Archive: https://archive.ph/wip/F0rjH

Image rehosted: https://i.imgur.com/yiglXge.jpg

OP: https://www.reddit.com/user/Giamma4X

Current GME value: $25.56

lol, lmao, fucking choke.

  • Anemasta [any]
    ·
    2 years ago

    Does anyone have a primer on what happened to the whole GME thing? I remember it making waves in like February of the last years, everyone was discussing it, chiming in, making predictions and than it sort of disappeared from the public eye...

    • happybadger [he/him]
      ·
      2 years ago

      GME brought on a new CEO, Ryan Cohen, who tries to be a store brand Elon Musk on twitter. The r/GME subreddit and r/Superstonks formed a personality cult around him and a pyramid scheme around the stock. When the MOASS/mother of all short sells/Millerite apocalypse didn't come, they switched to desperately patronising Gamestop and worshiping its upcoming NFT marketplace that was going to dominate crypto. Now it trades at a few thousand dollars per day, on par with its operating costs, and NFTs as a whole have lost something like 90% of their trading volume if not more. The GME cult also rallied around other failing companies like Bed Bath and Beyond, AMC theatres, and probably a couple others by now. r/GME_Meltdown has become the place to watch the goobers autocannibalise.

      • InevitableSwing [none/use name]
        ·
        2 years ago

        Thanks. I've always meant to google about the GME thing but I was too lazy. I had a super-quickie look at his Wikipedia page.

        Ryan Cohen

        Legal

        Cohen was named in a federal lawsuit on August 24, 2022 for an alleged fraudulent scheme to artificially inflate the price of Bed Bath & Beyond's publicly traded stock in a pump and dump. The suit alleges Cohen conspired with company CFO Gustavo Arnal to release "fraudulent and misleading SEC filings". It claims damages of $1.2 billion in a class action suit.