Connect with us

Hi, what are you looking for?

Opinion

How Did The GameStop Stock Story Start? Where Are We Now?

It all started with Wall Street hedge funds betting that GameStop stock would go down. Now “owning stock” is just a fancy way of saying you own a small percentage of that company. The reason they were betting on that is because if the stock did indeed go down, they would make money. However, there are millions of retail investors, who are just regular people like you and me. Thanks to the popularity of Reddit stock trading forums, people started to share some of their wisdom and assumed the opposite of the hedge funders. Normal people started to assume that Gamestop stock would increase and started buying stock. So many people did this that the price of the stock went so high that at least one of the hedge funds betting against GameStop lost billions of dollars.

Where does Robinhood fit?

Enter the ghost of stock market reality, otherwise known as Robinhood. Now, Robinhood is an investment trading app that thousands of everyday, normal people use to buy and sell stock. Since the price of the GameStop stock continued to rise, they decided to stop allowing people to buy any kind of GameStop stock. Many other brokerage firms like TD Ameritrade and CharlesSchwab, which provide service to retail investors, also are not allowing the average Joe’s of the world to buy the stock. If you’re thinking illegal market manipulation, you would be correct.  

What happens now? 

The system is clearly rigged, and it is extremely unfair. They are proving in broad daylight that this was never a game we regular people were supposed to learn. This was supposed to be a secret game that the wolves of Wall Street played amongst themselves while the rest of the little guys sat idly by. The only plus side of this entire situation is that we are finally reuniting as a country. People like AOC, Ted Cruz, Ro Kanna, Rashida Tlaib, Marsha Blackburn, Ben Shapiro, Mark Cuban, Tyler Winklevoss, Charles Payne, Ja Rule, Elon Musk, Chamath Palihapitiya, Dave Portnoy and Donald Trump Jr. are all on the same side of this issue. If they really want to make it the big guys versus the little guys, then let’s show them. We need to come together and fight against this blatant manipulation.

 
For more on this story, check out this article.

12 hours ago
Why Big Media is Bad for Democracy - https://t.co/LDQWoQmukp
13 hours ago
It’s #MensHealthWeek, and it's important to talk about men’s mental health this week. https://t.co/OMrUWTMVWm
14 hours ago
Why Are Travel Expenses Breaking the Bank? - https://t.co/g6avBTuXlZ
15 hours ago
#Californians are recalling Gov. #GavinNewsom because of how he handled pandemic restrictions. Here’s a look at how CA lost people to states such as #FL and #TX in the past year.
https://t.co/4wZqfJSeAu
16 hours ago
Still Can’t Find the New PS5 and Xbox? A Game Console Shortage Is Upon Us - https://t.co/EZ18TIjY4P

You May Also Like

Opinion

I am a Robinhood user. I downloaded it to enter the world of investing. Some of my friends from college recommended it because it...

Politics

It’s almost been a year since the statewide lockdowns began to spread across the country. Since then, qualified Americans only received one stimulus payment....

Business

Have you ever heard that Denmark is the happiest nation in the world? In this segment on happiness, we hear from our guest host...

Life

Whether it be good or bad, romantic relationships have taken a turn for everyone during these times. Studies show that marriage and divorce rates...

Copyright © 2021 Bold TV. Bold TV is owned and operated by GenBiz Inc. a 501(c)(3) non-profit organization.