Welcome to the largest gaming community on Lemmy! Discussion for all kinds of games. Video games, tabletop games, card games etc.
Submissions have to be related to games
No bigotry or harassment, be civil
No excessive self-promotion
Stay on-topic; no memes, funny videos, giveaways, reposts, or low-effort posts
Mark Spoilers and NSFW
No linking to piracy
More information about the community rules can be found here.
Literally a used Switch game in a big, ridiculous bag with a “New” sticker on it. Imagine going into a GameStop with a game in a bag like this and convincing them to give you credit for it as “New”.
Don’t buy online from GameStop. Actually, just don’t buy from GameStop.
And this is the company wallstreetbets wanted so bad to defend. It should have died. It DESERVED to die but Reddit wanted it alive because if there's anything Reddit hates more, it is short sellers. But the reality is that most of the time the companies that get taken down by short selling aren't healthy to begin with. After all, why push a strong company off the cliff when you can push a weak one that is overvalued?
I think there was more to it than that. It seemed more like a situation where they could kill two birds with one stone. They could destroy, or at least severely damage the stock market by ensuring the hedgefunds couldn't buy back the shorted stock, and even if they didn't, they had the chance to become extremely wealthy while trying.
It probably would have worked too if it weren't for ~~those meddling kids~~ stock brokers like Robin Hood working with hedgefunds to claw back stocks and the SEC towering over them with potential charges of market manipulation.
It never would have worked. The absolute best case scenario was one hedgefund company has less profit that year.