Take note!
"On Friday, Citron said it would not be commenting on GameStop any longer because of attacks from the “angry mob” that owns the stock."
@NunyaBidness The very fact that there even can be an "angry mob" worth mentioning sounds like someone screwed up badly.
Of course, the market is efficient, so after round one is over and these shorters get screwed, round two will probably result in WSB getting suckered into something...
Not before the contagion spreads though:
@NunyaBidness Yup. I will not be surprised if ~all the current short sellers get wiped out in this first round. But the strategy will change, and people will figure out how to profit from wsb.
Not saying you are wrong but think about this:
3 million users in that sub and only 3,726 FINRA-registered broker-dealers in 2017 in the US.
I know they aren't the only ones allowed to trade instruments but even if there were 3 million brokers in the US they aren't in communication like this.
It's going to be a really fun show to watch but there may be some VERY severe and long term effects of this is all I'm saying.
@NunyaBidness Not sure we're disagreeing really. The fact is, shorting more stock than actually exists is crazy, and obviously if those 3 million users take the risk, the shorters can get wiped out.
But there's guaranteed to be even _more_ sophisticated strategies at an even higher level of meta, involving manipulation of wsb. Though given the randomness of wsb, it'll probably be hard to make money on a big scale off that...
@NunyaBidness You know, in game theory, it's quite often that the mere existence of non-ideal/randomized actors radically changes the strategies that can work...
@pete
Agreed. Popcorn machine just got ordered from Amazon.