For me, this is the best thing to happen this year so far. The article is severely underselling what is happening here.

It's not just that Gamestop stock was "heavily shorted." Wallstreet hedge funds were actively trying to tank the stock (i.e. market manipulation) by repeatedly shorting it long past where it was sensible.

Wallstreetbets noticed that the stock was shorted beyond reason and counter-manipulated the price back up. Now Wallstreet is all butt-hurt that they got beat at their own game. Somehow, when they make crazy bets its "institutional" but when normal people do it it's "reckless speculation."

This kind of Wallstreet behavior is exactly how the financial crisis of 2008 happened, but in this case it's actually normal people that are taking Wallstreet to the cleaners. It's a rare case of justice in this world.

I've been slightly watching this unfold over at Reddit.

It is a great "out in the light" example of why I don't fuck with the stock market.

I hope Melvin and Citron go tits up and hedge fund fuckers in general die slow deaths.

Allegedly Melvin was down 13.1 BILLION dollars yesterday. Fuck 'em.

wall street bubble? 🤯

The folks at WallStreetBets tend to be some reactionary assholes, but I gotta admit this has been pretty funny.

Twitter shadow-banned their Twitter account yesterday.

That doesn't surprise me in the slightest. I'm sure the irony that twitter has been manipulating trends for quite some time, which we know has consequences for the stock market, is totally lost on them.

https://www.youtube.com/watch?v=2h7jfNpL4QA&feature=youtu.be&ab_channel=vonsek

This is a pretty interesting interview on the situation.

AOC:

Gotta admit it’s really something to see Wall Streeters with a long history of treating our economy as a casino complain about a message board of posters also treating the market as a casino

https://twitter.com/AOC/status/1354536220110577664

The apps WSB peeps are using are now refusing them access to buying shares of certain stocks. They're only allowed to close out their positions. New updates will simply replace stock symbol searches with a questionnaire asking if you're poor before allowing you further access to the market.

Real interesting to see media suddenly pushing the idea that WSB is pumping silver, when it's clear that the hedgies are trying to pump silver because they're holding a LOT of it and a silver spike price would help pay for what they lost here.

Reddit's WSB is all about stocks - commodities get laughed at there; it's definitely not them colluding.

Can I interest you in a post on Manufacturing Consent on this fine day?