Here what I would find fucking hilarious:
Melvin needs to buy up at least 100% of the gamestop stock (at least from different reports, ranging from 130% to 260% - never mind the illegality of that part)
Once he has 100% of the gamestop stock, he owns the company.
Not sure if or when 100% of the stock would ever be bought, but once he is in total control of the company, he can set the price to whatever he wants. Edit: after taking it private.
I don't know how shorts work in that case - if someone needs to buy the stock, but nobody sells, what is the recourse? I'm sure in the contract there is some clause that deals with that. But as the sole owner of 1 (or even 2) gamestops, Melvin could have a nice little fortune in his grasp.
Not at all.
It is true that he does need to buy 100%+ of the stock, but only because he borrowed it from other people, and needs to return it. He never owns the stock, he's just trying to make money off the stock going down in price.
Tl;dr: jews jewing jews.
I don't know how he can borrow more than 100% of the stock.
Reports vary from 130% to 250% or something. I don't know who to believe, but if I borrow a stock from someone, I don't know how that stock can be "reborrowed" by either Melvin, or by another short seller right now.
This is how wall street and the (((bankers))) constantly fuck with us. They have all these loopholes and processes that allow for constant fuckery of the commoners, while squeezing every last shekel from us.
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