OPINION: Sportsbooks look like children’s toys compared to Wall Street and the GameStop saga

OPINION: Sportsbooks look like children’s toys compared to Wall Street and the GameStop saga

Article brief provided by SportsHandle
  • Jeff Edelstein, SportsHandle
January 29, 2021 2:55 AM
  • Jeff Edelstein, SportsHandle

And just like that, everyone in America knows what a short squeeze is.

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Actually, check that: I’m pretty confident no one knows what a short squeeze is, but I am confident at least one person on Reddit knows what a short squeeze is, and as a result, millions of Americans think they know what a short squeeze is, and as a result of that, the obvious stuff starts happening: A dying retailer’s stock soars by about infinity percent, hedge funds nearly go belly-up, retail bros are booking million-dollar profits, trading gets halted, lawsuits are filed, and  …

And before I had breakfast this morning (Lucky Charms, a little on the nose, wouldn’t you agree?) I bought 40 shares of Nokia at $5.81 pre-market because Reddit said so and then shortly thereafter found myself nodding in agreement with a tweet from Donald Trump Jr., who I normally rank somewhere between “loathe” and “disgust.”

It’s been a weird day, guys.