People are making millions of dollars because of a Reddit meme.
To cut a long story short, Reddit is trying to bankrupt hedge fund managers for the lols.
Basically, a bunch of investors bet on GameStop stock crashing – which it probably would have done, considering how the chain has been suffering during the pandemic and, in the longer term, due to increased digital game sales. They did something called a “short call option”, which is, to put it way more simply than it actually is, agreeing to sell your shares at a fixed price within a given time frame.
Read the full article on nintendolife.com
