Wall Street borrowed stocks and sold them with the promise to replace them later.
They thought the price would go down. The difference between what they sold at vs what they replace them at is their profit.
They sold 140% of the available stock.
Price went way up.
The internet has Wall Street by the balls because Wall Street HAS to buy those stocks at market price by the time their contract expires. As long as WSB and friends hold and don't get scared and sell the price will only go up.
Wall Street borrowed stocks and sold them with the promise to replace them later.
They thought the price would go down. The difference between what they sold at vs what they replace them at is their profit.
They sold 140% of the available stock.
Price went way up.
The internet has Wall Street by the balls because Wall Street HAS to buy those stocks at market price by the time their contract expires. As long as WSB and friends hold and don't get scared and sell the price will only go up.