You would think that those Wall Street traders are smart, and that your retirement money would be safe with them. Turns out, not so much. The reason why the price is skyrocketing is because short sellers sells more stock than what is available on the market. Obviously, some people are going to get burned.
Those traders are gambling with your money because they certainly don't do so with theirs. All the previous stock market movies come to mind. This will end up in a crash. I just hope that the bad players get their comeuppance properly.
Lesson: Never short more than what the market can bear!
2021 is sure shaping up to be an interesting year after such horrible 2020.
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