Here’s a brief explanation: after many years of steady decline, GameStop was not doing well and their stock was extremely low. Then, they hired some new board members and the stock went up a bit. Hedge funds observing the phenomenon decided to “short” GameStop stocks to make a lot of money when it failed. Then the /r/Wallstreetbets subreddit caught wind of their scheme and started buying GameStop stocks like crazy, hugely inflating the price of the stock so some hedge funds lost all their money.
The entire world’s economy is a bubble. Don’t look down.
Love most of ’em — especially the guy done up as “Reginald Esquire.”
🎶 We did it before and we can do it again…🎵
Diamond Hands!
Got my silver coins stacked and ready.