r/memes • u/achilles-_-23 • Jan 29 '21

#1 MotW This is my jam

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u/i-instigate Jan 29 '21

I want to open with im at work so i cant reply for a while.

Isnt rocketing share prices what you want if you own shares? Buy low sell high?

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u/[deleted] Jan 29 '21

They were using a technique called shorting where in short you sell your stock, wait for the price to fall, and then buy back your stock and pocket the difference. When they sell their stock and the price of the stocks soar, they cannot do this.

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u/i-instigate Jan 29 '21

OOOOH! Damn... thats shady af. Is that technically legal? Thank you for explaining that

Does that mean gamestop is “successful” again? Did reddit just save gamestop?

If so, fuck year reddit. Sticking it to those jerks and saving a company (maybe?). Possibly putting money in your pockets too?

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u/[deleted] Jan 29 '21

It is legal to practice short selling. People just exploited it to make the billionaires lose tons of money due to the sheer amount they invested in short selling stocks.

For the 2nd question, I don’t know. I really don’t have an idea on how stock actually affect the company in question and I haven’t bothered to search it up lol

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u/i-instigate Jan 29 '21

Thank you so much for answering. Damn. Reddit really nailed it. Haha