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"Only three times has the Budget followed a contraction in the economy This time, unlike before, the situation is due to a global pandemic," she said. Leah Williams is a writer specialising in video games & entertainment. Discord banning the Wall Street Bets server. Cry more. Learn where to … It’s doubled again since this was written. Half the registered users probably are the 1%. The furore over GameStop kicked off on January 11 when GameStop Corp. (the parent company of EB Games in Australia) announced Chewy Inc. co-founder Ryan Cohen would join its board. Help me out here. siteads.queue.push( {"site":"kotaku","pagetype":"article","ad_type":"article","sec":"in-real-life","amp":false,"ctype":"article","article":"gamestop shares reddit meme","article-tags":["au","gamestop","reddit"],"native":["null"],"aggregate":["au","gamestop","reddit"],"pageID":["null"],"sub-sec":"","cat":"in-real-life","cat1":"","ad_location":"out-of-page-mobile","provider":"google-dfp","element_id":"ad-slot_out-of-page-mobile_section-index-1"} ); Reddit spergs managed to bankrupt a hedge fund. The game retailer’s stock is up 505 per cent this year, according to the Los Angeles Times, sitting at $US132 after previously trading around $US2-4. Budget 2021: Take a look at some of the memes that are pouring in on social media. if (typeof siteads.queue !== 'undefined') { On Twitter, the hashtag #Budget2021 trended high as some users flooded the microblogging platform with memes and jokes after each announcement and others discussed the Budget. Meanwhile, there's another forum on Reddit which is also catching attention: r/SPACs, a rapidly-expanding community which counted more than 99,000 members as … Hilarious! This year, amid the coronavirus pandemic, the Budget was paperless. Ms Sithraman said the Budget was prepared in circumstances like never before and that the government was fully prepared to back and facilitate a reset of the economy. The first few days on 2021 saw a flood of memes on social media. siteads.queue.push( {"site":"kotaku","pagetype":"article","ad_type":"article","sec":"in-real-life","amp":false,"ctype":"article","article":"gamestop shares reddit meme","article-tags":["au","gamestop","reddit"],"native":["null"],"aggregate":["au","gamestop","reddit"],"pageID":["null"],"sub-sec":"","cat":"in-real-life","cat1":"","ad_location":"mrec-content-mobile","targeting":{"pos":"2"},"provider":"google-dfp","element_id":"ad-slot_mrec-content-mobile_section-index-1_pos-2"} ); Users of the subreddit routinely write posts describing buys in the tens of thousands of dollars. Might want to add an update regarding the price. Hedge Funds have done this shit for DECADES, and then a bunch of amateurs come in, and people don’t like them. Existing stock holders, on the other hand, are quietly dumping into the bubble and cleaning up. Instead, Finance Minister Nirmala Sitharaman was seen carrying a tablet in a red sleeve this morning, with reports stating that the device is a "Made in India" product. The Finance Minister announced Rs 35,000 crore for COVID-19 vaccines this year. It also led to Melvin Capital ‘closing out’ its short position in GameStop due to massive losses, meaning it will no longer invest in the company. They now sit at $US347.51 ($453.38), an additional 134.84 per cent increase on the previous day’s close. }. There’s no need for this level of aggression. r/Accounting: Primarily for accountants and aspiring accountants to learn about and discuss their career choice. On Saturday, the short stock trading over GameStop reached such heights the market was forced to briefly pause while it accounted for the sudden interest. You seem overly mad that people are doing a better job fucking over wallstreet than you ever could angora. They don’t want anyone to rock the boat… The memers capsizing and sinking it makes it all the more hilarious. This came in all forms: from Redditors having a laugh, legitimate personal investors, but also larger investment firms who’d heard the buzz and wanted a piece of the pie. I love how in just a week or two. "(Karen Stealing her fucking Kids). Thanks! It’s a risky business because it’s tough to predict when prices will be at their lowest and therefore return the highest profit. As interest mounts, so does the share price. In a meme war between Reddit and investors you wouldn’t expect Reddit to come out on top, but here we are, ogling the incredible results of what began as a joke on the internet. The latest articles about reddit from Mashable, the media and tech company ... and the memes are priceless Written by Jack Morse. Take a look at some lighthearted reactions, memes and jokes on Budget 2021 that have flooded social media: #Budget2021Expert explaining commonBudget 2021 people pic.twitter.com/52k7LQ7ary, Every year after Budget . Blah de blah, personal opinion and not that of my employer and this is not advice but