No, it was a margin call. They over-leveraged, and they became too much of a risk. Seems to me like they shorted the fuck out of GME. Hwang’s old employer advised GME to switch their game plan up or they’d go bankrupt. Hwang found out GME was not going to change, so he shorted it, probably at the very bottom, so they got margin called for their shitty play, high-risk, and no cash.
No, it was a margin call. They over-leveraged, and they became too much of a risk. Seems to me like they shorted the fuck out of GME. Hwang’s old employer advised GME to switch their game plan up or they’d go bankrupt. Hwang found out GME was not going to change, so he shorted it, probably at the very bottom, so they got margin called for their shitty play, high-risk, and no cash.