- Joined
- Apr 15, 2014
The Wall Street Bets Gamestop Saga is one of the few events that has managed to unite the internet, because fuck Wall Street.
The problem is that information on it is scattered, which gives Wall Street and its cronies a chance to spin a narrative about this: That this was the work of evil incel haxxors trying to take down innocent hedge fund managers.
That's what I want to counter. I want to make a document that summarizes the events of the Gamestonk War accurately, succinctly, and most importantly, in a normie friendly way.
The goal of this is to:
-Create an easily sharable document that can be spread around social media.
-It should be something your parents will understand.
-It should be as well sourced as possible. Everything should be archived, and from as reputable a site as possible. If your citations are all from JewsRunTheGovernment1488.com, nobody is going to read them.
Once the document is created, your job is to SPREAD IT AROUND LIKE WILDFIRE. Get as many copies as you can on various sharing platforms. REDUNDENCY IS KEY. If it goes down on one site, it will come back up on two more.
WHAT YOU CAN DO:
Get sources: With an event like this, it's hard to compile information. You need to get to work archiving as much stuff as possible and linking it in here.
Writing: I'm putting up an outline of the document. If you feel like writing a section, please do.
OUTLINE:
THE PLAYERS: (brief explanations of the people and firms involved. Wall Street Bets, Robin Hood, Melvin Capitol, ect)
WHAT IS SHORTSELLING: (explaining what short selling is, and why Melvin fucked up)
TIMELINE: (A recap of the events.)
REACTION: (Responses from the media, fake news stories, and government response)
WHAT IS SHORTSELLING?
Shortselling is a complex bit of financial wizardry that I will do my best to sum up.
A shortseller will make an agreement with someone who holds stock in a company to borrow that stock for a while, with the requirement to give it back after a period of time.
Once the shortseller has borrowed the stock, they sell the stock off.
The reason they do this is because they expect that the stock will go down.
In a successful short sell, the stock price goes down, the shortseller buys it back at the cheaper price, and returns it. In doing this, they make a profit.
The major problem with shortselling, especially with major hedgefunds, is that by selling off such massive amounts of stock (that they don't actually own) they can drive the price of the stock down. This ends up gutting the company they shorted.
All so they can make even more money.
This is what Melvin Capitol was attempting to do with Gamestop. Betting that Gamestop would go bankrupt, they borrowed and sold a massive amount of Gamestop stock. In fact, they sold more shares than are actually traded, which may be a sign of naked shorting (shorting stocks you don't even have, which is illegal).
However, Melvin Capitol had made one critical error. They hadn't considered that the stock price might go up.
See, if the price of the shorted stock goes UP, the shorter still has to buy it back to give it to the original owner.
You can see where this is going.
The problem is that information on it is scattered, which gives Wall Street and its cronies a chance to spin a narrative about this: That this was the work of evil incel haxxors trying to take down innocent hedge fund managers.
That's what I want to counter. I want to make a document that summarizes the events of the Gamestonk War accurately, succinctly, and most importantly, in a normie friendly way.
The goal of this is to:
-Create an easily sharable document that can be spread around social media.
-It should be something your parents will understand.
-It should be as well sourced as possible. Everything should be archived, and from as reputable a site as possible. If your citations are all from JewsRunTheGovernment1488.com, nobody is going to read them.
Once the document is created, your job is to SPREAD IT AROUND LIKE WILDFIRE. Get as many copies as you can on various sharing platforms. REDUNDENCY IS KEY. If it goes down on one site, it will come back up on two more.
WHAT YOU CAN DO:
Get sources: With an event like this, it's hard to compile information. You need to get to work archiving as much stuff as possible and linking it in here.
Writing: I'm putting up an outline of the document. If you feel like writing a section, please do.
OUTLINE:
THE PLAYERS: (brief explanations of the people and firms involved. Wall Street Bets, Robin Hood, Melvin Capitol, ect)
WHAT IS SHORTSELLING: (explaining what short selling is, and why Melvin fucked up)
TIMELINE: (A recap of the events.)
REACTION: (Responses from the media, fake news stories, and government response)
WHAT IS SHORTSELLING?
Shortselling is a complex bit of financial wizardry that I will do my best to sum up.
A shortseller will make an agreement with someone who holds stock in a company to borrow that stock for a while, with the requirement to give it back after a period of time.
Once the shortseller has borrowed the stock, they sell the stock off.
The reason they do this is because they expect that the stock will go down.
In a successful short sell, the stock price goes down, the shortseller buys it back at the cheaper price, and returns it. In doing this, they make a profit.
The major problem with shortselling, especially with major hedgefunds, is that by selling off such massive amounts of stock (that they don't actually own) they can drive the price of the stock down. This ends up gutting the company they shorted.
All so they can make even more money.
This is what Melvin Capitol was attempting to do with Gamestop. Betting that Gamestop would go bankrupt, they borrowed and sold a massive amount of Gamestop stock. In fact, they sold more shares than are actually traded, which may be a sign of naked shorting (shorting stocks you don't even have, which is illegal).
However, Melvin Capitol had made one critical error. They hadn't considered that the stock price might go up.
See, if the price of the shorted stock goes UP, the shorter still has to buy it back to give it to the original owner.
You can see where this is going.
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