No, of course you shouldn’t. But, I do want to see Wall Street squirm. Short selling is such horseshit. I looked up the concept just last week and I just can’t wrap my head around how selling something you don’t own was ever okay.
I think short selling should be illegal. It’s essentially making money off of other people’s misfortune, which I am not okay with. So would I be willing to throw some money at Gamestop stock, knowing that I might never see it again, just so some asshole on Wall Street can experience the pain and misery they’ve been spreading for the past few years? Yes, I absolutely would be.
/rant
I think short selling should be illegal. It’s essentially making money off of other people’s misfortune
Yeah, that shit is downright criminal (or ‘capitalistic’ if you will), especially if you consider that these big hedge-funds were purposefully trading their shorts to let the affected stocks look even worse. I would have loved to see these big players go bankrupt.
I disagree, short selling isn’t necessarily worse than other parts of the stock market. It’s not making money off misfortune, it’s making money of being critical if a company actually should be as highly valued as it is. It does prevent some fraud and bubbles like housing bubbles I think.
But of course what happened here was dumb and it’s great that the hedgefunds were punished.
Not saying that short selling is great, I don’t like the stock market in general, Imo the whole stock market can be abolished for a better system, idk.
