Two sides are going to lose on this.
The original short sellers, if they can’t cover. They can make their $ back, ironically, if they short again now that the price is ludicrous, but they will need to raise cash to do it. Don’t know if they can. Probably.
The many thousands of reddit and other buyers. If they are wise they would have individually put in just token $, and can accept a small loss for the fun of annoying the hedge funds.
“The many thousands of reddit and other buyers. If they are wise they would have individually put in just token $, and can accept a small loss for the fun of annoying the hedge funds.”
that’s whats happening, mostly. it’s moe political gainst the elite and hedge funds. Soem think they will be rich, and may be, on paper.
Got to $350+ a few minutes ago, but Melvin is now out, announced on CNBC.
They went out after the gamers, who are sick of it.
There are people who spent $40K on Star Citizen, and are ok with it being vapor ware.
Be careful Fing with certain personalities. They will burn you just for the laughs.