At precisely 2:32pm Eastern time on May 6, 2010, the US stock market started to drop.
Early explanations pointed to the big investment banks and their high-tech trading algorithms, i.e. software that could buy and sell stocks without human involvement.
If you've been following the news, you are probably aware that there are a few stocks right now- most notably GameStop, that have soared to incredible heights in a matter of days, thanks to a zealous group of individual investors on reddit and TikTok.
A handful of hedge funds have been betting that GameStop will go out of business soon, or at least that the stock price will continue to decline.
So these funds shorted the stock in a huge way, selling more shares of the company than were actually in existence.
' So they've banded together and bid up the price of GameStop's stock to absolutely epic levels.
If you think the stock market is rigged, you don't have to play.
https://www.sovereignman.com/trends/this-is-a-financial-revolution-30629/
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