To: freedomjusticeruleoflaw
Seems like the Reddit chat group threw a monkey wrench into the corrupt system by getting a lot of people to buy stocks that have been short sold. The short-selling corrupt people are then stuck and can't make a profit, in fact they lose a lot.
The part I don't understand is how they get people to buy a stock. I guess it doesn't matter, they did get the job done.
24 posted on
02/01/2021 4:53:39 AM PST by
\/\/ayne
(I regret that I have but one subscription cancellation notice to give to my local newspaper)
To: \/\/ayne
The part I don't understand is how they get people to buy a stock. When they first short the stock, they are hoping that there are buyers in the market at the current price. The GameStop stock has an average daily trade volume of several million shares, so there's always buyer activity.
When it comes to buying back the shares they are short, the short traders themselves are compelled to buy.
-PJ
50 posted on
02/01/2021 5:28:30 AM PST by
Political Junkie Too
(Freedom of the press is the People's right to publish, not CNN's right to the 1st question.)
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