A whole bunch of hedge fund elitists were shorting GameStop stock and a group just said f it and all together started to buy GameStop stocks bull rushing it, which drove the stock up and hedge fund elites collectively lost some 14.3 billion in one day. Now that investor group is being kicked off from just about every platform.
Ok. I’m gonna need some one to explain what’s going on here.
A whole bunch of hedge fund elitists were shorting GameStop stock and a group just said f it and all together started to buy GameStop stocks bull rushing it, which drove the stock up and hedge fund elites collectively lost some 14.3 billion in one day. Now that investor group is being kicked off from just about every platform.
And from what I can make out, this tactic is used all the time on Wall Street to make money out of thin air.
However I am clueless how all of this works so take that with a grain of salt!