Combat Reddit Users News Today : Breaking News, Live Updates & Top Stories | Vimarsana

AP Photo/Richard Drew If there was ever an episode that thoroughly exposed our financial system as a rigged game, this is it. As I wrote earlier today, some Reddit trolls decided to beat Wall Street at their own game (see Reddit Trolls Beat the Stock Market, and the Elites are Really, Really Upset). GameStop stock had been shorted at 140% in an effort to see the company crushed for the profit of the hedge funds. That’s when a Reddit board decided to fight back. They mobilized and drove up the price of the stock causing the hedge funders to absorb their losses on the other side instead of ca...

[SEE UPDATE BELOW] Harrison is a good friend of the Triggered Podcast and his tweet pretty much sums what’s happening on Wall Street: “Populism is contagious.” Yes, a few smart randos on a Reddit thread, ‘wallstreetbets,’ decided to exercise their right to free speech and only boost the stock price of GameStop through the roof. It cost hedge fund firms, who were trying to keep the price low, tons of money—billions of dollars were just roasted. If you need a visual comparison, think the Joker lighting that mountain of money on fire in The Dark Knight. Some hedge funds got wiped out...