I'm not sure if this is supposed to be posted here but I'm not sure this would be welcome in c/wallstreetbets (lmao) either. It's just sad and dispiriting. Not really gonna say more about this because it's been pretty draining tbh.

Also, before someone says "well I don't think it's WRONG to talk about this, and I don't think it's praxis, and y'know I had to pay rent and spent some money on this and I just like laughing at Melvin eating shit and...." cool, I'm not talking about you, you know which people I am talking about.

  • Awoo [she/her]
    ·
    4 years ago

    Idk where people are taking 70B in the hole from

    https://www.reuters.com/article/us-retail-trading-shortbets-idUSKBN29X1SW

    • Pezevenk [he/him]
      ·
      4 years ago

      This is about the total losses on short positions in the US this year, not just GameStop. Look what it says about GameStop:

      Its data also showed that estimated losses from shorting GameStop at $1.03 billion year-to-date, while those shorting Bed, Bath & Beyond were looking at a $600 million loss.

      The entire market cap of GameStop is like $25B.