Thread: #Gamestop #wallstreetbets

What's going on with #Reddit and Wall Street is absolutely amazing!

It's Occupy Wall Street 2.0.

This is how it works:

1. Rich Wall Street funds aggressively „short“ stocks from companies that are failing or hit hard by Covid like GameStop - this means they sell stocks they don’t really own (yet) - they are betting on the stock price falling and MAKING the price fall in the process

2. Wall Street can be almost 100% certain the stock will tank: the process of shorting makes the prices fall, so Wall Street is always right - it’s a rigged game

3. Of course, this really hurts companies like #GameStop, but #WallStreet makes money so who cares

4. Actually, some Reddit nerds care

5. They get together and say fuck you! We are ALL buying this stock today!

6. The stock price rises despite Wall Street short bets!

7. Wall Street loses their bet (billions of dollars!) and actually have to buy the stock back at a higher price (instead of buying the stock back at a far lower price after almost killing the company with aggressive shorts)

8. This now drives the price of the stock even higher -making Reddit nerds very happy in the process

9. Wall Street cries foul play, actually shuts down trading and closes Reddit groups

10. Reddit heroes band together and vow to organise and strike back even harder next time

(11. Eventually everyone decides to opt out and just buy somthing that can't be shut down/controlled: #Bitcoin )