It's a story with all the makings of a Hollywood blockbuster: the little guys beat the corporate titans at their own game, expose hypocrisy and get insanely rich in the process.thanks largely to a giddy mob of "degenerates" on RedditNow, the corporate titans — Wall Street hedge funds, commentators and regulators — seem poised to fight back, calling the situation "systematically wrong".
A year ago, a user by the name of DeepF***ingValue posted a screenshot of a position he had taken in GameStop."This dude should sell now," another user wrote in response. According to DFV's January 27 post, his initial investment of $50,000, later upped to about $700,000, is now worth $US47 million.by cashing out a small amount of stock bought only weeks ago., with Redditors clearly enjoying the lulz that comes with propping up stocks the market otherwise wouldn't favour.Wall Street's institutional investors, who have been betting GameStop stock will go downIt's not clear.
On Thursday, r/WallStreetBets, whose members call themselves "degenerates", was briefly made invite-only — obscuring the subreddit for a time before it returned. The subreddit's Discord chat server was also banned for alleged hate speech.
Ah yes, ABC, simp yourselves for the rich
Catch up with the narrative you guys, you’re supposed to say they are racist antisemites. Amateurs.
Hilarious. Gambling took and uncontrolled turn for the odds manipulators who are now crying foul because they didn’t do it.
In other words Bunch of rich politician and big institution restricted normal ppl from trading so that stock price couldn’t rise and did Market Manipulation which is also been backed by media like ABC 😐
So Redditors made some rich people lose money while making GameStop execs a whole lot more money. The company famous for exploiting its customers and not treating employees well. Good job you guys. A real win for the little guy, definitely 🙄
Wait til they start buying FNMA by the bundle. Then it goes wild.
That's the same game and the way it always works but this is not a trend to end Poverty only the government can do that quickly and assuredly by direct-deposit No Budget No Debt No Deficit the Twin Council of Joy and Peace the Second Economy.. the Papyrus Tree Principle.
, powerful voice of the common person
What's the problem? It's just ordinary people engaging in the much-vaunted 'free market', but the hedge-fund managers are chucking a fit. So much for the 'free market'; those hypocrites are such snowflakes. Pathetic. Market
'Degenerates', are they? Why? Oh, I know why they're being called names. It's because they got in the way of some hedge-fund traders tearing apart a company to make a few bucks. Could that be it...perhaps? Disgraceful reporting, ABC. Simply disgraceful. RightWingMediaBias
MmeEmmeline InfiltrateWallstreet DefundWallstreet
Wait so because they rolled and smoked the rich the lads from WSB are 'degenerates' stay ez melvin
“Degenerates”? I think David is upset he’s not amongst the action. Since when does a bunch of “degenerates” have a lazy US$700,000 each lying around ... Daveeeed?
🤣
I read somewhere that the hedge funds had shorted more stock than actually exists in the company, so there will eventually be competition to buy back the existing stock
'How dare you upstarts stick your snouts in our trough!'
Not as politicians buying shares in vaccines before the government announces a deal.
Oh, so like stock brokers?
So the stock market and the economy are two different things? Wow, who woulda thunk
When normal people start playing the market like they do they just get mad lmao stay mad
What if the 'degenerates' are the hedge fund managers?
They're just doing what people have been doing for years yet now they are the 'degenerates'?
Average people are 'degenerates' ? Out of touch much ?
*cough* chaser? Won't someone think of the poor boats?
Degenerates you say. Mmmm ok
It worked, didn’t it?
Who the fuck at the ABC is approving these clickbait headlines ? Are you ABC or TMZ ?
How the fuck is selling something you don’t have (in order to manipulate its price so that you can eventually make millions of dollars from it) considered an ok way to do business? It can’t happen in the regular market, so why let it happen on the stock market? Fuck the short-era
Degenerates? 😬
Suggest you update your story to include reports that the $GME float was short sold 138% ... kinda relevant.
Seems like ABCnews does not understand how these hedge funds short. First study how these hedge funds destroys businesses and families.. How some has become so ignorant? following FoxNews? shame on you.
lol nice one pandering to reactionaries, yet again
The framing on this headline is telling.
So what wall st big wigs and their asx counterparts have done to us for decades?
Everyone should do that with these hedge funds. And you ABCnews - time to start thinking.
Really? 'degenerates' - supporting blood sucking wallstreet are we. Shame on you ABCnews
Headline
ah yes the 'classy' wall street cocaine addicts and sex whores
They need to be stopped. We never expected the same rights & entitlements to syphon money from our ponzi schemes to be given to the 'Mommy's Basement' crew.
Oh no! The wrong people are manipulating the market! 😱
Lol what about the degenerates on Wall Street who do that with global economies every day?
