By Invitation Only

oldngray

nowhere special
Wall Street big wigs were planning to make a ton of money off of short selling their stock but a bunch of people on Reddit decided to get together and drive the stock price up and the plan spread, *ing over all the hedge fund guys. Eventually Robinhood and some other trade administrators decided to block purchases of GS stock and in the end, exposed the hypocrisy and rigging of their "free market" and now they're probably getting sued.

One of the few times I can say I'm proud of Reddit.
Robinhood blocked purchases but not sales of Gamestop meaning it could only go down and benefit the hedge fund short sellers.
 

oldngray

nowhere special
z-memes-34-7.jpg
 

BadIdeaGuy

Moderator
Staff member
What does it mean to short sell a stock?
You are selling something you don't own.

Imagine you borrow a table from me, and sell it.
You owe me one table.
You are hoping tables go on sale, and you can pick one up cheaper.
You buy one for half what you sold it at, and can give me back "my" table, and pocket the difference.

Selling stuff you don't own is dangerous, at best.
 

Wally

BrownCafe Innovator & King of Puns

This is awesome! Screw the hedge fund people!
Only thing is the hedge fund folks are playing with gambling money
The little guy could lose.

Other hedge funds went long and they are happy.
 
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