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Wall Street Bets wants to make the big hedge funds go bankrupt. The reddit community is very popular with new stock traders, and new investors are piling into meme stocks like GameStop, Nokia, Blackberry, AMC Theatres, and even Blockbuster. These stocks had high short interest because fundamental analysis shows that the companies are struggling. Hedge funds were looking to make some easy money in the hopes these businesses would fail. However, Wall Street Bets came to the rescue. GameStop stock has risen more than 1,700% so far this year, and other meme stocks have also skyrocketed. Some redditors have started to refer to GameStop stock as Gamestonk in reference to the finance meme Stonks. GameStop stock is a massive bubble and it will surely burst. However, we have no idea how high the share price could climb. GameStop is likely in trouble longterm, but for now the company has managed to avoid bankruptcy thanks to millennial day traders capitalizing on the greed of hedge funds with deep pockets. One of the more prominent posters on the Wall Street Bets channel managed to turn $53,000 into $48 million using call options. Here’s a look at how Wall Street Bets is making massive hedge funds lose billions of dollars. Short squeezes are nothing new and they all end the same. The bubble will eventually burst, and both the hedge funds and redditors will lose unthinkable amounts of money. Are you buying GameStop stock, or are you happy to sit on the sidelines and watch the mania unfold?
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00:39 Reddit Army
02:11 Which Stocks are the Target?
04:14 The Bubble Will Burst”