Nothing fishy here... a lot of Reddit folks, either in truth or imagined, supposedly caught market cheaters in an organized sell off to lower stock values, and then planned to buy back low... along came Reddit.... and something else happened. Those who sold off their shares lost them to Reddit short sellers... so a shit ton of low players made a fortune (as of now... but they better act fast when it re-opens)... now Gamestop has a real problem... their majority owners are now a bunch of short selling kids.
r/wallstreetbets triggered a circuit breaker by sending GameStop’s stock up 69 percent.
www.theverge.com
View attachment 447884
supposedly caught market cheaters in an organized sell off to lower stock values,
Market cheaters? Tell me more!
Founded by 42-year-old Gabe Plotkin, Melvin Capital Management is down 15% just three weeks into 2021 after a series of wrong-way bets.
www.wsj.com
Scuttlebutt out there.... they are toast. May not recover.
Thanks for the link.
I didn't see mention of market cheaters in the article. Did you?
Two things.... one I said Reddit day traders "supposedly" caught Marvin cheating.... by borrowing/creating a large short sell to force down Gamestop shares, and then buy back.
Not really "cheating" but it is said Marvin collaborated with other firms to also short sell.... and that, if true, is cheating.
Sooo.... a bunch of Reddit investors rushed in to buy all of the Gamestop shares (which did happen) and Marvin is left with the debt of the short sell.
This kind of thing is likely not to appear in mass media. The large firms don't take to kindly to the common folk getting smart.
I wouldn't be surprised if a few people get suicided over this
Meanwhile Gamestop is in near panic. Now their largest shareholders are a bunch of pissed off kids.
