- May 6, 2018
- Reaction score
First of all, why don't you call me anymore? It's like I don't know you.I don't get the surprise at this. Literally the first thing I thought when I read about this whole thing was, "Well now the price is artificially high, they can double down knowing it will assuredly fall harder than the original speculative fall." I mean, I'm an idiot and I saw this a mile away. Now don't get me wrong, had I known about it a couple days ago, I would have thrown down and cashed out, but this outrage that the funds are now doing the same thing that they were trying to "avenge" is silly.
Second, I don't think the surprise was that the shorts had this plan. What was surprising is that they way they did it was to literally stop the retail guys from buying so that the price artificially fell. It was a blatant stick up to weaken the retail position and create supply. There will be lawsuits (already filed) and fines, but it won't put the genie back in the bottle. The penalties can exceed $1B, likely more, and it will still be the lesser of the two possible losses.