Just watched “Dumb Money”
About the “Gamestop Squeeze”
A young not very well off investor with an online presence
Noticed big Hedge Funds were shorting Gamestop.
This young guy had been a Gamestop customer since it started and knew its strengths with its customer base.
He started buying stock and talking online about its great points and how he felt it was under valued and how the hedge funds were shorting it. Big guys attacking a loved store of the little guys.
The stock started to rise gaining momentum.
Most trades were with Robinhood that didnt charge commission but whose deals went through some hedge mob and they got commissions that way.
The Hedge mob was losing billions bc of the Gamestop squeeze, so pressured Robin
Hood to put a halt on buys of GameStop stopping small investorm, buying.
The end result. Those that lost fortunes, those that made fortunes, a mixture in between.
Hedge funds generally since, scour online to monitor retail. Some lost so much, they went bust.
They’ve pulled their reigns in on shorting.
There was a govt enquiry.
The young guy testified and spoke how these funds have the upper hand and the little bloke trying to make a nest egg is in the losing position..
Thats why, to be alert to what ppl write here. Little blokes dont hammer and hammer that the company they have pinned some dreams on, is cactus.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)