BlackRock bought into GameStop a long ass time ago as a part of their ETFs, so this isn't anything new.
There are plenty of rich people that stand to benefit from the plundering of Melvin Capital (like BlackRock), so it's not fitting to call it a "revolution" but the unprecedented thing is how small-time investors are in the picture and benefiting from this.
(and, yes, Melvin is still shorting GME, they would have to publicly disclose things due to SEC regulations if they covered last night, the news articles about that are based on a phone call with some unnamed associate in Melvin.)
Melvin did not exit. Anonymous people claimed that Melvin exited during after hours with very low trade volume, which is 1) impossible and 2) nothing has been published about it per SEC requirements.
BlackRock bought into GameStop a long ass time ago as a part of their ETFs, so this isn't anything new.
There are plenty of rich people that stand to benefit from the plundering of Melvin Capital (like BlackRock), so it's not fitting to call it a "revolution" but the unprecedented thing is how small-time investors are in the picture and benefiting from this.
(and, yes, Melvin is still shorting GME, they would have to publicly disclose things due to SEC regulations if they covered last night, the news articles about that are based on a phone call with some unnamed associate in Melvin.)
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Melvin did not exit. Anonymous people claimed that Melvin exited during after hours with very low trade volume, which is 1) impossible and 2) nothing has been published about it per SEC requirements.
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Melvin Capital won't live long enough to see any litigation. They'll play every trick they can to get a better shake on things.