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by Esophagus4
19 days ago
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This was not due to malice but instead, incompetence. They didn’t have enough cash to clear their trades. I have ranted on here before about the SV startup mindset of “I don’t need to know anything about the industry I’m ‘disrupting’ nor do I need to play by their rules” and this was an example of that. On that day, everybody who was actually in capital markets went, “what f-ing idiots those guys are” https://en.wikipedia.org/wiki/GameStop_short_squeeze |
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