Originally Posted by
chuckcouples
So the Redditors want to bankrupt a company that's been around for 7 years and mostly manages pension funds and trust funds? How is this taking it to the "man"? This is more like I'm going to steal their grandparents life savings. I don't get the reasoning behind this outside of deepf**&^ngvalue who started this whole thing and has reportedly made about $50,000,000. Everyone who has piled in since then is likely going to lose their shirt.
The funniest thing about all of this to me is that Fidelity Investments owned about 13% of all Gamestop shares. Fidelity is the largest money manager in North America. The fund that owned 9.75% of the shares is up about 3.75% this month which shows you how small of a blip this escapade is going to be in the grand scheme of things.
The only change that this is going to create is that hedge fund companies are going to not show anyone what they are actually doing which is going to make it even worse for the little investor in the long run. They have the ability to completely cover their tracks but Melvin Capital did not so this happened.