Gamestop Reddit Revolution

[Pavel Mosko]

Heard about this yesterday but didn't really understand the details pertaining to stock trading. The video below helped me understand that. The basic gist of the story is a bunch of Reddit users some of which were former Gamestop employees noted how that stock is over valued. (That once was a nice video and computer game chain but in the era of streaming services like Steam etc. has much less demand). It was obvious that stock was being artificially manipulated and inflated by wall street Moghuls for their own ends, most likely so they could crash it and buy it on the cheap. So the Reddit folks decided to jump on and do the same. They bought the stock high, and instructed their broker to not short it. So from I've read or heard the Stock has surged this last year 2000%. And now that the major Wall Street Companies, are likely to loose a lot of money when it crashes they are upset and whining to congress for regulation and other kinds of action.

PS - I guess the story right now relates to hedge funds. They got out of the market on the stock when it went too high.


Reddit co-founder calls GameStop frenzy a 'bottom-up revolution,' shifting power to small investors

 

[Rene Loup]

The fact that the internet can allow this level of organized high jinks to ensue, is both fascinating and terrifying to say the least...

The day I have children, God willing, I am DEFINITELY going to put heavy restrictions on their access to the internet. As a man who was a free-range child on the internet, this is just one of MANY reasons to do so.

 

[GDL]

Wall Street Is Panicking - The Little Guys Beat Goliath

 

[bèlla]

I doubt billionaires are holding common stock.

Pavel, check out preferred stock, IPOs, venture capital, private equity, and angel investing. It will round out your education on the subject.

Explore what happens when a company fails. Who gets paid and who holds the bag. You’ll have a clearer idea of things afterward.

Yours in His Service,

~bella

 

[Chesterton]

But hedge funds can own common stock, and they're going to have to be selling it to cover the short positions, so this is not good for the overall market. I guess in the long run it'll be okay. It's fascinating that these folks can now just meme value into existence, but that's basically what we all already do with our fiat currency anyway, lol.

 

[bèlla]

It's fascinating that these folks can now just meme value into existence, but that's basically what we all already do with our fiat currency anyway, lol.

I’m looking at the headlines. That reveals more about the end game and the methods they’ll use to get there.

Was Wall Street clueless about the discussions taking place on an open platform? A Google Alert will inform you when your name is mentioned on the Internet.

Dig a little deeper and you discover:

Reddit Gets $50 Million in Venture Funding

The popular online message board Reddit has secured $50 million in new venture capital funding, the company announced Tuesday. The website known as the “front page of the Internet” is getting a cash infusion from a long list of investors that includes Y Combinator president Sam Altman, Marc Andreessen of Andreessen Horowitz and the rapper Snoop Dogg.

Reddit is no longer a scrappy startup underdog. It’s a company with a valuation pegged as high as a half-a-billion dollars that has hosted a conversation with the President, among other leaders. But Wong remains confident that backers will let the newly-rich Reddit keep being weird.

Heck, my favorite deal site was bought by Goldman Sachs.

VC is running the show. Remember Travis? He got booted out of his own company. They cleaned house at Uber.

There’s no way they weren’t aware. It’s all a game.

Yours in His Service,

~bella

 

[Isilwen]

I invested $20.00 in Gamestop. Figured it cannot hurt to do so. Taking a loss so far, but there's still time.

 

[Elliewaves]

Generally, by the time you read of stocks in the news the opportunity to get in on it is over. This may be an anomaly but we'll see.

 

[GDL]

It’s all a game.

It truly is...

 

[GDL]

I invested $20.00 in Gamestop. Figured it cannot hurt to do so. Taking a loss so far, but there's still time.

Loss of a meal or 2 maybe, but somewhat cheap entertainment. I had the pricing on a screen, while working on others, and it was comical watching how fast pricing was moving.

 

[Chesterton]

Was Wall Street clueless about the discussions taking place on an open platform? A Google Alert will inform you when your name is mentioned on the Internet.

I don't know of the discussions. Maybe they weren't mentioning the exact name of any specific firms? Or maybe referred to them by shortened versions of their name as people tend to do on the internet? In any event, I doubt the firms thought there was any reason to be checking. Can bet your boots they're checking now.

 

[Pavel Mosko]

I doubt billionaires are holding common stock.

Pavel, check out preferred stock, IPOs, venture capital, private equity, and angel investing. It will round out your education on the subject.

