In case you are unaware there is a subreddit named /WallStreetBets where regular joes like you and me go to discuss options trading (primarily), which is a speculative i.e. gambling type of investment strategy. Recently they’ve all jumped on board to pump a common stock, GME (GameStop) at the chagrin of a prominent Walk Street firm.
This month alone the stock has gone from a market value of $19 to $148, if you look at the past 200 days the stock, it is up nearly an insane +4000%
If you know nothing about the market just know that this company is insanely overvalued at the moment, continues to rise with no end on site, and is all because self described “autists” are pumping it to the extreme. They are essentially colluding to inflate the value of the stock price, something Wall Street firms are on record admitting to (against SEC regulations).
This is the common man fighting the establishment. This event is making people with a few thousand dollars to their name millionaires. There is a good chance these people are complete losers in their every day lives, the fat neck ears stereotype who can barely communicate with their direct family let alone a woman they want to bed.
If these self-described faggots and retards can use the power of the internet to take down the Billionaire Wall Street tycoons then we Patriots have zero excuse not to take back this country from the radical Communist invasion.
I’m not pretending like I have all the answers, but it’s time to end this talk of running and hiding and start fighting
Making them millionaires? Can you do the short math on that?
So basically - if I got it right - hedge funds have been shorting GameStop for years (makes sense, brick-and-mortar game shops are not what they used to be, and the stock has been going down). Now an investor came in last year with lots of online entrepreneurial experience and some billions behind him. Stock went up a bit, even more when he bought more and took a place on the board early this year.
The self-appointed retards at WSB looked at how many funds were still shorting the share, and started buying it, feeling that GameStop with a change of direction might not go bankrupt after all (they have 55 million ppl in their customer database, for instance). The funds holding the shorts have been trying to dump the share price, but the thousands of small investors from WSB (and some big ones) have been buying them all up. So the shares are going up - how far, no one knows. It's a big game of musical chairs and someone will be standing there with a huge amount of overpriced shares at some point.
If you'd put 1k into GameStop shares on the 12th of Jan, it'd be worth 13-14k today. Might be double, or quadruple that, by the end of this week. And no, there's nothing illegal here, they're taking advantage of pretty silly shortenings by hedge funds.