Hedge funds shorted more than 100% of all shares of gamestop, to do this that means they had to sell more shares than actually existed.
The hedge funds never actually owned these shares to begin with because they were short selling so they never actually paid for them.
Redditors saw this and decided to buy up all these shorted shares to gamestop a company that wasnt failing that the hedge funds would then be forced to buy back as they never actually owned the shares.
The beauty of this is if you knew what to look for you could’ve seen this coming too. It isn’t mystical, it isn’t magic. They made these billionaires pay back more than what they basically stole by being greedy, this is a good thing.
Let me explain a bit
rich hedge funds have the ability to sell stocks they havent paid for yet that other people actually own and then pay for them after a certain amount of time. they can sell these stocks trade them whatever but they will eventually have to buy them back.
So they shorted gamestop shares from 20 dollars all the way down to 3 dollars, meaning they borrowed shares to then massively sell.
they sold shares at like 20 dollars and then 18, etc. and because when investors see massive amounts of shares being sold they get nervous and then sell their shares which drives the price of the stock ever further down.
so they took something worth 20 that they sold for 20 dollars and all its downward prices and instead of paying for it at $3 dollars they thought theyd CONTINUE to short the market, meaning they kept driving the prices down because apparently this obscene amount of money wasnt good enough.
Redditors who dont say the stock market is magic and mystical astrology saw this very obvious evidence that these hedge funds would be forced to buy back all these fucking gamestop shares and decided to drive the price of these shares up knowing that the hedge funds would then be forced to buy back the shares they have yet to pay for at increasingly wild prices.
what they were looking for was over 100% of all stocks shorted on a company that wasnt even failing or in complete disarray
they used this knowledge to bring stock that was 20 dollars brought down to $3 all the way back up to $140
the hedge funds still have to pay for all of those shares they never technically even owned in the first place which these redditors knew so they held onto these stocks they bought in a company whose shares were oversold.
INSTEAD of acknowledging this they decided to have media campaigns lie and make the stock market look even more mystical and crazy to people who dont know shit about finance so that your average folks wouldnt catch them in the act of just getting a fucking 2 billion dollar bailout for being greedy fucking pieces of shit.
They also dont want your average person to KNOW they do this shit especially when they drive shares so deep into the ground ($3)
TL;DR: Every time you call the stock market magic and mystical and ooo makes no sense, you pretty much allow these motherfuckers to get away with robbery of the average person (given a government bailout is paying for this)
Understanding how these things happen and knowing what to look for allows people to work together and not only stop it but rob back from the billionaires when they pull this shit.
financial illiteracy isnt helpful to anyone.
my point about financial illiteracy isnt to make anyone feel bad it’s more saying you shouldnt repeat the myth that these things dont make any sense especially when something like this happens because very set laws and rules allowed for this to happen and mystifying that only benefits hedge funds who dont want people catching them doing this.
Hi hello yes, OP? Hi, hello… thank you. Holy fucking fuck, thank you. Thank you for explaining what the fuck was going on so simply
It took me 3 watches to realize the door is cardboard and this man is not just freakishly strong.
I assure you this is a standard interior door, usually only exterior doors are solid.
You can see the inside of the cardboard though.
This isn’t a real door, it’s a prop from a movie or TV set.
it has a paper honeycomb for rigidity, and that’s how interior doors are made for modern construction in the USA.
y'all have never kicked a hole in your bedroom door in a flurry of teenage hormonal rage and it shows
If I kicked my bedroom door I’d more likely break my foot than the door.
I always thought people punching through doors or shoving people through doors was just from the movies. Doors in my country are generally solid planks of wood, a polymer of sorts, or metal.
American homes are made extremely cheaply and aren’t built to last.
Steam from hot showers seeps into wall which are not treated to handle moisture, and mold grows in the walls.
Almost every wall or floor is made out of plywood.
Flimsy roofing that can withstand a run of the mill heavy storm, but not much more than that.
Weak foundations that wouldn’t hold up at all if it weren’t for how light and plywood-y the overall house is.
Not every American house is this shitty in all of these ways, but the vast majority of them are, and almost all of them have at least one of these problems. Even rich people’s homes.
no wait this is the most alive ive felt in months someone announce something else batshit lets keep this shit train going what im feeling is not serotonin but BOY is it getting my blood pumping
like, i’m pretty sure tiktok has existed for longer than vine did at this point but i’m yet to actually see an “iconic” tiktok. like people always caption like “this tiktok is ICONIC” but i’ve never seen one stay in the public consciousness for any longer than the 2 minutes it appears on my timeline. i never see people quote tiktoks or like, act them out with their friends or anything, not a single tiktok i’ve seen has had any actual staying power
meanwhile i can just say like “ROAD work ahead?” and i would bet a good chunk of you have just read that in the guy’s voice. i still see people tag things like “i wish i was jared, 19″. one night at the bar where i work we started an impromptu dance party purely by saying “hi, i’m renata bliss, and i’ll be your freestyle dance teacher”
i guess brevity really is the soul of wit
everyone calling me a boomer for this take has confirmed for me that people literally don’t know what boomer means
