Your comment neatly summarizes everything that is incorrect about the conventional wisdom of the past couple days. People think this is somehow “taking money from hedge funds”. When the short squeeze happens (if it happens), do you think that the retail traders who yolo’d their savings (there are many of these) will be the ones to sell at the correct second? No.
Maybe one or two hedge funds will declare bankruptcy. The rest will rake in the dough. And a large number of stupid people will find themselves poorer.
Personally, I’m not for over-regulation. To some extent, people need to take personal responsibility. But conning the stupid is immoral.
The many ill-informed twitterati, pseudo-intellectuals, and political grifters who have taken to cheering a transparent pump n dump will find themselves in an awkward situation in the next few weeks.
Maybe one or two hedge funds will declare bankruptcy. The rest will rake in the dough. And a large number of stupid people will find themselves poorer.
Personally, I’m not for over-regulation. To some extent, people need to take personal responsibility. But conning the stupid is immoral.
The many ill-informed twitterati, pseudo-intellectuals, and political grifters who have taken to cheering a transparent pump n dump will find themselves in an awkward situation in the next few weeks.