There's a too-good-to-be-true story about a subreddit conspiring to inflate the price of GameStop from $2.00 to $300.00 per share that some people allegedly got rich off of. Last night they announced their next targets would be AMC and Nokia so a bunch of simps signed up for acorns and robin hood to buy in on a get rich quick scheme for day traders who sold out after they made their millions by gouging the price up and letting everyone else pump it up. I don't care if 3 million people buy 2 shares each, it's a failing company that is being manipulated so bigger investors can take advantage of people who know nothing about the stock market
Wrong, hedge funds severely overshorted GME, I'm talking ~140% of floating stocks. WSB autists learned about this and they start pushing GME prices higher. This massive short is due this Friday, which means they HAVE to buy the stock at market price, which will skyrocket as a result since people who hold the stock can set a very high price. Hedge funds who shorted GME stand to go bankrupt, while retail can make fortunes.
There's a too-good-to-be-true story about a subreddit conspiring to inflate the price of GameStop from $2.00 to $300.00 per share that some people allegedly got rich off of. Last night they announced their next targets would be AMC and Nokia so a bunch of simps signed up for acorns and robin hood to buy in on a get rich quick scheme for day traders who sold out after they made their millions by gouging the price up and letting everyone else pump it up. I don't care if 3 million people buy 2 shares each, it's a failing company that is being manipulated so bigger investors can take advantage of people who know nothing about the stock market
Wrong, hedge funds severely overshorted GME, I'm talking ~140% of floating stocks. WSB autists learned about this and they start pushing GME prices higher. This massive short is due this Friday, which means they HAVE to buy the stock at market price, which will skyrocket as a result since people who hold the stock can set a very high price. Hedge funds who shorted GME stand to go bankrupt, while retail can make fortunes.
This is true. The people buying GME now are doing it to deliberately fuck with Wall Street and it's glorious.