lb7jtd/these_motherfuckers_wished_that_we_were_failing/">said</a> in response. "Bought 15 more shares @ 112 WHAT A SALE!"</p><p><a href="https://www.businessinsider.com/wallstreetbets-redditors-defiant-amid-gamestop-stock-crash-2021-2#comments">Join the conversation about this story »</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/racist-origins-marijuana-prohibition-legalization-2018-2">The racist origins of marijuana prohibition</a></p>
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