Trying to understand the gamestop situation is making my head spin.
I need a better understanding of finance.
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Pfuzylogic · M
When you have enough buyers you can overwhelm the short sellers even when their short sell is based on an analysis of the financial fundamentals.
I had Rupert Murdoch burn me in 1982 on a Warner Communications stock purchase. It would have been nice to have a group roust him the same way back then.
I had Rupert Murdoch burn me in 1982 on a Warner Communications stock purchase. It would have been nice to have a group roust him the same way back then.
Pfuzylogic · M
@KristinaM
This is affecting one stock “GameStop” which was trading at $4 and went up above 10 when people looked at the short sale. People noticed the price drop and then a group on Reddit got into gear to drive the price up to well over 100 maybe 200. I wouldn’t but it now. Some people made a massive amount of money but hedge funds looked really bad when they had to cover or buy back their initial short sale.
I sold Mattel short like that but for different reasons in 1983.
This is affecting one stock “GameStop” which was trading at $4 and went up above 10 when people looked at the short sale. People noticed the price drop and then a group on Reddit got into gear to drive the price up to well over 100 maybe 200. I wouldn’t but it now. Some people made a massive amount of money but hedge funds looked really bad when they had to cover or buy back their initial short sale.
I sold Mattel short like that but for different reasons in 1983.