GameStop (GME), Hedge Funds, WallStreetBets, and RobinHood - Quickly Explained
GameStop (GME), Hedge Funds, WallStreetBets (Reddit) and RobinHood - Quickly Explained
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Kinda Script:
Okay so first we start off with wallstreet. No one likes wallstreet, except people in wallstreet. Who's in wallstreet? Rich people. Do people like rich people? No
Then we have hedgefunds what are hedgefunds? Pretty much they take loans on stocks betting that those stock prices will lower and in return making a profit, if that didn't make sense to you, this reddit comment explains it really well so just pause and read it. Also mostly rich people invest in hedgefunds so no one likes them.
Now we got r/wallstreetbets on reddit, where some redditors caught onto these hedgefunds doing their thing to Gamestop, so to mess the hedgefunds up, everyone invests a ton of money into GME (Gamestop) and the stock prices go up 3000 percent, well i don't have an exact number but it is a huge jump. Now the hedgefunds are down billions of dollars, and these redditors are making huge profits, specifically the ones starting investing at the low prices and selling in the hundreds.
Then we got Robin hood, the largest stock exchange app. They closed trades for GameStop, presumably due to them being owned by Citadel which also owns Melvin Capital who are a pretty big short seller of GME. This happened Thursday, and the day im posting this video they've opened up trade after everyone git big mad, but they've still limited jt where you can only buy 5 GME stocks.
So ya thats pretty much everything, if you want more info, there's probably some people that have made a whole documentary on this so go watch those if you really want to.
#GameStop #GME #Stocks #Robinhood #WallStreet #WallStreetBets #Reddit #GMEStocks #HedgeFunds