Reddit Trolls Beat the Stock Market, and the Elites Are Really, Really Mad

This is one of those stories that’s so good that you have to double check it’s not parody.

The talk of the stock market right now involves GameStop (among other stocks) and a group of Reddit users that decided to play Wall Street’s own game against them. If you don’t understand stock trades, it can be a bit in the weeds, but the general idea is simple. A bunch of hedge fund managers shorted stock trying to make money. In response, a group of Reddit users banded together to legally buy up those stocks and squeeze the short.

This has some hedge funds in dire financial straits because there’s insufficient money to borrow and keep the short afloat.

CNBC's David Faber said he is hearing a number of hedge funds are in similar trouble that Melvin Capital saw in its GameStop $GME and may need to be bailed out. pic.twitter.com/KAiADPUnOD

— Streetinsider.com (@Street_Insider) January 27, 2021

Excuse my laughter, but there will be no bail out. The market is a risk and these hedge funds lost their bet. That’s just how it goes.

Here’s a thread with a really concise explanation of what’s going on here. Click through and read it all for the play by play.

A bunch of individual investors on a Reddit forum, Wall Street Bets, thought they could work together and drive up the stock price. That would force the hedge funds to buy back their shares as their losses increased. So they used the hedge funds against themselves. 2/

— Don't tear down my statue (@kamster999) January 27, 2021

Glenn Greenwald also points out that the elites are really, really mad that the normies would dare play the stock market, and it’s absolutely hilarious.

This GameStop/Reddit/Melvin episode is one of the most amazing events in awhile. Read this great thread to understand the significance: https://t.co/XSf0YM1Izx

— Glenn Greenwald (@ggreenwald) January 27, 2021

What sends elites (and their media spokespeople) into the most intense spasms of indignation is when the plebes and the unlicensed start manipulating political and financial power centers with the tactics divinely assigned to their betters. It's the best:https://t.co/87bdoI6tmS

— Glenn Greenwald (@ggreenwald) January 27, 2021

When Wall St tycoons make huge bets that flop, they have the Federal Government they own and control come bail them out with taxpayer money.

When their short sell gamble goes bad, they demand the SEC step in & punish those who won and insist government power be used to stop it.

— Glenn Greenwald (@ggreenwald) January 27, 2021

Bingo. These Reddit users did nothing illegal. They simply played the same game hedge fund mangers play every day to make a lot of rich people even richer. Yet, the markets are now shutting down trades in order to protect the elite class. I’m not usually a class-warfare kind of guy, and I have nothing against people getting rich, but this is absolutely ridiculous to me. When you design and use a system to benefit yourself, don’t complain when it gets used against you.

They are going to manipulate things anyway, though.

Manipulation https://t.co/tURnk5OIOp

— Storm Paglia 🇺🇸 (@storm_paglia) January 27, 2021

*NASDAQ PRESIDENT ADENA FRIEDMAN SAYS WE MONITOR SOCIAL MEDIA CHATTER AND WILL HALT STOCK IF WE MATCH CHATTER WITH UNUSUAL ACTIVITY IN STOCKS – CNBC$GME $AMC $BB $NOK

— Investing.com (@Investingcom) January 27, 2021

Here’s a little more commentary on the matter, including the idea that it’s nazis doing this because it’s always nazis.

The best part is complaints about the "normies" also being able to game the system now. pic.twitter.com/6KPTRheW5h

— Lord BT (@back_ttys) January 27, 2021

pic.twitter.com/GciPJ24VcT

— Stephen L. Miller (@redsteeze) January 27, 2021

Let this be a reminder that you are lesser than your elitist betters. They get to manipulate the stock market and make money at will. But if you try it, the markets will shut you down and claim you are nazis.

Anyway, I’ll end this with some memes for your viewing pleasure.