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fishwax

(29,146 posts)
16. but the thing that drove the stock up was the short sellers
Thu Jan 28, 2021, 07:57 PM
Jan 2021

It wasn't really redditors driving the price of the stock up--it was the short sellers who got so overconfident in their position against the company that they created a shortage of the stock itself. If your funds (and mine) at TIAA-CREF got screwed as a result, it's on the people who made the bad bet against gamestop (which wasn't really a fundamentally bad company anyway). The people who bought (rather than shorting it) at 5 bucks or 10 bucks obviously made a good bet. (The people getting in when it was shooting through triple digits, on the other hand, may be less successful when the dust clears, depending on when they get out.)

Sheldon Whitehouse says there will be an investigation Thekaspervote Jan 2021 #1
Of whom? Sympthsical Jan 2021 #4
Sherrod Brown Turin_C3PO Jan 2021 #19
Good, I'm with him and AOC. elleng Jan 2021 #6
K n R Glamrock Jan 2021 #2
They're gonna get bailed out, can't let those poor billionaire hedgefunds go broke ansible Jan 2021 #3
The money that everyone is playing around with MyNameGoesHere Jan 2021 #5
Two wrongs don't make a right frazzled Jan 2021 #7
Why shouldn't regular people be able to play the game? BlueTsunami2018 Jan 2021 #10
And where was the will to act in '08 and beyond? Sympthsical Jan 2021 #12
but the thing that drove the stock up was the short sellers fishwax Jan 2021 #16
Why shouldn't regular people play that game. They are only doing what the Hedgers do. Demsrule86 Jan 2021 #17
Maybe the time has come to create a market DeminPennswoods Jan 2021 #8
Absolutely agreed FakeNoose Jan 2021 #11
Investopedia has a great simulation The Mouth Jan 2021 #20
I hope there is an investigation and there should be a stop to short trading, it is the real problem Bev54 Jan 2021 #9
One reform needed is curbs, or elimination of, Disaffected Jan 2021 #13
My question is, where were the regulators? Sympthsical Jan 2021 #14
The regulators seem to have been missing Disaffected Jan 2021 #15
Billionaires weren't losing money. Once they did, we bailed them out Sympthsical Jan 2021 #18
Short sellers suck The Mouth Jan 2021 #21
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