Thoughts about the Gamestop situation?

keep it going tbh

I saw a few such stores in malls here in Germany but I never went to any. One dude I know said in 2017 "they might go bankrupt" as we went as a group to a shopping center and he was in that store to look for a game xD but that is all I remember about that store

Iono what’s happening lol

it's hilarious. power to the people!

i don't see them complaining about people becoming poorer during the pandemic and the rich becoming richer, i guess that one is a non issue

Apparently a hedge fund might go bankrupt?

Oh no!

Anyway...

rooting for the people on r/wallstreetbets

Quote from icyruios

This is based on my limited understanding on what is happening. Someone correct me if I'm wrong

Basically hedge funds are being targeted by normal people like us. Hedge funds tend to have short positions into stocks which they think will very likely go down in price, and Gamestop is one of the most shorted stocks in the market. So how investors or people managing hedge funds get a profit from their short positions is that if the stock price of Gamestop goes down, they can profit off it. However, if the stock price goes up, they can experience a huge amount of losses.

So what is happening is that many people are buying huge amounts of Gamestop stocks and that shot the price up, up to around 1600% in a matter of days. This was huge as hedge funds loses tons of money. The ridiculous thing was that trading platforms like Robinhood halted the buying of Gamestop shares, but did not halt the selling of it, and it may look like some insider manipulation which is unfair to people who are actively trading in the market, because it is kinda unethical if you ask me to stop people from buying shares. People are now also questioning if there is any insider collusion between the trading platforms and hedge funds (I think????? I might be wrong about it) and it causes an uproar. Right now things are still going crazy

So, it is, on the surface, outrageous that they're restricting people from buying certain funds like Gamestop, but they CLAIM that it's due to regulatory requirements (IE, a limit on on the size of deposits that can be lodged at any clearing period or some shit, idk).

Obviously idk the truth of that, but it's worth remembering that it's not just random reddit bros who are making bank of this. Black Rock and Fidelity are two of the biggest winners.

But yeah, fuck the hedge funds;

And anything that exposes the fragility and inequality of a system that atm just transfers wealth away from workers and towards shareholders is a good thing.

I want to say people shouldn't be sending threats to the family

https://www.cnbc.com/2021/01/3…ily-receives-threats.html

it's a 13 minutes video but it's well explained

Quote from icyruios

It's only a free market for the rich while the poor continues to be targeted

manipulating the stock market and lobbying, which is literally legal bribery, are allowed when the rich do it but when regular people do it? it's a problem, we need to regulate it

meme lords and trolls on the internet are everything. kpop fans highjacking the app for reporting blm protestors, kpop fans buying tickets for trump's rally, and now this. hilarious :D

Those rich assholes can get fucked for all I care. They let the world burn in 2008 with their unrestricted greed and they suffered no consequences while everyone else like my dad lost their jobs through no fault of their own

If had a reliable way of buying shares I would've joined in but now the shares are a bit too expensive for me lol.

I missed my chance to buy it when Melvin got the bailout money from their sugardaddies. I thought they would just accept the losses and move on, but no, they just went full greedy retards. I just got one share at high, but I don't care. Not selling it.

At the end of this shit show, I hope there are some real consequences to these people who play with the market and bet with the livelihood of real people behind the companies they short. They fucked the world economy during 2008 and got bailout money as a "punishment". During the coronavirus relief package, they got a big fat cut as well while companies in need got scraps or nothing.

The establishment politicians were calling for unity bullshit, but now the country is united. If no one at the ivory tower go to jail with this level of unity behind it, it just means USA governmental system is beyond salvaging.

That's how these fuckers play with the world economy:

It's a rigged game. Why this fucker is confessing about illegal things? Because he is bragging and gloating and know they will just buy the government to bail them out with taxpayer money. This is pre-2008 fuckery. They didn't change a bit.