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Spot on. The idea that this is some sort of history-changing revolution is just laughable.

• tinus_hn 6y ago
  The stock will of course go down again but it remains to be seen if these hedge funds can recover from their 60 billion dollar losses. It is no question whether this event will have far reaching consequences. With the SEC reacting to actions directed by common people something has changed fundamentally.
  • robertoandred 6y ago
    Hedge funds have not lost $60 billion on GameStop.
    • tinus_hn 6y ago
      https://www.reuters.com/article/us-retail-trading-shortbets-idUSKBN29X1SW https://www.reuters.com/article/us-retail-trading-shortbets-...
      • robertoandred 6y ago
        > Its data also showed that estimated losses from shorting GameStop at $1.03 billion year-to-date That’s not $60 billion.
        • BoorishBears 6y ago
          And gains for hedge funds playing this frenzy are probably higher than 1 billion
        • chokeartist 6y ago
          Not yet, but it has the potential to be at the current clip (price). That's why this is a huge game of chicken. Will r/WSB buckle, or will the Hedge Funds?
    • imtringued 6y ago
      Short sellers lost $60 billion across the entire market though.