Posted on 01/29/2021 6:14:31 AM PST by Kaslin
My understanding is the GME was unpopular with Big Tech as they provided a market for used tech games. This allowed users to trade rather than always buy new.
The article misses a couple of points. It fails to explain that Hedge funds gang up on this shorting and in essence decide a death sentence type short. Additionally they miss telling the truth about illicit “naked” short selling. Where the stock isn’t really borrowed making a short sale more a snowball down hill.
Bfl
Given that one of the lead Gamestop “little guys” is a highly paid tech worker who had $50,000 to throw at Gamestop stock that he was not worried about losing, it is really hard to not laugh at the “Rich vs poor” or “elite vs populist” picture being drawn.
This is much more like a simple anarchist fight, people who want to burn down systems because they like fire.
I’m not convinced short sellers are the “bad guys”. Anybody betting on failure is seen in a negative light, obviously.
Call me crazy, but I think this is going to spread and pop the market. P/E has been ridiculous for 20 years.
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