Hundreds of years later, a Philistine giant has fallen again. On the other side of the ring was not a young man armed with a sling and a victorious smile, but a group of foreros from Reddit aware of having plucked vulture funds. They are WallStreetBets, and this is his story.
All roads lead to GameStop. The metaphorical Rome of this epic feat is a chain of video game stores on the brink of bankruptcy. So much so that the funds swirled around her, anticipating her last breath of air.
Until they arrived. A group of amateur investors who conspired to skyrocket their price and, at the same time, blow up any downward pressure. The earthquake has been felt in the rest of the exchanges and markets, in addition to assets such as Bitcoin, in which these funds have had to cut or directly liquidate their positions to compensate for the losses.
Then they came BlackBerry, Blockbuster, AMC, Bed Bath & Beyond, Dogecoin… a long list of titles that adorn like horned head the room of these foreros who have put in check half Wall Street. His Trojan horse have been platforms like Robin Hood, through which they channel their crusade against the 'greats'.
They are not doing badly, and according to Bloomberg The 50 companies with the most positions against them in the Russell 3000 index have grown 33% in the short time we have been in 2021. The strategy they have used is known in financial jargon as 'cornering', that is, strangling the bear (animal which relates directly to the bears).
"Let people 'trade'". In this tweet of March 23, 2016, the false pose of a broker that has been overwhelmed by the GameStop phenomenon in recent days is summarized. The official excuse of this platform is that they do it to "mitigate risk for our clients", pBut the truth is that this paternalistic attitude does not fit with the transgressive discourse behind which the entity was shielding itself.
After receiving numerous criticisms on social networks, even forcing Google to act ex officio and delete almost 100,000 votes with a star that have scored the application with 'bad slobber' in the last hours, Robinhood has rectified. Or almost. Now, it once again allows its users to trade with GameStop shares, but in a "limited".
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