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re: A summary of what happened today with GME and why securities were restricted
Posted on 1/28/21 at 8:40 pm to BornCritic
Posted on 1/28/21 at 8:40 pm to BornCritic
No, hedge funds incinerating a few billion isn’t that catastrophic.
2
Posted on 1/28/21 at 8:52 pm to southernelite
Its beyond that. They sell off everything after bankruptcy and cause a massive correction in the market. And since no one has money to buy that volume, massive price drops doubling down worse when stop losses are hit.
This shoukdve ended last week with Melvin admitting he fricked up vs citidel backing him and his frickin ego. That ego trip blew the lid off this thing to where every reasonably shorted stock is getting pumped.
This shoukdve ended last week with Melvin admitting he fricked up vs citidel backing him and his frickin ego. That ego trip blew the lid off this thing to where every reasonably shorted stock is getting pumped.
Posted on 1/28/21 at 9:09 pm to southernelite
quote:
No, hedge funds incinerating a few billion isn’t that catastrophic.
Talk me off the ledge baw. If the shite that happened today was unwound and regular trading resumes tomorrow going forward, how does this end?
As someone has said reddit has found a small technical "glitch" in the matrix and that has now blown up into a worldwide phenomenon. The longer this goes on, the more damage can be dealt to the overall system when the bag eventually has to get held.
I have this eerie feeling that the powers that be exerting all this "control" over the situation actually shows that this thing is tripping some serious circuit breakers to prevent catastrophe, or maybe that they really aren't in control at all anymore.
This post was edited on 1/28/21 at 9:11 pm
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