a really interesting story about Gamestop, short sellers, and Reddit millennials going at each other, with the big boys taking it in the shorts, so to speak, and some little guys getting rich a little bit complex but if you're interested in the stock market worth the read from a couple of different angles: ************************************************* kind of an overview: https://crooksandliars.com/2021/01/reddit-drives-gamestop-surge-and-traders a couple of more detailed stories worth the read (again, only if you're interested in the market, the ridiculous excesses of capitalism, revenge, and a mad magazine version of the new world order): https://www.vice.com/en/article/qjp...605&utm_medium=social&utm_source=VICE_twitter and: https://www.vox.com/the-goods/22249458/gamestop-stock-wallstreetbets-reddit-citron and: https://slate.com/technology/2021/01/gamestop-reddit-wallstreetbets-gme.html ******************************************************* I always wish I could have gotten in on runs like this but the truth is I'd always be late to the party and wouldn't have the balls to ride the roller coaster anyawy
A few of us have been on this. I bought in at $41 because of WSB and @EL PRESIDENTE. We've been talking about it on the Covid financial thread.
Basically, young people figured out how to really "occupy wall street." Cant beat 'em, join 'em, then beat 'em.
The autistic shut-ins of reddit with that COVID stimmy have done more to fundamentally change the street than any of the occupy wall streeters in just a few short weeks!
ok...I missed it...so many threads...too little attention span by the way, do you still own the shares you bought? it hit a high of $380 today https://www.huffpost.com/entry/in-b...big-players-flinch_n_60119c83c5b67848ee7d4deb
Reddit group that drove GameStop shares 1,700% higher and cost Wall Street short-sellers billions goes PRIVATE and messaging platform Discord BANS their server for 'hate speech' in the wake of SEC and White House 'monitoring' GameStop shares rose another 130% on Wednesday amid a Reddit buying frenzy The struggling company runs a chain of video game stores across the country Group WallStreetBets is leading charge to inflate stock and punish hedge funds GameStop stock is up 1,700% since January 1 in run that hurt short sellers Hedge funds Citron and Melvin Capital likely lost billions as the shares rose But GameStop's three largest shareholders have gained $3B in recent moves They include board member Ryan Cohen, whose shares are up more than $2B GameStop CEO Geroge Sherman is up $500M and investor Donald Foss $800M TD Ameritrade instituted unprecedented restrictions on GameStop stock Wall Street investors express alarm and say they have never seen anything like it When the bubble collapses all of the shareholder gains could be wiped out Biden's press secretary says that his team is 'monitoring the situation' https://www.dailymail.co.uk/news/ar...holders-gotten-3BILLION-richer-two-weeks.html
...some nefarious shit going on here where WSB redditors getting blasted by hedgefund hackers posting tons of faked hate speech to get them shutdown. But these guys are like a massive hydra now so onto new subreddits like wallstreetbets2 and wallstreetbetsnew
Wow.. In a message titled, 'Where do we go from here and who is going to step up to help us?', moderators accused Discord of 'destroying' their Wallstreetbets community, but failed to address why the forum had gone private on Reddit. 'We're suffering from success and our Discord was the first casualty. You know as well as I do that if you gather 250k people in one spot someone is going to say something that makes you look bad,' the statement read. 'That room was golden and the people that run it are awesome. We blocked all bad words with a bot, which should be enough, but apparently if someone can say a bad word with weird unicode icelandic characters and someone can screenshot it you don't get to hang out with your friends anymore. Discord did us dirty and I am not impressed with them destroying our community instead of stepping in with the wrench we may have needed to fix things, especially after we got over 1,000 server boosts. That is pretty unethical.'
