It's called a "short-squeeze". Trades by small investors drove up the price of GameStop stock where the Hedge Funds had taken huge shorts to drive the stock to ZERO (putting them out of business). Hedge Funds lost big, while the small investors won big. Guess what the White House did? Intervened to stop the trading and thereby the losses by Hedge Funds.
It's called a "short-squeeze". Trades by small investors drove up the price of GameStop stock where the Hedge Funds had taken huge shorts to drive the stock to ZERO (putting them out of business). Hedge Funds lost big, while the small investors won big. Guess what the White House did? Intervened to stop the trading and thereby the losses by Hedge Funds.
(post is archived)