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The only thing more ridiculous than the rise in the GME stock are these attempts to frame this is some sort of culture war. All this is is a bunch of people on

The only thing more ridiculous than the rise in the GME stock are these attempts to frame this is some sort of culture war. All this is is a bunch of people on an online forum trying to make a quick buck; it's not some grand statement against Wall St. or whatever.

detritus 6y ago
...yet.
josefresco 6y ago
It may have started for the lulz but has seemingly morphed into a culture war/statement. I think for each person involved, it means something unique to them, which is culturally and historically significant.
- gsfan252 6y ago
  No, that's the narrative that e.g. bloomberg tried to sell by quoting single digit reddit posts. Contrast that to the OP's where they describe their GME position in pure financial terms, or the WSB admin's statement (he explicitly says it was never political). These mainstream pieces can't understand wsb, memes or irony (they probably think gamers are literally "rising up") and their audiences are financially illiterate.
jaywalk 6y ago
Wow, you really have no idea what this is all about.
Emma_Goldman 6y ago
It's obviously both, to some extent, and it's less a culture war than a class war.
elicash 6y ago
It's more than one thing. There are lots of different people involved with a mixture of motivations. It's not just playing out in a single forum, either. And while I'd agree making a "quick buck" is a driving factor, arguably "the" driving factor, that term is also relative. The average time between trades for a high-frequency trading investment firm is 40 seconds. It's out-of-place to talk about these folks making a quick buck when average trade times are measured in seconds and money is made based on having a PHYSICAL location that enables faster trades by nanoseconds.
deleted 6y ago
[deleted]
weston 6y ago
I take it you haven't seen the posts on WSB like this one: https://www.reddit.com/r/wallstreetbets/comments/l6omry/an_open_letter_to_melvin_capital_cnbc_boomers_and/ https://www.reddit.com/r/wallstreetbets/comments/l6omry/an_o...
sct202 6y ago
The culture war thing is so mystifying with this especially since like Wall Street bets on both sides. So when you're pumping some random stock for supposed ideological reasons you're probably helping a bunch of Wall Street firms with bets on that side.
VectorLock 6y ago
Attempts to frame it as Good Guys vs. Bad Guys situation is an exceptionally good way to rally people to your cause.
MrRiddle 6y ago
Have you visited recently? It’s definitely about sending a message, they want to bankrupt the short holders.
- TeMPOraL 6y ago
  Indeed. If you visit now, you'll see that the top pinned post (beyond the "daily discussion") is about people recounting their personal tragedies from 2008 financial crisis. Casual scroll around other post paints the same picture - there's a strong emotional undercurrent to this now, and the emotion is a giant middle finger towards Wall Street.
agumonkey 6y ago
but every day it gets worse
fieldcny 6y ago
It’s hard to not see some element of “war” here when the rules are changed so dramatically and arbitrarily to advantage sellers over buyers. There is literally a freeze on buying certain stocks for certain investors but not others. You don’t get much more class warfare than that. And let’s be honest no one was talking about stoping buying in any names the hedge funds are collectively long

detritus 6y ago

...yet.

josefresco 6y ago

It may have started for the lulz but has seemingly morphed into a culture war/statement. I think for each person involved, it means something unique to them, which is culturally and historically significant.

gsfan252 6y ago
No, that's the narrative that e.g. bloomberg tried to sell by quoting single digit reddit posts. Contrast that to the OP's where they describe their GME position in pure financial terms, or the WSB admin's statement (he explicitly says it was never political). These mainstream pieces can't understand wsb, memes or irony (they probably think gamers are literally "rising up") and their audiences are financially illiterate.

jaywalk 6y ago

Wow, you really have no idea what this is all about.

Emma_Goldman 6y ago

It's obviously both, to some extent, and it's less a culture war than a class war.

elicash 6y ago

It's more than one thing. There are lots of different people involved with a mixture of motivations. It's not just playing out in a single forum, either. And while I'd agree making a "quick buck" is a driving factor, arguably "the" driving factor, that term is also relative. The average time between trades for a high-frequency trading investment firm is 40 seconds. It's out-of-place to talk about these folks making a quick buck when average trade times are measured in seconds and money is made based on having a PHYSICAL location that enables faster trades by nanoseconds.

deleted 6y ago

[deleted]

weston 6y ago

I take it you haven't seen the posts on WSB like this one: https://www.reddit.com/r/wallstreetbets/comments/l6omry/an_open_letter_to_melvin_capital_cnbc_boomers_and/ https://www.reddit.com/r/wallstreetbets/comments/l6omry/an_o...

sct202 6y ago

The culture war thing is so mystifying with this especially since like Wall Street bets on both sides. So when you're pumping some random stock for supposed ideological reasons you're probably helping a bunch of Wall Street firms with bets on that side.

VectorLock 6y ago

Attempts to frame it as Good Guys vs. Bad Guys situation is an exceptionally good way to rally people to your cause.

MrRiddle 6y ago

Have you visited recently? It’s definitely about sending a message, they want to bankrupt the short holders.

TeMPOraL 6y ago
Indeed. If you visit now, you'll see that the top pinned post (beyond the "daily discussion") is about people recounting their personal tragedies from 2008 financial crisis. Casual scroll around other post paints the same picture - there's a strong emotional undercurrent to this now, and the emotion is a giant middle finger towards Wall Street.

agumonkey 6y ago

but every day it gets worse

fieldcny 6y ago

It’s hard to not see some element of “war” here when the rules are changed so dramatically and arbitrarily to advantage sellers over buyers. There is literally a freeze on buying certain stocks for certain investors but not others. You don’t get much more class warfare than that. And let’s be honest no one was talking about stoping buying in any names the hedge funds are collectively long