Culture

Here Are The Best GameStop Stock Memes Absolutely Shitting All Over Wall Street And Billionaires

"BREAKING: Elon Musk loses 'richest man in the world' title to TigBitties420_x."

Gamestop stock memes

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If you’ve been online this week, you’ve very likely seen ‘GameStop’, ‘Wall Street’, or even ‘STONKS’ trending at least once.

And if you’ve got a very smooth brain like me, it’s likely all very confusing to understand. Economics and stock trading? We truly don’t know her. But it turns out Redditors fucking hedge funds over is actually a very big deal, and is surprisingly impressive.

My colleague Joe Earp did a great explainer of the GameStop Wall Street debacle, but basically, a very bare bones run-down of what’s happening is that the WallStreetBets sub-reddit banded together and drove up the stock price of GameStop, a struggling American video game chain.

The Redditors did this because they noticed that hedge funds were shorting GameStop’s stock, which essentially means they were borrowing stock, selling them at market price, then buying them back cheaper to make a sweet profit.

Look, I know it’s all very confusing, but basically hedge fund managers were certain GameStop’s stock price would only get worse, but Reddit said not on my watch and the new demand for stock they created caused these hedge funds lose money. A lot of money. Like, around $5 billion, according to S3 Partners.

To add another layer to this entire mess, the fee-free stock trading app, Robinhood, then decided to restrict trading effectively running GameStop shares back down in price. This came after massive hedge funds like Melvin Capital, required massive bail outs to stay in business as a result of the surge caused by Redditors.

Naturally, watching these massive hedge funds get huge bail outs in the middle of the pandemic, and watching Wall Street essentially get paused to recover, angered a lot of people online. This is because of the special treatment these hedge funds were getting, as it became apparent that rich people didn’t quite enjoy when the middle- and lower-class finally understood how to beat billionaires at their own games.

Still don’t really get it? Honestly, that’s fine. Not really knowing what’s going on with stocks is part of the fun — and actually makes up a huge chunk of the memes that people are making about the whole thing.

So here are all the best memes about GameStop, Wall Street, stonks, Robinhood, and having absolutely no fucking idea what’s actually happening:

Ah, sweet, beautiful stonks.