if it is able to be interpreted as such it is general at best and has not taken your personal circumstances into account. GameStop is now charting at a 685 per cent increase in January alone, according to CNBC. Budget 2021 Memes And Jokes Flood Social Media Read in Other Languages Union Budget 2021: Take a look at some lighthearted reactions, memes and jokes on Budget 2021 that have flooded social media. GameStop shares are going to the moon, largely thanks to the power of Reddit and a ‘meme war’ waged with investors.The game retailer’s stock is … Reddit is a website with two reputations. Short stock investors will then buy these stocks back at a lower price and give it back to the original investor, leading to a small monetary payoff from this endeavour. The initial WSB stake in GameStop was a $50k position in the stock taken by DeepFuckingValue. kam February 12th, 2020 at 10:43 am . The rate is currently very unpredictable and while a crash is likely on the way, it’s anyone’s guess when the share price will actually slow down. It also meant major losses for short sellers, and a market phenomenon known commonly as a ‘short squeeze’. It meant anyone who’d bought ‘short stocks’ in the company was suddenly in dire waters. about 1 month ago ... LinkedIn mashable }. So, how did wily Redditors take a retailer that closed hundreds of stores months ago into the stratosphere? Reddit has managed to do more to wall street than #OccupyWallStreet ever did. Even if the ways things are is absolutely fucking exploitative and in some cases even straight up illegal. Naturally the jokes blew out of proportion, and what followed was a buying frenzy that drove the price of GameStop’s shares through the roof as major investors took them as gospel. A little over a week into 2021 and some social media users already want to "cancel … Advice and questions welcome. With the wide use of social media and sites like Reddit, 9GAG, and 4Chan, it has become increasingly easy for memes to gain popularity and go viral overnight, with millions of daily visitors looking to have a lol or two. Ah so occupy removed some fees. Follow our special coverage of Coronavirus pandemic in India and get news updates from around the world. The bandwagon is well and truly off and running, but a hell of a lot of nerds who should know better are about to lose their money. Too “creepy” for her. #Budget2021pic.twitter.com/8t2E8JWcNb, #Budget2021On budget day, CAs among other professionals pic.twitter.com/Yn8wtfQWn9, My brain while watching budget: "Mera isse koi lena dena nahi hai".#Budget2021, Meanwhile in India:#Budget2021pic.twitter.com/taxcbUbLzz. And some articles and comments I’ve seen elsewhere basically crying about these Wall Street investors being slammed, and how the Reddit memers are acting like children and should respect the big guys are absolutely delicious. How Have Memes Evolved Since Then? Now you can get the top stories from Kotaku delivered to your inbox. For now, it looks like ‘up’ is the only direction GameStop knows. Do you even know what apps like robin hood are? They’re stock trading cowboys and GameStop is only a fraction of their plays, notwithstanding the missteps of a few kids who have lurked for a bit until they thought they had a clue then done their dough on something stupid, like the kid in 2019 who turned $2k into a $50k debt. A lack of confidence in Cohen’s tactics and views led stock commenter Citron Research to predict a massive price drop for the company. Hedge fund seeks to hire Reddit options trader fluent in memes: ‘No higher education in economics or finance’ The role pays $200,000 with a performance related bonus, a subsidy for psychotherapy and medications, and a spot at the Burning Man festival had to seek a near-$US3 billion ($3.8 billion) bailout this week. GameStop’s stock was on the rise again, until it wasn’t; Memes have broken the brokerages; How … How has moving a few billion dollars from some stupidly rich guys to some different stupidly rich guys achieved anything? In layman’s terms, a short squeeze is a situation where stocks rise rapidly in price beyond the natural factors of the market. Not to say all of them are in that boat, but from that metric the entire subreddit has a huge amount of money to move around. While GameStop was previously considered a relatively stable investment for short stockists, the ‘GameStonk’ rush caught short stock investors flat-footed as they became unable to make a profit on their investments. These are Health and Well-Being, Physical and Financial capital and infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&D, and Minimum Government, and Maximum Governance. Privacy Policy. admin February 12th, 2020 at 11:40 am . Reply. That’s a lot of substanceless criticism, as is typical of your high quality contributions to this website, but yeah. The official subreddit has also been set to private, Bots Reportedly Helped Fuel GameStonks Hype on