When GameStop’s stock surged with the help of amateur traders and Reddit’s r/wallstreetbets in January, the traditional financial world was taken almost entirely by surprise. CNN’s Chris Cillizza explains the politics at work in the stock’s surge — and how it connects to some of the same ideas pushed by former President Donald Trump.
SOURCES AND FURTHER READING:
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Robinhood blocks purchases of GameStop, AMC, and others after days of Reddit-fueled rallies
Class-action lawsuit filed against Robinhood following outrage over GameStop stock restriction
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Trump wants his supporters called the “super-elite” because “we got more money” and “nicer boats”
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I was named "best dressed" in 7th grade. That, along with being CNN's editor at large and author of the daily "Point" newsletter are my proudest achievements. Look for me here every Tuesday and Thursday to find out what’s really going down in politics.
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#CNN #Cillizza #GameStop
Did you buy any GameStop stock? — Chris
@President Joe Biden mmm no
@President Joe Biden No, socialism as an ideology is diametrically opposed to the free market. I say that as someone with socialist sympathies myself. Wall Streets Bets is more of a libertarian forum; the fact that “populists” of all stripes are jumping on the bandwagon shows the vacuity of the “movement.”
@Mark B. Howard hire…🤷🏾
@Zex Maxwell 😂
@Professor Moriarty Sorry to hear that hon. I believe AOC too.
Are the people running this media outlet insane?
@CLUELESS JOE lmao Trump lives rent free in their heads
@Tracy HAAAA🤣😅😅😅😅🤣🤣 GOOD ONE 👍👍👍👍👍✌
There’s got to be a bigger idea here, the only possible way CNN viewers could ever start to realize that CNN is fake news is them openly siding with the big evil corporations that their idiot viewers hate for reasons they’re not smart enough to understand. I mean this is just way to on the mark bad decision for it to be an accidental bad decision.
Where were you the last 4 years?
These presstitutes are literal scum.
Very.
CNN showing their true colors defending wall street, hedge funds, and corporations
@Scott McWhinnie the US is a representative democracy, not a direct democracy. Nobody is claiming it’s a direct democracy because that’s objectively false, but it’s not inaccurate to call it a democracy, because a representative democracy is a form of democracy. It’s still “governed by the people” in that they elect their representatives, you know “demo-cracy”? Goddamn dude. I joke about leftists being too stupid to know what words are but you are actually too stupid to know what words are. And I don’t like that. Because I like humor. How am I supposed to humorously exaggerate how stupid people like you are when you’re actually as stupid as the most absurd exaggeration I can even think of?
@The Ghey Mantis bro! calm toi. Je ne suis pas un “leftist” je ne comprends pas pourquoi tu es en colère. Tout que j’ai voulu expliquer était comment cnn n’est pas le communist news network. Hahaha conard! J’espère que tu peux trouver la paix avec toi-même. Bonne journée.
these censoring criminals won’t let you post a link to the truth about what is really going on, but if you put “mitch smoove show” in the search bar, the latest video shows a guy who explains exactly what is going on – (info starts at 2:09 in that video)
I don’t think that was what he was trying to to. He was trying to say that both Gamestop and trumpy are about sticking it to the man
@Scott McWhinnie yea I don’t speak wingdings.
I think “The Point” was missed this time bud. The redditors doing this have nothing to do with “him”.
@Johnny Hellfire And now you’re spamming emojis/slogans like a cultist.
Seriously, do you have an original thought in that head of yours?
Poor guy, you bought into the hype full-tilt, didn’t you?
@Scurra but I AM the milk man, and my milk IS delicious
@Scurra You sound genuinely pissed that some ppl played these corrupt scumbags at their own game and made some money..as for these companies going bankrupt i wish that were the case but the dementia patient in charge will bailout their sorry asses with taxpayer money just like his idiotic boss did back in 2008.. Your description of populism basically describes the democrat party platform every 4yrs😂😂.. I’d still rather have that than the direct democracy a growing number of ppl seem to want
@Chuck Kistler or is it that the “experts” dismiss anything or anyone that disagrees with them as “disinformation”, “Russian Asset”, “trumpers”, “Bernie bros”, etc…..
