How did they fuck up?
for gamestop, there are more shares of stock shorted than actual shares in existence.
with shorts, eventually you have to buy the stock, certain calls or puts have deadlines to that.
I’m talking about the 10-20 most shorted stonks.
If anybody needed proof that the market is all a shell game I guess this is it.
Way back pre internet days, wasn’t the stock of a company actually related to some underlying fundamentals? Seems like there’s a big disconnect today between company performance and stock price. Just legalized, government approved casino gambling now.
It’ll be a good thing if a bunch of normal people get rich and fuck the hedge funds.
Just sold my AMC.
Ah.
This seems illegal.
Lol, no thanks, I’ll stick with my retirement index funds, thank you very much. You cool kids with your bitcoin and your tik tok are too complicated for me.
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It’s completely predatory for these hedge funds to short a stock into oblivion, and I think it’s a riot that they got caught with their pants down.
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I suspect it’s illegal if like, one person does it and directs others to do it. I suspect it’s not illegal if everyone just does it collectively.
Lol, fair enough. I mean, isn’t the solution to all this to get rid of naked shorting? Wasn’t that a proposal at one point?
I can’t even think of a way for these hedge funds to get bailed out but I’m sure they’ll try.
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enough of them fail to cause a financial crisis would
WSB is pushing AMC
i think basically the gist is, if you are doing it like this in public, in a collective, then you are generally ok…
but im sure this will be changed very quickly once these hedge funds weather this and then start squeezing their bought and paid for politicians.
They weren’t before, it’s not in WSB’s posts for the most part that I can tell.
One person did it and directed others to do it. That’s pretty much exactly how this got started.