A really simple way of explaining this is that a bunch of folks on reddit organized and used a financial strategy (look up how to short a stock) to outsmart the Big Kahunas on Wall Street. They (the Big Kahunas) have lost beaucoup bucks and are now crying to Dementia Joe to fix the problem (which isn't exactly a problem. They are just butthurt that the common folk dared to make money) while accusing the redditors of being white supremacists. That's all I got. This is what I have gleaned. Anyone can correct me if I am wrong.
Thanks! Please explain further in super simple laymans terms if you can. (Just made a post on new. Wish I would have seen your answer. ) Not sure how you can "like" a stock. Is that the same thing as just buying a stock?
A really simple way of explaining this is that a bunch of folks on reddit organized and used a financial strategy (look up how to short a stock) to outsmart the Big Kahunas on Wall Street. They (the Big Kahunas) have lost beaucoup bucks and are now crying to Dementia Joe to fix the problem (which isn't exactly a problem. They are just butthurt that the common folk dared to make money) while accusing the redditors of being white supremacists. That's all I got. This is what I have gleaned. Anyone can correct me if I am wrong.
They didn’t organize, they just liked the stock
Thanks! Please explain further in super simple laymans terms if you can. (Just made a post on new. Wish I would have seen your answer. ) Not sure how you can "like" a stock. Is that the same thing as just buying a stock?
You’re completely right otherwise, they just didn’t organize. A bunch of people just like the stock and bought it 😉
Got it! Thanks!
Nice summary in a nut shell.
How dare the People (the ones they think are mere peasants) make money!!!