Well last week has been an interesting one. You may be sick of reading about it, but last week's GME drama really had me glued to things. To recap, users of the sub-Reddit "Wall Street Bets" began buying huge amounts of computer game retailer, Gamestop's stocks. In doing so, it put Hedge funds in an incredibly poor position, as they were shorting more stocks than there were on the market. In order to make up for their shorting, they had to buy more and the stock price went from around $16 per stock to over $400 at its peak. Then, various stock broker app companies in particularly Robinhood stopped users from buying the stocks, which was almost undoubtedly an act of market manipulation, as Robinhood themselves are directly linked to one of the most major hedgefunds set to lose money - Citadel Investments. As a result of the meme markets being stacked with stonk related memes, they are all at the bottom.
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