Stock Market Meme Culture
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Stock Market Meme Culture
I am sure now everyone heard how the meme culture is affecting stocks. GameStop stock soared and made people millionaires and turned one millionaire into a billionaire because of a meme. I was not one of them sadly. I did put a little money into dogecoin because the market is reacting to a comment by Elon Musk. Now some investors are calling for regulation and Robinhood is making lots of restrictions on it user for investing into specific stocks.
Public opinion has always affected stocks, rumors about businesses and its employees can make or break a stock. Even a funny commercial can have positive results in stock. The meme culture can be toxic and has an ugly evil cousin that plays god with peoples lives called cancel culture. I can see why some businesses are afraid of its influences on stock. But how is it different? Apps like Webull and Robinhood has brought stocks to everyone and obviously this will have a tremendous affect on the economy. So now that the "common" people can invest they are going to be limited? certain stocks will be prevented from growing because of the opinions of the elite and not due to natural influence like public opinion?
If they regulate anything, regulate misinformation; without limiting free speech, we need that on political and social levels as well. I am more than a little confused about what is going on, I am not an economist. To me it seems that the elite is resenting that "common" people can now invest freely. The economy is becoming more global and now anyone can invest. I suppose that would be scary, but change always is. I am having a little difficulty articulating my thoughts here. Economics hurts my head. But it just seems wrong that a broker or an exchange can move to block people from investing in something when it becomes hot for any reason.
here are some articles for reference. I am seriously confused and want to understand more.
https://www.msn.com/en-us/news/technolo ... r-BB1ddmhs
https://www.dailymail.co.uk/news/articl ... itter.html
And pretty much just peruse yahoo finance if you want
https://finance.yahoo.com/
Public opinion has always affected stocks, rumors about businesses and its employees can make or break a stock. Even a funny commercial can have positive results in stock. The meme culture can be toxic and has an ugly evil cousin that plays god with peoples lives called cancel culture. I can see why some businesses are afraid of its influences on stock. But how is it different? Apps like Webull and Robinhood has brought stocks to everyone and obviously this will have a tremendous affect on the economy. So now that the "common" people can invest they are going to be limited? certain stocks will be prevented from growing because of the opinions of the elite and not due to natural influence like public opinion?
If they regulate anything, regulate misinformation; without limiting free speech, we need that on political and social levels as well. I am more than a little confused about what is going on, I am not an economist. To me it seems that the elite is resenting that "common" people can now invest freely. The economy is becoming more global and now anyone can invest. I suppose that would be scary, but change always is. I am having a little difficulty articulating my thoughts here. Economics hurts my head. But it just seems wrong that a broker or an exchange can move to block people from investing in something when it becomes hot for any reason.
here are some articles for reference. I am seriously confused and want to understand more.
https://www.msn.com/en-us/news/technolo ... r-BB1ddmhs
https://www.dailymail.co.uk/news/articl ... itter.html
And pretty much just peruse yahoo finance if you want
https://finance.yahoo.com/
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- EGOSOFT
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Re: Stock Market Meme Culture
I've only seen the lighter side of this because it's more of a US thing. Being someone from Nottingham, this tickled me.
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Re: Stock Market Meme Culture
You've pretty much summed up what's been going on. The redditors took on the hedge funds and won, costing those assholes billions in their short sale of stocks. And then Robinhood(who is in bed with one of the hedge funds), Wells Fargo, and other stock apps halted trading on GameStop, AMC, and some others from the common folk and that really showed who is actually in control of money in this country. Meanwhile, the media played this like it's this super bad thing because people were losing money but they failed to mention it was the 1%ers losing their ass, and not the common folk that ended up making a fortune. They're tossing around terms like "market manipulation" as applied to the individual investors.
I'm a former GameStop employee. I've got no love for that company. It's a glorified pawn shop. But, this whole thing has been delicious. I love that these hedge fund jackasses lost huge. It's those **** that played a significant part in the 2008 housing market collapse and the feds turned around and bailed them out... but all the little people that lost their houses, who helped them? No one.
