So basically what is going on in the stock market right now is huge.
A few weeks ago a redditor on wall streets noticed that a hedgefund had taken a massive amount of short position against Gamestop. They convinced everyone on the thread to do the same and buy as many stocks as possible. This position caused a huge soar in prices which made the hedgefunds lose billions. Estimated amount lost was close to 13billion, eventually leading to the hedgefunds closing their position and buying the gamestop shares at an even higher price, making the price rise in even higher this is called a short squeeze. The hedge fund eventually files for bankruptcy
Now the reddit thread is combing through the trades to determine which other hedgefund took a massive position so they can short squeeze them into bankruptcy as well
A few weeks ago a redditor on wall streets noticed that a hedgefund had taken a massive amount of short position against Gamestop. They convinced everyone on the thread to do the same and buy as many stocks as possible. This position caused a huge soar in prices which made the hedgefunds lose billions. Estimated amount lost was close to 13billion, eventually leading to the hedgefunds closing their position and buying the gamestop shares at an even higher price, making the price rise in even higher this is called a short squeeze. The hedge fund eventually files for bankruptcy
Now the reddit thread is combing through the trades to determine which other hedgefund took a massive position so they can short squeeze them into bankruptcy as well