THE GAME STOP STOCK SQUEEZE OF 2021 || Ordinary Things React
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- เผยแพร่เมื่อ 11 พ.ย. 2023
- WE LOVE GAMESTOP WE LOVE GAMESTOP DIAMOND HANDS
original video: • The GameStop Stock Shock
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I remember this. Robin hood had to block investors from investing in GameStop because it was crippling too many hedge fund investors bank accounts.
Turns out, the actual problem was that they didn't have enough liquid cash to make the transactions without tripping various anti-fraud systems in the stock exchange, (which exist to prevent various much more dramatic and nasty scams and manipulations that have happened in the past) which meant they litterally Couldn't buy stocks with dollar values as large as would be required for buying more GME shares. Not until a few days had passed for all the transactions to process and free up their cash again, at least. But they could still make transactions that Sold GME shares because that brought money back In and brought everything back into alignment so they could keep processing other transactions.
Problem is, in the position their business was in, given what they were trying to do prior to this whole GME thing regarding growth and expansion, admitting that would be Really Bad for their plans to be taken seriously as a Normal investment firm (rather than just doing this whole 'retail investor' thing)... so they lied about it.
Of course, most of their actual customers at the time didn't know jack shit about Any of that stuff, but they Could tell that the CEO of Robinhood was lying about Something... so they made some assumptions based on what they did know that made sense...
Which, it turns out, was terribly damaging to Robinhoods reputation in an entirely Different direction.
Then a whole bunch of people switched to using Other retail investment apps... which promptly had to introduce similar measures for similar reasons, though generally less extreme (both because they got in front of things early and because they just weren't getting hit as hard because the load was more spread out), and usually with a bit more honest detail about how and why they were doing that.
Some very Slightly sketchy stuff did go on in the back ground to prop up the hedge funds, but that was basically various big companies bailing each other out with loans so no one collapsed entirely before the whole mess got sorted out, rather than manipulating the market to screw over the people who were buying GME stock. Not any more than the market just doing its thing and evening out over time would have as soon as the internet got bored and moved on, anyway.
Fucking cowards. 🙄
There has to be a word for "pleasure from watching people be mad about something you're not a part of and/or don't understand", I got it so much when this was happening.
Schadenfreude fits this well "happiness at the misfortune of others"
But does schadenfreude really fit, if it's happiness at the misfortune of leeches who've been screwing over the little guy for decades?
@@RaptorTroll360poetic justice schadenfreude.
i never took part in this stuff, but watching it unfold was really funny, and the insane hypocrisy it showed
the moment the plebs take part in stock exchange it is market manipulation, but when the super rich do it? nah just business as usual
Ah yes.
The day that a bunch of redittors almost broke the economy for the lolz.
... I could almost see 4chan clapping in non-racist recognition.
Nah, wouldn't have broken the economy. Not directly anyway. The sharemarket's effect on the economy is pretty much always wildly overstated.
The reporting on it as though it would though? that Reporting affects the economy, because Most reporting of predictions about the economy is at least partially self fulfilling.
Would have made a pretty catastrophic dent in some retirement finds though, if I remember rightly, and set a few stock broker types looking for a more productive job here and there (ok, these were decently sized companies, so it's probably them and a few hundred employees), but not enough to crash the economy.
@@laurencefraser I didn't say who's economy tho.
They definetly ruined the economy of some people :v
I remember how glorious this event was.
Reddit unironically had a positive effect on the wealth of millions.
I made so much off this. So glad you're reacting. I love seeing people see this again and being reminded of my decision to trust reddit with my covid check worked out.
Those russians and the gamestop short squeeze. Lol
EVs are Effort Values. Each pokemon you fight and defeat gives your pokemon a certain number of EV for one atat, the number and stat depending on the pokemon species you defeated.
Different from IVs, which come from birth so people breed (or reset if unique) until they can get as perfect a pokemon as possible
Sometimes these events catch you in the best moment possible and you leave just before the wave crashes.
A friend of my family invested 30k in Bitcoin, and I thought that he was falling into a scam, and he eventually sold for almost 700k.
Was it a scam? It was, but if you were lucky and good with timing, you could actually made some life changing amount of money.
A decision is right or wrong when you make it depending on your data, not on the outcome.
But damn, 600k in benefits after taxes in half of a year is certainly a good way to be "wrong".
I didn't have much money to throw around but between GME and Dogecoin I made like 800 bucks profit. I play the market like its an extraction shooter get in early get the goods and leave before things get hairy.
4 ads. youtube served me 4 ads on this vid. I hope Alana is getting a decent share.
love how they made the “Skip Add” button smaller
The ramen noodles on that guy's head really creeps me out. 😬😐
I recommend all of ordinary things content. It’s great.
22:16 there I am gary there I am
Oh this was funny.
This is why I refuse to do any day trading.
Lol classic blame the russian easy bet ! Xd