Incredible.
What’s happening with GameStop rn is utterly insane. Bringing Wall Street to its knees. Wow
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ImplodingVoices · F
What now?
NoahB · 26-30, M
@ImplodingVoices basically a 13 billion dollar hedge fund shorted GameStop stock. Bunch of small time investors caught wind of it and bought up a bunch of GameStop stock. Drove the price up to insane heights and now the hedgefund can’t afford to buy the stocks back. Their going to probably declare bankruptcy by the end of the week. Thing is the hedge fund is connected to a bunch of front facing banks. So if they go under it’s a big ass mess
QuixoticSoul · 41-45, M
@NoahB Melvin just got bailed out, doubt they’ll go belly up. Pretty sure they’re still shorting gme.
Plus remember that a $13 billion hedge fund is a small fry - I’ve never even worked for an asset manager with less than a trillion aum. Melvin is only interesting because they’ve been generating such high returns over the last few years, and are more aggressive about shorting.
Plus remember that a $13 billion hedge fund is a small fry - I’ve never even worked for an asset manager with less than a trillion aum. Melvin is only interesting because they’ve been generating such high returns over the last few years, and are more aggressive about shorting.
NoahB · 26-30, M
@QuixoticSoul they already burned through their bail money last I heard and they had to liquidate a bunch of their Big money stock. Allibaba and stuff like that