GameStop Stocks is Trading Places, Populists Over Elite, Is This a War of Techno Geeks?
Stock Market madness was a topic on Wednesday when an apparent people’s revolt against Wall Street unfolded and was so successful it shut down trading for the day, woke up the Joe Biden administration, and forced them to address a current event.
What we saw with Game Stop was confusing for most of us, lets put it this way, today was like the end of Trading Places. The old saying is, “Never start a fight with a guy who buys ink by the barrel”, in this case, we may warn-don’t pick a fight with the techno-geeks who write your software.
This may be the beginning of something much larger than a one-day crazy market. Study the movie Trading Places.
Essentially, the end of Trading Places pic.twitter.com/rp9NyWmXEn
— Edward Meltser (@Edward_Meltser) January 28, 2021
“AMC, Koss, and Express stocks were at the top of the biggest gainers list on Wednesday, in sympathy with another GameStop rocket ride,” Market Watch reported, and it really upset the elite investors and well-connected politicians in DC, so they shut down trading for the day and blamed President Donald J. Trump.
“Well, that didn’t take long; the liberals over at Fake News CNN are at it again. This time trying to blame former President Donald J. Trump for the GameStop $GME Stock Surge that took place on Wednesday and hammered investors,” reported Matt Couch, writing about one CNN Editor Chris Cillizza at Large is blaming President Trump for people revolting against the system.
Couch was reacting to a statement by Cillizza, who remembered some comments Trump made in 2018 when at a rally Trump told his supporters they were the “elite.”
“He was saying that Average Joes needed to rise up and actually show them how wrong they were — that voting him for him was the best way to express their anger and frustration with the condescension of their alleged bettors.
Donald Trump offered himself up as a collective middle finger to the elites. And he won. All of which brings me to the current — seemingly inexplicable — stock surge of GameStop, the video-game seller that has made its money over the years thanks to its locations in malls,” Cillizza said.
Think about that, the anger this man has over people purchasing stocks.
So people purchasing stocks that upset the elite investors is Trump’s fault, and everyone who supports Trump will be demonized now for it.
The left has long demonized the supporters of Trump and the readers and posters of Reddit.
It is important to remember that we are not sure of how this collective dash to purchase stocks unfolded, but this may be some pushback by a group of well-educated technical experts.
Most people don’t really understand what happened or how to explain it.
News of something happening with Game Shop Stock went viral on Wednesday with wild tales of a popular website called Reddit’s despised organizing abilities.
Imagine Getting Short Squeezed as a fund & explaining it your millions of investors how you lost a ton of their money, to meme reddit traders on robinhood.
It must be 2021.
— Reddit Trading (@reddittrading) January 27, 2021
CNN described it as if they were watching a movie, reporting:
“The GameStop frenzy on Wall Street has investors, and much of the internet, enraptured — not unlike a good horror movie. Everyone knows doom is just around the corner for some key players; a lucky few will emerge stronger, and the monster might be subdued but will ultimately come back for a sequel.”
Who’s the monster and who’s the hero, in this case, depends entirely on your perspective.
Democrats are right on it to protect their elite. We know that much.
Janet Yellen is on it. pic.twitter.com/A7zcXxt2V4
— WallStreetBets (@wallstreetbets) January 27, 2021
The CNN article goes on:
“On one side you have a band of mostly young day traders who coordinate on Reddit to drive up the share price of struggling companies, including GameStop (), but also BlackBerry ( ), Macy’s ( ), and AMC ( ).
On the other, you have hedge funds and short-sellers — those who’ve placed bets that a company’s stock will crash. These are the Wall Street elite, the sort of investors millions of people rely on to make the smart decisions that boost their portfolios. But they’re detested by many Millennials and Gen Zers for creating a house-of-cards financial system that led to the 2008 crisis.”
That is the perfect way to describe our storyline. How you see what is going on with the Game Stop Stock depends on whether you are into Crony Capitalism, where or friends of the rich and well connected getting richer, or are for Free Market Capitalism, where anyone with the ability should be able to get richer. It is really that simple.
We know that the Democrats never enjoy it when the little guy does well. Their entire system of dominance over Americans means that they do not appreciate when any little guys are getting rich off of stocks.
That is why Democrat Joe Biden administration is investigating. No doubt they will emerge soon and call the people who benefited on Wednesday “economic terrorists”… no doubt considering their track record of the last week of calling Trump supporters terrorists.
That was a common thought.
Retail investors are going to be labeled domestic terrorist$
— Lana (@lanacle) January 27, 2021
This story will be developing for some time. We know it will be a lot of fun to watch until the feds come in and get mad that Reddit readers may have done what DC does all of the time.
Remember that this story happens on a day when we learn that Nancy Pelosi’s husband invested in Telsa, just as Biden was announcing a massive shift in taxpayer funds to purchase electric cars.
And we are supposed to be angry with the Trump supporters, right?
GameStop sitting amongst Tesla and Amazon after reddit users make it a Fortune 500 company pic.twitter.com/AVUtcjs6gl
— Jordan Deeb (@Jordan_Deeb) January 27, 2021
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