The reason it happened is the 140% short positions. In other words to cover all those who bet the price would drop you needed 40% more stock than even exists. It was greed that caused this. Using leverage to short.
Those who have lost billions who were short should lose. How can you ,with any kind of sanity think it is ok to short a company with more than 40% of your short "bets" not even being able to be covered? It was a very easy target to short squeeze because those short could not possibly come up with the stock to stay short.
Those who have lost billions who were short should lose. How can you ,with any kind of sanity think it is ok to short a company with more than 40% of your short "bets" not even being able to be covered? It was a very easy target to short squeeze because those short could not possibly come up with the stock to stay short.
ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com