I'm a former GameStop employee. I've got no love for that company. It's a glorified pawn shop. But, this whole thing has been delicious. I love that these hedge fund jackasses lost huge. It's those **** that played a significant part in the 2008 housing market collapse and the feds turned around and bailed them out... but all the little people that lost their houses, who helped them? No one.
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Re: Stock Market Meme Culture
Everything is tilted towards anyone but the little guy, so I find it amusing that hedge funds have lost huge amounts shorting a stock. To me, shorting is just plain wrong. Invest or don't invest... don't "borrow" someone else's investment to speculate.
But if the company is failing, then all the people pouring cash in (unless it's people investing tiny amounts) will ultimately lose the money. I mean what's to stop the hedge funds shorting it when it's starting to go down? Unless business suddenly picks up massively it's not worth the share price at present is it.
But if the company is failing, then all the people pouring cash in (unless it's people investing tiny amounts) will ultimately lose the money. I mean what's to stop the hedge funds shorting it when it's starting to go down? Unless business suddenly picks up massively it's not worth the share price at present is it.
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Re: Stock Market Meme Culture
Only two things I learn from this:
- I don't have enough iron in my stomach to enter the stock market, like ever.
- Gamestop was only founded in 1996? Thought it had been around longer than that.
A tank museum in Finland started a GoFundme of sort to build shelter for their BT-42, and they saw quite a bit donation came from ... Japan. I don't know if you watched Girl und Panzer, but it's a fairly good (fun at least) anime that achieved cult status. In the movie there is segment feature the BT-42 that is forever enshrined among (video game) tank enthusiast, and that's how those donation flew in. And according to the article some tourists as well. You never know what will fall on your lap these days.
- I don't have enough iron in my stomach to enter the stock market, like ever.
- Gamestop was only founded in 1996? Thought it had been around longer than that.
I have seen stranger thing happened. Article is in Finnish so google translate if you need to, but to summarize:Xenon_Slayer wrote: ↑Fri, 29. Jan 21, 23:42I've only seen the lighter side of this because it's more of a US thing. Being someone from Nottingham, this tickled me.
A tank museum in Finland started a GoFundme of sort to build shelter for their BT-42, and they saw quite a bit donation came from ... Japan. I don't know if you watched Girl und Panzer, but it's a fairly good (fun at least) anime that achieved cult status. In the movie there is segment feature the BT-42 that is forever enshrined among (video game) tank enthusiast, and that's how those donation flew in. And according to the article some tourists as well. You never know what will fall on your lap these days.
Reading comprehension is hard.
Reading with prejudice makes comprehension harder.
Reading with prejudice makes comprehension harder.
Re: Stock Market Meme Culture
Agreed on all points, however, I would point out that GameStop now has enough operating funds to push them past the current dark ages when people can start roaming the streets again. Of course, they were in trouble in the before times. But they've been given a life line and we'll see what they do with it. If they were smart, they would invest more in their digital presence.Chips wrote: ↑Sat, 30. Jan 21, 00:15Everything is tilted towards anyone but the little guy, so I find it amusing that hedge funds have lost huge amounts shorting a stock. To me, shorting is just plain wrong. Invest or don't invest... don't "borrow" someone else's investment to speculate.
But if the company is failing, then all the people pouring cash in (unless it's people investing tiny amounts) will ultimately lose the money. I mean what's to stop the hedge funds shorting it when it's starting to go down? Unless business suddenly picks up massively it's not worth the share price at present is it.
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Fight white supremacy, fight corporate influence, fight for the rights of all peoples!
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- red assassin
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Re: Stock Market Meme Culture
My thoughts:
The people on Reddit who started this have an awful lot of money and knowledge of the stock market for "the common man".
A lot of the people following those people are going to lose money here. Sooner or later that stock price is going to come back down to something reasonable again, probably when that first group of people start selling. And they're gonna make a lot of money, partly at the expense of hedge funds, but also largely at the expense of the second group of people here. And any hedge funds that rode out the bubble, or that established a short position once the stock was inflated, will ultimately end up making money.
With that said, screw the hedge funds, and I have zero sympathy for the ones that were forced to close out their short positions and take losses by all this.
The people on Reddit who started this have an awful lot of money and knowledge of the stock market for "the common man".
