Gamestop Opportunists Vs. the Hedge Funds
The financial world is being rocked by some unexpected rebellion against the financial establishment over hedge funds who 'shorted' shares of Gamestop stock. Some things lined up to create the largest transfer of wealth from millionaires and billionaires to middle to upper-middle class people in recent history and thus freaking out money insiders BIGTIME.
If you're not familiar with what "shorting" a stock is, or how hedge funds work, or how the stock market being utterly divorced from reality and only going up can shift a paradigm, you may need a little catching up.
It's all explained very well here:
www.vice.com/en/article/pkdvgy/send-this-to-anyone-who-wants-to-know-wtf-is-up-with-gamestop-stock
I've been hearing about this for a little over a month now on the fringes of my nerd friend-of-friends groups. I don't have any sort of investments to begin with, so it's been too far out of my personal interest area until recently to really follow much, BUT--
-- now it's becoming a THING that gets mentioned in history books, and is also really hilarious and satisfying on some levels, so I felt the time had come to share this with everyone.
Yes, things really are rigged for the already rich to get richer, so when a bunch of people collectively work together to "beat the system" it's pretty awesome. I must admit, though, that I'd be tempted to sell at least some of my shares early (if I had any) to make sure I had at least a little money no matter what. However, if "holders" are right, they will make a mint off everyone buying and holding as long as they can. It's sending the stock prices through the roof, and it appears may completely eradicate a couple of massive hedge funds in the process.
I'm wondering when or how the financial class will find a way to prevent "mass holding" for the purpose of getting rich and sticking it to the rich at the same time. This type of scenario must be their worst nightmare!
If you're not familiar with what "shorting" a stock is, or how hedge funds work, or how the stock market being utterly divorced from reality and only going up can shift a paradigm, you may need a little catching up.
It's all explained very well here:
www.vice.com/en/article/pkdvgy/send-this-to-anyone-who-wants-to-know-wtf-is-up-with-gamestop-stock
I've been hearing about this for a little over a month now on the fringes of my nerd friend-of-friends groups. I don't have any sort of investments to begin with, so it's been too far out of my personal interest area until recently to really follow much, BUT--
-- now it's becoming a THING that gets mentioned in history books, and is also really hilarious and satisfying on some levels, so I felt the time had come to share this with everyone.
Yes, things really are rigged for the already rich to get richer, so when a bunch of people collectively work together to "beat the system" it's pretty awesome. I must admit, though, that I'd be tempted to sell at least some of my shares early (if I had any) to make sure I had at least a little money no matter what. However, if "holders" are right, they will make a mint off everyone buying and holding as long as they can. It's sending the stock prices through the roof, and it appears may completely eradicate a couple of massive hedge funds in the process.
I'm wondering when or how the financial class will find a way to prevent "mass holding" for the purpose of getting rich and sticking it to the rich at the same time. This type of scenario must be their worst nightmare!