It may seem like ancient history now, but back in January the great WallStreetBets short squeeze was all the rage, having sent heavily shorted meme stocks like GME and AMC to unprecedented heights as millions of retail daytraders used their Robinhood account to pile on and buy in wave after seemingly endless wave in the process crushing reputable hedge funds such as Melvin Capital which needed multi-billion capital infusions to avoid being margin called to death.

AMC Entertainment ( NYSE:AMC), the erstwhile distressed movie theater chain that has seen a dramatic reversal in fortunes amid a mind-boggling retail-driven stock price rally, continues to inflict crippling damage on its detractors. Against this backdrop, the hedge fund Odey Asset Management has emerged as one of the most prominent casualties in recent times as AMC Entertainment shares maintain their inexorable upward trajectory.

Markets were sent into yet another frenzy of activity today as hundreds of thousands of Robinhood and TD Ameritrade (UPDATE: WeBull, which many RH users were migrating too, has also halted new positions in these stocks) users woke up to find these brokers were no longer allowing any further trades on GameStop ($GME), as well as other notable 'meme' stocks like AMC ($AMC), BlackBerry ($BB), and Nokia ($NOK) as well as cryptocurrency Dogecoin which also started to take off late last night (UPDATE: WeBull, which many RH users were migrating too, has also halted new positions in these stocks).

Party like it's 1999... "There's nothing in this world, which will so violently distort a man's judgment more than the sight of his neighbor getting rich," JP Morgan, After the Panic of 1907 Peak Price to Sales Ratio Tech in 2000 CSCO Cisco: 31x QCOM Qualcomm: 29x MSFT Microsoft: 25x INTC Intel: 14x Renewables in 2020 PLUG Plug Power: 52x NIO Nio Inc: 30x ENPH Enphase Energy: 29x TSLA Tesla: 19x Renewable froth, memories of the dot-com boom.