I’ve read that the vast majority of GME stock is held by institutions, mainly a dozen or so Wall Street banks. Redditors apparently had enough pull to move the needle and drive a short squeeze, but it seems like these banks will be the main beneficiaries of the rising price. And as they offload more and more shares to Redditors at an inflated price, I’m guessing ultimately the Redditors will be left holding the bag when the price eventually comes back down to earth?
It seems like a few short-selling banks will take a beating, more banks will make a killing, and a lot of Redditors are going to die on the cross of “diamond hands.”
I don’t really know anything about the stock market though. This is interesting enough to watch from the sidelines.
It seems like a few short-selling banks will take a beating, more banks will make a killing, and a lot of Redditors are going to die on the cross of “diamond hands.”
I don’t really know anything about the stock market though. This is interesting enough to watch from the sidelines.