Why are trump supporters being blamed for the price incrase of gamestop stock? how can we get blamed for something "good" ? What am I missing about this headline and the implications- it seems stupid to me at its surface but I'm seeing it pop up everywhere and I just want to know if I'm missing something. Thoughts?
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First of all, it originated on Reddit from what I understand so it’s not exactly trump supporters. What they’re pissy about is a few scumbag hedge funds and Black Rock (yes the dominion/smartmatic black rock) are getting their shit pushed in because they had a huge uncovered short position. They actually have more shorted shares than there are existing shares for gamestonk. This predatory shorting practice needs to go away no matter what but these moves should collapse a few hedges and hopefully cause regulatory reform. The big fat cats who manipulate markets don’t want change and want to keep being able to point to a stock and make it collapse by using the weight of their shorts.