A community for the latest discussions about the cutting edge of crypto design, it's culture and significant crypto news. Decentralize everything. Check out our [Community Guidelines](https://relevant.community/crypto/post/6122269e61d1cd005a877277/62427d3ed587ad005b647828)
53748 Members
We'll be adding more communities soon!
© 2020 Relevant Protocols Inc.
A community for the latest discussions about the cutting edge of crypto design, it's culture and significant crypto news. Decentralize everything. Check out our [Community Guidelines](https://relevant.community/crypto/post/6122269e61d1cd005a877277/62427d3ed587ad005b647828)
53748 Members
We'll be adding more communities soon!
© 2020 Relevant Protocols Inc.
Relevant
Hot
New
Spam
Relevant
Hot
New
Spam
0
61.3
0
61.3
As a reminder, some hedge funds decided to short the GameStop stock, but WSB members coordinated their action to long the price and pushed the market up as much as to push the hedge funds’ positions to liquidation, pushing the price even higher. As a result of the market going in the “wrong” direction (i.e., hedge funds not making money), Robinhood was forced (by whom?) to close access to trading the GameStop stock. (About half of Robinhood users had a position on GameStop.) Now these users can only sell their positions to push the market back down again. That’s how far flagrant manipulation can go to keep the hedge funds’ “investment strategies” in the green.
As a reminder, some hedge funds decided to short the GameStop stock, but WSB members coordinated their action to long the price and pushed the market up as much as to push the hedge funds’ positions to liquidation, pushing the price even higher. As a result of the market going in the “wrong” direction (i.e., hedge funds not making money), Robinhood was forced (by whom?) to close access to trading the GameStop stock. (About half of Robinhood users had a position on GameStop.) Now these users can only sell their positions to push the market back down again. That’s how far flagrant manipulation can go to keep the hedge funds’ “investment strategies” in the green.
Some low-ranking comments may have been hidden.
Some low-ranking comments may have been hidden.