Game Stop sitting with Chevron and Amazon CEOs after reddit makes them a Fortune 500 company.
Other than a bunch of rich dudes losing a bunch of money, there is a huge potential for negative impacts on pensions and 401Ks (depending). They technically only lose money if they exit their position or if the price is high enough that the fund can’t handle the drawdown and their broker gives em a margin call and kicks em out. It would be interesting to see how close some of these accounts are to margin call. Honestly, most can probably ride it out and are just losing money on paper. If they get kicked by the broker, the fund is shot - meaning something like a pension could be wiped clean. If they can ride it, the loses are erased once price comes down. Those morons should’ve all had stop losses in place anyways.
Its most likely the guys most most hurt from this are the most recent buy ins. But who knows.
Now there’s talk of further regulations for short sell/hold positions. Hopefully they just mean single stocks. I’ve been very successful the last few months shorting indices and currency pairs so I’d be pissed. It’s the fund manager’s fault and the big guy lost so now the little guy needs to be restricted.....
