4 upvotes, 2 direct replies (showing 2)
View submission: Keith Gill (u/DeepFuckingValue) and The Gamestop Saga
Any care to explain why he wouldn't cash out?
Comment by pj_socks at 03/04/2023 at 18:52 UTC
25 upvotes, 0 direct replies
I believe the answer they’d give you would be 💎🙌
Comment by tatarjr at 28/04/2024 at 06:31 UTC
3 upvotes, 0 direct replies
It was because in a naked short, there's no theoritical maximum to the price of the stock. There were simply more short options in the market than there were GME stock, as in there were "100" pieces of stock but the money makers approved the trade of "120" short options for that stock.
In theory he was right, but in practice the rich guys called on their rich buddies to save their asses.