424 upvotes, 10 direct replies (showing 10)
WSB is going *wild* right now. It’s a good day in the universe when the little guys beat the hedge funds. This could easily bankrupt at least one very large, previously successful fund
Comment by Cryptoporticus at 27/01/2021 at 01:37 UTC
357 upvotes, 17 direct replies
WSB suffers from the same "only good news" problem that /r/bitcoin does. It's impossible to tell if things are actually going well because they only upvote stories that give them the good news. Anyone expressing any doubt is going to get pushed down, making it look like things are way better than they really are.
I look on various news sites and see articles that say the big hedge funds are going to come back and win against the little guys, but they all just seem like wishful thinking. But then I look at WSB and see articles saying that they're going to win and the price is going to the moon, which seems equally like wishful thinking. Both sides are desperately doing whatever they can to push the price in their favour.
What's the real story here? I would love to see a group of dumbasses on the internet take down a hedge fund, but I've seen enough of how the USA works to know that shit is probably never going to happen.
Comment by [deleted] at 27/01/2021 at 03:56 UTC
15 upvotes, 1 direct replies
This could easily bankrupt at least one very large, previously successful fund
Did you know that bankrupt firms don't do? Buy back their short positions.
Comment by npsimons at 27/01/2021 at 17:11 UTC
3 upvotes, 2 direct replies
This could easily bankrupt at least one very large, previously successful fund
Please don't leave out that this is a fund notorious for shorting, and part of that shorting is (allegedly) manipulating the market so the share price will go down, ie destroying a company for profit. It's not like grandma and grandad's retirement portfolios are at risk, this is some greedy already way too rich fucks trying to destroy a company to get even richer, and a million monkeys have thrown a wrench in the works.
Comment by WileEPeyote at 27/01/2021 at 23:48 UTC*
2 upvotes, 1 direct replies
Damn, they just went private. I was even subscribed (though only since this morning) and now I can't watch the craziness anymore.
EDIT: and they're back.
Comment by SinisterPuppy at 27/01/2021 at 04:28 UTC
3 upvotes, 1 direct replies
Bro no firm invests enough into a single short that the stock going up bankrupts them.
Comment by social_meteor_2020 at 27/01/2021 at 01:32 UTC
3 upvotes, 3 direct replies
Lol, no. The fund will just crush them after hours. It's news because no one ever challenges the established funds.
Comment by [deleted] at 27/01/2021 at 06:22 UTC
2 upvotes, 0 direct replies
It already has. Bye bye Melvin
Comment by William_T_Wanker at 27/01/2021 at 02:59 UTC
-3 upvotes, 5 direct replies
"little guys"
Ah yes, wealthy upper middle class rich kids are sticking it to the wealthy billionaires!
Comment by 420Fps at 27/01/2021 at 06:09 UTC
1 upvotes, 0 direct replies
Good
Comment by [deleted] at 27/01/2021 at 14:07 UTC
1 upvotes, 1 direct replies
I don’t think Melvin will actually go bankrupt. They have a pretty good track record and some pretty good people. If things continue going south I suspect they’ll get bought out.