[dragontamer]

You mean like 'Save the stock market from big banks by buying GME?'

It was the biggest crock of $$$$ I've ever heard, no element of truth to it. But it meme'd really well.

[smcn]

I don't think anyone was trying to save the stock market. The general vibe was more fire and brimstone.

[dragontamer]

They made up a story about how short sellers were ruining the stock market and then tried to say that punishing them would save the stock market.

Or am I wrong in my assessment? Then the crowds ate it up and GME mooned. The pumpers then dumped and RoaringKitty became a millionaire.

[smcn]

Yes I'd say that you're wrong with that.

To start, it wasn't that short sellers were ruining the market. If you spent any time there, you'd see that they, too, short stocks.

Second, it definitely wasn't made up. GME was tremendously shorted. And there were more shares shorted than existed. This is not a unique phenomenon and is possible due to a concept called "naked shorting".

It also didn't stop going up because people pumping it stopped. They literally disabled the ability for people to buy more. That is what killed the momentum. https://www.cnbc.com/2021/01/28/robinhood-interactive-broker...

[dragontamer]

Yeah, no one is going to change short selling rules any time soon because it's all jus t made up crap and rumors from WSB to pump GME.

Hate to break it to ya, but you're getting played of you actually think the problem here was short selling.

The problem is that skittery online retail can be so openly manipulated to believe such conspiracies and that this leads to the profits of the small leaders of the crowd.

[smcn]

Nobody is trying to change short selling rules. Like I said, this wasn't a rebellion against short selling.

Also, this is all verifiable information. I'd encourage you to confirm what it is that I'm saying.

Benjamin Graham said that in the short term, the stock market is a voting machine, and in the long term a weighing machine. None of this is anything new. It's just the speed at which information travels that has changed.

[dragontamer]

> Nobody is trying to change short selling rules.

Obviously, it was all just a ploy to trick Redditors into buying GME. If people actually cared about short selling, they'd describe new rules or regulations on the issue.

That's all it ever was. There's not much else to the story. I guess I could go over the bull$$$$ arguments over AMC, BBBY or FRC or any of the other meme stocks. But it's all just meming the stocks up in price.