this post was submitted on 24 Feb 2021
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I don't mean to revive the frenzy that was the GME stock fiasco from a month ago, but for folks that have tuned out since then (an understandable thing to do), the saga didn't end after the massive price spike was squashed. Hedge funds involved appear to be shorting and shorting the stock endlessly in an effort to (as far as I can tell) bankrupt Gamestop (this is the only way so far as I can tell that these hedgefunds would escape this situation victoriously). At this point, when this bubble pops, I reckon that this is going to be absolutely catastrophic as the entire market contracts in order to cover the debts that they've incurred by shorting this so much.

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