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I think of it as the first crowd-sourced takedown of a hedge fund. It is incredibly interesting and I hope they pull it off. There's a user whose username is NSFW that invested something like $50k back in september 2019. He's been posting daily screenshots of his balance. He's now worth north of $44 million based on that one move. He's pretty much the reddit hero. Once he sells the whole thing is going to come crashing down.First I’ve heard of this, what’s happening?
So it’s ok for hedge funds to game the market and drive companies to bankruptcy to squeeze every last cent out of them, while if individuals try to exercise their right to buy stocks in a free market are blocked (TD and Robinhood)?As "funny" as this first appears, it risks taking down the entire market as affected firms will inevitably sell off long-positions to raise funds to cover the losses. Overall, a poorly conceived plan devised by those lacking market savvy. Stupid is as stupid does.
Big Short 2 (Reddit Strikes Back)
Have found something to help me understand this