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Reddit Warns That r/WallStreetBets Could Wreak Havoc on Its Stock Price (gizmodo.com)

submitted 9 months ago by return2ozma@lemmy.world to c/technology@lemmy.world

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[–] Coreidan@lemmy.world 2 points 9 months ago

They increased their offer price. Still nobody to buy it from. They increased the offer again. Still nobody to buy it from. And as more shorts matured and more people were legally obligated to buy the stock, the more the price increased.

This is nonsense. The SEC already came out with a report confirming that the run up on GameStop wasn’t caused by shorts closing.

Hedge funds are short game stop. They are still short on GameStop. The real squeeze hasn’t happened yet. Whether it will or not is another debate.