I'm not sure if this is supposed to be posted here but I'm not sure this would be welcome in c/wallstreetbets (lmao) either. It's just sad and dispiriting. Not really gonna say more about this because it's been pretty draining tbh.

Also, before someone says "well I don't think it's WRONG to talk about this, and I don't think it's praxis, and y'know I had to pay rent and spent some money on this and I just like laughing at Melvin eating shit and...." cool, I'm not talking about you, you know which people I am talking about.

  • Pezevenk [he/him]
    ·
    4 years ago

    I brought up market cap because the market cap is the combined value of all outstanding shares of that company. Someone posted the link to the 70 billion number and it turns out that it comes from an article in Reuters that talks about the combined losses on shorting positions for every firm in the US, which was misread to be about GameStop. The same article put the losses of GameStop short sellers at around 1 billion at that time.

      • Pezevenk [he/him]
        ·
        4 years ago

        Well yes the 70 billion isn’t all GME, though a very outsized proportion is

        Yes, I was just responding to someone who said they were losing 70 billion because of GME. It seemed a very weird claim to me, which is why I brought it up.