Why would anyone buy GME now? The original goal was to take advantage of the big hedges putting a ridiculous amount of put options on it. The stock has little intrinsic value due to poor fundamentals and by now the hedges have moved onto targets with less eyes on them.
I think the hedge funds routinely route each other is they can figure out an angle. As soon as they figured out how fragile his position was they piled on knowing he would have to cover.
Why would anyone buy GME now? The original goal was to take advantage of the big hedges putting a ridiculous amount of put options on it. The stock has little intrinsic value due to poor fundamentals and by now the hedges have moved onto targets with less eyes on them.
I think the hedge funds routinely route each other is they can figure out an angle. As soon as they figured out how fragile his position was they piled on knowing he would have to cover.