I am a member of this community before I’m a GameStop fanatic, for whatever that’s worth. I am seeking your opinion as it related to tearing down capital and returning the definition of value to labor. So what do y’all think of this short squeeze situation?
If you’re unfamiliar the gist is that wall st hedge funds (those responsible for the 08 crash) have “shorted” GameStop, betting that it fails. Interweb bozo’s saw and shared this fact, bought the stock, driving the price up, thereby making the short position a failure, and now the hedge funds are bleeding because of it. They are bleeding interest right now, kicking the can down the road; if they closed their short positions and took the loss today it would be expensive to the point no one would keep their job, but the institutions wouldn’t fall. They are deepening their short position, doubling down. The inter web community is convinced a huge payday / toppling of the financial power system is months away.
Can you dig this? As a socialist I’m extremely interested in disrupting crony capitalism. Any of y’all into this?
Can you dig this? As a socialist I’m extremely interested in disrupting crony capitalism. Any of y’all into this?
Surely you're joking
lmao we already did this nonsense like 3 weeks ago or however long it's been
it crashed back in january but had climbed back up significantly until last week when people started panic selling again. i think at the least, the concept has been proven.
im not sure how much of it is hedge funds but im far from an expert so you could be right. im just thinking from the perspective of average traders who probably had their life savings tied up in gme, saw the crash, had no choice but to hold in case it went back up, then got out the first chance they got.
Yes exactly. This is not a populist movement vs the establishment, it is now a battle among whales. However it was sparked by a populist movement, and it does threaten the inner workings of capital and market manipulation more than any other single effort in our life times
It’s a reasonable ask chapo post. Plus this could be a very nice ratio
i think it sadly lost its steam. I offer my full support to those who invested in Gamestop and hope they just keep that money in there, but I sadly think those cronies have won, particularly by leaning on Robin Hood.
the more I try to understand it the less it makes sense but I can't really see a reason Shorting should exist in the first place. And that's what the whole Gamestop thing is about and that's why I love it.
Of note is the swarm of white blood cells rushing to the scene to protect and heal the wound, in this case MSM issuing an undeniably bias and motivated campaign of trying to convince people to sell their GameStop stock, which would relieve pressure on hedge funds. This is the strongest confirmation I’ve seen that the movement to bankrupt the hedge funds is viable.
This is what occupy wall st was supposed to be
I'm sorry but the connection to Occupy is just the narrative attached to this thing to really help it sell. They're not going to let you win, and as many of the posters on /r/wallstreetbets made clear, a large chunk of the bulls are just in it for the money. One of them explicitly said that they'd be just as enthusiastic if this were squeezing out grandma's retirement money.
Capital can and will just change the rules so that this doesn't happen so easily again. Just look at how much control the big players have over the very interfaces that retail traders use to access the market.
