re: Old Row is all over this Robinhood stuff

The stock for Gamestop (retail video game store) was bet against by a hedge fund wolf of Wall st person. They bet 140% of Gamestop's shares would go down some amount by x amount of time (tomorrow for some of that I think). These extra 40% of illegal magic stocks that don't exist have to be payed for out of pocket by the gambling hedge fund people at the call time. So a bunch of reddit people took note and started buying the stock, driving the price up. Robinhood, tb ameritrade etc sold these stocks until yesterday when they put a halt to purchases because their buddies and bosses are going to lose the bet and have to pay an insane amount of money.

Someone correct me if I'm wrong please, this is how much I've figured out just reading, this is not financial advise