Summary:
- Justin Sun is officially part of the WallStreetBets community
- He has pledged $10 million towards buying Gamestop (GME)
- Mr. Sun had initially pledged $1 Million worth of Gamestop (GME)
- The WallStreetBets community is now very much interested in Tron (TRX)
The Founder of Tron (TRX), Justin Sun, has just pledged to buy $10 million worth of Gamestop (GME) stock tonight to assist the WallStreetBets community in ‘squeezing out those greedy hedge funds’. Mr. Sun made the announcement via Twitter where he requested the over 4 billion Asian community and over 20 million Tron community members to support r/WallsStreetBets and their cause.
Just Sun’s tweet making the pledge to buy $10 million worth of Gamestop (GME) stock can be found below.
$1 Mil doesn’t seem enough, I’ll be buying $10 Mil $GME instead tonight from Asia when market opens! It’s time to unite & squeeze out those greedy hedge funds! Wallstreetbets, 4 billion Asian community & 20 mil $TRX community supports u! Let’s do this! 💪🏻@WSBChairman @wsbmod pic.twitter.com/d494a77RNq
— Justin Sun 🅣🌞 (@justinsuntron) January 29, 2021
$1 Million is Not Enough for Justin Sun
As stated above, Just Sun had initially pledged to buy $1 million worth of Gamestop (GME) via a earlier statement that can be found below.
I’ll be buying $1 Mil of $GME tonight from Asia when the market opens! Wallstreetbets community know that over 4 billion Asian community & 20 mil $TRX community are behind you! Watch out, Asians are coming!
Tron’s (TRX) Value Increases to $0.04437
Since Justin Sun made public his intention to join the r/WallStreetBets community, the value of Tron (TRX) has pulled a Dogecoin-like pump from $0.0288 levels to a local high of $0.04437. This is a massive 54% increment in less than 24 hours. The value of Tron (TRX) has since corrected to its current levels of $0.034 as can be seen in the chart below.
Gamestop (GME) Bounces Back Above $300
With respect to Gamestop (GME), the stock has experienced an impressive bounce to $415 from yesterday’s low of $107. At the time of writing, Gamestop is trading at $337 in what looks like a display of defiance as multiple Wall Street brokerage firms halt trading of the GME stock.
Furthermore, the r/WallStreetBets community has branched out to other social media platforms such as Telegram and Twitter thus expanding the reach of their mission to liquidate Hedge Funds. Therefore, the current price action regarding Gamestop (GME) might become a ‘financial battlefield’ between retail traders and hedge funds.