Please think of all the people you hurt by buying gamestop stock.

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[–]magnora7 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (1 child)

WallStreetBets found out about their plans to short sell,

I'm still confused about how exactly that happened? Apparently the short sells are public information? I do wonder about the specifics of that

[–][deleted] 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (0 children)

They didn't "find out about their plans to short sell", they realized the number of shares SHORT the stock was greater than the number of shares outstanding. This in theory should be impossible, unless people are doing illegal things, such as selling (short) shares THAT DON'T EXIST.

This (obviously?) set off the alarms at WSB and action was taken. And if not for the extremely illegal moves by robinhood (should rename to robbingood really) and other retail-oriented brokers, these WSB autists (brilliant mavericks, more like) would have made the streed bleed red and filled their accounts with huge monies.

I did not check at which price the option expiry took place, because I did not participate in that bit of autism (I found out late) but there was certainly a way to make HUMONGOUS gains from this. As it stands, for sure some big institutions lost billions that went directly into the portfolios of these WSB autists.