Man I love this. Dumbass greedy hedge fund A holes that literally think they drive the markets (and do usually), get massively screwed by the populace that's had enough of their controlling behavior.
It's a free market, and they bet big and lost. That's how it works. I can only hope that the gov doesn't somehow bail them out. I'm not a socialist and not a democrat and not a Bernie etc etc, but I do believe funds like this have too much control and also hoard a lot of the nations wealth among a handful of privileged people. -----Original Message----- From: AF <[email protected]> On Behalf Of Robert Andrews Sent: Thursday, January 28, 2021 11:13 AM To: [email protected] Subject: Re: [AFMUG] Ot: gamestop About right & add a couple of numbers. Stock was at $20, hedge funds were trying to drive it to $10 by throwing shade. Shorts have to be covered at certain risk points. Reddit'ers in a market bet group saw that the hedges had shorted it by ( get this ) 130% of released stock!!! ( how they can borrow more than 100% is apparently allowed in futures (bad)).. Redditors drove it to $147/share and the hedge funds and one in particular were $137 BILLION in the red. The one that was going BK borrowed $76 Billion to cover from another hedge and briefly sent it back down _for a couple of hours_ till the redditors dug in again. ( they know that the short _has_ to be covered. Then it got serious. Musk and some other really rich people who have been burned by hedge funds doing this to them ( Telsa stock had been depressed for years by this ) decided that it was time for the chicken to come home to roost. They decided to throw $$ at it that they don't really worry about. What's 10 million to Musk? Today I saw it trading briefly at $390. Wall Street is rallying behind the hedges and calling in all the favors due. PR, Congress, investors like public retirements, etc. They are going to push for legislation. Truly a screw you between two groups. I'm warming up the popcorn... Best comment I've seen from the Hedge fund CEO. I've lost my company, my house, my cars, my boat, my wife, how could you do this for "fun" Responses were hilarious... Like, "Didn't you put any away for a rainy day?" On 01/28/2021 09:31 AM, David Coudron wrote: > My wife has been following this, so I am relating second hand > information. This is the way I understand it. > > A hedge fund guy has been bashing game stop for some time. Says > business is outdated. Terrible stock, etc. Turns out the his fund > owned a bunch of it and had been betting on it going down and short sold > it. Gamers got pissed about bashing game stop and organized a buy of a > bunch of stock. Stock price went way up, and now the hedge fund who > had short sold it, had to buy back at high prices. Lost $10 Billion > last time she looked. They stepped in to keep the hedge fund from > collapsing. > > That is what I understand anyway. > > Regards, > > David Coudron > > *From:* AF <[email protected]> *On Behalf Of * Steve Jones > *Sent:* Thursday, January 28, 2021 11:26 AM > *To:* AnimalFarm Microwave Users Group <[email protected]> > *Subject:* [AFMUG] Ot: gamestop > > Can someone break this down for me to a window licker level of dumb? > > If i understand it, hedgefund operators banked on the price going > down, so shit posters rallied together to drive it up, and on friday > the hedgefund operators are forced to purchase at the inflated price? > Is this the gist? > > Now government is trying to step in to protect the hedgefunds from the > shitposters? > > > -- AF mailing list [email protected] http://af.afmug.com/mailman/listinfo/af_af.afmug.com -- AF mailing list [email protected] http://af.afmug.com/mailman/listinfo/af_af.afmug.com
