I don't really like the separation between shorters and the people pumping the shares. People have been pumping up crappy stocks on bulletin boards for such a long time, and some are massive scumbags too. Shorters take serious risks with their own money, so the hero/villian line can be pretty blurry. Well done to those who originally spotted the opportunity here.
There are bound to be some serious losers here, as the stock looks a bit of a basket cases. It will end badly, just like it did with the bitcoin late adopters :/ Don't do it Marky.
Short squeezes are great for schadenfreude though.
https://www.ft.com/content/0a58b63a-4294-3e07-8390-c3aabef39a26If you are paywall'd out [url[https://www.reuters.com/article/us-volkswagen-idUSTRE49R3I920081028[/url]
Agree with this - at first glance it's a bit of a jape sticking it in the eye of hedge funds. Other than that it's very reminiscent of the ramping during the dot com boom. In this notional collective of amateur investors will be a decent number of very skilled traders manipulating everyone else to their end. The best trick here is getting so many people to buy with the perspective of who cares if i lose a few hundo as long as I'm sticking it Wall Street. Actually, you are just lining the pockets of other slick operators who aren't running hedge funds.
No doubt if you're brave enough, quick enough and a good trader some small fortunes will get made here, as with Bitcoin, especially if buyers are still being attracted by the 'game'. Ultimately though, where can it end when there isn't the intrinsic value to support the price.
That said, with BTC, I'm not sure I'll live long enough to see the queue of buyers end, especially now so many institutions are involved as well.
Oh, do feel free to buy Blackberry and Nokia stock though, follow me in, it's golden.
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