Quote:
Originally Posted by Dezzy
I can only cheer them on, they're revealing an ugly truth about the stock market, and they're bleeding hedge funds while doing it. Eat the rich.
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Yeah I'm all for it in terms of it wrecking the confidence of the people who have been happy to manipulated markets for huge profit. Basically, they deliberately devalue stock that is falling, repeatedly... Because the lower they can get it, the more profit they can skim. On this occasion, they tried to get the stock to bust completely (be worth zero) so that they could make pure profit... But people noticed and ****ed it up for them.
I heard it described as the hedge fund managers "getting caught with their hand in the cookie jar" and I think that's quite apt. They've been badly burned for it...and that's a very good thing, because if they'd pulled it off once, they'd have kept doing it.