The way Trumpism describes the rise in GameStop stock

The way Trumpism describes the rise in GameStop stock

“I met these people who they called aristocrats. ‘These people I look at them, I said,’ Is that aristocratic? ‘ “We have a lot of money, we have a lot of money, we have a house, a better apartment, we have a better boat, we are smarter than them, and they say they are aristocrats? We are aristocrats. We are aristocrats.”

“So I said tomorrow, keep calling these people – and let us face them, they are wanderers, the aristocracy, the aristocracy – so let them continue to call themselves aristocrats.

What makes Trump’s argument so strong, politically speaking, is that he’s not just calling for the elite. He said that on average Joes needed to get up and actually show what they were doing wrong – voting for him was the best way to express their anger and frustration with the alleged gambler. Donald Trump has defined himself as the collective middle finger for the aristocracy. And he won.

All of this leads me to the current trend – seemingly unspeakable – the rise in the stock of GameStop, a video game vendor that has been making money for years due to its location in malls.
The origin of the rise lies in the widespread belief among Wall Street sharps – professional investors – that shares of GameStop, even before the recent rise, were overpriced. After all, malls are in long decline – “Shopping malls will be demolished: 25% will be demolished in 5 years, “Read the CNN news headline Year 2017 – Exacerbated by Covid-19 outbreak.

As a result of the belief among investors that GameStop was the key to being destroyed, they began to run out of stock – by the principle of betting it failed. This happens all the time with many of the most fun stocks. It’s a modern stock market approach.

Unless this time, the amateur investor decides to rebel against the good stuff. Using Reddit – and known subreddit r / wallstreetbets – Amateur has started a coordinated effort to buy GameStop stock to make its price higher and higher. (It is worth noting that Reddit also is A hotspot for some of the most vocal supporters of Trump in 2016.)
That effort to look good – people with short-term stakes in a growing stock, with significant risk of the stock going up – has received unexpected encouragement from anyone other than iconoclast-in-chief and founder Tesla Elon Musk, who tweeted “Gamestonk!” There is a link to the subreddit “wallstreetbets” on Tuesday.

And there is no question that population rebellion worked for GameStop stock. On December 28, it was trading at $ 20.99 per share. On Wednesday, it was hovering under $ 335 per share.

What is the best game for GameStop? Likewise, they have now proved to the point where they can hold the stock that the genius declared the moribund and revived it – at least an hour – what are they doing now? Because they do not really believe that GameStop is Amazon or Apple or Google suddenly new. It is also a business that mostly derives its value from the brick-and-mortar stores in the malls. Which, of course, made the video an overnight sensation.

The point is, there is no real point other than the display of its virtues — proving that they are not as intelligent as they think they are and that they have no control over everything.

Which, again, has its roots in Trumpism. The whole idea of ​​Trump’s nomination and presidency is to stick with the elite. And then, really, well, there are no real plans beyond that. The screwjob Yes Points. (Montreal screwjob reference!)

That strategy — if it is a statement that can relate to this — has its limitations. Hitting it will only make you stay. It is not a solution to any problem. It is just a way to express frustration, anger and feelings of despair.

Think of it this way: Giving someone a finger may make you feel better right now. But it did not solve anything.

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