Here’s what went down with Gamestop. You’ll love it.

A hedge fund called Melvin Capital ssid to short-sell GameStop stock. short-selling is gambling that a stock’s price will drop. If it does, you make money. If it doesn’t, you end up paying out money for however much it goes up.

Well, this ANGERED Wall Street Bets. WSB is a Group of poor people who treat the stock market like a casino. Thesy will regularly gamble their life-savings on a single trade. It’s a glorious thing to watch.

The WSB crew has a weird fascination with certain stocks. They call them “meme stocks.” Tesla is one, AMD is another, and GameStop, etc. So Melvin trying to short-sell their meme was a declaration of war.

Yes, this is dumb. But hilarious.

WSB decided to do a “short squeeze.” This is when you see people trying to short a stock, so you buy up that stock, and you get a bunch of other people to buy up that stock. With each purchase the price actually goes up. Since Melvin was trying to short the stock at a price of $20 per share, WSB wanted to get it up .

They got it up to $200 per share.

This means Melvin has to cover over $180 per share they bought. This came out to billions. BILLIONS.

Melvin Capital, over night, was suddenly facing bankruptcy. Think about that. A GANG on a website were able to tank a hedge fund. That’s hilarious.

Well, the rich and powerful don’t like seeing POOR People messing with one of their own. So Point72, another hedge fund, teamed up with others, and they injected THREE BILLION into Melvin Capital to keep them Afloat . This meant the billionaire hedge fund crew were banding together to fight back against Wall Street Bets. And WSB just said “okay, no problem.”

Today the stock for GameStop is at $320 per share.

Melvin Capital lost all of that three billion they were given. It’s gone. They’re still WRECKED. Point72 gave a little over a billion of that injection, and that means that fund dropped from 17 billion to 16 billion. That means in less than 24 hours WSB managed to Break one hedge fund and drop the value of another by 6% so far.

And remember, WSB are just a Bunch of poor people on the internet. They aren’t hedge fund guys, they aren’t millionaires or billionaires. This is literally being done A group of poor people with a phone app coordinating to ruin billionaires’ lives because they can.

What we’re watching here with GameStop stocks is a bunch of rich people who are getting wrecked, purely for entertainment, by the kind of poor people they treat like crap. This is “eat the rich” via phone app.

It’s beautiful.

And , the icing on the cake is that the app the WSB crew are using to pull this off is a stock- trading app called Robin Hood. Yeah, as in steal from the rich and all that jazz.

2021 going to be lit🔥