The Great ‘Meme Investor’ Assault: How a bunch of Reddit degenerates could singlehandedly force billionaire hedge-funders into bankruptcy
Power to the players!
There couldn’t be a better example of wealth being generated without value, than the “short-sellers” of Wall Street. This specific subset of hedge fund investors have been coordinating runs on companies for years, by betting against them and driving their stocks into the ground — so that when the company eventually fails, they make billions of dollars off of it.
It’s gambling, pure and simple. It’s a game that hedge funds have been playing for decades, and which they’ve been playing all by themselves. They were the only ones who could realistically afford to do so.
Until now, that is.
Last Saturday the 23rd, though, a bunch of degenerates from Reddit’s r/wallstreetbets entered the game. And they’re throwing the status quo into flux, with their collective purchasing power. These simple idiots have been making billion-dollar companies squirm and scramble to shut them down as they realize how deeply fucked they might actually be.
But, hey, that’s what happens when you treat the stock market like a casino and make reckless bets — sometimes you lose your ass. The only difference is, this time it's rich people losing — and they're playing dirty to try and save some face before getting bent over by the little guys.
If you haven’t been following this story, here’s the basics of what went down (as best as I understand them): The subreddit r/wallstreetbets noticed that hedge funds were short-selling GameStop (GME), driving its stock prices down and sounding the death-knell for the beloved gaming chain. Feeling nostalgic about GameStop, the gamers, nerds, neards and dweebs of Reddit started buying shares of GME en masse. People started sinking their life savings into these stocks, buying as much as their bank accounts would allow, and holding onto them like life tubes.
“Hold the line retards!” One user commented, in the r/wallstreetbets thread on the topic.
“4000.69 or bust.” Another commented, in reference to their goal for stock prices.
“Went in at 350 so I’m holding for dear life.”
“Look at where we closed yesterday. Look at where we are now. We are winning. Stand together like the bunch of absolute retards we are.”
“BUY RETARDS BUY WE GOT THIS APE TOGETHER STRONK!”
Over the course of four days, they drove GME’s market value back up, from $1.24 billion to $10 billion — their stocks increasing by 700%. Stocks that started at just $18 a pop one week ago, soared to almost $470 apiece.
Because of that insane spike in prices, major hedge funds that had bet heavily against GME now stand to lose billions of dollars to a bunch of retards from r/wallstreetbets. Melvin Capitol, for instance, is in so balls-deep that for every $11 the GameStop stock rises they lose another $1 billion(!). People have been pouring their life savings into GME stocks, even borrowing money from their wive's girlfriends to front — and for many of them, it's no longer about making tendies and scoring big on this Wall Street bet — it's about making a point: these games aren't just for the eliete, We The People can play them too.
WSB now from r/wallstreetbets
Of course, all of this is causing bankers, hedge fund investors, market speculators, politicians and mainstream media figures to freak the fuck out. They’re hurling accusations of “market manipulation” around, threatening to slam this social media gambling ‘loophole’ shut with regulations and legislation, trying to make this situation seem threatening, like foreign manipulation of our domestic markets. On Thursday morning trading companies like Robinhood and Interactive Brokers started restricting trading on GME stocks — essentially freezing the power of retail investors (aka We The People) to buy GME. That caused the market value of GME stocks to plummet Thursday morning, from $469 to $126 — and then all day it remained in a state of uncertainty, climbing and falling, climbing and falling. By friday it seemed to have levelled out around the $300-350 mark.
The hedge fund investors are playing dirty. And the Main Stream Media and our government are backing them up. Some are already discussing limiting stock trades to certified investors after this, which would essenetially kill our so-called "free-market."
However, the problem is, r/wallstreetbets isn’t doing anything that these hedge fund investors aren’t guilty of themselves. They’re playing exactly the same game these Wall Street assholes have been playing for years and at our expense. Which is why this is so satisfying to watch this happen: these billion-dollar companies, that have been making money hand over fist for decades, creating wealth without value, treating the stock market like a casino and crashing our financial markets because of their careless gambling, are finally getting a taste of ther own medicine.
Now, those bastards staring down the barrel of bankruptcy. They’re crying out to legislators and bankers to bail them out. To help them cover the tens of billions of dollars in losses that the retards over at r/wallstreetbets are positioning themselves to cause them.
It’s hard not root for the underdog, here. Go get ’em you degenerates — the eyes of the world are upon you. Hold the damn line! DON’T SELL. Make these billionaires suffer.