HOLD THE LINE
Yeah. They're literally doing everything by how the stock market works. You made it this way. Grow up
probably never going to be able to retire so screw it. I hope they topple the whole damn system over Game Stop of all things.
The basics: Hedge funds make their money by manipulating the market, and now they are getting it back. The main player has a play sheet that says: -Find a stock that's overpriced -Short it -Talk it down (tell the market it's shit) -Close the position -Make squillions
When the ruling class steals money from everyone it's perfectly normal but when a bunch of random dudes on reddit beat them at their own game they're degenerates, very cool
Smart is a more apt word than degenerates.
Fixed your headline: Rich Hedge Fund Managers cry wolf their bets on GameStop stock failed and Redditors from Wall Street Bets outplayed Wall Street at their own game. Stonk GameStonk 🚀
This is a multilayered story with some big implications and an intersection of a couple of forces that are and will shape the world in the years to come (social media, decentralized finance, censorship etc). It deserves better than this inaccurate and clickbait-y headline
Good on them. About time someone beat those fuckers at their own game.
c'mon abc do a bit of actual digging,that's not how the $GME story unfolded. Michael burry suggested the $300 mil gme buyback to gme after buying $17mil of $gme, then melvin went full retard 140% short, that's betting the company would fail,the investor 'degenerates' said fuk u
Cop that, hedgers. The little man profits boosting businesses while rich money players get shafted. This is like Jesus smashing money lenders from the temple. You should be celebrating, Aunty.
Hey you have to spread the wealth and how many real degenerates went to jail over subprime hey how many how’s nil sound that’s right nil they destroyed many live and no one went to jail
Excellent
Finally something good to come out of Wall Street hahahaha. This is the best.
hedge fund managers betting on stock going down and it doesn't because a bunch of random people think the stock is reasonable value and bet the other way. Hedge funds crying to mommy and daddy to bail them out or change the rules so they can't lose money on their bets.
Sticking it to the man by paying $300 for a $3 stock.
Lmao die mad
The hedge fund managers are degenerates: they collude to short a company to drive into the dirt based on fundamentals and buy it back because the price went up on no change in fundamentals
This will end badly
journalism once again proving that it is a tool of the elites and an enemy against the people
As opposed to the bunches of degenerates on Wall Street making themselves very rich?
A bunch of arrogant hedge fund mgrs piled into a crowded short poison looking to manipulate the stock price lower & overcharge clients - these inexperienced lack the sophistication to buy calls against short stock to create a synthetic put - Knowledge could have saved billions
🤣🤣🤣
The state of your fricken headline
Imagine if The Big Short was just all about GameStop and neckbeards
LOL 'HALP! The wrong people are manipulating the market!'
This headline is demonizing
I just hope my super fund manager is a gamer.
Legends! I'm sure the hedge fuckers will quickly cry to their sold out pollies and have some law change to prevent this happening again.
‘Degenerate’ media members aid and abet giant hedge funds that got played at their own game.
headline's a bit weird hey
perfectly normal headline, great work
I think you're missing the actual story here, the ABC.
You really think a bunch of people online can move markets, wait til you find out what the big 4 banks do your money everyday🤮
The top 1% got played at their own game which they wrote the rules to; well played by the Redditors.
Hahahah. The Rich lose at their own game for once and they get all snowflakey.
Is this a real headline? My god standards are low.
So?
Degenerates lol
here's what you need to know about wall street & ASX list corporations
Degenerates? Sounds like people are all pissed off because those 'degenerates' outsmarted y'alls stingy asses LMAO!!!!
Burn baby burn
outsmqrting the rich ufotwittet
Wall Street is fighting back and very likely engaging in all types of illegal tactics.
Perhaps those Wall Street suits should cut down on their avocado toast like they've been telling the common person to do so.
In other words, a bunch of boomers are mad that they were outsmarted by a bunch of nerds trading in their basements.
Why are people acting as if crashing the stock market helps working people
Let me fix it: A bunch of regular people on Reddit are disrupting the degenerates on Wall Street, and making themselves very rich
You mad bro?
lol
Wow, 'degenerates'? Is that what the 1% told you to call them?
BUT THE FREE MARKET WORKS
Thoughts and prayers to all those poor Wall St brokers. Drinking their own medicine.
It just proves how the economy we live in is mostly a sham.
But isn't that a core desirable behaviour to have when playing the market ?
I'd rather the Redditors get rich than the Hedge funds continuing to get richer
The fake press attack we the people!
the short-term money market is full of degenerates.
Degenerates lmao, this shit is too funny
What a shame.
It’s about the 99% taking from the 1% for a change.
God bless em
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