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There will definitely be new processes put in place (and probably laws) to protect the elites. Can't have the commoners deprive the (((bankers))) of "their" money, can we?
A smart investor would look around and see the other situations happening.
1) Melvin needs to cover more than 100% of the shares?? does that mean he will end up owning the company?? (assuming he gets all of the shares - I don't know how that will work out)
2) other funds see the insanely high prices and short the stock
3) Melvin then refuses to sell?? takes the company private and squeezes the other shorts??
Wall street ends up being 100% screwed by themselves and congress, leading to investigations and new rules...
Fact. People should understand that it's the money itself that controls...not any "system" or political party. It's the fucking money.
Well, if by "smart" you mean recognizing short positions as having millions dumped into it and then having a counter culture online "community" start a campaign against it...yes.
1 - Melvin would have to cover the float, not the shares. The float is at this point is infinite and why they dried up. When the first day came and went and they couldn't cover their position, they were then forced to borrow more against the short ( push out the length) ...but the stock kept getting bought. Further Inflating its cost and forcing the bet against (the short) into further debt.
2 - " Other funds see the .." You think other hedge funds shorted a stock that was getting its ass kicked ? You don't understand very much about the market.
3 - Melvin sells and they have to cover the float ...again, learn how the market works.
Wall street didn't end up "being 100% screwed" a single hedge fund did. (and it got destroyed) For the final time, learn something about the market before speaking on it.
No other fund sees gamestop at $400 and thinks "this won't ever go down, I will stay away?"
You don't think wall street will end up in the crosshairs for this?
lol..you think they're allowing the stock to be shorted now ? you show me where and I'll buy as much as they're selling.
You think wall street and not the "redditors" are going to have their shit shoved for this ? You clearly have no idea who runs wall street.
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