So. GameStop. A company that was being shorted by the market, investors betting it was going to fail and in doing so making that possibility more and more likely. And a Reddit group that realised if they drove the price up they could a) make some money and b) screw over Wall Street. And once it worked with GameStop, it might work with others like AMC, Nokia, Blackberry, Blockbuster, Build-A-Bear, in a time of shutdown there was no shortage of investors betting against the success of a company. And once it started, many investors got out of short-selling entirely, for fear that their stock would be next to be targeted. So much so that stocks have been suspended on many companies, amidst fear that this could all be part of some other nefarious sources. And everyone going home to watch Trading Places again, skipping past the blackface. This isn't insider trading, however, it is outsider trading. And comic book creators, publishers, editors and retailers were happy to share their own observations – and investments.
Michael Davis: Dear Wall Street, Soooooooo- how's that shoe fitting now that it's on the other foot?
Justin Jordan: This Gamestop thing is exactly the sort of thing I've been anticipating happening. Using the system to f-ck with the system.
Fred C. Stresing: I panicked and just bought three boxes of used Wolf of Wall Street DVDs at opening today
Nicole Valdez: All I'm learning from the GameStop drama is that when rich people screw people over, it's a "free economy," but if regular people do…. oh no no no
Ian Face: Learning a lot about hedge funds today, holy sh-t thanks Reddit
Rik Worth: Instead of 'shorting', more people would understand and care about economics if we just said "bet against". Wall street bet against GameStop. Redditors bought stock, (which looks like success) and made wall street lose their bet. Meanwhile, no one actually did more business.
Gary Whitta: I just bought a bunch of GameStop while it's still relatively low this morning lol let's see where this rollercoaster goes.
Kevin Ketner: "How much can I get in store credit for my stocks?"
PJ Holden: Can you explain GameStop through the medium of mime?
Joe Glass: I still really don't understand stocks at all
Peter S Svensson: You pay money for a slip of paper that says "I'm a partial owner of Company. A" If Company A does well, that slip of paper is valuable. If Company A does poorly, that slip of paper isn't. People buy sell and trade those slips of paper, trying to get rich in the process. It's sort of like buying CGCed comics, based on guessing that the character in that comic is going to get a movie soon. If you were right, the CGCed comic can be eBayed for tons of money! If you were wrong, you paid for a slabbed comic of a character no one cares about.
Gary Whitta: For those interested, I'm in on GameStop, Blackberry, Nokia, AMC. Same principle as Vegas, don't gamble more than you're content to lose. I'm out if and when I make enough to buy a pair of AirPods Max with free money. Let's ride this coaster.
Matt Miner: Someone tell me how to turn my $0 into a lot of money using Reddit and stocks thx
Rich Douek: Thanks to all this GameStop/Reddit stuff, I think I finally understand the end of Trading Places. Thanks Internet!
Mike Pellerito: Anyone going to watch Trading Places tonight? Apparently it's a "how-to" movie #stonks #StockMarket
Gary Whitta: Oh sh-t I'm up on GameStop! Free headphones here I come! (I have no idea what I'm doing lol).
Ed Dukeshire: So now we're now at a point where you can only purchase certain stocks? Crazy. #StockMarket
Jeremy Blum: Gamestop uniting AOC, Ted Cruz and everyone else in this cold hearted country is almost enough to absolve them of their sins of gobbling up Funcoland, Babbage's and EB Games
Kevin Powers: It's only a free market until you beat the Wall Street bros at their own game. Then they re-rig it in their favor and have the retail brokers help them do it. The stock market is forever garbage.
Dave Olbrich: In this GAMESTOP battle of titantic a$$holes, I have not an ounce of sympathy for either side, but if I was forced to choose I certainly would pick Reddit over Wall Street every time. The game is rigged. And anytime the cretins responsible for putting in the fix get beat at their own game, I'm good.
Dennis Barger: Dear comic shops, is it too late to band together, sell shares of stock, convince scumbag hedge fund investors to sell us short and get saved by the Reddit geeks??? Fuq me, it's over when I agree with her.
When conservative retailer Dennis Barger is agreeing with AOC, truly, the world has changed. Go on, let's all watch that bit from Trading Places again.