It's entry level and quick. The whole point was to get as many "new traders" to buy 20 dollars worth at a time.
It's not about making money, it's about putting a significant dent in "their" wallets.
Ah, I seem to have missed out on this whole thing.
Isn't it the case that trades are commission free?
You're not gonna put a dent in a multi-billion dollar hedge fund's wallet "20 dollars worth at a time."
I'm sorry, we don't allow negro levels of iq in here.
If a share is $1, and you bulk short stock for $10,000, then other people buy so many stock options that the cost per share hits $250, then that's 249*10000 that the short has cost them that they have to pay the broker.
Now consider that the price went from 2.57 to 483 it's easy to see how they got fucked. They have to pay almost $500 for every share they shorted.
The only way it goes to 483 is if people keep BUYING at 483 (or holders refuse to sell below 483...). You can't get there "20 dollars worth at a time"
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