I think stock trading may have just changed permanently...younger retail investors realizing they can use social media platforms and Robinhood to crush Wall Street. Wonder what stock is next?!
Hedge funds have been prosecuted for this before. This might be the first time they got it back at them tho.
The redditors should be ok. Investing is fine, naked shorting is illegal. The fund was shorting naked so it will be tough to say they were innocent victims.
Hedge funds have been prosecuted for this before. This might be the first time they got it back at them tho.
The redditors should be ok. Investing is fine, naked shorting is illegal. The fund was shorting naked so it will be tough to say they were innocent victims.
They're calling it the Reddit Rebellion LOL.
This is bigger than you realize dude.
Most of them are not into it for the money.
And note that when reddit can do it, Chyna can do it better with their boxcars full of dollars.
https://twitter.com/WSBConsensus/status/1354233408835219461