Twitter has been absorbed with a David and Goliath-style story this week, and it’s producing some pretty epic tweets.
If you’ve been on the internet in the past two weeks you’ve likely at least heard ramblings about the stock market and GameStop — a gaming retailer consisting largely of brick-and-mortar stores that has taken a financial hit thanks to online retailers and the pandemic.
Essentially, a bunch of Reddit users in a group called r/WallStreetBets learned that hedge funders were betting that shares in GameStop would plummet, which would create an opportunity to make money. So, in response, those Redditors decided to band together to make GameStop’s value surge in the stock market ― earning green investors a lot of money and causing the hedge funders to lose money.
in case this is similarly helpful for anyone else…
me: can u explain in 20 words what’s going on with “game stop”?
my bf: …..finance bros bet it would drop. reddit stock traders juiced it so it would rise, which fucked the finance bros
— rachel handler (@rachel_handler) January 27, 2021
Due to this success, Reddit users in the r/WallStreetBets subreddit also campaigned to increase the stock prices of other dwindling companies like AMC Entertainment Holdings, BlackBerry and Nokia.
Yet, on Thursday, the popular stock-trading app Robinhood abruptly blocked users from purchasing stocks like GameStop and AMC. Robinhood users pushed back on social media, calling the move “rigged” and “complete bullshit.” This resulted in the term “DO NOT SELL” trending on Thursday as well.
So, with this info in mind, please enjoy a few very funny tweets about the entire financial fiasco … while it lasts:
GameStop, BlockBuster, Bed Bath & Beyond, AMC… it’s like some kids remembered their favorite places in the mall 20 years ago and decided to invest in them pic.twitter.com/QOB8vLtOKk
— Mike Murphy (@mcwm) January 27, 2021
Trying to keep up with what’s going on between Wall Street, GameStop and Reddit?
Don’t worry, here’s Margot Robbie in a bubble bath to explain… pic.twitter.com/dSO8z2QcK0
— LADbible (@ladbible) January 28, 2021
Wall Street: The stock market is a perfect system that reflects real economic value
Reddit: Artificially boosts GameStop shares to hurt hedge fund investors
Wall Street: pic.twitter.com/VDY9vGKVKi
— Lily Simpson (@LilySimpson1312) January 27, 2021