Someone posted this which was a great help to understand, beautiful pic.twitter.com/uCq7Lwmakq
— chimpsky™ (@_chimpsky) January 28, 2021
GameStop has captured the headlines, with certain sections of the media and social media salivating over the alleged comeuppance of the hedge funds.
In the short term some hedge funds have lost a lot of money (maybe to the point of bankruptcy) others haven't, and indeed have done very well out of the rise in the GameStop's share price.
However, be under no illusions, the rise in price is not based on market fundamentals or a sound business model. It is based on hype, greed and a well organised pump and dump operation.
At some stage in the next few days an awful lot of retail traders are going to wake up with significant losses (it is currently down 44% on the previous day). When that happens they will blame the markets for allowing them to trade.
Oh, but hang on.....the markets did apply circuit breakers to retail trades.
What happened?
The politicians and media cried foul play!
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