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There's a reason I've been following the story. There is nothing new about hedge funds naked shorting (essentially counterfitting) shares, and nothing new in
by david927 5y ago
There's a reason I've been following the story. There is nothing new about hedge funds naked shorting (essentially counterfitting) shares, and nothing new in the SEC's refusal to do anything about it.
What's new here is that this is the first time in history that retail has simply used collective buying power to catch them out at it. By simply en masse buying and holding directly registered shares, it puts them over a barrel.
The statements that it's war or what could happen aren't hyperbole -- and I find that fascinating. We'll see...