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 have seen some of their accounts, these traders aren't dropping just a few hundred dollars, but 50k at a time.
with 3.4 million subscribers on that subreddit, that is some serious cash being pumped into gamestop.