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https://edition.cnn.com/2021/01/27/politics/gamestop-stock-surge-trumpism/index.html
At the core of Donald Trump's angry populist appeal was -- and is -- this sentiment: The elites think they know better than you. They think they can tell you how to live and what to believe. But guess what? We the people are smarter than the elites!
That effort to screw the pros -- people with a short position on a stock that is surging have major vulnerabilities the higher the stock goes -- got an unexpected boost from none other than iconoclast-in-chief and Tesla founder Elon Musk, who tweeted "Gamestonk!" with a link to the "wallstreetbets" subreddit on Tuesday.
What's the end game for the GameStop surgers? Like, now that they have proven the point that they can take a stock that the pros have declared moribund and revive it -- at least for a moment -- what do they do now? Because they don't really believe that GameStop is suddenly the new Amazon or Apple or Google. It's still mostly a business that derives its value from brick and mortar stores in malls. Which, again, is not exactly a big growth area in the coming years.
The point is that there is no real point beyond showing up the pros -- proving to them that they aren't as smart as they think they are and that they don't have the ability to control everything. Which, again, has its roots in Trumpism.
Sticking it to the man will only get you so far. It's not a solution to any problem. It's just a way to express frustration
TL;DR version:
>HOW DARE YOU PEASANTS THINK YOU AREN'T BENEATH US!!!! WE OWN YOU!!! OBEY!!!!
At the core of Donald Trump's angry populist appeal was -- and is -- this sentiment: The elites think they know better than you. They think they can tell you how to live and what to believe. But guess what? We the people are smarter than the elites!
That effort to screw the pros -- people with a short position on a stock that is surging have major vulnerabilities the higher the stock goes -- got an unexpected boost from none other than iconoclast-in-chief and Tesla founder Elon Musk, who tweeted "Gamestonk!" with a link to the "wallstreetbets" subreddit on Tuesday.
What's the end game for the GameStop surgers? Like, now that they have proven the point that they can take a stock that the pros have declared moribund and revive it -- at least for a moment -- what do they do now? Because they don't really believe that GameStop is suddenly the new Amazon or Apple or Google. It's still mostly a business that derives its value from brick and mortar stores in malls. Which, again, is not exactly a big growth area in the coming years.
The point is that there is no real point beyond showing up the pros -- proving to them that they aren't as smart as they think they are and that they don't have the ability to control everything. Which, again, has its roots in Trumpism.
Sticking it to the man will only get you so far. It's not a solution to any problem. It's just a way to express frustration
TL;DR version:
>HOW DARE YOU PEASANTS THINK YOU AREN'T BENEATH US!!!! WE OWN YOU!!! OBEY!!!!