Facebook, Twitter, and Other Platforms, U.S. Congress Wants To Ask DeepFuckingValue Some Deep Fucking Questions About GameStop, https://finance.yahoo.com/news/occupy-wall-street-affected-market-171216750.html. The news led to Twitter users posting memes and jokes about what they could get with $1,400. According to Ms Sitharaman, Budget 2021 proposals rest on six pillars. Mr. Rumplecrump August 29th, 2020 at 7:22 am . ROFL. I mean, seriously, the mods are claiming that Occupy Wall Street was somehow about protecting small investors and allowing them to have more direct influence on the market? That applies to more than just hedgefunds as it turns out~. Business Insider further reported over $US5 billion ($6.4 billion) had been lost by short-sellers in the squeeze. After all, they clearly have enough disposable income to move the price of one stock substantially over several days just for the lols. Meanwhile, WSB managed to bring several hedge funds to the brink of bankruptcy and made wall street mad. #Budget2021pic.twitter.com/uBdIblt60y, Middle class after every financial budget #Budget2021pic.twitter.com/swZm67xGXA, Commerce students watching the budget. The number of investors that lose out to the index over the long term is significant and I can tell you it’s not brokers personal accounts, sophisticated investors or instos that do. Managed funds, sophisticated investors and most brokers have been cleaning up over the course of the pandemic thanks to the naivety of the influx of amateurs. the stock market is built on allot of hot air, much of that comes from peoples farts! She added that two more COVID-19 vaccines will arrive. Can we please discuss this a bit more rationally? Ms Sitharaman has set a target of Rs 16.5 lakh crore as agricultural credit and announced foreign direct investment (FDI) hike in insurance to 74 per cent from 49 per cent with foreign control under safeguards. Reddit board r/wallstreetbets reportedly took this news in its stride and began a counter-argument that GameStop’s shares were stronger than ever, leading to the growth of an alternate narrative which put inflated faith in the strength of GameStop’s shares. Without a complicated investment plan with contingency after contingency and enough access to capital to back it up it’s always about time in the market rather than timing the market. Do you understand how stock trading works? Karen is used as a name for the irritating, entitled woman, sometimes as an ex-wife who took custody of "the kids. Sweet memes are made of this What the favourite stocks of r/wallstreetbets have in common. But we were talking about WSB, not late to the bandwagon $600 dipshits who only learned about the entire play from reading Kotaku. What’s the tagline? Pretty much all the regular forum users who have screenshotted their GME buys show their initial stake in the range of $3-$6k, not $600. r/wallstreetbets is a reddit for trading stocks, not for blowing your stimulus cheques. After all, they clearly have enough disposable income to move the price of one stock substantially over several days just for the lols. if (typeof siteads.queue !== 'undefined') { The bail-outs only came because there is a secondary plan leveraged against this that will more than likely make them more money and the ones who have spunked their money against the wall for the lols will still get burnt. Which is such an easy line to throw around, eh, however it would also be wrong The continued growth forced the White House to comment on the situation, with spokeswoman Jen Psaki stating the situation was being closely monitored. . In this case, the short squeeze came about thanks to the loud and pervasive commentary from Reddit and Twitter which insisted GameStop was doing fantastically. Gotta agree with @djbear. Call-option volume, not short interest, is the best indicator of popularity on Reddit ”. It’s that whole “It has worked this way forever so it doesn’t need to change!” attitude that is usually sported by assholes who are personally benefiting from how things are. Enter your email below. Yep… sounds like the classic “rule for me not for thee” rich arseholes will quite often hide behind. Technically, this is a repeatable incident. Of course, it’s true that a bunch of dipshits have now blown their stimulus cheques by jumping on late to the bandwagon, effectively subsiding the profits of the original WSB players who have now largely taken their profits and sold out. siteads.queue.push( {"site":"kotaku","pagetype":"article","ad_type":"article","sec":"in-real-life","amp":false,"ctype":"article","article":"gamestop shares reddit meme","article-tags":["au","gamestop","reddit"],"native":["null"],"aggregate":["au","gamestop","reddit"],"pageID":["null"],"sub-sec":"","cat":"in-real-life","cat1":"","ad_location":"mrec-content-mobile","targeting":{"pos":"1"},"provider":"google-dfp","element_id":"ad-slot_mrec-content-mobile_section-index-1_pos-1"} ); It’s been around since 2012. One person joked that they would use the payment to make fast food chain Chick-fil … While it does appear to be stabilising after a massive period of inflation, the stable growth is wildly impressive. It’s alright, one day your activism might actually achieve something. Better question, Do you even understand the entire situation at all? Unfortunately, my wife bailed after the first pic. Of course, Occupy Wall Street was also nothing to do with stock market prices, so it should surprise nobody that it therefore didn’t have any significant effect on the price of stock. 