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Why The Gamestop Stock Frenzy Is Likely To End In Financial Crisis | South China Morning Post

by scmp.com posted 1month ago 1 views
A blood sport is emerging on Wall Street. A band of millennials is buying stocks that big hedge funds have heavily shorted. The surging stock prices have triggered heavy losses for these funds. This game of hunting short-sellers may bankrupt many big hedge funds, which could take their financing banks down with them. The potential for a financial crisis is high, and rising.Specifically, an epic drama is unfolding around GameStop. Wall Street assumed that the bricks-and-mortar video game…

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