There is far too much chatter, which grows louder by the day, about the brazen manipulation of this stock for the SEC not to do something soon. I guarantee you they’re trying to figure out how to pay us without bankrupting the hedges. Day by day, the obvious stares in our face, evidence of manipulation that nobody can deny. This is a powder keg that stands to destroy our economy unless the SEC treads lightly and devises some kind of compromise.
Anyone doubting how volatile this is need only visit Reddit. People are getting angry, rightfully so, generating a growing chorus of outrage that could result in a wholesale withdrawal from Wall Street.
This isn’t 50,000 discontents in their mothers’ basements taking on hedge funds. We’re talking about 5 million investors who made a bet, won, and want their money.
The hedge funds, with the tacit backing of the SEC, are telling them, “fukk you. What are you going to do about it?”
Let’s see how that works out for them.