Memers and Gamers Unite to Make Finanical History with GameStop

GameStop is the latest talk of the town. For those who don't know, GameStop is a video game retailer who like many other businesses during the pandemic was suffering from massive losses. Unlike many other businesses however GameStop became part of a coordinated effort by the Wall Street moguls to be destroyed. The method they were using to destroy this video game retailer is called short selling and as the name implies it was under handed. What these hedge funds and Wall Street stockbrokers did not take into consideration was the gamers and memers.

The thing about gamers and memers is that you don't want to irritate them. What Wall Street brokers wanted was to drive GameStop in a corner to the point that this video game retailer didn't exist. The only thing that stopped this massive effort was quite literally a sub reddit. R/Wallstreetbets is a sub reddit where people who engage or are interested in the stock market make memes. Yes, just memes. Not what you might have heard from most outlets but that's the extent of it. Now the thing about memers and gamers is that they notice things that most people don't. It just the nature of things to notice something so obviously wrong happening in the system. So they did notice GameStop.

Who would have thought that a bunch of memers would notice the most massively over shorted stocks of GameStop? In their defense, Wall Street is probably not intelligent enough to recognize that you don't just mess with people who think 4Chan is boring. Now these Redditors had a choice to make. They could just ignore what's going on with GameStop and continue making memes, or they could just go whole crash and burn with Wall Street itself. They choose crash and burn. If you're wondering what made these Redditors so mad at Wall Street then you're looking at it the wrong way. Memers are what reduced Shia LaBeouf's "He will not divide us" campaign to rubble because they could. There is no rhyme or reason to why gamers and memers do things. If it feels like fun then it probably is fun until they get bored and move on. That is why it's called crash and burn. They will come without any announcement and leave with the entire world in awe of them.

So the memers at R/Wallstreetbets decided that they could short squeez the stocks of GameStop. It basically means that you artificially force the price of stocks to rise forcing the hedge funds with borrowed shares of the company to buy them back. This causes a chain reaction of sorts that keeps driving the price further. So for months these Redditors kept doing that catapulting the price of shares and GameStop to their credit also reciprocated with positive reactions. This right here was the beginning of history being made again by memes.

The price of stocks kept rising to the point that the hedge funds couldn't even buy stocks without spending billions. Yes, the people who decide what happens in the Global market sitting in the financial capital of the world were being bled dry by people who think Mountain Dew Red can help them win a game. Needless to say there were many one-sided casualties. This was war. A war between an average retail investor who is looked down upon against the Wall Street itself. Why? Because they could. In a world where people have to protest in order to get some sort of monetary assistance from their Government, Wall Street was getting bail outs. So why not bleed them dry.

A lot has transpired and will transpire in this story but one thing that has been established yet again is that gamers and memers are not what they are represented to be. They can and will change the course of financial history if they have to. Ask yourself this, why does GameStop mattered in the first place to them. It's not like GameStop is better or worse than many other video game retailers. On the contrary actually. Their business practices were way too outdated, but it was the principle involved. Too many times gamers have seen Wall Street and finance people run rough shot over them. So why not make them see how we play when we find a target in our crosshair.

(The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of PCQuest)