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The short sellers? Who exactly? It's not Melvin. How much are these shorts? Where are you getting your information? Are you really taking financial advice from

The short sellers? Who exactly? It's not Melvin. How much are these shorts? Where are you getting your information? Are you really taking financial advice from Reddit trolls and unsourced Tweets? I really want to emphasize how naïve this is.

DennisP 6y ago
No, I'm not a participant. Maybe rein in the condescension and learn something about what happened here. It's been all over the nightly news and the financial press. I'll get you started with an article from Fortune: > And while the traders on r/wallstreetbets—the Reddit forum that kicked off the unlikely rally for GameStop stock—may be racking up profits, the damage is accumulating for short-sellers, the investors and hedge funds who bet against, or "short," the stock. By Friday, short-sellers had lost $19.75 billion on GameStop so far this month alone, according to S3 Partners, a New York–based firm that tracks short positions on U.S. stocks. > The losses have hit hedge funds shorting GameStop including Steve Cohen's Point72, as well as other high-profile short-sellers like Andrew Left, who runs Citron Research, a firm that built a reputation for publishing reports on stocks he believed were destined to fall. > After announcing last week that he was shorting GameStop when the stock was trading around $40, Left said Wednesday that he had largely abandoned the trade "at a loss 100%," covering the short—or buying back the stock—when it reached the $90 range. https://fortune.com/2021/01/29/gamestop-stock-how-much-hedge-funds-have-lost-sellers-losses-gme-steve-cohen-point72-andrew-left-citron-research-short-squeeze/ https://fortune.com/2021/01/29/gamestop-stock-how-much-hedge...
- mike00632 6y ago
  Hey, it's some days later and GameStop is down, hedgefunds made money and tons of ignorant, new traders lost money. You couldn't have been more wrong. "Winners of the GameStop rally included wealthy Wall Street hedge funds - The Washington Post" https://www-washingtonpost-com.cdn.ampproject.org/v/s/www.washingtonpost.com/business/2021/02/08/gamestop-wallstreet-wealth/ https://www-washingtonpost-com.cdn.ampproject.org/v/s/www.wa...

DennisP 6y ago

No, I'm not a participant. Maybe rein in the condescension and learn something about what happened here. It's been all over the nightly news and the financial press. I'll get you started with an article from Fortune: > And while the traders on r/wallstreetbets—the Reddit forum that kicked off the unlikely rally for GameStop stock—may be racking up profits, the damage is accumulating for short-sellers, the investors and hedge funds who bet against, or "short," the stock. By Friday, short-sellers had lost $19.75 billion on GameStop so far this month alone, according to S3 Partners, a New York–based firm that tracks short positions on U.S. stocks. > The losses have hit hedge funds shorting GameStop including Steve Cohen's Point72, as well as other high-profile short-sellers like Andrew Left, who runs Citron Research, a firm that built a reputation for publishing reports on stocks he believed were destined to fall. > After announcing last week that he was shorting GameStop when the stock was trading around $40, Left said Wednesday that he had largely abandoned the trade "at a loss 100%," covering the short—or buying back the stock—when it reached the $90 range. https://fortune.com/2021/01/29/gamestop-stock-how-much-hedge-funds-have-lost-sellers-losses-gme-steve-cohen-point72-andrew-left-citron-research-short-squeeze/ https://fortune.com/2021/01/29/gamestop-stock-how-much-hedge...

mike00632 6y ago
Hey, it's some days later and GameStop is down, hedgefunds made money and tons of ignorant, new traders lost money. You couldn't have been more wrong. "Winners of the GameStop rally included wealthy Wall Street hedge funds - The Washington Post" https://www-washingtonpost-com.cdn.ampproject.org/v/s/www.washingtonpost.com/business/2021/02/08/gamestop-wallstreet-wealth/ https://www-washingtonpost-com.cdn.ampproject.org/v/s/www.wa...