Elitist Freak Out! Start Blaming Trump After Wall Street Takes A Beating From The Little Guy
What’s being called the Gamestop insurrection has begun.
A massive investor-driven rally started on a Reddit forum has caused short seller hedge funds to lose billions.
It appears a small army of organized investors bought stock after short seller hedge funds bet against Gamestop who were counting on the stock prices to dive.
Big hedge funds “shorted’ the stock, meaning they borrowed shares and sold them, hoping to buy them back at a cheaper price and pocket the difference but it blew up in their face.
Below is a very simple take on what is happening.
Thank you to whoever explained this – @reddit is incredible
— Jimmy Kelly (@_jimmykelly) January 28, 2021
A small group of investors that were members on the same Reddit forum started rallying other members to buy stock which caused the Gamestops value to skyrocket. In five days the stock doubled then the roof blew off this week, the stock is trading at $334.65 a share.
The little revolution from Reddit beat the hedge funds at their own game causing one group to lose $2.75 billion and now the elite’s in the media and on Wall Street are freaking out. There is some speculation that some members of the Reddit forum have possibly made millions.
The ruling class is so mad they are starting to blame Trump because commoners joined together to beat Wall Street.
Chris Cillizza from CNN blamed Trump using a excerpt from one of the President speeches in 2018 when he told his audience that “you are indeed smarter than them—let’s call ourselves from now on the super-elite. We’re the super-elite.”
Cillizza claims htese words are why his buddies on Wall Street took a beating from the little guy.
What’s the end game for the GameStop surgers? Like, now that they have proven the point that they can take a stock that the pros have declared moribund and revive it — at least for a moment — what do they do now? Because they don’t really believe that GameStop is suddenly the new Amazon or Apple or Google. It’s still mostly a business that derives its value from brick and mortar stores in malls. Which, again, is not exactly a big growth area in the coming years.The point is that there is no real point beyond showing up the pros — proving to them that they aren’t as smart as they think they are and that they don’t have the ability to control everything.Which, again, has its roots in Trumpism. The entire notion of Trump’s candidacy and presidency was to stick it to the elites. And then, well, uh, there wasn’t really a plan beyond that. The screwjob was the point.
CNBC guy becomes actually *flabbergasted* trying to explain GameStop and AMC rise
— Jack Posobiec 🇺🇸 (@JackPosobiec) January 27, 2021
The Nasdaq CEO went on CNBC to call for regulation.
“As we look at these new technologies that are available … it’s important for regulators to understand that manipulation is manipulation whether it’s happening through a new technology medium or it’s happening through traditional mail,” says @Nasdaq CEO @adenatfriedman. pic.twitter.com/iSP31KoXvm
— Squawk Box (@SquawkCNBC) January 27, 2021
The White House response was comical.
Biden White House Press Secretary asked about GameStop, AMC and Blockbuster stock market drama.
She responds by reminding everyone that they have the FIRST FEMALE treasury secretary & says they’re “monitoring the situation.”pic.twitter.com/Lu2PR6NAdd
— The Columbia Bugle 🇺🇸 (@ColumbiaBugle) January 27, 2021
Big tech jumped in and has shut down the Reddit thread and some trading apps have suspended trading on Gamestop to try and stop what is being called a protest. Are buddy Chris from CNN claims there is no real endgame here is what one user wrote describing at least for him what the end game is. YOLO means “you only live once.”
This post is not nor should it be used as financial advice in any way shape or form. This is an opinion piece based on current events and should not be used as financial advice.