re: Short-sellers lost $14.3 billion today alone on GameStop stock, according to S3 Partners

quote:

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I know I will get shite for this, but I have no idea what is going on with GameStop.

Would someone summarize please.

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You can sell a stock you don't own - you just have to buy the stock by a certain date to complete the transaction.

Fat cats do that if they expect the price to drop. They sell it now for $100 (or whatever) and buy it later at $75, so they pocket the difference. It's known as shorting.

Reddit autists decided to screw the short sellers by buying those stocks, which artifically inflated the price. Now the short sellers have to buy the stocks at the higher price.

The elites are mad. Basically because you're not allowed to punch up.