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Old 27th January 2021, 12:33     #451
Cyberbob
 
It's amazing stuff. I've been following it for a while now. Kinda sad I don't have the means to be a part of it. Looks incredible.

Reached beyond $200 after hours today after Elon Musk tweeted.

Melvin is going down, as there's more shorted than what is in circulation.

A lot of retail investors are going to get rich.

long story short: Melvin and other hedge funds borrow the stock, sell it, then wait for the price to drop to buy it back then return the stock to the owner. If the price goes up during that time, they're forced to buy it back for more than what they sold it for. Which is happening in the billions.
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Last edited by Cyberbob : 27th January 2021 at 12:37.
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