The Gamestop novel these days is all over the place.
Rather than going through the technical aspects of this massive short squeeze, there is plenty to read about on the web, I’d rather draw the attention on the dynamics of what happened and the roles of players involved. Because this thing is HUGE.
It is to everyone knowledge that since nearly forever the financial market has been ruled by, played, or rigged if you wish, by the big institutions, banks, hedge funds and the likes that leveraged information asymmetry and disproportionate technical power big time, more often than not at retails’ expenses.
Then, the unthinkable happened.
A handful of daytraders found a glitch in the financial system, started to gather together and act together like ants.
Impact was MASSIVE and is under everyone eyes: in less than a week some established Titans in wall street got monkey-hammered like baby seals, beaten at their own game, in their own battlefield.
These giants lost billions, some of them got kind of bailed out, others capitulated. A bit of wealth was somehow redistributed.
We don’t know how this will end.
What we do know is that what’s happening with GME will surely make history, and can be replicated in pretty much every field of our life, not just in the financial market.
What’s happening should be an eye opener for everyone, and remind us that concerted initiative from the bottom up is still a viable option for change, possibly the only one even in these times of isolation.
We are not alone, and by acting together we can make whatever change we believe in.
Wishing you some time to think about it.
Thanks for reading, thanks for sharing.