Gamestop was the perfect company to expose this fraud because they are everywhere and people think Blockbuster when they think Gamestop. If this was a one and done event, it worked. Whatever regulations they put in place, the secret is out. Without this event, I would have never learned about how short selling worked and how effective it is. That was truly brilliant.
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The name has perfect irony for the movement as well. An internet perfect storm.
Unless that 4chan profecy comes true. we all fucked then.. its been accurate so far.
Whats the prophecy?
It's a running joke.
By a Leaf.
Nothing else needs to be said. Fucking Leaf. Seriously, polar bears, grizzly bears, mountain lions, orcas, sharks of all types, birds of all types..
And they pick a fucking Leaf.
A Leaf.
That image is exactly why Gamestop was so short-sold in the first place.
Roaring Kitty on youtube is DeepFuckingValue on reddit. He has a video where he explains how and why he chose to go long with Gamestop. He invested sixteen months ago.
Yeah. This is the real story right here. The story NOBODY is reporting.
So many people want to assign value to what’s happening. “Oh it must be X or Y reason”. If you dig down, its about one dude who did his due diligence, and went all in on something.
For MONTHS everybody at WSB made fun of him. Or if he got a compliment it was usually “man, you’re an idiot, but boy I’m envious of the size of your brass balls.”
Nobody did or said ANYTHING about what DeepFuckingValue/Roaring Kitty was doing...until all the sudden he started being right. Took a LONG time. But once there was success, gold rush fever kicked in and people started to get on board.
Even that part was months ago. Once the stock started to spiral upwards, then everybody started weighing on on”yeah we did this for X” or “they did that for Y”.
But at the heart of it...it was just a dude with a strategy and a goal who stuck to his guns against all reason. Truly an American story.
that was beautiful
naw a lot of us listened
He also had 750k to invest over the course of his 16 month bet. Having capital helps! I wish I would have gotten in just six months ago. I had a good bit of cash to throw around then and the stock was still in the double digits.
Back in high school I couldn't go into GameStop without running into a friend. Fond memories.
same with brothels for me
it wasn't reddit that chose GME, the shorters did. you can't reproduce this unless the company is shorted so heavily. IIRC GME was shorted at least 2x of float (140% to 70%) of the next most highly shorted company. you can squeeze something at 70% float short but you're much less likely to go to the moon.
We all have fond memories of Gamestop bending us over.
Anybody who bends you over should be a fond memory. There’s nothing better.
Aw, that's so cute. You should write that on the Valentine's card you give Big Mike.
This resonated with a very specific demographic. If this had been a distributor of plumbing parts it would not have had the same impact. The fact that it dealt with video games, and it was a trading app that screwed them over. This targeted a younger crowd and it was just what they needed.
The hedge funds tried to short the stock and eventually kill Game stop. Im glad people have jumped in to fight and kill the hedge funds. I've got half a share, myself. If the shares drop below 200 in pre market, ill buy a full share in the morning.
There wasn't any decision to expose the fraud. This all started because WSB saw how over shorted and leveraged some funds were it wasn't any political movement it was to make as much money as possible. It could have been any stock that the short interest was over 100%.
I think it had more to do with the fact it was shorted to oblivion.
Battle Toads!
Not only that, but much of the younger generation that needs to experience the realities of the world are gamers. So they hear about GameStop and pay attention. Then they see all of the posts about MSM being fake news, politicians lying, and the game being rigged. They are getting the experience needed to see the world as it really is through a firehose.
Never would've thought Reddit would unite a lot of people.
Deport the spamner
Uh... I agree, but... what does this have to do with GameStop going to the moon?