Quote:
|
Originally Posted by Nich
what a day.
and the narrative machine is in full swing:
-WaPo comparing WSB redditors to "Trump supporters"
-Mashable defend Discord channel pulled because "hate speech"
-CNBC spent all day crying that WSB people couldn't possibly be as sophisticated as hedge fund analysts. oh and think of the poor retail investors who are going to get hurt!
who can believe their bullshit?
|
CNN
Quote:
As a result of the belief among the pro investor crowd that GameStop was, essentially, doomed, they began shorting the stock -- essentially betting on it to fail. This happens all the time to a variety of stocks with very little fanfare. It is the way of the modern stock market.
Except that this time, amateur investors decided to revolt against the pros. Using Reddit -- and a subreddit known as r/wallstreetbets -- the amateurs began a coordinated effort of buying GameStop stock to drive its price higher and higher. (It's worth noting that Reddit was also a gathering spot for some of the most ardent Trump supporters in 2016.)
|
Shorting stocks and driving businesses into bankruptcy is perfectly normal nothing to see here and did we mention that Reddit is the home of the most ardent Trump supporters