Ordinary people are being manipulated. There is no way this stock is worth $200 a share. Someone is going to make a fortune short selling this stock. Everyone else is going to go broke.
It’s Melvin Capital who is going broke. He had a short position at $20, now it’s $200+
Too bad. Plotkin is going to have to sell his Miami mansion he bought in Demember.
Several hedge funds have lost several fortunes shorting GME.
Many ordinary folks have already secured fortunes going long GME.
According to regulators only the reverse is legal.
No, autists on Reddit and gab and other sites are collapsing a hedge fund that shorted their beloved GameStop. It has now become a cause celebre - and Elon Musk has joined the fun. Fascinating and hilarious overnight development that was so entertaining to watch in real time.
I went in yesterday for a whopping 6 shares. I doubled my money in less than a day. Then I bailed.
Of course it’s not worth that much. That isn’t the reason for this—this is an “insurrection” against the Wall Street folks who think they can manipulate the price discovery on the market.
It is a healthy and small slap in the face to the establishment.
I'm hearing that the naked shorts and naked puts account for more than the amount of shares in existence. If that is true, then unwinding their positions when faced with a margin call will be expensive.
It’s ordinary people deliberately crushing Hedge Funds, and it’s glorious. I can’t wait until they declare this financial terrorism because ordinary people extracted billions of dollars from Wall Street for once.