While the number might be exagerated, the loss is still at least above 10 billions dollars
and Melvin something got a 2 billions emergency investing/bailout from a third party
so there is an awful lot of money currently involved.
Because the Hedge Funds are legally forced to give back the Gamestop stocks they borrowed but can't buy enough because other people have them,
the price of those stocks will go up and theorically it can go up infinitely
hence the joke about the 70 billion loss.
Some go as far as saying that the whole situation could crash the stock market because if it go high enough,
there's not enough money in the system to pay back the borrowed stocks.
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Mew seeker
Feb 02, 2021 at 09:46AM EST in reply to
QuasiMadman
Feb 02, 2021 at 05:08AM EST in reply to