How minnows sank the Wall Street sharks: It's the most astonishing financial story for years.
Youtuber known as 'Roaring Kitty,' AKA Boston dad Keith Gill, who was behind the Wall Street meltdownWall Street thought the share price would collapse. But, if the price goes up, the bet backfires and the hedge funds and other institutions suffer. In theory, if the share price keeps going up, there is no limit to the amount of money they can lose. This meant that as few as 20 million shares were available to the hedge funds and other ‘sharks’. ‘Let’s bankrupt these billionaires and hedge funds!
Source: Daily Mail January 29, 2021 01:07 UTC
