The Little People Show Some Muscle !
~ by TPO ~
Hedge funds shorted more than 100% of all shares of GameStop. To do this, they had to sell more shares than actually existed.
The hedge funds never actually owned these shares to begin with, and because they were short-selling they never actually paid for them.
Redditors saw this and decided to buy up all these shorted shares to GameStop, a company that wasn't failing. The hedge funds would then be forced to buy back as they never actually owned the shares they were short-selling !
The beauty of this is: If you knew what to look for, you could have seen this coming too. It isn't mystical, it isn't magic. They made these billionaires pay back more than what they basically stole by being greedy ... this is a good thing !
No comments:
Post a Comment