The "hosing the hedge funds" thing around GME was a big scam, and it seems that people are still falling for it. The GME pump and dump had no effect on the Wall

The "hosing the hedge funds" thing around GME was a big scam, and it seems that people are still falling for it. The GME pump and dump had no effect on the Wall Street establishment, and it's not even clear that any short sellers got squeezed. The pump started on r/wallstreetbets, following their normal modus operandi of sparking upward momentum in stocks by coordinated options purchases. The faux-populist narrative developed as a way to pull in first mainstream Redditors and then lazy journalists. At the height of the frenzy, average people were surrounded by messaging from most media outlets that buying highly leveraged GME options was righteous and would make you rich, and anyone questioning this narrative was derided as a "corporate shill". By contrast, NFTs are refreshingly honest, even if their long term value is questionable. An NFT is the direct digital equivalent of a numbered print of an artwork, signed by the artist. There is no pretension of political righteousness, and mainstream media is inundated with messaging that they are a scam. Everyone involved knows exactly what they are getting, and has been endlessly warned of every possible downside.