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For months the so-called smart money hedge funds had been short- selling shares of GameStop and other similar companies – betting they would file for bankruptcy and the shares w...
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For months the so-called smart money hedge funds had been short- selling shares of GameStop and other similar companies – betting they would file for bankruptcy and the shares would become worthless. Then the short-sellers could “cover their shorts” – buy the stock for just pennies to complete their transaction. They planned to book huge profits!
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Gamestop
Small investors, gathering together on online message boards like Reddit, decided to start buying the stock – and pushing the price up sharply.
Small investors, gathering together on online message boards like Reddit, decided to start buying the stock – and pushing the price up sharply.
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