this post was submitted on 19 Feb 2025
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[โ€“] SkyezOpen@lemmy.world 5 points 2 days ago (1 children)

Wall Street doesn't lose money when you buy stocks.

Hedge funds lost a shitload though. Wallstreetbets basically engineered a short squeeze and a few hedge funds genuinely lost a ton of money covering shorts. Granted, a lot of those diamonds handers were left holding the bag, but the effect wasn't insignificant.

[โ€“] DragonTypeWyvern@midwest.social 1 points 2 days ago* (last edited 2 days ago)

https://www.businessinsider.com/rentech-simons-gamestop-meme-stock-price-nvidia-tesla-amc-portfolio-2024-5

Some hedge funds lost money.

Others were the ones manipulating the market in the first place.