This is undoubtedly a sticky-worthy happening. Overview:
Louis Rossmann: Why MSM's slander of /r/wallstreetbets pisses me off regarding GME
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Both sides acted legally. Short selling is not some advanced tactic like the derivatives market that contributed to the 2008 crash.
It’s going to suck for the redditors buying GameStop at the high in all of this because the price is just going to correct to where it should be once this is all said and done.
Hedge funds suffered a huge loss, they knew the risk.
The problem is going to be the unintended consequences in all of this:
Is the SEC going to try to clamp down on the r/wallstreetbets of the internet?
Is there going to be a government bailout of these institutional investors who took these risks?
Is the damage is this going to be so big that this is the catalyst for a wider market crash, that has been in the works anyway?
Those 3 points are the issues I see with this whole thing.
I am too. I did very well selling everything I had in the market in February last year. I bought back in prematurely but I couldn’t be happier with how it worked out. I’m looking to do the same this time around. I’m confident it’s going to crash, the question is just when, and will this GME situation be the catalyst.