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Very true. But aren't the redditors simply doing what hedge fund short sellers are doing anyway? If a company that is being aggressively shorted goes bust then investors lose money, people lose jobs and the owners lose their money.
Same thing with a hedge fund.
We're talking about trading here, since when is the motivation behind wanting to make a profit become an issue?
When there was the Herbalife short squeeze battle did it matter what the motivations were?
All the redditors are doing is exposing a gaping flaw in the market which has been exploited in the past by industry insiders to make money off each other. But now normal people are doing it and it means that one side making money isn't one of the big boys and THAT can't happen. Ever.
Short squeezes among industry players? Hey it's part of the big game!
Short squeezes when the person profiting is a normal person? It shouldn't be allowed!
And so what if they're trying to destroy hedge funds? It's not as if hedge funds are utilising capitalism to get wealthy. As 2008 showed it's just the little guy that goes bust if they make a bad decision. Let's see if the hedgies really ARE capitalists and are willing to own their losses. Humans adapt. Markets adapt. They haven't. They should pay the price under the capitalist model for not realising their mistake.
What if people have $1000 of cash in their accounts and want to buy $1000 of GME stock? Is everyone on robinhood trading on margin? I somehow doubt that.
I am curious about where these people are getting the data for "Most Shorted Stocks"? I have poked around the web a little and have not found any two sites that have the same data.
Does any one know of a reliable source for "Most Shorted Stocks"?
IBKR chairman on CNBC was asked by the anchor if they were pressured into banning the possibility to open on some equities and he pretty much said they had made their own decision based on their subjective interpretation of the longs motives.
I haven't looked I am only speculating but I do not believe every long gme position on RH was involuntarily liquidated. My suspicion was that only margined positions were I could be wrong. If so that would very definitely ad to the drama.
I think that would be very reliable. I know you can check finviz for the number of shares float. I was searching for a "hard to borrow list" for think or swim but couldn't find one.
Indeed, their automated “Stop Loss” algo’s caused a huge Short Squeeze and they picked up the phones and as Market Makers, threatened the brokers who subsequently restricted the ability of Retail Traders from accessing the markets which caused a “ Freefall” in price to stop the bleeding by the Big Boys.
