#gamestock

I watch r/Wall Street Bets and related reddit communities as a hobby. I don't have screenshots but it's all on the sub (unless it goes private, but that's temporary) back a few months you'll see what I mean.

Some redditors on a subreddit known for stupid, yet successful stock and option plays found out that gamestop stock had a bunch of short sellers. This subreddit also says the r slur a lot.

Short sellers are people that borrow stock from other people willing to lend theirs at whatever price it is now, and sell it immediately. This is in the hopes that the stock will drop

Later on, they buy back that stock at a presumably different price and pocket the difference or loss.

It's like if every Mazda was the same, you could loan your Mazda out to someone they can do whatever they want with it as long as they get you *a* Mazda back. Every stock for each company is (usually) identical.

A lot more people that aren't big banks or institutional investors got into stock trading last March of 2020 with the social isolation, the stimulus checks, and some desperation thrown in. This is "retail investors/traders." Most short sellers and most stock/option money in the game is from banks and the wealthy.

R/wall street bets has had a habit of pumping stocks they believe in. They're why Tesla is, mathematically, overbought, as well as a few other companies. This ain't the first time. The reason they went for gamestop now *again* is out of spite, because they tried and failed to pump it before when Gamestop and Microsoft had some venture going i don't remember, but the short sellers depressed the price artificially (cus if a lot of people sell stock, it goes down)