Tiananmen Square USA 2021

Thomas Peterffy, Interactive Brokers on Gamestop

I have heard at least a dozen talking heads trying to explain how this spirled out of control. Thomas Peterffy does a decent explanation, with the sanest solution I have heard. He suggest only closing transactions be allowed.  

In the end, the shorts over extended their ability to buy shares to and now can't. It sucks to be them, but at the same time, IMHO, anyone buying Gamestop at the current evaluations is setting themselves up for a 50% or worse loss. This has the shades of the mortgage crisis. I am all in favor of screwing the shorts, but not at teh cost of bankrupting brokerage houses.

Hopefully it won't come to that. 

www.realclearpolitics.com/video/2021/01/29/peterffy_on_gamestop_brokers_stand_between_customers_and_clearing_houses_worried_about_integrity_of_the_market.html