A lot of the people following those people are going to lose money here. Sooner or later that stock price is going to come back down to something reasonable again, probably when that first group of people start selling. And they're gonna make a lot of money, partly at the expense of hedge funds, but also largely at the expense of the second group of people here. And any hedge funds that rode out the bubble, or that established a short position once the stock was inflated, will ultimately end up making money.
With that said, screw the hedge funds, and I have zero sympathy for the ones that were forced to close out their short positions and take losses by all this.
A still more glorious dawn awaits, not a sunrise, but a galaxy rise, a morning filled with 400 billion suns - the rising of the Milky Way
Re: Stock Market Meme Culture
Everything that **** over a hedge fund (at least the big ones) is good. Hedge funds are the plague at the centre of a rotten finance system that only benefits those that are allready rich. The same people that try to tell you that the market is free and that if you as a poor person want to be rich you should just invest.
Guess what, people did invest and what did they do?
1. They made it harder to buy the stock people wanted to buy, probably illegally.
3. They removed interviews that did not work out like they intended or at the very least put them behind a paywall. This one would be a good example.
4. They openly display their hatred for those that don't follow their playbook. I mean just listen to this condescending shit. Adult supervision? The audacity of this guy. And suddenly they call for regulation? Give me a break.
5. They act as if naked short trading shouldn't be a risky buisness. If you short trade you take a BIG risk. That is something everyone should understand. The only thing that is different this time around is that it is the retail market (aka not only rich people) ****** them over and that is what they hate. Because for once the less fortunate have found a way to hurt them.
6. They shorted this stock, the GME stock, over 100%. Just to make this clear here: They borrowed a stock from stock Holder A and sold it to stock Holder B. Before returning the stock they borrowed from Holder A, they borrowed the stock they sold to Holder B ealier on. They then sold this borrowed stock to stock Holder C. They now owe both Stock Holder A and B a stock. They managed to do this so that GME's stock was shorted 140%.
To explain this differently: I think apples are going to go down in price. So I go to Incubi and borrow and apple from him. I then sell said apple at 1$ to Xenon_Slayer. Still thinking that the price of apples will go down I borrow said apple again from Xenon_Slayer and sell it to Chips at 0.95$. I made money from selling two apples, none of which belongs to me. I now have 1.95$ and need to get an apple for both Xenon_Slayer and Incubi. Ladiduladida Vertigo 7 took notice of what I was doing and bought all the apples. Mightysword worried that apples will soon be sold out also buys apples. Red Assassin does as well but with the hopes of selling me the apple at a profit. The cheapest apple I can find now costs 10$.....but i only have 1.95$ and I need two of them. Xenon_Slayer and Chips get angry at me because they want their apples back NOW and if I don't give them their apples I am in trouble. I can't give them their apples though. That is what happened to the hedge funds here. How to avoid this? Don't sell stuff you do not own in hopes to being able to buy this stuff back at a lower cost somewhere down the road.
The thing that they fail to see is that this has long gone past the point of being about winning. Not everyone is in this to gain money.
To many people the questions is rather, "If I invest X amount of money and it might hurt hedge fund Z, Y and P for X amount of money is that money worth investing?" I have spend quite some time talking to people about this and many people I spoke to who had invested money in GME said the same thing. They see the money as lost the moment they put it in, but they put it in there not with hopes of winning but with the hope of getting the hedge funds to expose what they see as a fundamental principle of our current economic system: The market is not fair and it is also not free.
EDITS: SO MANY EDITS.
Guess what, people did invest and what did they do?
1. They made it harder to buy the stock people wanted to buy, probably illegally.
2. They cried out on TV using any possible outlet to smear poor people. To quote billionaire Leaon Cooperman:Taxes attorney general Ken Paxton wrote:This apparent coordination between hedge funds, trading platforms, and web servers to shut down threats to their market dominance is shockingly unprecedented and wrong.
https://tuckbot.tv/#/watch/l7h4v6Leaon Cooperman wrote:The reason the market is doing what it is doing is people are sitting at home getting their cheques from the government [referring to the 600$ stimulus check in the US], ok and this fair share is a bull**** concept it is just a way of attacking wealthy people and I think it is inappropriate and we all got to work together and pull it together.
