Stock, GameStop How Gamestop Stocks Made me Rich…
Ladies and gentlemen, now one of my favorite uh places on the internet without a doubt all right, no matter where i go is wall street bets. Okay wall street bets is like my favorite reddit board: okay it’s. Actually, one of the reasons why i live for all right like if, if wall street bets ceases to exist, i’ll actually be way more depressed than i could ever really conceive, because these guys are sort of like the 4chans of trader they’re. Basically like the meme traders. At this point, all they really do is they fluff up a stock? They joke about it, and maybe like one or two people in this entire group actually make a lot of money through this. But then i would wager that 99 of the people that jump in it’s, like yeah i’ll, buy the stock for 10th out, lose their cash they’re all they all lose it all right. This is literally just like a bull market gone insane. These people are some of the most meme tacular individuals, okay, it’s one thing, memeing all right and then it’s another thing, memeing with millions of dollars on the line wall street bets really hits it now. Wall street bets basically has a couple meme positions, so you know it would be like nokia blackberry, whatever. Basically, they found gamestop one day. They basically looked at gamestop two years ago and it’s like come over here, baby let’s, uh let’s, groom you into the nicest meme stock we ever could make now to really put into history.
Why i’m making this video i i started investing around like 2019 like in the beginning of it. This was uh during something that i really wanted to get into. I i’m really into the number stuff i’m really into the whole investment i’m, really into like how finances are sort of done. This is like one of the hobbies. It’S actually become not just a hobby but a but a massive like, but a massive part of my life and a massive part of how i keep the lights on, so to speak. Right like that, that’s pretty much what it is for me now with this i developed new friends, i developed new groups. You know investment became a big part now, along with every big part, there comes the memes and there comes the bets all right now way. Back in the day, i lost a bet, and i had to invest myself into a meme position and i decided to pick gamestop why? Because i’m, a gamer – and i know that at one point, gamestop – is going to die. Okay, game stop by 2023 by 2024 or something i refuse to believe. They’Ll actually still be a company going to my local eb games, which is basically gamestop in canada uh. Ninety percent of it is funko pops, and maybe ten percent of it are like games all right, that’s, pretty much. What a game stop is these days to expect this company to survive is a little funny champ, but they’ll live as long as game discs exist.
You know as long as game companies still allow discs on their consoles. They’Ll be just fine. All right, they’ll survive the moment that gets taken away, goodbye gamestop god, damn sell those funko pops till you die now. This is when i invested like way back so around january of 2020 around this point and i was invested around four dollars and like 30 cents a little bit higher, i think actually, i might have bought like, i think the bot might have you know, purchased at A weird around the four to five dollar range. I was in gamestop right that’s, where i was. I honestly expected to lose this money, because i lost a bet with friends, and so i invested in this i thought yeah i was gon na just lose cash. Nothing was gon na really happen, so i didn’t really care it wasn’t on my radar uh, i might even have like a voter uh booklet somewhere like to send you like voter infra information like voter instructions, uh as part of like an overall package when you’re invested. If i have it, i might, i think i might be able to show it but long story short. I invested here and like guess, where it’s at right now guess where we’re sitting we are now as of 26 january at 147, a share yeah we’re, not kidding. Ladies and gentlemen, we’re not around in the span of a day, all right right now went from like it went from what 88 dollars to one 45.
now there’s a big reason for it and i’ll explain it real quick, basically, gamestop is being bullied all right. Now. I’M not saying that lightly gamestop is bullied by a lot of people who have billions of dollars to spend massive wealth capital management. Companies like in this case melvin capital management. They basically put a lot of shorts down on gamestop. They basically bet against this. They make bets against gamestop, saying yeah it’s gon na drop even lower. Now this is a post on wall street bets again all right like take this information with a big grain of salt as well too. All right laugh at it all you want, but basically this person calculates that every time the stock value increases on twelve dollars roughly for gamestop melvin capital, which is the investment firm that has a big bet against them, actually loses one billion dollars. Okay, so apparently as of right now, because it was at one hundred and three dollars – this is a two hour ago, post right, we just saw the price right now: melvin lost 3.2 billion dollars on top of whatever they had already lost. Now again, going back up over here, gamestop short sellers lost 1.6 billion dollars in a single day, as reddit traders rebelled against them right. So the way that this bullying works in this way is that these big companies are effectively shorting the stock right now. The way that this short works is that they’ll look at the stock value and say: okay, gamestop is ten dollars, we’re going to borrow the stock and say that it’s going to actually drop down to seven dollars, so they’re betting that the stock is going to drop.
