little guys actually beat giant hedge funds for once, punishing them for aggressively driving company to near bankruptcy so they can short stocks cheap as possible.
it's all a fugazi.
socoexpat
02-02-2021, 05:06 PM
My gawd... just gotta love the naratives people create....
Let's be honest here - in one way or another pretty much every American relies on the stock market to some extent. Whether it's personal investments, their IRA's, their employers investments to fund their healthcare and retirement, their states investments to fund services...
Hedge funds and short sellers are simply those who bet a stock is over-valued (which I would argue 99% currently are). Game Stop was a failing business model- one that boomed but is no longer relevant or viable in current realities.
The "meme stock" nonsense... ala reddit's r/wallstreet bets... it's hard to tell if was a combination of stupidy and attogance... or a prosecutable "pump and dump" scheme. A handful of people made a LOT of money- for nothing at all. Yep...heroes right? A lot of the redditors have lost a fortune as the scheme crashed.
Yes- some big hedge funds took a beating. On paper. But they aren't harmed- it's normal people and state governments that god screwed...