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.
I want to learn more about the world of finance/stock markets/economics. Does anybody have any good book recommendations? I'm not scurredt of technical material.
I just started Basic Economics by Thomas Sowell.
Read anything by Milton Friedman, Thomas Sowell and subscribe to the peter Shciff podcast, wall st for main st and George Gammon on youtube.