So they borrowed other people's shares and have to return them. And its not just a few, GameStop is currently shorted at 140% meaning there are more short contracts than there are shares of GME in circulation right now. Hedge funds will be forced to close those contracts and then a bunch of reddit nerds (like me) are going to sell some boomer billionaires GME stock for an insane amount per share. Oh, and they have to pay money everyday the stock is in the green meaning they can't long con it, there is more pressure everyday to move off the shorts. I am an idiot and I just read this from reddit. I also currently own 65 shares of GME lmaooooo
So they borrowed other people's shares and have to return them. And its not just a few, GameStop is currently shorted at 140% meaning there are more short contracts than there are shares of GME in circulation right now. Hedge funds will be forced to close those contracts and then a bunch of reddit nerds (like me) are going to sell some boomer billionaires GME stock for an insane amount per share. Oh, and they have to pay money everyday the stock is in the green meaning they can't long con it, there is more pressure everyday to move off the shorts. I am an idiot and I just read this from reddit. I also currently own 65 shares of GME lmaooooo