Basically, hedge fund investors bet on stocks to lose so they can buy the stocks low and make money. They bet on Gamestop stock to lose, then autists from a trading subreddit caught on, purchased a bunch of shares, and the stock skyrocketed. The hedge fund investors have to come up with the difference, and now they've lost billions. They were pissed that the peasants were playing their game, so they had trading companies pull the plug temporarily so they could "recalibrate."
They've already got several feds shaking the tree to scare the plebs.
"Y'all better stop doing this. We may have to investigate you if you continue. You're taking advantage of inexperienced investors. This isn't a casino!"
Basically, hedge fund investors bet on stocks to lose so they can buy the stocks low and make money. They bet on Gamestop stock to lose, then autists from a trading subreddit caught on, purchased a bunch of shares, and the stock skyrocketed. The hedge fund investors have to come up with the difference, and now they've lost billions. They were pissed that the peasants were playing their game, so they had trading companies pull the plug temporarily so they could "recalibrate."
They've already got several feds shaking the tree to scare the plebs.
"Y'all better stop doing this. We may have to investigate you if you continue. You're taking advantage of inexperienced investors. This isn't a casino!"
Reminds me of when CNN claimed it was illegal for us to view certain content unless it was on their network.