I tried to read a story about this GameStop

January 28, 2021, 10:31 am
I tried to read a story about this GameStop
I tried to read a story about this GameStop stuff & my eyes glazed over & I just can`t. Can someone explain this story in one sentence of comprehensible English?

Let`s hope so. It shouldn`t be allowed.

People making money without actually contributing to the economy, and who thought they were more clever than they are, outsmarted by other people trying to make money without actually contributing to the economy.

Stay out of the share market

The market has over shorted the stock so if they needed to buy the stock this am there would not be enough to go ground . This has lead to heavy loses and the investors in the hedge funds will lose. Not all of these are billionaires but institutional. People see the FD mang only

I sure hope so. I think betting on a company to fail should be banned!!!

For many reasons they are going to try and stop this from happening again. Mainly because greed, but also stability. I would say that the Execs are probably pretty happy: Young people turned the tables on hedge funds.

It just shocks me how many people want to explain this story.

Try this. Swipe to see the rest of the photos. There`s 4. It`s a no-minute read, super good.

You need to find an explanation that is entertaining. Like this one. People sold stuff they didnt own. When they went to buy it back, its ended in tears because lots of others gazumped them.

Lots of 15 second tik toks out there explaining it just fine

Monopoly money on a printing press.

People used social media to communicate about buying a particular stock that billionaire/lackey financial types had planned on shorting, or betting against, with other peoples money, and they made billionaire/lackeys types look dumb

1. If they are smart, they should be issuing new stock ASAP to bring in some much needed capital. They try to sell a bunch of their stock quickly in a legal way. 2. Nothing at the moment, which is why wall street is so freaked out. Can reddit screw up? Sure! It`s always a risk.

In the short term, hedge funds might be more careful about putting themselves in this kind of situation where they will be squeezed out. And probs wont underestimate wallstreetbets again

Blue Horseshoe loves Anacott Steel I am a little taken aback by the glee I am seeing in so many reactions to this. It may be sweetly ironic to see a hedge take some losses, but if the problem is that wall street is an irrational casino, this incident looks much more like a symptom than a cure, to me.

Dont bet against the they have more money than you. Also dont bet against the organized netizens, they too have more money than you, even if (or especially if) you are a multi-billion dollar hedge fund.

I still dont understand. Has anyone done a diagram?

A bankrupting company about to be flushed down the toilet inspires a pandemic turnaround story, and a temporary reprieve that becomes the trading vehicle for a multi-billion dollar fight between short-sellers betting on the companys inevitable demise, and tricksters 2/

Redditors bet they can be stubborn longer than hedge fund can remain solvent. Appears to be good bet. Wall st shocked snd cry foul that young internet dorks outgamed their game.

1) It will be back to normal soon, whatever that is 2) For this to punish short sellers there have to too many of them relative to available stock. The truly legendary one happened in 2008. This is a great explainer reddit v. hedge funds Some people online randomly decided they wanted GameStop to stay in business for a very very long time, even though Wall Street hedge funds were betting on its bankruptcy and would have done well financially if it had gone bankrupt; the people online won.

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