For those who missed the drama WSB just went private over some drama around the Twitter feed and the possibility of institutions hanging up with SEC to take action against retail.
So a question for the more financially literate traders: what is shadier, a bunch of jackasses finding a short squeeze opportunity and laughing about it online while making fun of each other or institutions short selling stock they don’t actually own and suppressing the price to ensure they profit?
The question of regulation came up. Obviously the lobbyists are with the institutions but what if we retailers start writing to our senators and congressmen now asking for an end to short selling? If there’s no short selling there’s no short squeezing.
I dunno, just thought I’d post something to talk about here other than whether the market is overvalued.
Edit: I know a bunch of WSBers are going to flock here without WSB up for a few hours. The intention of this post wasn’t just to talk about WSB going down or I would have put it in r/subredditdrama . Im genuinely looking for a conversation about short selling in general. IMO it’s unethical and it’s only purpose is to drain money from retail investors by suppressing prices. Since the spotlight is on the GME squeeze why not focus the attention there?
Submitted January 22, 2021 at 12:02AM by Autumus_Prime https://ift.tt/3sPyR5p
