The internet (and the media in general) is going berserk over retail investors testing the mettle of hedge funds with the help of Reddit. But how did this madness start? Know Your Meme explains exactly how a diverse group of savvy internet users harnessed the power of memes to achieve ultimate gains, starting with GameStop stonks.
If you've been on the internet or turned on the news at all over the past few days, we're pretty sure that you've heard about the movement of Reddit retail investors (r/wallstreetbets) that's been f*cking up the hedge fund game. Well, it seems investment apps such as Robinhood, Webull and E-Trade want this fun to be over. The apps have decided to ban the trading of hot, shorted stocks such as Gamestop, AMC, and Blackberry - a move that's been incredibly controversial, and feels, to retail investors, like a huge betrayal. It's a betrayal that's already inspired class action lawsuits and criticism from politicians on both sides of the aisle. Despite the hubbub and anxiety, memes about this important moment in history are still flying around Reddit. Hopefully things will start looking up for the retail investors and brokerages stop treating bailed-out hedge funds with kid gloves that they do not deserve.
