Not sure how much you guys are following it, but the subreddit WallStreetBets is in a stand off with shorting hedge fund managers. It's a really interesting fight and has driven the stock of Gamestop from about $5 half a year ago, to over $200 (after hours trading today). WSB is holding on specifically to screw the hedge fund managers, many of whom are losing billions as their short bets are called.
The other interesting aspect is how it is being portrayed in the media. Somehow with a straight face they are painting the hedge fund managers as victims of potential market manipulation by "infamous", "underworld" WSB (I've seen both descriptions used).
I'm sure Congress will step in eventually, but regardless it's REALLY interesting to see.
The other interesting aspect is how it is being portrayed in the media. Somehow with a straight face they are painting the hedge fund managers as victims of potential market manipulation by "infamous", "underworld" WSB (I've seen both descriptions used).
I'm sure Congress will step in eventually, but regardless it's REALLY interesting to see.
