You might have been reading a lot about video game retailer GameStop in the news and on social media recently. And now, even the White House is monitoring the situation. What’s going on right now is the financial-world equivalent of the battle between David and Goliath… or rather between small investors and Wall Street. And it’s a story for the economics books, ladies and gentlemen, no matter who the winner turns out to be in the end.
In short, small investors, who are mostly based in the r/wallstreetbets subreddit, are massively investing into GameStop because they believe in it as a company, causing its price to surge upwards. Meanwhile, Wall Street was betting on GameStop failing as a company and its stock prices to stay low. Now, Wall Street hedgefunds that were shorting stocks are hemorrhaging money. Some small investors have already ended up millionaires because of this. For instance, Bloomberg reports that “one trader turned $53,566 into more than $11 million.”
Bored Panda has collected some of the best memes about and reactions to GameStop stonks battle between Reddit and Wall Street, so scroll on down, give your fave pics a big ol’ upvote, and let us know what you think about the entire situation in the comment section below. And be sure to read our in-depth interview with a banking expert and independent investor about what’s going on with GameStop.
But before we begin, a big, chunky note of warning for all of you: never, ever trust any random bits of advice about investment opportunities that you read online without turning on your critical thinking and evaluating your current financial situation. Sure, the stock price might be rising now, but you never know when it’ll fall (and any expert who tells you that they know how the market will change for sure is selling you snake oil, whether they’re from Wall Street or from Reddit). If you do decide to invest, do so at your own risk, and don’t gamble away your future just because you’re hyped to become a millionaire—just like everyone else is. And not everyone can be a winner when it comes to stocks.
A one-word tweet from Elon Musk caused a further massive GameStop stock price surge
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