What Are The GME Memes About?
Since some people were asking about Game Stop stock memes:
This is not financial advice for legal reasons.
Hedge fund Melvin Capital owns shorts of Game Stop stock.
It’s complicated, but shorts are basically lending stock to sell back at a lower price to profit at a difference.
You lend someone a Starbucks coffee at $5, and they hold that coffee, then sell it back to you for $4 once the price drops, and they pocket the $1 difference. Well, now the price of coffee is like $500, and they will lose $496 dollars.
Since they can’t profit if the price is really high, Social media Reddit r/wallstreetbets bought and held on stock, and 3 million+ users are doing so in order that Melvin Capital will take a huge loss.
Game Stop was a dead stock at $20 a month ago, but now it is $200-$300 since today, and Reddit wants to hold it until stock rises to $1000 which can only be done if held until after Friday.
This rally has been uniting every normal investor and onlooker against the rich who manipulate the rules for their own benefit and give a taste of their medicine. Some people have sold their entire stock portfolio in order to put it all on GME. (Don’t do that)
So if you want to get in on this and you don’t have a stock brokerage, get a free stock on me by signing up and linking your bank to Robinhood by clicking the link below, and then either selling the free stock to buy GME or put your own money *at your own risk*. (I only put fun throwaway money).
On Friday, Melvin Capital’s holdings expire, so they have to cover it, and it may take up to 5 days.
Hold GME until it shoots up after Friday, then sell when it peaks. A lot of people are selling at $1K.
