This whole thing is hilarious to me. And kinda sad. The narrative that this was somehow David sticking it to Goliath was laughable. A bunch of people spotted a

This whole thing is hilarious to me. And kinda sad. The narrative that this was somehow David sticking it to Goliath was laughable. A bunch of people spotted an opportunity and managed to profit from it. Good for them. But a bunch of hedge funds jumped onto the long side too. What's more encouraging the mass buying frenzy is classic Ponzi scheme material. And shock, horror I see there's a potential securities investigation. With all the people jumping in at $300+, someone was going to sell first and everyone else would be left holding the bag. Anyone involved in this pump and dump isn't profiting from hedge funds. They're profiting from the naive, uninformed, greedy and foolish who are jumping in on this far too late. Likewise, the narrative that Robinhood or its owners were somehow defending hedge funds also doesn't hold water. Robinhood Instant lends money so people can buy immediately. They borrowed nearly $1B to cover these loans and the buying frenzied posed a potential existential threat to RH. Calls for everyone to hold were equally self-serving and were never going to happen. Sufficiently large markets just don't work that way. Markets only work at all because eventually everyone acts in their own best interests. And now we have these David wannabees sparring over movie deals. I said at the time: this is a one-off. Hedge fund risk managers won't be caught out with so much open short interest again. I hope some of the paper millionaires cashed out and didn't ride this all the way up and then all the way down. But encouraging other people to buy when you already own is at best ethically questionable.