Posted January 28, 2021
Well isn't this amusing.It's pity it didn't happen toZenimax or some others. Especially those that got bail outs in that industry at the expense of the peoples bank savings.
The dirty smear merchants are misrepresenting this as described by Louis Rossmann in this video.
ht/tps://www.youtube.com/watch?v=D-U2rOHIv94
Could Gamestop use this to turn around their business into a different one like retro arcades, VR zones or something else?
$2bn losses
Gamestop is the most shorted stock on Wall Street, with some 30% of the shares thought to be in the hands of hedge fund borrowers.
But Reddit's retail investors have embarked on a frenzy of share buying and options trades, pushing up the price and putting a "short squeeze" on the pros.
In this supercharged trading environment, the big Wall Street investors rush back into the market to limit their losses, with the demand pushing up the price still further.
One hedge fund, Melvin Capital Management, reportedly had to be bailed out with more than $2bn to cover losses on some shares, including Gamestop, while another short-seller, Citron Research, has also withdrawn from the fray.
For many Reddit investors, it's not just about making money. They smell blood.
https://www.bbc.co.uk/news/business-55817918 Gamestop is the most shorted stock on Wall Street, with some 30% of the shares thought to be in the hands of hedge fund borrowers.
But Reddit's retail investors have embarked on a frenzy of share buying and options trades, pushing up the price and putting a "short squeeze" on the pros.
In this supercharged trading environment, the big Wall Street investors rush back into the market to limit their losses, with the demand pushing up the price still further.
One hedge fund, Melvin Capital Management, reportedly had to be bailed out with more than $2bn to cover losses on some shares, including Gamestop, while another short-seller, Citron Research, has also withdrawn from the fray.
For many Reddit investors, it's not just about making money. They smell blood.
The dirty smear merchants are misrepresenting this as described by Louis Rossmann in this video.
ht/tps://www.youtube.com/watch?v=D-U2rOHIv94
Could Gamestop use this to turn around their business into a different one like retro arcades, VR zones or something else?