31 responses to Creepy Joe Biden Memes to Share with Friends to Remind Them He’s a Creep. While it’s likely prices will once again plummet, it does raise interesting questions about the volatility of the international share market. Reddit’s Female Dating Strategy offers women advice — and a strict rulebook for how to act Memes, dating tips, and a judgmental look at women’s behavior By … Cohen’s investment firm reportedly had nearly a 10 per cent stake in GameStop already, but he wanted to push the company further into the digital sales market. By subscribing you agree to our Terms of Use and Yes, I wish to receive exclusive discounts, special offers and competitions from our partners. According to the Los Angeles Time, these losses meant hedge fund Melvin Capital Management had to seek a near-$US3 billion ($3.8 billion) bailout this week. Reply. if (typeof siteads.queue !== 'undefined') { Go fuck Yourself. Power to the players? Cheers! Reddit vs. Wall Street: the latest in the GameStop saga. Track Latest News Live on NDTV.com. As of Thursday morning, GameStop shares have continued to soar, experiencing exponential growth as news of the Reddit-led takeover hit the mainstream press. This saw GameStop’s share prices increase massively. As of writing, GameStop’s share price continues to trend upward, with it currently sitting at $US147.98 ($190.85), a 92.61% increase from its previous close. ” Half the registered users probably are the 1%. }. We can only hope everyone will learn from this experience and never underestimate how powerful the internet can be in the future. ................................ Advertisement ................................ Budget 2021 Memes And Jokes Flood Social Media, Swapan Dasgupta Resigns From Rajya Sabha Amid Row Over His Name For Polls, "If You Wish To Sleep Well...": Kim Jong's Sister's Warning For Joe Biden, More Pics From Jasprit Bumrah And Sanjana Ganesan's Wedding Album, A Real Life 'Vicky Donor' On Sperm Donation And Why He Did It, Funds Under MPs' Local Area Development Scheme Cleared: Finance Minister, Kapil Sibal Slams Bill Move To Define Role Of Delhi Lieutenant Governor, Centre Always Makes Efforts To Revive PSUs: Union Minister In Lok Sabha, Non-Invasive Skin Swab Tests May Quickly Detect COVID-19: Study, Indian Railways Will Never Be Privatised: Piyush Goyal In Lok Sabha, This website follows the DNPA Code of Ethics. Short selling is a process where investors purchase or ‘borrow’ stocks from other investors betting they’ll fall lower. The hedgefunds should be scared. You’re dealing with a theoretical 1.5 billion in money moving around. Karen is … The thing is, the hedge funds and the venture capitalists generally end up winning in the end. A bunch of morons on Reddit/4channers have done more to fuck over the wealthy elite than any left or right wingers or their collective movements have managed in the last century. Update #2, 11:10am AEDT: Tensions between Wall Street and retail investors are likely to escalate, with Discord banning the Wall Street Bets server for “hateful and discriminatory content after repeated warnings” over “the past few months”. Top 10 Websites for Finding Perfect GIFs & Memes GIFs help convey your feelings when chatting with friends, so why not use them to talk to your blog audience? The official subreddit has also been set to private, with a note saying the moderators “unable to ensure Reddit’s content policy and the WSB rules are enforceable without a technology platform that can support automation of this enforcement”. As Finance Minister Nirmala Sithraman started her Budget 2021 speech in parliament, Twitter users were predictably busy churning out memes. https://finance.yahoo.com/news/occupy-wall-street-affected-market-171216750.html. For Redditors (as its users are called), it's a good way to keep your finger on the pulse of the internet, participate in open discussions around shared interests, get answers from highly engaged niche communities, and, of course, perpetuate memes. That is other than, as you say, making a few stock traders mad for the lols. GameStop shares are going to the moon, largely thanks to the power of Reddit and a ‘meme war’ waged with investors. They’re using their $600 stimulus checks and when you multiply that by 2.5 million members?

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