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Okay, I am coming back on here for 30 minutes to explain why what's happening now on Wall Street is f*cking amazing.
A thread because history is happening and Wall St for the first time ever is kind of losing? We love to see that/
A thread because history is happening and Wall St for the first time ever is kind of losing? We love to see that/
So if you've ever watched "The Big Short" a short is basically a bet against a stock become so low that the company basically goes out of business. If you win that bet, your returns are like many times whatever you bet basically.
People who usually "short" against companies are already pretty freaking rich so I think that is part of the reason @wsbmod did what they did. Here's what they did (I think):
They said "okay, these rich people are going to get richer. so what if we make sure they lose this bet?"
They said "okay, these rich people are going to get richer. so what if we make sure they lose this bet?"
If we artificially force the price up because the stock market is basically magic and fairy dust then they will lose BIG. And that's exactly what happened.
@GameStop basically was worth ~$5 or something 2 weeks ago, @wsbmod drove it up to almost $500 at its peak yesterday.
@GameStop basically was worth ~$5 or something 2 weeks ago, @wsbmod drove it up to almost $500 at its peak yesterday.
Wall St is now panicking because people who are playing the game aren't supposed to be playing the game muhahahaha and so trading platforms like Robinhood are probably getting pressure from big banks to stop the trades. And that is why "DONT SELL" and "HOLD THE LINE" is trending!
Here is why this is history: I am pretty sure there has never been collective action to ensure that bets against declining companies don't fail and this was orchestrated by people NOT on Wall St.
There are some other thoughts that actually Wall St isn't kind of losing, small investors are...so let me clarify:
This is the first time I've seen Wall St shook in a BIG way whether its for better or for worse depends on where you sit? Here for dialogue and/or correction.
This is the first time I've seen Wall St shook in a BIG way whether its for better or for worse depends on where you sit? Here for dialogue and/or correction.
I am going to be on this for a couple more minutes, but I am here for any kind of critiques, hot takes, thoughts, etc.
This is pretty interesting and the fact that I literally watched The Big Short yesterday unbeknownst of what was happening is *chefs kiss*
This is pretty interesting and the fact that I literally watched The Big Short yesterday unbeknownst of what was happening is *chefs kiss*
@KarenAttiah is right on time as always: https://twitter.com/KarenAttiah/status/1354827969315876864?s=20
lol so yeah we will see what happens when the dust settles but this whole entire thing is super interesting to watch considering what happened in 2008 - I know they aren't the same, but still... super interesting.
Alright, see y'all next week.
Alright, see y'all next week.
Another perspective: Wall St =/= hedge funds so they're not really shook, but this being reddit led is pretty impressive though you know we really dont know *who* is leading this effort: https://twitter.com/economeager/status/1354829738062344201?s=20
Anyway, I'm study economics so don't ask me about the stock market. This entire thread could be off base but I am just relaying what I understand of the situation. If it's inaccurate, I'll delete later.
Okay, now I am really off. Have a great day!
Okay, now I am really off. Have a great day!
Another perspective to consider h/t @SPeitsch! Keep sending your articles and thoughts because we don’t know wtf is happening! lol
https://vice.com/amp/en/article/y3gepx/investment-firms-are-the-big-winners-of-the-gamestop-stock-revolution-so-far?__twitter_impression=true
https://vice.com/amp/en/article/y3gepx/investment-firms-are-the-big-winners-of-the-gamestop-stock-revolution-so-far?__twitter_impression=true
