They tired to "short" it. I am tired so I might get this wrong but this is the simple version.
"Rent/borrow" a stock a a price hoping that it is going to go down. If it stays the same or goes up you are liable for the cost change. If it goes down, you make a profit since you "rent" it at a lower price. More or less. It is kind of stupid but apparently works sometimes.
So, if people buy in and the price goes up. You get fucked. If people dump the stock then you make bank.
They tired to "short" it. I am tired so I might get this wrong but this is the simple version.
"Rent/borrow" a stock a a price hoping that it is going to go down. If it stays the same or goes up you are liable for the cost change. If it goes down, you make a profit since you "rent" it at a lower price. More or less. It is kind of stupid but apparently works sometimes.
So, if people buy in and the price goes up. You get fucked. If people dump the stock then you make bank.
(post is archived)