Posted on 01/28/2021 10:44:56 PM PST by nickcarraway
Jon Stewart was prompted to join Twitter on Thursday to defend the renegade Reddit traders who turned Wall Street upside down this week.
The former “Daily Show” host hit back at critics of the rogue day traders who used WallStreetBets to send GameStop’s stock skyrocketing in defiance of large hedge funds shorting the business.
“This is ********. The Redditors aren’t cheating, they’re joining a party Wall Street insiders have been enjoying for years,” Stewart tweeted.
(Excerpt) Read more at nypost.com ...
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I’m skeptical of the media narrative that this is casued by Redditors.
It was caused by the hedges overshorting the stock. The Redditors just figured it out and were able to take advantage before the hedges realized what was going on. Tomorrow is going to be nuts.
Have you ever considered that another hedge fund or funds were involved?
They all sleep in the same bed so no, it’s really not possible. This has exposed a huge scam these hedge funds have obviously been running for a long time. They just got exceedingly arrogant and greedy with gamestop. If these were legitimate accountable short sales, how did they manage to borrow and sell 40 percent more shares than actually existed? The answer has to be these are sham transactions to start with, it’s fraud on a massive scale.
I was a bit skeptical as well at first, but at this point they have the mindshare to move markets. If I thought I could spend $500 - $1000 and completely destroy some of these bottom feeders that exist to game the system and undermine it's fundamentals, I'd be totally willing. I wish I'd heard of this when it started and jumped on board. My exposure would be the $500 or whatever. I can dump that in a casino in an evening. The pleasure I've taken in reading about this whole thing would have been worth the loss of every dime. Those hedge funds that are short have unlimited exposure. This entire thing was brilliant.
I hear they are going to try to run up silver a bit next. It may or may not work. If it does, I have several pounds I'll unload when my Sell price is reached.
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