For years, leftists have been calling for a redistribution of wealth. With next to nothing done by those in power, the people of Reddit decided to take down Wall Street. In one week, Reddit has bankrupted Hedge Funds, brought Wall Street to its knees, and brought forth class warfare.
Ok, Not Actually
I know, I know, that was a little dramatic. Essentially, the people of Reddit woke up and chose violence, heavily investing in GameStop ($GME) and AMC ($AMC). Here are the results of their efforts:
AMC had a similar outcome, but not as drastic. Folks on Wall Street cried about Market Manipulation. You know, the thing they are constantly doing?
“Everyone Should Invest… but Only How We Say”
Rich People: wHy dOn’T tHe pOoR jUsT iNvEsT tHeIr mOnEy— Justin McDaniel 🏳️🌈 (@JUSTINtime4aLAF) January 28, 2021
Poor People: Ok.
Rich People: …
Rich People: wait stop
Wall Street wanted people to invest so they’d shut up about Hedge Funds and millions made off the stock market. They thought people would lose their money, so Wall Street could turn around and say “See? It’s hard work, we’re just really smart.” What they didn’t expect was Reddit banding together and bringing businesses back from the dead, as a joke.
After seeing what Reddit was doing, Wall Street decided to get in on the fun. Hedge funds tried to short GameStop, but ended up selling them off at a loss. One of these hedge funds, Melvin Capital, needed to have a $3 billion cash infusion from from Citadel and Point72 to offset their losses during this time. Why am I pointing this hedge fund out specifically? Well, Point72 is owned by Steve Cohen and also lost some money, so there’s your sports connection. But, I am more interested in Citadel
Robin Hood is Stealing from the Poor to Feed the Rich
The trading app Robin Hood is owned by Citadel. People loved it. All my friends used it, it was a simple, quick way to ease into investing. While Reddit was putting all their money into GameStop, Robin Hood was fine with it. Until Citadel started losing money because of it. Robin Hood, not caring about its users, turned off buying of GME, but you could still sell. Oh, so the market manipulation that you have a problem with Reddit doing is fine when it’s an app backed by an investment firm? That’s not even the worst part!
Robin Hood decided, to “mitigate risk,” they were going to sell off GameStop shares at a loss for people. The goal of this is for Wall Street and other companies to recoup their losses. Don’t worry, they’re already getting sued. This takes market manipulation to a whole knew level. It’s bullshit, and shows Robin Hood does not care about it’s users.
Where Do We Go From Here?
Hold the line. Send a message to these pricks. Don’t back down.
I’m not saying bankrupt yourself to send a message. These guys have millions to play with. Will we bankrupt them all? No. Can we make them hurt? Absolutely. Invest in Dogecoin.
To the moon.