Reddit forum make wall street shit their pants

**Jehan** · 01-29-2021, 04:05 PM

A crazy shit is happenning right now.

Shares of GameStop, the video game retailer, have climbed more than 900% since the start of the year after members of the Reddit community WallStreetBets banded together in an effort to push the stock higher.
The campaign pushed a stock worth $19 at the start of the year to as high as $482.85 on Thursday. Gains by retail investors have come at the expense of sophisticated investors like Melvin Capital and Citron Research, which were forced to close out their short positions as the stock rose in what’s known as a short squeeze

https://www.cnbc.com/2021/01/28/this...unravels-.html

Guys you ALL must take a look at this story.

**~~JamesBond007~~** · 01-29-2021, 04:09 PM

Already read about this morning (below) and I don't care :

https://news.slashdot.org/story/21/0...dit-co-founder

Most people don't understand the stock market is nothing more than a casino.

**Jehan** · 01-29-2021, 04:35 PM

And for once the casino will loose.

**Graywolf** · 01-29-2021, 04:41 PM

Gamestop, Dogecoin, bitcoin today. Actually it is the strike of little fish masses to whales and is is somehow worked. These little fish led by Elon Musk for sure. I think he doubled his worth in cryptocurrencies. Lets see wher will this end.

**Ryujin** · 01-29-2021, 04:43 PM

You can't sell a house that you don't own, you can't sell a car that you don't own, but you can sell stocks that you don't own. It's time to occupy the wall street.

**Nurzat** · 01-29-2021, 05:31 PM

we all seem to follow him on twitter

**Óttar** · 01-29-2021, 05:38 PM

I vociferously oppose eBrokers not allowing their customers to buy whatever security they wish. I am glad there is now a class action lawsuit against RobinHood and Citron. The hedge funds manipulate stocks all the time. How else do you explain the market losing 25% of its value after an FOMC speech by the Federal Reserve chairman on monetary policy 3 years ago? It's not like investors just figure, 'The Fed is raising interest rates by 25 cents, might as well liquidate all my sh*t' all at the same time. Clearly, it's hedge-funds and banks purposely selling off huge lots that they will purchase at a later date for massive profits. What is that, if not market manipulation? The same thing happens during quarterly earnings' reports.