TLDR
A Reddit community turned against hedge funds who were short-selling (betting on the downside) a few brick and mortar stocks. Redditors took over GameStop by making its price shoot over $400 per share, thus “squeezing” hedge funds like Melvin Capital, who had massive short bets on the company. In turn, one of the primary platform used by Redditors, Robinhood restricted the trades on Game Stop, de facto making it harder for those retail investors to squeeze further hedge funds involved in the trade. Robinhood is an app that helps to invest in stocks, ETFs, options, and cryptocurrencies.via the TL;DR App
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Written by gcuofano | Creator of The Business Engineer, a top business tech newsletter born from a decade of research in high-tech.