3. They removed interviews that did not work out like they intended or at the very least put them behind a paywall. This one would be a good example.
4. They openly display their hatred for those that don't follow their playbook. I mean just listen to this condescending shit. Adult supervision? The audacity of this guy. And suddenly they call for regulation? Give me a break.
5. They act as if naked short trading shouldn't be a risky buisness. If you short trade you take a BIG risk. That is something everyone should understand. The only thing that is different this time around is that it is the retail market (aka not only rich people) ****** them over and that is what they hate. Because for once the less fortunate have found a way to hurt them.
6. They shorted this stock, the GME stock, over 100%. Just to make this clear here: They borrowed a stock from stock Holder A and sold it to stock Holder B. Before returning the stock they borrowed from Holder A, they borrowed the stock they sold to Holder B ealier on. They then sold this borrowed stock to stock Holder C. They now owe both Stock Holder A and B a stock. They managed to do this so that GME's stock was shorted 140%.
To explain this differently: I think apples are going to go down in price. So I go to Incubi and borrow and apple from him. I then sell said apple at 1$ to Xenon_Slayer. Still thinking that the price of apples will go down I borrow said apple again from Xenon_Slayer and sell it to Chips at 0.95$. I made money from selling two apples, none of which belongs to me. I now have 1.95$ and need to get an apple for both Xenon_Slayer and Incubi. Ladiduladida Vertigo 7 took notice of what I was doing and bought all the apples. Mightysword worried that apples will soon be sold out also buys apples. Red Assassin does as well but with the hopes of selling me the apple at a profit. The cheapest apple I can find now costs 10$.....but i only have 1.95$ and I need two of them. Xenon_Slayer and Chips get angry at me because they want their apples back NOW and if I don't give them their apples I am in trouble. I can't give them their apples though. That is what happened to the hedge funds here. How to avoid this? Don't sell stuff you do not own in hopes to being able to buy this stuff back at a lower cost somewhere down the road.
The thing that they fail to see is that this has long gone past the point of being about winning. Not everyone is in this to gain money.
To many people the questions is rather, "If I invest X amount of money and it might hurt hedge fund Z, Y and P for X amount of money is that money worth investing?" I have spend quite some time talking to people about this and many people I spoke to who had invested money in GME said the same thing. They see the money as lost the moment they put it in, but they put it in there not with hopes of winning but with the hope of getting the hedge funds to expose what they see as a fundamental principle of our current economic system: The market is not fair and it is also not free.
EDITS: SO MANY EDITS.
Point me to the users that started this. If you mean the subreddit over all, well it has multiple million users. Not all of them are common man, but many share their knowledge quite openly. Are there people on reddit who helped push this to make money? 1000% yes. Certainly that is the main drive for many people. However none of this would have been possible if hedge funds had not shorted the GME stock 140%. That is akin to a kickboxer entering the ring with both hands tied behind his back in order to land a knockout with a flashy kick to win a fight of the night bonus. Sure, that could work, but it is still a horriable idea.red assassin wrote: ↑Sat, 30. Jan 21, 11:45My thoughts:
The people on Reddit who started this have an awful lot of money and knowledge of the stock market for "the common man".[...]
"The problem with gender is that it prescribes how we should be rather than recognizing how we are. Imagine how much happier we would be, how much freer to be our true individual selves, if we didn't have the weight of gender expectations." - Chimamanda Ngozi Adichie
- notaterran
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Re: Stock Market Meme Culture
If nothing else, this shows that there's no such thing as a free market. Only those with connections/capital get to manipulate the market. We need more situations like this to expose the "free market" for what it is. As for Wall Street degenerates losing money? **** them.
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Re: Stock Market Meme Culture
I want to short stocks in X3AP, is this possible? or is this too exploity?
Re: Stock Market Meme Culture
What I learned from all of this: If humans would be able to utilize their "swarm intelligence" in an effective and productive way ... this may lead to huge leaps in tech and everything we cannot even imagine.
But, thanks to whoever, humans are too stupid to use their capabilities. Einstein once realized that aswell and gave up.
I love that smiley!
