I love this story so much!
If you thought the GameStop story was awesome, you ain’t seen nothing yet!
If you don’t know that story or don’t understand it, basically a bunch of average Americans banded together online organizing in a Reddit group called WallStreetBets to buy GameStop stock.
Because it was being heavily (and perhaps illegally) aggressively shorted by hedge funds in an attempt to bankrupt the company.
Then thousands of Americans jumped in, bought the stock together, and forced what’s know as a short squeeze….creating perhaps the biggest short squeeze I have ever seen in my life.
The result was hedge funds losing multiple billions of dollars!
More @ WLT
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