What started out as a few brokerage house thinking they could force Gamestop in bankruptcy for an easy killing are in for a rude awaking.
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This is bigger than a Robinhood group. The dollar amounts is beyond them.
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This will kill the brokerage houses that shorted them and the banks that back them.
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The brokerage houses and banks now have to sell/short into the buyers trying to save themselves. It is not working and just making their losses worse.
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Whoever is the backing this has a plan to destroy some big players and it's working.
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Once this is done, there will be another and another.
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Enjoy the show.
My buddy at work was telling me about this. Apparently there is a memestocks subreddit and they are just picking stocks and and basically as a group investing and driving the prices up. He is in on a few of their picks...it's hilarious to see the regular people impacting the market like this...
Whats the link. I could use some cash