...People have decided to buy GameStop stock for shits and giggles massively inflating the stock value trying to force investment firms and hedge funds out of business.
[brace for impact]
My son knew about this before I did and said he was in a battle of good versus evil LOL. I thought, "maybe there's hope for him yet." But I really didn't understand it at the time. The explanations here have been really enlightening. What's interesting to me about it is that these are just normal people having a conversation on Reddit that decided to wage battle against the greedy jerks that destroy companies and livelihoods.
...People have decided to buy GameStop stock for shits and giggles massively inflating the stock value trying to force investment firms and hedge funds out of business. [brace for impact]
They did it for the luls, which is the best part.
Bonus: they are getting paid while doing it.
Trading Places. Top 10 movie of all time.
My son knew about this before I did and said he was in a battle of good versus evil LOL. I thought, "maybe there's hope for him yet." But I really didn't understand it at the time. The explanations here have been really enlightening. What's interesting to me about it is that these are just normal people having a conversation on Reddit that decided to wage battle against the greedy jerks that destroy companies and livelihoods.
This is real shit. There are more short contracts than actual shares. I dont know of this having happened in my lifetime
I don't know how that happens. It's all a paper fraud.
I believe that it happens through bundling.