I’m late to this party, and maybe I’ll post it elsewhere. Obviously I’m cheering for the GME r/Wall Street Bets crowd, I just wanted to spitball some thoughts about all this because it’s fascinating to me, but it doesn’t feel right.
Am I the only one who firstly doesn’t think r/WSB has the influence that they’re being credited for? Like, this could be a huge psyop coordinated by God knows who and using the media to portray it as the little guy, the underdog? Half my friends who I wouldn’t trust to take care of a stray cat are now day traders allegedly. Could this be a huge trap, one of the biggest pump and dump schemes of all time. Sure one or 2 hedge funds might go under, but this could sucker in your crazy aunt to start trading. COVID has a lot of folks on unemployment, they’re spending more time on their phones and when I go on social media this is all I see all day. Shit about GME but also about Dogecoin. Could this be a gigantic coordinated setup for one of the largest wealth transfers from the lower & middle class to the rich, and they’re masquerading it as “the people took the helm and manipulated markets, we must punish them for doing this” as a way to sucker a few dollars out of unsuspecting people who are already suffering and just want to make some money?
I don’t know, these are just some thoughts. This doesn’t feel right to me. I just can’t see WSB having as much influence as they’ve been portrayed to have, we already know to doubt nearly all media and they’re feeding this line. I would love to hear anyone else’s thoughts or just call me an idiot. Tried to talk this through with my girlfriend but she shut me down real quick. Regardless, this is nothing if not extremely fascinating no matter what comes of it.
To clarify the pump & dump statement, maybe not this specific incident but a way for big competitors to crowd source to put a competitor under and even test the waters of buying small retail investor data to continue to provide false hope for some security getting more folks involved and give a big Win for the little guy by putting some hedge fund out of business. Too many people are using Robinhood and my understanding is they sell user data. By experts, that could easily be interpreted and used to manipulate retail investors, I guess a similar analogy would be like how hashtags trend on Twitter but with securities, promoted and pushed as hot get rich quick schemes. Everything I’ve read about the roaring 20’s, it feels like we’re just repeating it. Regardless, be safe out there. Lastly, Donald Trump won the election By A Lot!