hedge funds sold stock that they promised to buy later. this is called shorting a stock and it's done all the time. the practical reason for "shorting" a stock is you can make money if a company's stock loses value over time.
the hedge funds "sold" the stock last year and now it's time for them to buy to finish up the second part of their trade. they have to buy. and reddit is pumping up the price of buying to levels far higher than hedge funds "sold" for earlier so they're going to lose tons of money.
some people will get rich, some people will lose lots of money, and reddit is basically a pawn.
This is exactly how (((soros))) makes his money.
He bets big on things like government currency, and his money manipulates the value enough to drive the result he wants.
I predict (((reddit))) will make changes to counter this - either by force or because it will be profitable to them, and the people involved may end up facing lengthy investigations.
can't have the "commoners" using the tactics of the rich to elevate their status - especially at the expense of the rich fuckers.
How was the information about shorts having to buy back?? I've looked into it all day and am so happy for the real people who are going to make bank.
(post is archived)