@Walter White Except they didn’t play them. WSB never had the volume of stock to achieve anything close to what they claimed. Most of the movement was other funds riding the initial bump. All this did was hurt a couple of funds, and made billions for others. The net result is a win for Wall Street.
What I’m angry about is the retail investors that bought into the hype these idiots were spewing and they’re going to get hosed. If you bought in early, good for you. If you were one of the morons saying buy or hold at ~$300, you are every bit the problem as the hedge funds.
_’…describes the democrat party platform every 4yrs’_ And that’s just boiler-plate ‘Dems bad’ stupidity. Can you even articulate an actual position of the party? A real position, not the Right-wing media’s histrionic interpretation.
_’…dementia patient in charge’_ And yet more Right-wing dogma. Biden is more articulate than Trump, despite his affinity for gaffes. But none of you seemed to have had a problem with the verbal diarrhea that were Trump’s unscripted speeches.
So you are trying to tell us all those uneducated “Trumpsters” took Wall Street to the cleaners?…
I’m a republican that made 5 million off that move. I’m not sharing any of it 🤠
@tiilagum govindasamy he’s making a reference to older CNN episodes.
Basically he’s staying that it’s kind of funny that Republicans are both incredibly uneducated according to CNN and also so intelligent they were able to outsmart Wall Street.
no, he was saying that there were two dofferent ways of sticking it to the man
This has nothing to do with Trump or his supporters
The “elites” are the rich second/third world people. They’re fools keeping their own people down and pass on this thought process down so it’s never ending..
Biden was killed https://youtu.be/TdRUNQMm17I omg!!:
The RothChilds
@Thank You fbi coming for you real soon
Every type of country have these people. In the US, 90% of the wealth is controlled by 1% of the country.
Wtf does this have to do with trump besides cnn not having anything else to talk about besides him
Lol you didn’t even watch 🤣🤣🤣
Patrick Bateman was based on trump, I’m sure you didn’t know that either
Exactly. Absolutely no reason to drag him into this LMAO. What a joke, this mans lost the presidency and they CONTINUE to obsess over him. They just can’t get over it.
It was the first thing he said but yeah I’m tired of them bringing him up.
it’s about sticking it to the man, apparently
^THIS.
Darn those poor people doing populist things like participating in the stock market!
he said giving the finger doesn’t solve anything, yet the main publication of stocks to be shorted was immediately and voluntarily discontinued without regulation
Making use of your rights is not a crime, unless you’re poor of course.
This spot sponsored by hedge funds elite, LLC
It’s making the SEC reevaluate hedge funds. Pretty sure a middle finger can’t do that.
When the golden cake falls into the hands of the herd the billionaires cry. This is a great example of how the world works
The only question is only one fall for this.
Way to come down on the wrong side of this CNN. Who else is suprised 😒
The title should be “How people’s anger towards elites resulted in Trumpism and Gamestock surge.
These 2 are independent results of the same cause. Don’t try to blend things here.
He took a page from Fox News playbook of “how to invoke rage us it identity politics”
You forgot to mention that if Robin hood wanted to protect investors, they could have frozen buying AND selling, and requested an investigation into suspicious market activity. This was a clear move supporting one side of action on a stock.
Exactly. Protecting investors from using their brains and investing.
@Woke From Home Or just those buying on margins. This guy gives a good explanation of what really went down. watch?v=41C9cTiCBGM.
@cleytham what is the title of the video
“Sadly it was pregamestop” you didn’t miss much
This has nothing to do with Trump , this is all to do with wall street scams. You guys never seem to disappoint.
So, basically your point, Chris, is that you utterly and completely missed the point.
😂
He didn’t, he works for the elite
YA this is about the dumbest takes I’ve seen thus far… they are trying hard to discredit themselves and drive their channel into the dirt.
@S Marie I just got a bunch of shares
“Huge part of being an idiot actually is to constantly accuse other people of thinking they are better than you.” Peter Griffin
these censoring criminals won’t let you post a link to the truth about what is really going on, but if you put “mitch smoove show” in the search bar, the latest video shows a guy who explains exactly what is going on – (info starts at 2:09 in that video)
I called Gamestop to ask them about their current stocks of games.
They told me “Please Hold”
I’m holding too. Diamond hands!