The Internet vs. Wall Street: GameStop short squeeze explained 🚀

How is GameStop's skyrocketing stock and a subreddit connected? Jeff Bakalar talks with CBS News' Business Analyst Jill Schlesinger about how the internet took on Wall Street and why none of this is about videogames at all.

[suthpw]

It's not dangerous if you spread the risk out amongst thousands of reddit users going up against a few hedge funds.

[redmed]

Hedge funds are sick for trying to predict when a company will fail. They've profited from this for years and been hailed as geniuses. Good to see them get their comeuppance.

[Sharpshooter]

Big Banks: do this literally every weekday
Subreddit: *Does this once*
Big Banks: wait, that's illegal

[TheLiamMurphy]

You 100% missed the story. The story is that Robinhood, TD Ameritrade and Interactive Brokers have halted purchases on GameStock. This means that these trading companies are protecting the hedge funds. That is the story that needs to be told.

[joshyyosh]

Ok, the trolling level has now entered another dimension

[brayan]

Can’t stop, stop won’t stop 🚀. To the moon

[aUCLZlstrBhupnFrOmhNHag]

WE LIKE THE STOCK, NOTHING ILLEGAL WITH BUYING WHAT WE LIKE

[liquidketamine]

The cool thing about this story is that a bunch of degenerates from Reddit (I’m a member of the sub btw) moved the market that way.

[Rochile]

Me: I don't understand

Gets explained

Me: still don't understand

[AggressivelyMediocre]

Couldn't have happened to a nicer group of people. lmfao.

[disciprine]

Horrible explainer. I thought you would have someone who understood what happened. They neglected to mention these shorters manipulated the market to put GME into the ground and shorted it to over 100% of available float. All that's happening is retail investors noticing the institutional greed and taking advantage of it.

[omegalpha]

I learned more from the Comments than from the video.

[retardusmaximus]

We like to do a bit of economic trolling. It’s called economic trolling

[tyronemidzi]

Quickest 100k I’ve made. Less than 24hours. Power to the people !

[jamesowen]

The entire world is watching the next moves in GameStop Corp. The sensational stock is now seen as emblematic of a late-stage rally in Wall Street. There’s a lot of money flowing into the stock market and investors should invest more money like never before.

[ochiengrodgers]

She dint mention how hedge funds short stocks and then go back bad mouthing the same stock instilling fear among investors and making them sell at very low prices. Their aim is for the stock to go down as low as possible so that they can buy back at lower prices oblivious of how others loose money!

[GeoffreyBronson]

4chan elects a meme president, Reddit causes a financial crisis.
I love this timeline.

[mr.goldfarmer]

The whole Wall Street getting screwed Head Line put a BIG SMILE on my face :D

[traceh]

Explain why you aint got any 🚀 in your title

[lordromanyx]

She forgot to mention the naked short selling.