The GameStop stock surge, explained

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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CREDITS
Writer: Chris Cillizza
Producer: Allison Gordon
The Point Editor: Leigh Munsil
Video Editor: Wes Latta

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65 comments

    1. @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.”

    1. 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.

    1. @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?

    2. @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.

    3. 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)

    4. 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

  1. I think “The Point” was missed this time bud. The redditors doing this have nothing to do with “him”.

    1. @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?

    2. @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

    3. @Chuck Kistler or is it that the “experts” dismiss anything or anyone that disagrees with them as “disinformation”, “Russian Asset”, “trumpers”, “Bernie bros”, etc…..

    4. ​@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.

    1. @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.

  2. 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..

    1. Every type of country have these people. In the US, 90% of the wealth is controlled by 1% of the country.

    1. Lol you didn’t even watch 🤣🤣🤣
      Patrick Bateman was based on trump, I’m sure you didn’t know that either

    2. 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.

    1. 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

  3. When the golden cake falls into the hands of the herd the billionaires cry. This is a great example of how the world works

  4. 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.

  5. 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.

    1. @Woke From Home Or just those buying on margins. This guy gives a good explanation of what really went down. watch?v=41C9cTiCBGM.

  6. This has nothing to do with Trump , this is all to do with wall street scams. You guys never seem to disappoint.

    1. 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.

  7. “Huge part of being an idiot actually is to constantly accuse other people of thinking they are better than you.” Peter Griffin

    1. 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)

  8. I called Gamestop to ask them about their current stocks of games.

    They told me “Please Hold”

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