CNN Declares that the Gamestop stock surge is Trump's fault

[GastonGlock]

There's TDS, and then there's this

"At the core of Donald Trump's angry populist appeal was -- and is -- this sentiment: The elites think they know better than you. They think they can tell you how to live and what to believe. But guess what? We the people are smarter than the elites!"

"What made Trump's argument so potent, politically speaking, is that he wasn't just calling out the elites. He was saying that Average Joes needed to rise up and actually show them how wrong they were -- that voting him for him was the best way to express their anger and frustration with the condescension of their alleged bettors. Donald Trump offered himself up as a collective middle finger to the elites. And he won."

"Except that this time, amateur investors decided to revolt against the pros. Using Reddit -- and a subreddit known as r/wallstreetbets -- the amateurs began a coordinated effort of buying GameStop stock to drive its price higher and higher. (It's worth noting that Reddit was also a gathering spot for some of the most ardent Trump supporters in 2016.)
That effort to screw the pros -- people with a short position on a stock that is surging have major vulnerabilities the higher the stock goes -- got an unexpected boost from none other than iconoclast-in-chief and Tesla founder Elon Musk, who tweeted "Gamestonk!" with a link to the "wallstreetbets" subreddit on Tuesday.

And there's no question that the populist revolt has worked for GameStop stock. On December 28, it was trading at $20.99 a share. On Wednesday, it was a shade under $335 a share."

"The point is that there is no real point beyond showing up the pros -- proving to them that they aren't as smart as they think they are and that they don't have the ability to control everything.
Which, again, has its roots in Trumpism. The entire notion of Trump's candidacy and presidency was to stick it to the elites. And then, well, uh, there wasn't really a plan beyond that. The screwjob was the point. (Montreal screwjob reference!)
That strategy -- if that is even a word that can be associated with what this is -- has massive limits. Sticking it to the man will only get you so far. It's not a solution to any problem. It's just a way to express frustration, anger and a feeling of helplessness."

Apparently Chris Cillizza believes we need to respect our betters and lick the boot.

[matchingmole]

[Tiny]

Originally Posted by GastonGlock

There's TDS, and then there's this

"At the core of Donald Trump's angry populist appeal was -- and is -- this sentiment: The elites think they know better than you. They think they can tell you how to live and what to believe. But guess what? We the people are smarter than the elites!"

"What made Trump's argument so potent, politically speaking, is that he wasn't just calling out the elites. He was saying that Average Joes needed to rise up and actually show them how wrong they were -- that voting him for him was the best way to express their anger and frustration with the condescension of their alleged bettors. Donald Trump offered himself up as a collective middle finger to the elites. And he won."

"Except that this time, amateur investors decided to revolt against the pros. Using Reddit -- and a subreddit known as r/wallstreetbets -- the amateurs began a coordinated effort of buying GameStop stock to drive its price higher and higher. (It's worth noting that Reddit was also a gathering spot for some of the most ardent Trump supporters in 2016.)
That effort to screw the pros -- people with a short position on a stock that is surging have major vulnerabilities the higher the stock goes -- got an unexpected boost from none other than iconoclast-in-chief and Tesla founder Elon Musk, who tweeted "Gamestonk!" with a link to the "wallstreetbets" subreddit on Tuesday.

And there's no question that the populist revolt has worked for GameStop stock. On December 28, it was trading at $20.99 a share. On Wednesday, it was a shade under $335 a share."

"The point is that there is no real point beyond showing up the pros -- proving to them that they aren't as smart as they think they are and that they don't have the ability to control everything.
Which, again, has its roots in Trumpism. The entire notion of Trump's candidacy and presidency was to stick it to the elites. And then, well, uh, there wasn't really a plan beyond that. The screwjob was the point. (Montreal screwjob reference!)
That strategy -- if that is even a word that can be associated with what this is -- has massive limits. Sticking it to the man will only get you so far. It's not a solution to any problem. It's just a way to express frustration, anger and a feeling of helplessness."

Apparently Chris Cillizza believes we need to respect our betters and lick the boot.

Cillizza is completely full of shit. I'd wager 80% of the participants in the Wall Street Bets forum on Reddit, who have been shilling for GameStop, are millenial Democrats.

Chamath Palihapitya has been egging on the Redditors. He was on CNBC talking nonstop for about 45 minutes today, about the evil people on Wall Street, and how it's great that Millenials now have the power to rise up, destroy the Wall Street robber barons, and pay off their student debt and the like. What he fails to note is that the Millenials driving this will be hurt badly by this whenever the game of musical chairs stops. Game Stop is trading at around 340 and the brokerage company analysts, normally a very optimistic lot, have a consensus price target of 13!

Why do I bring this up? Chamath is not only a conman, who's hurt a lot of ordinary investors through the SPAC's he's brought to market, but he's also a Democrat who has ambitions to become the next governor of California. He's donated a lot to Democratic politicians. This is the guy who's contributing hugely to this problem, not Donald Trump. And this is typical of a number of the Democratic Party elite. They have their own cons going, be it plaintiff's lawyers who profit from legislation passed by Democrats, or the tycoons who profit from loopholes in a complicated tax and regulatory systems.

