Anyone remember the GameStop saga? I have a theory. Citadel laid this out on purpose to bankrupt Leopold.
Lookup “**Citadel CEO Ken Griffin defends Melvin stake against ‘an insane conspiracy theory’’.**
These same bastards are the one that bailed out Melvin Capital who lost a shit ton shorting GameStop. Even after the bailout GameStop still kept going up because we retail know we won when there was more than 100% of the stock short. Citadel put money into Melvin to stabilize it. If GameStop continued squeezing and Melvin couldn’t recover, Citadel’s investment could have been wiped out.
So what did these fucking assholes do? They turned the “Buy” button off with the brokerages for basically all of retail which caused panic and fear and the retail army to destroy the shorts to come to an end. It literally started the cascade of selling, people panic selling and no longer wanting to buy for the short squeeze that WAS NOT OVER!
In my opinion you can’t turn the “Buy” button off for some but not for others. The entire stock should’ve been halted until they could figure things out give the brokerages time to gather the reserves or whatever they needed for retail continuing to buy and drive GameStop up. Congress hearing was a joke and didn’t understand what should have been the main “why can you turn the buy button off for retail but not for all” and some members of congress made it more about retail colluding to hurt the hedge fund.
TLDR: Remember this….CITADEL FUCKED YOU on GameStop. And yet here they are manipulating the market game we all play and getting away with it….again!
\*\*\*Please correct me if wrong or missed something.