Only allowing users to sell stock
Artificially deflating the stock
GME GameStop
-the simple-
-Melvin Capital: shorted gme ("borrowed" stock, sold stock with intent to buy back lower, give "borrowed" stock back, keep the difference)
-Melvin "borrowed" 140% !!! Of available stock
-Melvin MUST return these stocks by Friday
Knowing these stocks were over shorted, retail investors made a run at open shares to hold as long as possible, driving up price Knowing Melvin was in a HAD-TO-HAVE position…
-Melvin, instead of buying @$2/share, was facing $400+/share… for ALL 140% of the shares they borrowed…
GME was being shorted for better part of a year… people were literally driving other investors out and away from the stock… The why? I can only speculate.
-Melvin was slated to lose MANY Billions
Until the lock of no buys,only sells and constantly halting everytime it makes an up jump.