Hi Higherside-chatters,
I hope by now you've all heard about the GME gamestop stock and I wanted to mention that this story is NOT OVER and is in fact only getting more interesting.
For those of you who don't know, the stock went from a low of $3.77 in 2020 to a high of over $500 in January 2021. The House Financial Services Committee held 3 virtual Congressional hearings about this stock. Lawsuits have been thrown around left and right, primarily against retail brokerages like Robinhood that disabled the buy button for GME in January. Big names like Michael Burry (the big short 2008) called the play years ago.
Why so much drama?
Short selling, and primarily illegal short selling. Short selling is when you borrow a share, sell it, then repurchase and return the share once the price falls. Short enough shares, and it becomes a self-fulfilling prophecy. But why bother borrowing the share and paying a small percentage for the privilege when you are too big to fail and can "accidentally" sell shares that you never borrowed?
The so-called "short-squeeze" never happened in January, it was just barely kicked down the road by blatantly illegal manipulation like preventing retail traders from buying more shares and naked short selling MILLIONS of non-existent shares. The price has steadily been creeping back up and has been shorted down again over and over, but this is not sustainable and will eventually explode in such a spectacular manner that it may end the entire financial system as we know it and usher in the Great Reset.
Gamestop is not going to be THE reason for this financial collapse, it will just be the catalyst.
If you are interested in reading more please visit this subreddit (superstonk) and be warned that it is crawling with bots and shills. Take all advice with a heap of salt. Many people have woken up to the blatant media corruption and lies by seeing how suppressed this information is and how much disinfo is posted. It is really beautiful and may very well be the untelevised revolution that you have been waiting for.
And not to try and make a theory of everything, but this also ties into why so many big and powerful names have been getting divorced lately. They may well be trying to hide assets before the stock market implodes.
[MEDIA=reddit]Superstonk/comments/njwv6n
*note, you'll need to be able to decipher meme language and occasionally dense financial speak. It is a unique blend of "smooth" and "wrinkly" brains as we Apeslike to say.
