https://www.google.com/amp/s/nymag....-explained-wallstreetbets-melvin-capital.html
I've been watching and reading about this for a bit now and it's coming to a head.
Basically Gamestop which was failing as a company had many large groups short their stocks. (In simplest terms, they bet there money against gamestop)
The group at wallstreetbets on reddit has pumped the stock to extraordinary measures. Both creating money for themselves and costing hedge fund groups a TON of money. One of the groups had to have an injection of $100's of millions, likely in part due to this happening.
Its pretty interesting and what should be most of note is that leaders in the SEC are actually calling for regulations!!! The same group of people that are willingly complicit in large firms using similar tactics to control markets are now trying to more than ensure that wall street, not main street has all control.
I just googled and picked a site for the link, but it's a very interesting and important event that you will likely be hearing about in the days to come.
I've been watching and reading about this for a bit now and it's coming to a head.
Basically Gamestop which was failing as a company had many large groups short their stocks. (In simplest terms, they bet there money against gamestop)
The group at wallstreetbets on reddit has pumped the stock to extraordinary measures. Both creating money for themselves and costing hedge fund groups a TON of money. One of the groups had to have an injection of $100's of millions, likely in part due to this happening.
Its pretty interesting and what should be most of note is that leaders in the SEC are actually calling for regulations!!! The same group of people that are willingly complicit in large firms using similar tactics to control markets are now trying to more than ensure that wall street, not main street has all control.
I just googled and picked a site for the link, but it's a very interesting and important event that you will likely be hearing about in the days to come.
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