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re: Someone explain this Game Stop deal.
Posted on 1/27/21 at 3:03 pm to Konkey Dong
Posted on 1/27/21 at 3:03 pm to Konkey Dong
Sounds fair to me... the hedgefunds trying to ruin a company stock... interventionists find out and save it.
serves the hedge funds right
serves the hedge funds right
2
Posted on 1/27/21 at 3:13 pm to dakarx
quote:
Sounds fair to me... the hedgefunds trying to ruin a company stock... interventionists find out and save it.
The evaluation to short GME is not wrong IMO. People are downloading their games now. They are not running to the mall and buying it on DVD anymore because of the increased bandwidth in your average home. GME will fail if their retail model does not adjust. Just like Blockbuster Video.
What was/is wrong in this situation is the stock was shorted 130%. In other words brokers were loaning out stock that did not exists. Digital counterfeit.
The retail longs are just taking advantage of the hedge fund's illegal activity which is easy to do when they hold short 130% of the stock.
Posted on 1/27/21 at 3:18 pm to dakarx
quote:
the hedgefunds trying to ruin a company stock.
They're not trying to ruin the stock. They see the company as already week and assume the price of the stock is headed down. So they try to make money off of the impending demise by "shorting" the stock.
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