Redditors and gamers did to hedge funds what hedge funds have been doing to companies like Gamestop forever.
Hedge funds lost billions. Already getting bailed out.
Gamers and "toxicity" being blamed once again, of course.
— Grummz (@Grummz) January 27, 2021
Elon Musk tweeted out support for the populist takeover of the market, which some credit as being the catalyst for the rocket-like rise of GameStop’s stock price.
Gamestonk!! https://t.co/RZtkDzAewJ
— Elon Musk (@elonmusk) January 26, 2021
The financial establishment is calling for “authorities” to do something about it. Why? The stock market is all about gambling. It’s a game. The finance bros are just mad that some guys on Reddit played better than the hedge-fund managers who are used to winning. Oh well! You win some and you lose some, boys! The memes are hilarious.
Live view of wsb overtaking the global financial system pic.twitter.com/y9jFOxYVew
— Fintwit (@fintwit_news) January 26, 2021
Even NASDAQ was threatening to shut down the market over the mass inflation of GameStop stock to protect their friends on Wall Street. NASDAQ CEO Adena Friedman was literally stuttering her way through a justification for regulating the people who made the house lose. This didn’t convince me of any wrongdoing. Does it convince you?
Weird, they didn't seem to think the market was under-regulated when it was them doing it.
“The financial establishment is calling for “authorities” to do something about it.”
Sorry, but “outsider” trading is not (yet) illegal.