But the squeezes could end up accidentally strangling themselves.

但是，擠來擠去，最後可能一不小心就把自己給勒死了。

Sure, squeezing is quite old idea.

當然，擠壓是相當古老的想法。

There's recently become popular on social media sites like Reddit.

最近在Reddit等社交網站上流行。

First, you find a company that's heavily shorted, like games retailer Gamestop.

首先，你要找到一家重倉的公司，比如遊戲零售商Gamestop。

This just means that a bunch of hedge funds have placed bets that its share price will go down.

這只是意味著，一群對沖基金已經下注其股價將下跌。

Now a big enough gang of squeezes can actually put these hedge funds in trouble by forcing the price to go up.

現在如果有足夠大的壓貨團伙，其實可以通過逼迫價格上漲，讓這些對沖基金陷入困境。

Instead, they just do this by buying some options contracts, which basically forces some market middle men buy the shares themselves.

相反，他們只是通過購買一些期權合約來實現，這基本上迫使一些市場中間人自己購買股票。

Now the hedge funds who was shorting the company will be in trouble because the share price has gone up instead of down, they will try to limit their losses by buying the shares.

現在做空該公司的對沖基金將陷入困境，因為股價不跌反漲，他們將試圖通過買入股票來限制損失。

But you guessed it.

但你猜對了。

This just pushes the price up even further, effectively tightening the squeeze.

這只是進一步推高了價格，有效地加強了擠壓。

So all in all is basically a feedback loop in the market, where higher prices can feed on themselves, be getting even higher prices.

所以總的來說基本上是市場的一個反饋循環，高價可以自食其力，是得到更高的價格。

So what's the problem?

那麼問題出在哪裡？

Well, one risk is that the squeezes won't be able to squeeze indefinitely trading platforms like Robin Heard.

好吧，有一個風險是，壓榨不會像羅賓漢那樣無限壓榨交易平臺。

An interactive brokers have placed restrictions on Gamestop.

一家互動經紀公司對Gamestop進行了限制。

For example, regulators like the Securities and Exchange Commission might also take a dim view of the volatility that squeezing creates.

例如，像證券交易委員會這樣的監管機構可能也會對擠壓造成的波動性持模糊態度。

The other problem for squeezes is that hedge funds usually short companies for a reason.

擠兌的另一個問題是，對沖基金通常做空公司是有原因的。

They're bad investments.

他們是糟糕的投資。

So if the squeezes try their trick, but then they fail to push prices upwards, they'll just end up owning shares in a company that's actually maybe a bad company.

所以，如果壓榨者嘗試了他們的伎倆，但後來他們未能將價格推高，他們最終只會擁有一家公司的股票，而這家公司其實也許是一家糟糕的公司。

That could happen, for example, if major institutional investors start selling in as prices rise, or if just not enough squeeze is joining the game.

例如，如果主要機構投資者在價格上漲時開始拋售，或者只是沒有足夠的擠壓加入遊戲，就可能發生這種情況。

In other words, the risk from trying to squeeze too often is self efficacy ation.

換句話說，過於頻繁地嘗試擠壓所帶來的風險是自我效能 ation。