*Stock market hits record highs at a time of record lines for food banks*— Dan Price (@DanPriceSeattle) January 27, 2021
"well, the rich just know how to invest"
*Regular people game the same system through GameStop*
"we must stop this immediately"
Me trying to figure out how the stock market works in one day so I can help bankrupt billionaires pic.twitter.com/I42Hr5SdOq— Queenfish Sadie Long (@MrsHueyLong) January 28, 2021
Good morning to everyone except hedge fund former billionaires pic.twitter.com/JtppPrTczU— Queenfish Sadie Long (@MrsHueyLong) January 27, 2021
Nooooooooo! Filthy peasants, only WE can manipulate the stonks!! https://t.co/3fQYmENdEv— Blompf2024 (Office of the Former President) (@blompf2020) January 27, 2021
Good. I’ve changed my mind on what’s happening. This isn’t some populist revolt against market-rigging hedge funds, it’s a puppet show where shorts are being eviscerated by giant cynical market-makers using Reddit populism as cover. https://t.co/8pmAezbwSG— Matt Stoller (@matthewstoller) January 27, 2021
SEN. WARREN: “For years, the same hedge funds, private equity firms, and wealthy investors dismayed by the GameStop trades have treated the stock market like their own personal casino while everyone else pays the price.”— Josh Caplan (@joshdcaplan) January 27, 2021
Problem Solvers Caucus probably meeting with Third Way rn to draft the “Save our Hedge Funds Act.”— Krystal Ball (@krystalball) January 27, 2021
The GameStop story, and the coverage/response – nasdaq’s threat to halt trading, illustrates the fact there is a set of rules for one class and if anyone else tries to make money off that system, they will be chastised by the “big dogs”. What happened to FrEe MaRkEt?— Chef Andrew Gruel (@ChefGruel) January 27, 2021
You guys understand how manipulated this game is?— Reddit Trading ? (@reddittrading) January 27, 2021
To daytrade stonks & take profit, you legally must have $25,000 in your account. Wonder who they paid to pass that regulation.
What middle class kid 17-24 has 25k sitting around?
They don’t want to let us into trading.
i hope the wallstreetbets subreddit is able to take down more hedge funds by exposing an exploit before these billionaires decide to call the manager of the SEC to take down a subreddit.— hasanabi (@hasanthehun) January 27, 2021
Reddit has a message for the SEC pic.twitter.com/obd2th8lPP— Allum Bokhari (@LibertarianBlue) January 27, 2021
I hope this stonks shit keeps going all year. pic.twitter.com/wnW9MtoUQh— Huey Long Respecter ? (@AmericanTankie) January 27, 2021
I have no idea what is going on.
It feels like the beginning of something new though.
The subreddit’s subscriber count ballooned by 133% to 1.8 million members last year. Growth accelerated further this month, and the forum’s 2.2 million current members now drive one of the platform’s most active pages.
Members have spent the past three weeks bidding up the video game retailer GameStop, and the results have been spectacular. Shares have skyrocketed more than 1,200% since Wall Street Bets first piled in January 11. Their overwhelming bullishness has fueled billions of dollars in losses for short-sellers. One bear has even stopped commenting on GameStop stock, citing harassment from some members.
Wall Street Bets has done this before. Options-obsessed members have boasted about trading everything from newly bankrupt car-rental giants to now-delisted Chinese café chains. They’re particularly big fans of electric-vehicle stocks; Tesla enjoys unique enthusiasm on the forum. …”
Is this “outsider trading”?