Quote (ofthevoid @ Jan 27 2021 09:55am)
My opinion on what's happening with the Reddit stocks:
I was listening to this hedge fund guy podcast who was whining about losing money on his GME short and I was thinking to myself, this guy has no affiliation to Citron, is it just a coincidence that this hedge fund is also shorting GME at exactly the same time?
I find it hilarious and highly hypocritical that the 'professionals', the newsletter writers, the hedge funds, the professional money managers, etc are so up in arms about what's happening. These people have been doing this shit for years. It goes something like this:
>One or more hedge fund identifies some company to short based on sometimes truthful sometimes bs claims or analysis
>Their reports are circulated to other money managers who pile into these same short positions (sometimes these are orchestrated campaigns)
>The stock plummets maybe because their claims are true but much of the time the stock drops way below what it should have because of the extreme 'short' pressure from the pilling on.
So now these assholes are on the other side of what they've been doing for many years and all of a sudden they're crying and want regulators to do something about it?
More or less. The current pump is not because of market manipulation. The market manipulation was taking GME down to $4.