The recent GameStop ($GSE) boom is causing a stir in even the most mainstream social media groups, but what is really going on? This article will attempt to explain how a small group of extremists are attempting to get rich, no matter the cost to the market as a whole…
The story begins on what can probably be considered the most irresponsible forum site Reddit, or as Reddit calls it, a “subreddit” of itself, WallstreetBets (r/wallstreetbets)
WallStreetBets’ Mascot Has an Uncanny Likeness of Former President Donald J. Trump
WallStreetBets’ mascot features business attire with a blonde windswept toupee hairstyle and featuring the “deal with it” meme culture sunglasses. It is clearly an alt-right’s idea of a cartoon caricature of Donald Trump, who was impeached twice. Most notably for not condemning white supremacy and encouraging violence by domestic terrorists.
WallStreetBets is notorious for the ‘YOLO’, a particularly idiotic financial move where one puts their entire savings in a stock. Some get rich off of it, but much more commonly, people lose everything they have.
Last week, Friday, Jan 29th, when a user known as “u/deep(sic)*explicitive*value” posted that they planned on investing in GameStop. (Yes, the Blockbuster of video games)
People of Reddit decided to follow his foolish advice in enough numbers that it caused $GME to rise. This is bad, because many established and influential leaders in the industry all bet on the stock going down.
The $GME stock went up 150%, despite the industry pleading these bad actors to stop.
But why GameStop of all companies? It is still unclear as to why “u/deep(sic)*explicitive*value” picked GameStop, a video game company. It is known that the video game community harbors countless right-winged racists, homophobes, transphobes, and all bigots alike, they have even targeted children games! It is possible that the gaming community has taken an anarchist dog-whistle approach after the loss of their fascist overlord and wants to watch Biden’s unity plan burn and fail.
Trust the Experts
These stock market experts were obviously upset. This band of Redditors were attempting to ruin their livelihood. One such investor pleaded with the Redditors in a now deleted YouTube video. Instead of listening to his cries, WallStreetBets decided that they would crucify and mock him, among other experts.
This isn’t the first time masses on Reddit have forgotten to listen to the experts. Less than a year prior, Reddit was the forefront of the “anti mask” community, a racist and extremist viewpoint that has definitely cost hundreds of thousands of lives.
These are the experts. They obviously know much more than we do, we need to trust them. When they say a stock will go down, it is our job to listen. Investing against the experts could result in an economic collapse. How will they feel when their actions cause 1000s of investors to lose their businesses?
I don’t think they will care. These people are obviously heartless. Reddit and its ties to the alt right are heavily documented. How much money will satisfy these thieves? Some, who bought the stock for $30, will not settle until the price reaches the $100s!
No matter what your thoughts on The stock market are, you can’t deny that those involved have livelihoods too. We hope that Reddit is happy that they are killing small businesses.