GME was skyrocketing in price due to retail traders buying shares at any price...major hedge funds were short GME so the higher the price the worse it got for them.
Price went ballistic on a tuesday IIRC and robinhood (among others) froze/prohibited the ability to buy GME (and other meme stock) shares...all buying power was eliminated meaning only sell orders remained which drove the price down considerably and it has never recovered from that point...
essentially retails brokers led by robinhood got margin called due to significant losses on short gamestop positions via their clearing companies (market makers) that were heavily short GME...
SO ESENTIALLY WHAT THIS MEANS IS FOR ONCE THE RETAIL TRADERS (who traditionally lose 95%+ of the time to the big boys) held a royal flush and had the leg up on major financial institutions...and instead of folding (paying the asking price for GME shares), they shut the game down and said "game over you guys might win so you cant play anymore"
its was totally lame, and immoral, and unethical business, and ********.
but nothing is new, they did the same thing to saunders with piggly wiggly, and the same thing to the Hunt brothers on their silver corner.
