| rapsuperstar31 said: Some of the kids are going to be worth 6 or 7 figures if they pull this off right. Some of their parents invested in some of these hedge funds that had been short betting Gamestop are going from millionaires to bankrupt. Those on wallstreetbets that trust everyone on reddit for too long are going to watch their new fortunes wiped away pretty quickly if they don't act at the right time. Crazy times going on these days in the market. |
I can guarantee you that the banks are fully covered for this. They'll just sell these kids imaginary shares and the kids will look at their pieces of paper and think they are worth cash.
Don't forget, while banks are quite happy to sell you imaginary shares, they are under no obligation to help you sell your imaginary shares. Your ability to sell a $300 share (real or imaginary) is predicated on someone wanting to buy it for $300. If there isn't someone currently willing to pay real cash for your imaginary share, then I have bad news about the value your investment...
All the bank needs do is buy insurance from a Hedge Fund. There'll only be a problem if GameStop prices haven't gone back to a "sensible" value in time for Christmas Bonus.
Christmas Bonuses aren't due for a while yet...
