Quote:
Originally Posted by suzzer99
But is it that different than hedge funds shorting the hell out of a stock to deliberately try to choke the life out of a company?
Some good stuff here from Chamath.
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Well, it's certainly DIFFERENT. That doesn't make it any better or worse, though, which I think is your point.
My concern is mainly that, while it's funny in a way to see big hedge funds get slapped I guess, the people who are currently "investing" in GME don't have any real reason for doing so. Yes, the shorts having to sell is pushing the price higher right now, but very soon the bottom will inevitably drop out, and people are going to lose a ton of money. And the losers aren't going to be hedge fund owners - they'll be all of the people who got caught up in the hysteria on WSB.
In the end, it's a lose-lose situation for all except the handful who manage to get lucky and time it perfectly.