It never would have worked. The absolute best case scenario was one hedgefund company has less profit that year.
Comment on GameStop’s definition of “New”
MossyFeathers@pawb.social 8 months agoI think there was more to it than that. It seemed more like a situation where they could kill two birds with one stone. They could destroy, or at least severely damage the stock market by ensuring the hedgefunds couldn’t buy back the shorted stock, and even if they didn’t, they had the chance to become extremely wealthy while trying.
It probably would have worked too if it weren’t for those meddling kids stock brokers like Robin Hood working with hedgefunds to claw back stocks and the SEC towering over them with potential charges of market manipulation.
RaineV1@kbin.social 8 months ago
war@kbin.social 8 months ago
destroy, or at least severely damage the stock market
hahahahahahahahaha o holy shit the level of delusion is absolutely fucking mindbogglingly pathetic, jesus fucking christ
DingoBilly@lemmy.world 8 months ago
Destroy or severely damage the stock market? It was just one stock, some people lost money but it didn’t affect 99%+ of the stock market or its traders… Just a little meme blip on the scale of things.