Then the anons on reddit got wind of their evil manipulations, came up with a way to screw the greedy manipulators by using the Short sell strategy against them. This could only be done in great numbers and only if they could all work in cahoots, which the internet now allows. If this strategy works, they will have out-manipulated the manipulators and can do this to WallStreet over and over, throwing off the control collars of the 1%. That is returning power to the people. Is that correct, Stockanons?
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GameStop, GME, is struggling. Banks are betting on bankruptcy. .. they shorted the stock, then they naked shorted the stock. .... Naked short - borrowing shares that don't exist to sell short. ... all this is - someone reads their (hedge fund people) public documents on asset holds. Did the math. Realized GME was naked. Spent $750,000 to buy up shares slowly over 6 months, as to not spook them, then advertised his plan. People agreed to run the stock up. Now, the hedge company is required to buy back shares or be fined due to contract with bank. ... We are at the point of 7 other hedge firms are trying to bailout this one. They literally can drag this out for 2 weeks. Only way this is working is people are holding for $5,000 a share. If no one flinches everyone gets paid.
except the hedges backing melvin