/biz/ - Business & Finance

why are you guys making fun of the GME losers? they were right. GME unironically was a infinite free money exploit in the market. its not their fault the government and elite changed the rules to prevent them from winning

GME literally almost took down the entire financial system for another 2008 recession, but worse. GME was objectively and irrefutably overshorted, by more shares than even exist.

the lending institutions and the banks that back were the ones who were going to be on the hook, leading to a cascading effect of liquidation of other assets to cover. and ultimately the federal government. in theory the stock price would be infinity. the only way this could end is if the government stepped in to declare an arbitrary cap on how much sellers could ask per share. or as we saw on thursday, shut down buyers from buying in an effort to stop the pileup and scare away current holders

do you really think the federal reserve would have been called to an emergency meeting over GME for any other reason?

>>27671957
reminder the gov is scared shiless so your retarded insults to reddit make no sense because what they are doing is actually working

https://www.politico.com/news/2021/02/02/gamestop-yellen-sec-465346

>>27662060
>>27662468
can someone explain why if everything was fine and there were no shorts about to go insolven for bllions of dollars, why would the SEC be calling an emergency meeting with the treasury and the federal reserve? because it seems more like they are panicking about having to plan for federal bailouts

https://www.politico.com/news/2021/02/02/gamestop-yellen-sec-465346

>>27604798
consider the following:
>you just ignored that short volume per day is 20%
>confirmed bloomberg terminal yesterday shows 89% short interest of total shares
>there is barely any float since everyone is holding
> .89 x 69.75million total shares is 62.07 million shares
> float is 46.89 million
>62.07 / 46.89 = 132%
>132% of floated shares are shorted

>>27594358
why do retards think its over whe its obvious that first peak was completely artificial from robinhood cutting off all buy demand

do you really think if it was over they would be panicking right now calling an emergency meeting with the fed reserve, treasury, SEC? over a meme stock named Gamestop??

https://www.politico.com/news/2021/02/02/gamestop-yellen-sec-465346