Main Street vs Wall Street. Greed-based Society Vs a fair equitable society. How to finish this battle?
The #GameStop is always a favorite place for young gamers, for years. It is a great place to trade your old games, consoles, and buy different games. Now #GameStopStock has become the most talked-about stock (or should I say a game?) in the world. Thanks, mostly due to, the same gamers who loved GameStop stores. This time the game is playing on the Wall Street turf; not a fake game, not with fake money anymore.
The game is played for two reasons: many are playing this game because they love gaming, and GameStop, and there are people who are playing this game because they are fed up with #CrookedCapitalism and #WallStreetGreed. The majority of the youth is angry because this same greed of Wall Street Hedge Funds and professionals brought US Economy to its knees in 2009-2010 but none of the Wall-Streeter was punished! The melt-down due to #SubprimeCrisis caused a lot of pain to financial health and portfolios of retirees and most households, but Wall Street gamers (they are also gamers in a sense. The only difference is that they game the system😉) lost almost nothing. They were hurt but most came back more vigorously to play the same game again, to rob the system, to rob the ordinary people. (The last decade, since #SubprimeMeltdown, the top 1% in the USA has seen even more income and wealth compared to the bottom 99%. The income inequality is getting worse at a rapid rate!) At that time, common people, mostly youth, showed their anger with #OccupyWallStreet. I think this time, we have #OccupyWallStreet2.0. This time, the battle is fought not in Zuccotti Park in lower Manhattan with limited people present but it has now moved to online, like most other things, and there are few million people fighting the battle this time.
I am sure I don't have to teach these gamers how to play. They are winning! This time, they have cornered the #WallStreetProfessionals, in their own game! I just want to share my jugaad, 2 cents based on the last 3 decades of experience with markets, and a sort of dislike about how Capitalism has turned crooked. (See my Crooked Capitalism group on FB.)
I want to share some of my thoughts on what to do now. when the game is almost won!
- In most games, we have only one winner. This time though, we need more winners. I think everyone who has played the #GME stock game is a winner at this time when the stock is trading at $450 except for those Hedge Funds and Wall Street wolves who have lost big time. I think it is time for #Reddit #WallStreetBets players to take the money in their positions, so they can wage another battle against the Wall Street greed and selfish money-mindedness. Let not this be one-time gameplay! Come out of this game as a winner, and play the next battle, next battle even better.
- The stock is going up for two reasons: The main street has almost cornered the game, and Wall Street is being squeezed. It is likely, the short squeeze has maybe done now. If Wall Street is out, this is a game of a gamer against a gamer, a common investor against a common investor. Let us not hurt each other, and kill each other. That is what wolves like: they don't want sheep to unite and give a fight. When sheep fight among themselves, wolves are likely to be laughing in the end.
- #Chamath- one of the biggest supports. He is out! He is a gamer. He robbed Wall Streeters and took his money. Most of the small players need to do the same! Take your winning and mark your victory. You have caused the pain to whom you wanted to hurt. One way to look at this is: let us be human and leave them from more suffering (if they are still there with the short position. I doubt).
- You have shown your power and moves to Wall Street. They are stunned. Probably they are out now. They have accepted their defeat (maybe at least for the time being. They are wolves after all. Who knows when they start their tricks again ;) ) By staying in too long, and by pushing GameStop stock still higher, most gamers on the Main Street are likely to hurt each other. The higher the price goes, it is going to bring the same wolves back, or the new wolves, hyenas with the smell of blood. Remember, that shorting at $500 or $1000 would have much more staying power than when they were caught shorting GameStop at $20 or $40. Also, to fight at a short at $500 is going to need a lot of arsenal from the Main Street end! It will be an even tougher battle, with even slimmer chances of victory.
- Use the money to fight another battle with Wall Street's greed! This is a war. Winning one battle is not enough. You need money, arsenal for more battles.
This battle is almost dead in my opinion. Even if it is not, selling the #ShortSellers the stocks at 10 times more, at around $450 is the right thing to do in my opinion.
- In my opinion, as the GameStop stock is riding high, #RyanCohen and team should issue new stock to raise a few billion dollars for the company. Use the money to create a parallel to #XBOXLive and #SonyPSN. These two corporates in a sense keep robbing gamers every year, you are playing or not. You have to pay them dues! They need some competition and GameStop can be a great provider of another reasonably priced place for gamers to play online games.
- Last but not the least, let us remember, we hate excessive greed. Let us not fall prey to it ourselves ;)
**** #deepfuckingvalue. And beginning of the GME saga!! I want to bookmark this post so adding it here.
https://www.reddit.com/r/wallstreetbets/comments/d1g7x0/hey_burry_thanks_a_lot_for_jacking_up_my_cost/?utm_medium=android_app&utm_source=share
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