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NW IN | With all the GME news this week, a little snow pushing time this afternoon got my mind going.
The elites are out in force shrieking about legal this and legal that, Melvin covered their short (maybe), if this continues the whole system may fail, etc.
They are all in unison and seem to want to taunt the Reddit retail crowd.
So here's my question....
If a hedge fund or funds can short GME to the tune of 140% of outstanding shares, and some "bumpkins" (can't use what the WSB folks call each other...might melt some snowflakes) see it for what it is...and buy actual shares of GME, what laws have they broken?
The bigger question is if some "bumpkins" can buy a single stock with a market cap of about $1B, and crash the entire system according to the elites, do we really have a system that is worth keeping?
EDIT:. Put another way...if an upstart hedgie in "the club" did this to the old guard, would there be any outrage or would the upstart just take the whipping, lose all his money, and go home?
Ramblings on a snowy Sunday.
Edited by Tileman2 1/31/2021 15:06
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A deeper broad market question
