Last week represented the largest hedge fund degrossing event since February 2009 (the height of last decade's financial crisis).
As regular Joes have taken on wall street short sellers, there has also been a larger destabilizing effect on the market in general. Firms have been selling long positions to cover massive losses from shorts - and stocks across the board have taken huge hits. Tesla has lost over 10% of its value.
Tomorrow markets reopen and there is no sign of this trend stopping. Despite investment apps working to limit sales of certain "stonks", prices have either continued to rally or stabilize - and there are a host of further stocks that continue to see rapid gains despite lack of any real world indicators of growth.
So what do you guys expect to happen tomorrow, and how will this saga come to an end? Are we looking at the next financial crisis - this time brought to us by meme magic?
https://www.reuters.com/article/idUSKBN2A00UH
As regular Joes have taken on wall street short sellers, there has also been a larger destabilizing effect on the market in general. Firms have been selling long positions to cover massive losses from shorts - and stocks across the board have taken huge hits. Tesla has lost over 10% of its value.
Tomorrow markets reopen and there is no sign of this trend stopping. Despite investment apps working to limit sales of certain "stonks", prices have either continued to rally or stabilize - and there are a host of further stocks that continue to see rapid gains despite lack of any real world indicators of growth.
So what do you guys expect to happen tomorrow, and how will this saga come to an end? Are we looking at the next financial crisis - this time brought to us by meme magic?
https://www.reuters.com/article/idUSKBN2A00UH