So the minnows decided to take on the whales…
“Retail investors with the help of technology acting as a union in attacking is a new phenomenon,”
-Jim Paulsen, chief investment strategist at the Leuthold Group.
I woke up this morning to an interesting phenomenon.
The subreddit r/wallstreetbets was trending, specifically chat on the GameStop stonks.
The little guys have taken on the big guys and I sincerely feel that this is going to be a historic event. Something economy professors will teach about in the future.
You know I was going to bring it up. This is part of the #DataWars. Using public knowledge and channels of communication made possible by #NetNeutrality, an army of traders managed to create what’s known as a “short squeeze“
I would love to say that I know what I am talking about, but to be honest, I have pretty much Jar Jar Binksed my way through anything that has to do with stonks. I haven’t had any plan or discernible pattern as to what I buy or how long I plan on holding. It has usulally worked out because I don’t take big chances and I only use the money I would have spent on going out to eat that month. That way I reduce the anxiety that comes with trying to understand anything that’s happening…
However, there are others out there that have taken the time to understand and share knowledge online. I think the powers that be will say this was all by design, but I feel this is the only logical organic resolution possible. Either way, we are watching history being made.
I’m going to keep my eye on this for the next couple days. I suggest my friends do too.
Original forum where the party seems to have started.
Second forum started as traffic or censorship took down the original wsb subreddit
Discord for wsb