Like, maybe some failson at a hedge fund will take the fall for this and get hired in the same position somewhere else within a month, but the people who are going to get hurt the most are the poor people who come in last minute, think they're making a safe bet with their meager savings during a fucking depression, and get burned big time
"I know how we can totally own the banks! Ready? We'll drive stock prices up, making them a bunch of money!! They'll never see it coming!"
But thats not whats happening? The whole reason this short squeeze is possible is because wall street parasites got too greedy and got caught in the act. Multi-billion dollar hedge-funds are literally going to go bankrupt because of this lol.
Most gamestop stock is owned by institutional investors. As is the case with most stock, generally. Blackrock owns 13% and has made over 1.3 Billion on this so far. That hedge fund dude from the big short has made over $250 million. And so on. Even that dude on Wall Street Bets who started this was already a big time trader playing with huge sums of money. I know the narrative is that we're all sticking it to the greedy wall street people, and the media is happy to run stories with that narrative too because it's exciting and will draw clicks.
But the reality is that a few redditors will get very rich. A few more will make some money. And the banks will make lots of money, as they always do when stocks get traded.
It's fine to participate in capitalism because that's the system we live in. I'm not trying to say you can't be a communist and make money. But we can't delude ourselves into thinking that we can somehow use capitalism to defeat capitalism. Line go up has always been silly; it's not somehow better when a bunch of ableist, douchy techbros on Wall Street Bets say it.