/biz/ - Business & Finance

>>27753976
Do you know how markets work? People buy and sell. There were still a lot of outstanding shares. Melvin borrowed 2.3B to buy back some shares and reposition their options next year to Jan 2022. That's what caused the spike to 500 on Wednesday. The Thursday news are always lagging indicators. If we are going by news articles, Melvin lost 53% of their capital during this fiasco. The shortys bought up the shares that were being sold from other hedge funds and asset managers during after hours and unloaded when the market opened.
Don't compare this short squeeze situation as WV situation. Porsche owns WV and vice versa, so they could afford to buy up all the shares of their own company so the shortys couldn't cover. There is nobody or no company like that in this situation so Melvin could afford to cover.

>>27749470
Do you know how markets work? People buy and sell. There were still a lot of outstanding shares. Melvin borrowed 2.3B to buy back some shares and reposition their options. If we are going by news articles, Melvin lost 53% of their capital during this fiasco. The shortys bought up the shares that were being sold from other hedge funds and asset managers during after hours and unloaded when the market opened.
Don't compare this short squeeze situation as WV situation. Porsche owns WV and vice versa, so they could afford to buy up all the shares of their own company so the shortys couldn't cover. There is nobody or no company like that in this situation so Melvin could afford to cover.

This sickens me I'm going to puke.
BlackRock made 2.6BILLION DOLLARS as a GME investor meanwhile everyone else that bought lost money and are holding the bags. Post this to /wsb/ reddit. We need to start a WallStreet Revolution 2.0 to take down BlackRock with our retail money.
Revolution! Who's with me? G-guys? H-H-Hello? Anybody? A-Anybody there?