Hedge funds borrowed and sold almost 140% of gamestop stock. So at some point they have to buy the stock back to return it to the owners......but supply and demand. They borrowed and sold more stock than exists, so people jumped in to buy the stock and just sit on it.
Hedgefunds HAVE to buy the stock back, but no stock is available making the price go up and up. Now every one is sitting back and laughing at the wall street scum as they slow roast.
So far they are down $310 for every single stock they shorted since Jan 1st
Quick and dirty explantion
Hedge funds borrowed and sold almost 140% of gamestop stock. So at some point they have to buy the stock back to return it to the owners......but supply and demand. They borrowed and sold more stock than exists, so people jumped in to buy the stock and just sit on it.
Hedgefunds HAVE to buy the stock back, but no stock is available making the price go up and up. Now every one is sitting back and laughing at the wall street scum as they slow roast.
So far they are down $310 for every single stock they shorted since Jan 1st
Great summary.