Are you confusion too? Hopefully, this helps…
The last 72 hours of life have been chaotic and full of excitement and no one seems to understand what the f**k is actually happening. Contrary to the popular narrative, there are millions upon millions of people who have absolutely no skin in the stock market game. According to a Gallup poll back in 2019, about 55% of Americans reported owning stock. That doesn’t account for their degree of investment as there is a huge difference between penny-stock owners, day traders, and hard-core hedge funds. Considering that America currently has about 328 million occupants, that leaves a LOT of people on the outside of the Wall Street bubble.
This week, all the talk surrounding the stock market is focused on GameStop. The dying business that sells video game consoles and physical copies of video games. If you’re a gamer, you know that you can download games online now and blowing in a cartridge is a thing of the past. Thus, GameStop is soon to be a thing of the past. This decay in business is like a Golden Corral for stock market vultures. A dying business means opportunity. An opportunity to “short” a business in order to make a few cheap bucks off of sinking share prices.
We know that might not mean anything to you now, but stay with us. Reddit users who were looking to stick it to these profiteering predators decided that they would beat them at their own game and here we are today in the midst of historical economic showmanship.
Trevor Noah did his best to explain this very confusing phenomenon to us common folks who aren’t steeped in economic theory. Oh, and he did it while taking a bubble bath. If you’ve seen the film The Big Short then this might be the only part that makes any sense at all to you before you watch Trevor’s informative video from The Daily Social Distancing Show.
Don’t you feel f***ing enlightened?! If not, we’ll exhaust one more effort to make it make sense. A Twitter user posted this explanation in order to help folks pick up what’s being put down.
If that doesn’t help then there is probably no saving you. Just sit back and enjoy the downfall of rich, manipulative, entitled scumbags and laugh at the memes proliferating the internet.