I find this very interesting, and will be checking back in to see what the fire braintrust thinks about it. I’ve never shorted a stock and doubt I ever will, but this thing with gamestop is fascinating. I expect government to jump im at amy time and put a stop to it. I can’t wait to see what all that screws up.
But nothing that's happened is illegal.
Group of hedge fund guys get together and make public their short on a stock. It suppresses the stock price and they make money.
WSB basically just called their bet. Got their friends together to keep buying disregarding the fundamentals of the stock to push it up and forcing losses on those hedge guys.
What's the difference? Someone in Bristoe's link said "we gamers can be retarded longer than they are solvent" - talking BILLION dollar losses for these hedge guys. Hedge guys manipulate the market all the time - all that happened is someone manipulated it back the other way.
Gov may step in via regulation but right now - there's nothing to step in on I can see.