Re:GameStop Is Rage Against the Financial Machine
by rank0 on Thursday February 04, 2021 @02:14PM
(#26028718)
Short squeezes happen organically all the time. Its not that short squeeze = manipulation, its that WSB induced a short squeeze as a coordinated effort.
A forum with 2 million members advertised and coordinated a massive purchase of shares. Gamestop's market cap was less than $900m at the time. Gamestop was shorted at %140 of its float. There were daily posts describing how the forum has enough collective capital to hold a significant portion of the company.
None of that happened with Tesla. There isn't a community of millions all planning to buy Telsa at the same time for a 2 week period. Its not being championed as a noble cause for retail investors.
How are you okay with this happening? The people who actually get hurt are gullible uneducated poor people that were promised a way to get rich quick and stick it to the global elite. Do you feel no sympathy for the victims of this scheme or any other MLM/ponzi "greater fool" bullshit?
A forum with 2 million members advertised and coordinated a massive purchase of shares. Gamestop's market cap was less than $900m at the time. Gamestop was shorted at %140 of its float. There were daily posts describing how the forum has enough collective capital to hold a significant portion of the company.
None of that happened with Tesla. There isn't a community of millions all planning to buy Telsa at the same time for a 2 week period. Its not being championed as a noble cause for retail investors.
How are you okay with this happening? The people who actually get hurt are gullible uneducated poor people that were promised a way to get rich quick and stick it to the global elite. Do you feel no sympathy for the victims of this scheme or any other MLM/ponzi "greater fool" bullshit?