In a span of just one week, we have seen how the common man has started to take back financial power from the billion-dollar corporations that comprise the establishment elite. The untouchables. The ones with multiple yachts, the ones who have their own private islands, their own jets that fly them across the world. While they tell you to STAY HOME and stop polluting the environment driving around in our cars and motorcycles. The ones to whom the RULES DO NOT APPLY.
Well, it appears some mentally deranged apes over at r/wallstreetbets [that's what we call ourselves haha] figured out that GameStop [a company you have doubtless at least heard of in passing over the last 2-3 decades] was an undervalued company which was being heavily shorted by Melvin Capital hedge funds, among others. These guys were betting on GameStop to fail, so that they could make easy money off GameStop's demise. In fact, they shorted 140% of the available stock in the market. Which means if it so happened that the price of GameStop stocks goes up, the filth over at Melvin Capital would have to take money out of their own pockets to pay the difference.
Let me show you in numbers how much they would have to pay up:
GameStop was being 140% shorted when it was at $6/share. Now GameStop is trading in the $300-350 range. That means that if people come calling for their shares, Melvin Capital would have to spend $344/share to return the share they borrowed originally to short the prices. They have already lost over $5b in a span of the last 3 days because of the r/wallstreetbets community. And this is despite all the shady tactics the establishment has used to try to make the retail investors [aka the regular folk] panic-sell by simulating price crashes the last 3 days, or putting out news segments in the mainstream media about how this would 'hurt the unsophisticated investors'. Oh, poor us! Where was this concern during the 2008 crisis? Just to put things into perspective, only one person, ONE, went to prison after all the bullshit the billion-dollar companies pulled. They even tried actively stopping the retail investors from buying GameStop shares on some of the trading platforms [Robinhood, TD Ameritrade for instance]. Imagine how desperate they must be to cut their losses, because they can theoretically have an infinite loss, while the people holding onto the stock can effectively keep the share price climbing into the thousands. It did go from $18/share at the beginning of Jan to $325 on Friday close, despite their pathetic attempts to artificially created stock crashes on multiple occasions.
But we, as a community, have decided to stay strong, and hold on to our stock with diamond hands and take the stocks to values never heard of before. I live here in Prague, and even so I am glad to have been able to buy at least a small amount of share in GameStop, if for nothing else, just to show solidarity.
I legit created this campaign to spread some awareness about how the game is being played at the stock markets, and how "free market" is a sham that supports only the establishment elite and not the common man. And also, this is the best way you hit back, WITH YOUR WALLET.
I'M HOLDING MY SHARES TO THE MOON, DIAMOND HANDS HERE, NO PAPER. I'll do my part in fleecing those scumbags, and if I lose all the money I invested in GameStop, then so be it. I'm fine taking the loss, if it means I help in taking down Melvin Capital with me. That's the game we at r/wallstreetbets are playing, and u/DeepFuckingValue is our patron saint who led us to the light.
I don't care about getting any donations for this, if you want to then you're welcome to do it and I'll be eternally grateful to you guys. And of course, any donations I receive will be going straight into my portfolio, to be invested in GameStop. Apparently the donation amount to be put down has to be > CZK250 on here, which is the only reason there's a CZK251 donation goal in the first place. I'd rather you just put that money down on GameStop shares for yourself. And HOLD ONTO IT, because we have complete control over how high the shares can go, for now. IF u/DeepFuckingValue CAN HOLD, THEN SO CAN WE.
Disclaimer: I'm not a financial advisor, so please do only put in money you can afford to lose. Don't get down to crazy shit like betting all your life savings into the stock.
And finally, WE FIGHT AS A UNIT. BECAUSE APES TOGETHER STRONG.