Who said there were free markets? This will end with the absolute decimation of retail trading.
I am old enough to remember the Occupy Wall Street fiasco. Thousands of people spent weeks in drum circles and they achieved absolutely nothing. Funny enough, the Occupy crowd “evolved” into antifa, and now they’re close to achieving “social worker” status in Biden’s militarized occupation government. This is not a joke by the way.
So here we are in 2021, not a month into usurper Biden’s illegitimate presidency, with Reddit of all places going full populist army and burning Wall Street to the ground.
The whole thing about the short sell squeeze is that until now, hedge fund managers on Wall Street thought that they are the only ones who can manipulate markets, and peasants are there just to give them money.
With apps like Robinhood, individual traders can now crowd-fund and manipulate the stock market at scale, just as the cabal of rich vulture-capitalists and hedge fund managers did for years.
And that’s a no-no procedure. Only the rich are allowed to manipulate markets and speculate, as the system is designed to help them make shitloads of money, not you. Here’s some good news. Well, sort of:
Reuters:
Short-sellers are sitting on estimated losses of $70.87 billion from their short positions in U.S. companies so far this year, data from financial data analytics firm Ortex showed on Thursday.
The hefty losses come as shares of highly-shorted GameStop jumped more than 1,000% in the past week without a clear business reason, forcing short-sellers to buy back into the stock to cover potential losses — defined as a short-squeeze — while retail investors then piled in to benefit from the surge.
Chasing shorted companies became a trend among retail traders, rippling across U.S. markets and Europe. Ortex data showed that as of Wednesday, there were loss-making short positions on more than 5,000 U.S. firms.
Its data also showed that estimated losses from shorting GameStop at $1.03 billion year-to-date, while those shorting Bed, Bath & Beyond were looking at a $600 million loss.
If you’re not up to date with the GameStop extravaganza, watch this video:
http://www.investmentwatchblog.com/reddit-bros-are-burning-wall-street-to-the-ground/
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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