Image: SIPA USA/PA Images Image: SIPA USA/PA Images LIKE MOST OF us, you might be wondering what hell is going on with GameStop.
The sans-culottes of this particular revolution — which is really more of a curiosity than anything else — are the seemingly ordinary Joes who have organised online through social media platform Reddit to buy some of the most bet-against stock on US markets. The impetus from all of this comes from a subReddit page, r/WallStreetBets, where many of these hobbyists — some 3.5 million of them, in fact — share their opinions and thoughts on stock market punts.
Remember, the companies in question are ones that normally, stock market investors wouldn’t touch with a barge pole. But if you anticipate that a stock’s price will decrease, you could take a “short” position. To do this, you would borrow shares of the stock and sell them to another investor . If you can sell the stock to that new investor for a higher price than what it will cost you to purchase the shares from the original owner to cover your borrowing, you will profit from short-selling.
#Open journalism No news is bad news Support The Journal Your contributions will help us continue to deliver the stories that are important to you And what started almost as a meme is spreading to other countries.
And we call Putin 'dictator' for controlling media or finances....
This is one of the rare times where people of all political affiliations agree with the sentiment that these guys can go fuck themselves.
Still going on today full on . All they are going is pulling the same scam the establishment elite was pulling with the help of establishment media for years
Brilliant
No one got upset when the 1% made $1.3 TRILLION from the pandemic, but heaven forbid the rest of us make money trying to save a company from the wolves!
A great day, populism reaches new heights.