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Thread: Reddit Trolls Wall St. Hedge Funds, Buying Up GameStop Stock

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  1. 01-26-2021, 11:59 PM #1
    dannno
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    Reddit Trolls Wall St. Hedge Funds, Buying Up GameStop Stock

    GameStop (GME) was expected to go bankrupt, so some Wall St. hedge funds (notably Melvin Capital) put down some serious short sells on their stock.

    Reddit took notice, and coordinated an attack and have driven the price of Gamestop (GME) up from about $40 a week ago to $209 currently.

    Some of the firms, notably Melvin Capital, have doubled down and gone to investors for billions in financial backing to cover their margin calls.

    https://www.buzzfeednews.com/article...t-stock-shares
    Last edited by dannno; 01-27-2021 at 12:08 AM.
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