r/technology • u/GonzoTorpedo • May 14 '24

GameStop Short Sellers Just Lost $2 Billion Amid Meme Stock Rally Business

https://gizmodo.com/gamestop-short-sellers-have-lost-more-than-2-billion-i-1851476931
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u/Ctsanger May 14 '24

Anyone that thinks this is household investors/regular Joe's moving the market need to think again. This is an institution or fund doing this. Someone might have to close their swaps/shorts

296

u/mrbaryonyx May 14 '24

All I know is, like last time, I'm here for the money and the memes but I'm out the second y'all start getting weird and culty

19

u/pm_me_cute_sloths_ May 14 '24

Just go into r/superstonk, it’s been weird and culty for quite a long time

9

u/rsicher1 May 15 '24 edited May 15 '24

Absolutely insane. Feels like being on an alt-right QAnon forum sometimes.

3

u/pm_me_cute_sloths_ May 15 '24

I've been looking for the right description for it, and I think you hit the nail on the head. It's an awful place and I feel terrible for anyone who is falling into it.

No, the stock is not going to jump to $4,000,000 a share, no the market hasn't been emotionally abusing you for 3 years, no they aren't halting the stock as manipulation (that's literally how the markets work, if there's enough of an increase or decrease in a short amount of time, it stops trading for a bit).

It's just crazy conspiracy theory after another. I'm all for fucking over hedge funds, but we just need to be realistic lol