Whatever the complexities are on both the GameStop and AMC dramas, the subreddit has become a powerful force and, to hedge funds and institutional short-sellers, a menacing one. Its political ethos is fascinating because it is, at once, vague, heterodox, trans-ideological, defiant, hilarious and anti-establishmentarian. However one tries to define it, it is far more than merely mercenary. It has a purpose beyond profiteering and is driven by collective action, which are two of the factors that make it so unpredictable and uncontrollable and therefore alarming to institutional power.
An interview with r/WallStreetBets founder Jaime Rogozinski
Dangerous is a word I would use.
I dont understand how Gamestop is still above $200. How does a short squeeze last over 5 months?
Hell, over $50 for 3 months seems impossible.
It will be short-lived as these “revolts” become predictable and the traders will soon run out of money.
There were institutional short sellers shorting more shares of GS than existed. They got caught and went crying to the SEC. They want their private casino back, and none of you plebeian interlopers involved Remains to be seen what’s going to happen. But 10 million is a big number.
Yep. Short-sellers like that combine the worst aspects of coyotes and vultures. It’s nice to see them get their comeuppance.
Short selling is bullshit. Because you don’t actually need to have the shares to short the stock. You can call the broker if you’re big enough and important enough and if the broker can suggest that he thinks that he knows where some shares just might be you can then short the stock.
Again you don’t need to have the physical shares just a broker to say he thinks he knows where some shares might be.
Might
Pretty easy to see how this little game works to the benefit of Wall Street and screwing the little guy
Like!