[1blackman1]

I think it’s quite funny. Screw the short sellers. This has nothing to with Trump so that’s silliness on the part of Cillissa. But it is kinda funny. Sadly the money folks will still eventually win. Not sure they can prop up GameStop long enough to outlast the shorts.

[Ripmany]

Originally Posted by 1blackman1

I think it’s quite funny. Screw the short sellers. This has nothing to with Trump so that’s silliness on the part of Cillissa. But it is kinda funny. Sadly the money folks will still eventually win. Not sure they can prop up GameStop long enough to outlast the shorts.

Short selling is risking many will get margan call that game stop earnings.

[GastonGlock]

TBH I'd like to see Gamestop crash & burn, I think they're a predatory business. Same with AMC. But watching this has been hilarious.

[oeb11]

Interesting that XiNn now sides with the big Wall St hedge firms - trying to short sell - and the little investors - linked by their own media - are beating them adn costing them millions of $!!


How the LSM turns - depending on whose ox is gored
Perhaps the big tech firms are complaining that their investments are being thwarted???



the One LSM/DPST/ccp Constant -



Hate Trump

blame Trump
Impeach Trump
Try Trump
The DPST/ccp Hatred adn TDS never ends.



They have no idea how ridiculous their Impeachment Hatred, and nazi pelosi and commie schumer appear to teh World (except for their master - comrade Xi)

[Lucas McCain]

Kids are mostly at home now. Kids love video games. Kids have more free time so they play video games more. There is nothing shocking here about those facts. It has little to do about Trump and more to do about how they can't go to school so they waste time playing stupid ass video games as kids do. Of course the stock price was going to jump. Kids get bored with games and they want new games to play which generates revenue. It's that simple.

[Jackie S]

Originally Posted by Lucas McCain

Kids are mostly at home now. Kids love video games. Kids have more free time so they play video games more. There is nothing shocking here about those facts. It has little to do about Trump and more to do about how they can't go to school so they waste time playing stupid ass video games as kids do. Of course the stock price was going to jump. Kids get bored with games and they want new games to play which generates revenue. It's that simple.

This scenario reminds me of that scene in the movie “War Games” when Dabney Coleman’s character says........”There is no way some kid can drop a dime in a telephone and disrupt our entire defense system”

Uh, yeh there is.

[gnadfly]

I'm surprised there is not an outcry to "Deplatform RobinHood" or the other apps they're using. After all, they're domestic terrorists.

[gnadfly]

Originally Posted by Tiny

....

Why do I bring this up? Chamath is not only a conman, who's hurt a lot of ordinary investors through the SPAC's he's brought to market, but he's also a Democrat who has ambitions to become the next governor of California. He's donated a lot to Democratic politicians. This is the guy who's contributing hugely to this problem, not Donald Trump. And this is typical of a number of the Democratic Party elite. They have their own cons going, be it plaintiff's lawyers who profit from legislation passed by Democrats, or the tycoons who profit from loopholes in a complicated tax and regulatory systems.

Mark my words, if the Dims go unchecked, they will successfully sue all the oil companies for every cent they possess for "climate damage." Of course, very few dollars will go to the "little guy." It's go into the govt coffers and then into the Dim coffers.

[oeb11]

DPST/ccpers are far too busy with their TDS, Trump hate, and 'Impeachment Farce' - to bother with the kids playing games, and folks defying their Wall Street tycoons who make money for teh DPST/ccp platform - YET!

[rexdutchman]

OF course its Ts fault , they never except any blame , just watch all the job killingS and let see who to blame

[GastonGlock]

Originally Posted by Lucas McCain

Kids are mostly at home now. Kids love video games. Kids have more free time so they play video games more. There is nothing shocking here about those facts. It has little to do about Trump and more to do about how they can't go to school so they waste time playing stupid ass video games as kids do. Of course the stock price was going to jump. Kids get bored with games and they want new games to play which generates revenue. It's that simple.

That's not what's happening though. Gamestop has been on the deathknell for a couple years now and filed for bankruptcy I think in 2019. Modern gaming systems are moving to digital delivery systems which remove Gamestop from the market.

What was happening is that Hedge funds were trying to short Gamestop to bleed it dry while making a tidy profit. Someone noticed, took it to the amateur day trader board on Reddit, and they all conspired to buy it up and hold to cause the price to surge and hopefully bankrupt the hedge fund. So far it's working.

[GastonGlock]

Originally Posted by gnadfly

Mark my words, if the Dims go unchecked, they will successfully sue all the oil companies for every cent they possess for "climate damage." Of course, very few dollars will go to the "little guy." It's go into the govt coffers and then into the Dim coffers.

That won't happen, Dem reps and senators are in big oil's pockets.