So how exactly is pumping GME considered bankrupting the rich? By pumping it, isn't that just making the rich investors who've had GME stocks.. even more rich?
Short squeeze. Smart investors were shorting it, not keeping it as a long-term investment, mostly because this company has no future and has been on life support for a long time. But tbh, the whole thing surrounding GME wasn't about
bankrupting the rich (i may be wrong, tho).
It was about this one subreddit [WSB] sending a msg to the
hedge funds who kept shorting GME to oblivion telling them that they don't run this thing, they don't make the rules and that retail investors actually have the power to "take them down" and make 'em lose money. So, a lot of ppl have that mindset, right? well, add in the fact that GME short interest was off the charts last year (a red flag telling you that something big is about to happen) + a few investors willing to "stick it to the hedge funds" + memes and twitter influencers talking about GME and you get the massive short squeeze and consequent shitfest that occured some days ago which in fact led to a hedge fund to face big losses