Even more than what they’re borrowing at so let’s say that it hits seven dollars or maybe six dollars, five dollars or four dollars or whatever they will effectively. You know, buy that buy that buy it at that value and then keep the difference right. So that’s kind of how it’s working again it’s a little more complicated, this whole shorting play is more complicated than you could expect it’s, actually a much more like advanced level move. You know like a 400 iq move out there, but what actually happened in this case was because there were so many people that were buying it. They ended up having something called a short squeeze. Now, if you don’t know what a short squeeze is basically it’s, when this stock is being like shorted and then suddenly, because all these wall street vets dude are coming in buying the out of gamestop stock, it suddenly starts climbing. So now what happens is all the people that were betting against this now notice. The share price increasing they’re, like oh we’re, about to lose that much we’re about to some of them. You know they they start themselves. So what they’re doing is they’re buying the stock that they shorted to try to again, you know start stirring off as many of the losses as they’re mounting on to them. So what does this do in the end? Well now they joined the wall street bets people so now they’re the ones also buying the stock.
So what happens now you got the wall street bets dude buying the stock. You got the shorters, you know, buying the stock to stem off the loss. Guess what that does to the price sends that to the damn moon is what’s going on, and then everyone who ever had the mean position as a joke like me, realizes oh wall street bets actually paid off for once and then suddenly we’re sitting pretty we’re secure In the bag and that’s pretty much how this whole thing happens, the biggest losers in this whole scenario, right now from what we’re gathering are the big management companies that put hundreds of millions of dollars on a bet that this stock was gon na go down crashing. They actually are livid and themselves, and i i’m not i’m, also betting, that they are on the verge of like just losing anything like this is getting to a point where they might hit like a hundred percent loss. If this keeps skyrocketing to the levels that it is, and once that happens, you know it’s end game, there’s, no going back all right, the meme position has pretty much won. Currently, this is reddit stupidity versus multiple, like billions of dollars out there. This is reddit stupidity versus actual billionaire investors. This is the war that i expected 2021 to start off. I think what’s really happened in this case is wall street bets is suddenly actually smart, like they’re smarter than you could expect, and the reason i’m saying it is.
Maybe i’m completely wrong on this conjecture, but like it seems as though that wall street bets has found out the heavily shorted stocks out there. Basically, what they’re finding is like the heaviest cyberbully stocks? You could ever imagine the ones that everyone expects to fail, and not just everyone. People with billions of dollars expect to fail and wall street bets using the collective power of the stupidity that they have. The 2.4 million degenerates that exist, that’s, that’s, still a fair bit of buying power. The story there’s still a fair bit of manipulation that can happen, and these people basically find these. You know bullied positions in this case and they work against them and all of a sudden, you have actual internet stupidity, uh starting a war with with, with these hedge fund billionaires that have been added this for over a decade. They know the game in and out, but you know what this goes to show you when you bet against wall street bets, you are a. You are in a position to lose. Never bet against. Internet stupidity never bet against 4chan and reddit stupidity, because no matter what no matter, how smart you are, no matter how ten head, you think you are, you will always 100 percent inequitably lose. Ladies and gentlemen, that’s just my journey with gamestop it’s a fun ride. Sorry, if this kind of video is a little bit dry, but because i because this is just such a passion of mine, i have to cover it because, my god, i never expected it to be this stupid.
This is me modern. If you like what you saw.