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this post was submitted on 23 Feb 2024
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Lol in the article it says ppls proposed shotlrting Reddit stock. I love some of those apes so much, they got great ideas.
I'm retard.
What actually happened to the gamestop thing. Did the government end up getting involved and shutting it down? There was some shady shit going on for a while.
How would reddit even tank the price? Shorting is just a way for them to lose money if they are wrong.
The GME thing resulted in lots of people losing lots of money, whereas many of them were convinced they were going to become millionaires.
The "GME thing" resulted in a couple of hedge fund firms going belly up. So yes, you are correct that a lot of people lost a lot of money. A few people did become millionaires from the fiasco.
Sure, at the very beginning there was some action for those very few early enough to the party, but the vast majority of people who bought in to GME did so after this happened and have only lost money.