This video was surging upwards on /r/all then reddit went down for a little bit. When it popped back up, it had it's upvotes cut by like 70%. Some comments on the video also had their upvotes cut, some by like 90%, basically stopping it from rising as fast. This is pretty insane considering how damning the video is and what he's saying in it. Everything that man is saying in the video deserves to be scrutinized. Why is there weird stuff happening on Reddit right around the same time weird stuff happens with GME?
This needs to be discussed more. It definitely matters when such monumental videos can just pop off the feed and lose traction while it's growing.
He talks about the reason price started to increase in January of last year. Let's take a look at the transcript directly from the video. Starting at 9:53, someone asks him how the buy button got turned off. He then says the following.
>Well, like I was alluding to before, the market markers were basically selling to Robinhood and the Reddit crowd naked calls, long, and they would short the call because it's double entry accounting. Somebody's long and somebody's short. And the market makers did not hedge in the beginning. But then when they started hedging, because the volume of calls went to the point where it was dangerous, the hedge to a short call is to either buy another call or buy the stock, and it's much easier to go in and buy the stock electronically... So they bought the stock and in buying the stock they were moving the price up. And their attitude was this call buying will stop, so let's buy the stock, hedge our current position, and hope that the buyers of these calls stop. But they didn't. They just kept going and going and going. So the buying of the long stock on the short call became the issue. And so it got to the point where the exchanges and regulators were aware that market makers were becoming illiquid. They have to settle these trades and they need capital to do that, and they were spending their capital... to cover the short call. And then that
... keep reading on reddit ➡
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Edit: you know the one this’n that confirms all ape DD.
