Current state of WSB & GME
Are most HFs just messing around with WSB "investors" at this point? I've been reading through some of their recent posts and all I can say is that it's extremely concerning.
Thoughts?
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What? You think HFs are actively messing with redditors for the lulz?
The squeeze happened (fueled by other HFs not retail) and most of WSB lost 80% on their positions. Instead of taking the cap loss they went full qanon and started making up conspiracies about how GME will go back to $500.
I don’t think retail investors need to be “protected” from the market, but reading posts there for 5 minutes is a pretty convincing argument the average American is far too stupid to trade their own account.
WSB/GME was concerning to most HFs only due to the second-order effects of the massive de-gross unleashed by Melvin and other shorts cutting their other positions. That's what likely led to some of the notable losses at other firms with 0 direct exposure to the meme stocks. Right now WSB is just spewing conspiracy theories when really the HF industry is not paying much attention to them. It used to be a fun sub but now it's full of garbage and should be ignored.
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