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Gamers outsmart Wall Street speculators – are now insulted as “populists” and “Nazis”!

Many speculators use the stock market like a casino. In contrast to gambling, other “players” can manipulate the results through their “playing style”.

Wall Street speculators wanted to make money from GameStop’s decline

Wall Street speculators have been gambling with GameStop shares for many months. The market value of the American retail chain has been falling for years as video games are increasingly being bought digitally. Punters like to go short on such an opportunity . That is, they bet on a falling stock value.

Betting on whether stock prices will go up or down is the main principle of stock market trading.

You borrow shares, sell them, but have to buy them again within a short period of time to return the borrowed shares. If the share price has fallen between sale and purchase, the speculators have made a profit. Since that seemed safe at GameStop, billions of dollars were bet on it. And this is where the gamer mob comes in.

Gamers thwart speculators

In the Reddit forum r/wallstreetbets, a number of users got together to give the speculators a taste of their own medicine: Countless stock exchange amateurs bought GameStop shares like crazy to drive the value up.

The Melvin Capital hedge fund has had to buy back shares that it sold for less than $18 each for over $380! The result: The speculators are losing billions, are on the verge of collapse and are dependent on financial injections worth billions from other hedge funds who want to prevent a chain reaction.

Reddit is celebrating and celebrities are joining in

The countless little fish on Reddit celebrated their victory: “The same rich people that caused the market crash in 2007/08 are still in power and continue to manipulate the market to get even richer, we are just taking back our fair share,” the Chicago Tribune quotes a user.

Tesla founder Elon Musk also supported the campaign by sharing the Reddit link and taking revenge for the fact that Melvin Capital had influenced the stock values ​​of his company (Tesla) several years ago with short sales.

Even three-time kickboxing world champion Andrew Tate  says he would invest half his fortune: “If I had to lose six million to destroy Wall Street, I’ll damned well be there!”

Establishment begins witch hunt on Reddit users

On Wall Street they are now calling for help and trying to prevent their cash cow from being shared. And the media? They are willing to oblige. The Redditors are “populists” and “Nazis”. CNN seriously claims that “Trump’s angry populist appeal” is responsible for the “populist revolt” on Reddit.

Discord has also closed an r/wallstreetbets server. According to Discord, not because of the GameStop campaign, but because of “hate speech”. “Technical problems” are also currently making trading GameStop shares more difficult. However, Reddit users doubt these explanations.

The whole thing will no doubt turn out to be very interesting. The amateur traders recognize their power and are now investing specifically in stocks that are unpopular on the stock market: Blackberry or Nokia, for example. The unpredictability alone is causing hysteria and causing large price swings without direct user intervention. Because that’s exactly how the stock market works.

1 reply »

  1. I’m on their side for taking the banksters down a peg, and doing to them what they’ve been doing to us for decades.
    But I would like to return to a time where this kind of thing isn’t necessary. We were once a nation where the elites were upstanding citizens looking out for the country. Now the elites are only looking out for themselves; that is the problem with globalism.

    Like

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