Quote:
Originally Posted by philfree
I question the motive of some of these Robinhood (and other platforms) traders. Are they just trying to make a buck or are they just out to screw up the hedge fund traders just because they can? We've been watching people destroy others business' all year so is this the same type behavior.
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We're talking about thousands of people, so concluding what "they" want is pretty tough. The subreddit itself is all about taking huge risks in hopes of huge payouts, so that's probably where it started - force the shorts to sell so that the price goes up and everyone can dump at the top.
Somewhere along the way, they realized that doing so would cause huge damage to a couple of hedge funds, and many believe such organizations to be at the root cause of a lot of economic problems, so some probably hopped on in hopes of sticking it to the man.
Then it got momentum, and you have random Joe's who don't really have any idea what they're doing but jumped on because they see people posting how much money they've "made." Eventually, the bottom is going to drop out, and it'll likely be these types that will get screwed.
So from my perspective, it's a little of everything.