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Theres GameStop, but alsoAMCand Reddit?
And also the wordstonks.
And now itsbleeding over into other threatened companies, including AMC and BlackBerry.
Am I roughly in the right area?
Bilge Ebiri:Yeah, thats about it.
(Does that mean AMC is completely fine now?
No, not really.
But then again, a lot of the short sellers werent necessarily looking at the companys fundamentals either.
Maybe another helpful thing can be to explain how short selling works in a ridiculously simplified fashion.
Let me give it a shot: Say your friend has a book worth $10.
You ask to borrow that book and promise to give it back to them in ten days.
You thensellthat book to someone else for $10.
You are betting that, in ten days, you will be able to buy that book for cheaper.
So in ten days, you buy the book for $4 and return the book to your friend.
You have made $6.
Now imagine that book is actually the stock of a company.
(This is a highly reductive and possibly inaccurate description of what short sellers do.)
Only its not $10 were talking about but billions of dollars.
:Mmmm okay, yes.
OK I did it.
(At some point, it will be, either in the form of cash or debt.)
Conventional cultural wisdom as expressed in movies, shows, books, etc.
has often held that the internet has made the levers of power accessible to lone-wolf types.
(We can compare it to the TikTokers whoupended Trump ralliesduring the election.)
TheQAnon thingis also kind of a swarm.
We need to be careful about lionizing this sort of thing.
That said, I am happy to see the people who want movie theaters to die suffer a little.
They are my mortal enemies.
AMC is my GameStop.
They call stocksstonks.They litter the forums with rocket-ship emoji.
They post TO THE MOON!
in all caps and chide each other about holding rather than selling.
This, by the way, is where the Mets come in!
Yall just be saying anything.
:Yeah, it definitely has a people-versus-the-profiteers quality to it.
And you’re able to find all sorts of comparisons/analogies/etc., depending on your interests.
It’s a big financial story.
The swarm knows no bounds!)
That will surely go over well.
)I suspect we will also eventually learn a bit more about the individuals involved on both sides.
But I suspect the reality might be a bit different.
Especially since a lot of these people seem to be Elon Musk admirers, too.
And creating short squeezes is the kind of thing Martin Shkreli used to do.
K.V.:Absolutely.
Plus, Elon Musk somehow shows up.
The immediate risks of it look pretty localized right now.
The real question is what happens if itsnotjust a onetime stunt for the LOLz.
This piece has been updated with new information regarding the stonks.
