Posted on 02/02/2021 4:46:56 PM PST by Reverend Wright
Redditors captured national headlines last month by driving the price of GameStop stock over 14,000%, catching bearish institutional investors in a classic “short squeeze.” A spike last Wednesday drove the shares up 40% and sent the broader market into a frenzy. Everyone wanted in on the action. New “meme stocks” like AMC, Nokia, and Blackberry—hot brand names from 2005—percolated up from the online ferment to ride the tail winds of GameStop’s success. Dave Portnoy of Barstool Sports purportedly invested a million bucks in a handful of these names. Others followed. I followed. On Wednesday, 1.25 billion shares of AMC were traded, up from a daily average of about 25 million...
Like many others, I haven’t stopped smiling since I entered my buy orders, arm-in-arm with friends against an unblinking machinery we might yet make blink. This fight is going to create a lot of chaotic energy. It already has. The energy is not well formed, and it is as yet largely undirected. It is not irrational, but it is rash. It is going to strike out in unimaginable ways at what it perceives as adversarial to its interests. It will be pushed back. It will be, at times, defeated, suppressed, sublimated.
(Excerpt) Read more at americanmind.org ...
The main effect, in my view, is millions more have personal, first hand experience at how Wall Street insiders rig the system for themselves. WSB had 5+ million new members register. and there were millions more like me who just lurked.
A media campaign with this reach and effectiveness would take years and Billions.
Remember there are two sides to every story. The financial world is complex and highly regulated and not very well understood. I’m not a financial adviser but there is information out there showing not everything is as it appears.
A good use would be the censorship by Big Tech. Have all Redditors out the individuals who are “fact checkers” and deplatformers. Let them be known for who they are and what they do.
Around 87 after hours last time checked.
Portney has paper hands because this morning he said he sold out and said he took a 700k loss. I’m guessing his loss was that much off the highs but I don’t know.
I have one GME and some AMC. Even so I’m not liking watching it go down but it’s fun to be involved. Can we go after Soros? I’d love that!
I’ve been watching it too! Fascinating. With all the new users it’s hard to tell what’s disinformation and what isn’t. I think they would have been better served if they would have stayed focused on GME though.
RH reportedly going IPO
GME at around 85 now after hours
The very first word in the headline threw me off for a while; “Stonk”. I wasn’t sure if I wanted to keep reading, know the pattern of a verb as “Stink, Stank, Stunk”.
“ Like many others, I haven’t stopped smiling since I entered my buy orders, arm-in-arm with friends against an unblinking machinery we might yet make blink.”
Hopefully that feeling is worth the money you have lost or will lose.
Yes it is. Compared to money donated to the campaigns of useless politicians, this is buying a lot more,
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