They tricked a hedgefund into investing in GME? Is that what happened? I dont understand what they did exactly. I know r/wallstreetbets does some crazy shit sometimes
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
GameStop and redditors fucking hedge fund - suicide weekend coming!
They tricked a hedgefund into investing in GME? Is that what happened? I dont understand what they did exactly. I know r/wallstreetbets does some crazy shit sometimes
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