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I mean I feel like it was really “hold what you buy until the funds are forced out of all their short positions”, which (and maybe I’m wrong) means that the pri
by joshspankit 6y ago
I mean I feel like it was really “hold what you buy until the funds are forced out of all their short positions”, which (and maybe I’m wrong) means that the price would have kept climbing with no sells to bring it down.
- bmurphy1976 6y agoYes, that was the impetus for holding. Of course reality got messy really quick. I'm sure given enough time even if WSB were able to hold Wall Street would have figured out some way to exploit it. The other driver was the hope that the SEC would step in and do something to even the playing field, but that's unfortunately even less likely in my opinion.
- joshspankit 6y agoI was surprised that there wasn’t much coverage of the fact that the funds shorted again just at the peak ($480 or something) right as the buys were being halted for retail. That 100% smells like an exploit to me.
- newacct583 6y agoAgain though, that does not work. Because "holding" that stock does not prevent the very same share from being sold by someone else in a short trade. To maintain a price in a market you need to continue to buy the security. Again, this is just fundamental "Trading 101" stuff, and it's just amazing the extent to which the WSB community straight up refuses to believe it.