But, thanks to whoever, humans are too stupid to use their capabilities. Einstein once realized that aswell and gave up.
I love that smiley!
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Re: Stock Market Meme Culture
An now for the without a doubt wierdest take on this entire story straight via MSNBC:
People who trade GameStop and AMC stocks will start cutting themselves, because, like all these young woman who spend their time on instagram, they use their time to trade instead of doing sports or persuing romantic relationships at their workplace and will end up depressed. Can't make this up. Probably a good time to mention that I have no money in this race at all, but the reaction by the established market players is just to funny and at times strange.
People who trade GameStop and AMC stocks will start cutting themselves, because, like all these young woman who spend their time on instagram, they use their time to trade instead of doing sports or persuing romantic relationships at their workplace and will end up depressed. Can't make this up. Probably a good time to mention that I have no money in this race at all, but the reaction by the established market players is just to funny and at times strange.
"The problem with gender is that it prescribes how we should be rather than recognizing how we are. Imagine how much happier we would be, how much freer to be our true individual selves, if we didn't have the weight of gender expectations." - Chimamanda Ngozi Adichie
Re: Stock Market Meme Culture
What changes, if any do you think this will cause for the economy?
edit: removed a simile that was reaching to hard heh.
edit: removed a simile that was reaching to hard heh.
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Re: Stock Market Meme Culture
Someone is already asking for "limitations" on short trading. I suppose hedge funds don't like normal people do what they did for decades, which is actually a bet on bankruptcies. That's always been a self-fulfilling prophecy, because if you work so hard to lower the value of a company, no matter how healthy it is, the company is going to be destroyed.
Re: Stock Market Meme Culture
A comic strip, although it does focus on the reaction of the hedge funds and does not show the sinister intent of the "little people".
Re: Stock Market Meme Culture
In an ideal world? More regulation against extreme short selling would be put into place.
In this world? Access to the market will be restricted for the retail market making participation of non affluent people a lot harder.
"The problem with gender is that it prescribes how we should be rather than recognizing how we are. Imagine how much happier we would be, how much freer to be our true individual selves, if we didn't have the weight of gender expectations." - Chimamanda Ngozi Adichie
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Re: Stock Market Meme Culture
I don't understand the antipathy directed towards short selling. Please can somebody explain?
As for retail access to the markets, it's never been more accessible or cheaper.
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Re: Stock Market Meme Culture
well, the mechanics of short selling is that someone borrows stocks from someone else with the promise to return them back to whomever they borrowed them from. So they sell the stocks at a high value at that time and wait for the stock values to drop and buy the original amount back and turn those back over to the person that originally had the stocks. It's essentially a bet that the stock values will fall. I don't know if there's a time limit obligation involved for the short seller to return the stocks to the original holder or not. I would be surprised if there isn't one.RegisterMe wrote: ↑Mon, 8. Feb 21, 00:13I don't understand the antipathy directed towards short selling. Please can somebody explain?
As for retail access to the markets, it's never been more accessible or cheaper.
The short sellers usually operate as a hedge fund. These hedge fund groups make massive amounts of money at the expense of businesses or markets in a some of cases. The 2008 housing market collapse, for example, was largely caused by hedge funds. That's a huge over simplification, but it always boils down to Wall Street vs Main Street, and Wall Street usually wins.
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Re: Stock Market Meme Culture
You make money from other's misery.RegisterMe wrote: ↑Mon, 8. Feb 21, 00:13I don't understand the antipathy directed towards short selling. Please can somebody explain?
* Somebody loans their stock to you. When they get it back, its value has decreased.
* Whomever you sell your stocks to will make a bad investment, because the value is predicted to decrease.
* The company whose stocks are traded is not doing well, if stock value decreases?
* When you buy the cheap stock (to return the loan), do the sellers make profit or are they just cutting their losses?
* You are most likely not a person, but "faceless, greedy, scheming, filthy wealthy" hedge fund that takes and never gives back.
Re: Stock Market Meme Culture
The biggest issue with short selling is that it appears to be possible to actually sell more stock in the company than actually exists, making it impossible to ever buy enough back to meet your obligations--that's what happened to the main hedge fund involved here, AFAIK.