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

    If they literally had to buy every stock in the market twice, it still wouldn't be worth close 70 billion. Someone posted the link to the article they thought was showing they were losing 70 billion, and it was about loss at short positions this year in general, not just due to the GameStop squeeze. https://www.reuters.com/article/us-retail-trading-shortbets-idUSKBN29X1SW

    Short-sellers are sitting on estimated losses of $70.87 billion from their short positions in U.S. companies so far this year, data from financial data analytics firm Ortex showed on Thursday.

    [...]

    Its data also showed that estimated losses from shorting GameStop at $1.03 billion year-to-date, while those shorting Bed, Bath & Beyond were looking at a $600 million loss.