[high_density]

ditto this. And the motivation for organizing "buy gamestop" isn't altruistic as it seems..

1. buy gamestop stocks

2. call in SJWs to 'fight against the bad guys (hedge funds)' by buying gamestop stocks

- they relay this message to others

3. watch price go up, thanks to campaigns from SJWs

4. sell off when the price is right (feels highest)

5. watch the price go back to normal valuation - you can't expect this high price to continue forever.

6. watch people who were fooled by SJWs cry over their lifesavings

this is a financial crime, though the victims fell for a temporary 'feel good' moment... so I guess they 'paid' their lesson?

as for Robinhood, blocking 'buy' seems to be a protective measure that backfired too much. Robinhood's branding depends on how it can explain this well...

edit: I agree that it's not a 'financial crime' by law... I just mean it's a detestable and almost 'criminal' campaign.

[NoOneNew]

Your argument is already questionable since you imagine a subred that makes retard/dick/cuck jokes has any SJWs in it.

I just find it amazing how so few people actually go on WSB, but have a garbage pail of opinions. Seriously, less then 5 min on WSB shows how incredibly wrong the media has been regarding that community or their motives. Mark Cuban, Kevin Oleary and a few others are backing what wsb are saying due to the exposure they generated of how manipulated the stock market is. This isnt, "this is the mob ruining the market". This is, "oh boo hoo did the wrong people manipulate the stock market and it hurt the hedge funds?"

There will be regulations on this. The trick is to regulate the market so the average schmuck can have a more level playing field instead of the cards stacked in the hedge funds favor.

[high_density]

I'm sorry, but you seems to be void of any refutation of my logic.

you iterated some famous people who are supportive of WSB, but... so what? Are they 'the wise ones of the stock market'? Are they financially supporting financial damage-takers?

They're just famous people, and that's all.

I agree that making a more level playing field is good. But that should be done by congress and law makers, not by burning gullible people's money.

[NoOneNew]

Except for the fact that lawmakers had zero reason to crack down on it. Only the wise and specially educated could comprehend how any of the market works. The poors are incapable of understanding charts and positions because it's so difficult. Only us in the ivory tower can keep the market stable and understand what companies actually deserve investment.

Part 2, again, you've never been on WSB for even 1 minute. At every part of this venture, everyone says this is a terrible profit venture. Everyone on wsb shows off their losses and calls it "loss porn". The only gullible folks are the ones listening to the media. Namely CNBC. Theyre the ones pushing the profit narrative, not wsb. This was more to screw over predatory short sellers and to help a few struggling companies people like. AMC for example, got to leverage their boost in stocks to have a fighting chance to survive through 2021. Effectively holding off bankruptcy for now. Gamestop is now able to position themselves to fight through the next few years.

[itronitron]

A lot of people want GameStop to succeed and join the ranks of Netflix and Amazon. Retail investors that bought a few shares now have a tremendous amount of goodwill and loyalty towards the company.

[high_density]

that's when you pour almost all of your savings...

And is 'loyalty towards a company' for having few shares a good thing? loyalty towards what ends? towards massive financial damage?

[itronitron]

Many people, or Americans at least, that don't have any savings are not going to experience 'massive financial damage' from buying a few GME shares and seeing them drop in value. It might sting for a bit, but so does getting a tattoo (which is a bigger waste of money.)

[slg]

It is extremely weird to define the people buying GME as SJWs.

[high_density]

well they might not be the SJWs, but the gullible ones fooled by SJWs.

the whole premise of the campaign is to 'fight against the injust hedge funds' (by burning your own money, that is)

[slg]

WSB was heavily pushing the "fight against the injust hedge funds" narrative and the way that community speaks is a pretty big indication that they don't normally align themselves with SJWs.

[high_density]

sorry I thought Social Justice Warrior is a term for 'people who rally to do good for the society but are just a bunch of fools'

[slg]

I guess that is how the term is defined by people who dislike them, but I think the core motivation is social progressivism and generally left leaning politics. SJWs are unlikely to favorably compare themselves to 4chan or use the n-word and r-word. I don't think the heart of WSB is particularly political, but it certainly gives off vibes that are closer to the alt-right than SJWs.

[high_density]

ok, I didn't know it's left or right term... wtf the word seems to be like 'feel-good-fool' but seems there's more to it

[TheHypnotist]

Not initially. The early adopters were touting business fundamentals for a very long time. The deal with microsoft, the impending release of PS5 and the new Xbox, all this started the ground swell.

Where this hedge fund idea came from, i'm not entirely sure. I think it was just a game when someone woke up and explained that this massive amount of shorting could not be covered if everyone bought shares. At some point that just spiraled into some altruistic hedge funds are evil marketing thing.

[nxc18]

Watching this whole saga from the sideline (no investments aside from 401k, which I don’t look at), it has been really disappointing to watch everyone acting like lemmings. These aren’t particularly difficult patterns to spot, but I guess people love running with a narrative. Maybe next time people can keep their pants on and maybe keep a level head?

[high_density]

on the side note, this makes an excellent youtube material...

there's a Korean investment channel that explains how people were gullible, and it's really funny to hear the fiascos...

...but not when I'm the gullible that is!

[elwell]

> this is a financial crime

How so? I may be ignorant, but isn't that just the way the stock market works. Sad, yes. Crime though?

[syrgian]

Pump and dump is fraud. https://en.wikipedia.org/wiki/Pump_and_dump But the effort was distributed and hard to track and prove, so the scammers that knew what they were doing are most likely safe.

[TheHypnotist]

Except there is a difference between a pump and dump and a short squeeze. No one is listening to the fundamentals, it doesn't matter.

I think you'd be hard pressed to make that argument on either side.

[high_density]

yes agreed. it's not crime by law... but it's like using uncovered parts of the law to swindle people.

Though it'll be really difficult to make a law preventing this without hurting beneficial actions.

[high_density]

well depends on the law though...

but this time, there's no 'fradulent' element, so I guess no.

If there were promises of earnings, it might have been.