Greg Foreman
@BlackConservativePerspective·987K subscribers·9.1K videos
Charles Payne GOES OFF on WALL STREET CRYBABIES As Hedge Fund Cronies LOSE $14.3 BILLION On GameStop
Posted
January 28, 2021
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January 28, 2021
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Wall Street is "losing its mind" after a group of small investors with trading accounts ranging from $500 to $2,500 banded together to take "down the billionaires," Fox Business host Charles Payne told "Tucker Carlson Tonight" Wednesday.
The "Making Money" host addressed the dramatic surge in GameStop's stock price after a group of Reddit users teamed up to buy up the struggling retailer's call options – pushing the company's stock prices to unprecedented levels and hurting market short-sellers.
"These hedge funds selling this stock, they don’t own the stock, so they borrow it," Payne explained. "Imagine you borrow a stock that’s trading at $10 and then you drive the share price down and then you buy it back for a dollar. You make the difference, nine bucks."
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