The whole market was about 30 seconds from blowing up. When the brokers shut down gme buying it was that close to going into the mother of all gamma squeezes. GME price would have gone infinite triggering the hedge funds to have to liquidate everything at any price to cover their position. This would cause the market to be flooded with sell orders and crashed the price of every other stock while gme would become more valuable than all the fiat ever printed and the entire world economy. I wouldnt be surprised if this killswitch was some sort of computer controlled safety feature baked into every broker. There was at least one sell order that was executed at 2600$ right before the shutdown of share buying this means gme price was going exponential.
I don't think they defused it. Plus the redditards figured out the game.
I dont think it's diffused yet either. Everyone is still holding but the longer they can hold off the gamma squeeze the harder it will be to convince people to stay in and thats assuming there arent whales that have some set price they are coordinating to sell at.
2 things
1. You should make this comment a top level post, this is the best technical explanation of why they freaked
2. Can you tell us how to see the sell order or is that... fuck I don't know... secret?
If there really was a sell order for $2600 this wasn't an exaggeration
while gme would become more valuable than all the fiat ever printed and the entire world economy
User on reddit claims they sold .11 shares for 2600 a share. https://www.reddit.com/user/zshub/
Screenshot of the sell order. https://files.catbox.moe/kml0kb.jpg
You rule! Thank you
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