Explore what happens when a company fails. Who gets paid and who holds the bag. You’ll have a clearer idea of things afterward.

Yours in His Service,

~bella

Yeah it is more about Hedge fund managers. Who are rich etc. Unfortunately one topic I'm a newb on

 

[bèlla]

Yeah it is more about Hedge fund managers. Who are rich etc. Unfortunately one topic I'm a newb on

You’re a good investigator. Understanding the relationship between various entities gives you greater insight. The bottom line is the same. You broach it from different angles. Remember, they don’t think like you. You’ve gotta get in their head to understand them.

What are the hallmarks of elitism? Class, wealth, and privilege. What’s the goal? Rulership. What does that look like? Check your history.

Where are we in the process? Reference the articles on the return of the gilded age and feudalism. We’ve had plenty in the last four years.

How is it manifesting today? The sharing economy.

Yours in His Service,

~bella

 

[Sparagmos]

Heard about this yesterday but didn't really understand the details pertaining to stock trading. The video below helped me understand that. The basic gist of the story is a bunch of Reddit users some of which were former Gamestop employees noted how that stock is over valued. (That once was a nice video and computer game chain but in the era of streaming services like Steam etc. has much less demand). It was obvious that stock was being artificially manipulated and inflated by wall street Moghuls for their own ends, most likely so they could crash it and buy it on the cheap. So the Reddit folks decided to jump on and do the same. They bought the stock high, and instructed their broker to not short it. So from I've read or heard the Stock has surged this last year 2000%. And now that the major Wall Street Companies, are likely to loose a lot of money when it crashes they are upset and whining to congress for regulation and other kinds of action.

PS - I guess the story right now relates to hedge funds. They got out of the market on the stock when it went too high.


Reddit co-founder calls GameStop frenzy a 'bottom-up revolution,' shifting power to small investors

Heaven forbid the regular people treat the market like a game! I wonder if this will spur more similar actions?

 

[GDL]

Heaven forbid the regular people treat the market like a game! I wonder if this will spur more similar actions?

We've seen many industry disruptions by the generation that has these new technologies. We're now seeing a generation that has grown up with them from birth.

Several of the early disruptions were in industries that had footholds for decades & longer, and the disruptions, however large or small, were a new way of thinking that saw no reason for the old ways & products to have the control they do.

I've no doubt we're still only seeing the early stages of a generation that will continue to advance the mentality of the new vs. the old in just about everything. Some of it good, and some of it not good, as always...

Simply put, there is a healthy (and always an unhealthy) disrespect for the old. There are very few institutions that will not be affected, given time, IMO. I don't see this as an unimportant volley, no matter who or what underlies it.

 

[Michie]

Heard about this yesterday but didn't really understand the details pertaining to stock trading. The video below helped me understand that. The basic gist of the story is a bunch of Reddit users some of which were former Gamestop employees noted how that stock is over valued. (That once was a nice video and computer game chain but in the era of streaming services like Steam etc. has much less demand). It was obvious that stock was being artificially manipulated and inflated by wall street Moghuls for their own ends, most likely so they could crash it and buy it on the cheap. So the Reddit folks decided to jump on and do the same. They bought the stock high, and instructed their broker to not short it. So from I've read or heard the Stock has surged this last year 2000%. And now that the major Wall Street Companies, are likely to loose a lot of money when it crashes they are upset and whining to congress for regulation and other kinds of action.

PS - I guess the story right now relates to hedge funds. They got out of the market on the stock when it went too high.


Reddit co-founder calls GameStop frenzy a 'bottom-up revolution,' shifting power to small investors

Have you seen the Trevor Noah video Pavel?
Trevor Noah (as Margot Robbie!) Attempts to Explain How Internet Mob Drove Up GameStop Stock

 

[Pavel Mosko]

Have you seen the Trevor Noah video Pavel?
Trevor Noah (as Margot Robbie!) Attempts to Explain How Internet Mob Drove Up GameStop Stock

That's cool I may need to start watching the Daily show again... Now I need to find the original Margot Robbie video to truly appreciate it.

 

[jacks]

This will undoubtedly spark some new SEC rules. Maybe do away with short selling all together?

 

[Michie]

Have you seen the Trevor Noah video Pavel?
Trevor Noah (as Margot Robbie!) Attempts to Explain How Internet Mob Drove Up GameStop Stock

I don’t usually find him all that humorous but he nailed this one.

 

[Michie]

The GameStop Boom | City Journal