3318
No wonder they killed Wall Street Bets... they cost the criminals 14 B-I-L-L-I-O-N (media.patriots.win)
posted ago by Doochebag ago by Doochebag +3319 / -1
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▲ 66 ▼
– ProdigalPlaneswalker 66 points ago +67 / -1

They shorted a penny stock.

Low upside. Unlimited downside.

If the stock had gone to zero the most they could make was around $200 million (or $0.2 billion).

Let me write this out with the zeroes for better visibility.

Potential gain: $200,000,000

Today's Loss: $14,300,000,000

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▲ 42 ▼
– liberpede 42 points ago +42 / -0

It wasn't about getting the stock all the way to zero.

This is the classic short squeeze hostile takeover. Their goal was to own GameStop at the end.

Remember Robin Williams' character in Hook?

This kind of shit is why he hated himself.

Spez: apparently the hedgies opened their position with a share price of roughly $50. Unconfirmed, but reports are that their downside exposure is...

Wait for it...

$1B per $11.95 rise in stock price.

With a current stock price of $350, that info predicts a current loss for the hedgies of...

$25B

Amazing. I hope that info is reliable.

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▲ 32 ▼
– ProdigalPlaneswalker 32 points ago +32 / -0

Their goal was to own GameStop

Good lord, they're stupider than I thought.

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