I seriously doubt that the Wall Street situation can hold out until after the Senate Filibuster situation gets resolved, if they ever do remove or water down the filibuster at all. So this seems like a likely outcome.
They're gonna bail out Wall Street again. Fucking again.
And not just bail them out. IMMEDIATELY bail them out.
:obama-drone: uhhhh.... Muh legacy
Robinhood and other apps have stopped letting you buy GME stock, and only letting you sell. People panic sold and increased the size of available stock, halving the price. If this market manipulation succeeds, there might not need to be a bailout, because all the retail traders will be fucked.
Have you seen any quantitative data on a panic sell? The drop in price can also be explained simply by the fact that buying has been halted for the largest purchaser of GME. If there isn't a massive influx of GME sales, the short sellers are still in an impossible situation.
There was a pretty big influx of shares over an hour that caused the price to go from over 400 to 132, but the price is back up to about 270 after traders in other countries started buying. I think most of that sell was from the normal people who got in late with small shares, because WSB has been screaming to hold.
I've read some analysis that major hedge funds. which shorted GME are selling shares back and forth between each other to artificially reduce the price.
This seems to be the general consensus over at Reddit. I hope they're right because I put some cash into GME instead of my savings this week... it wasn't much, but my partner recently lost their health insurance and almost definitely caught COVID from work. The money I invested wouldn't have made a dent either way if we need the hospital, so I'm taking a gamble and hoping for the best.
It is a gamble because these capitalists are immensely powerful. The short squeezers are in a winning position, but we do not know the degree to which they can bend the rules. If they bend the rules, it may deepen the financial crisis, so they may be forced to pay out.
I hope everything works out, comrade.
That's crazy
Reuters is reporting they lost $56b between the middle of yesterday and now [1] This is absurd.