TLDR: GameStop (GSE) is an example of a small group of online instigators drumming up a larger group of individuals to attack short positions in stocks that are rightly weak due to underlying business problems.
This explains why relatively low income people I was around in multiple locations around the country were talking about stock positions in GameStop, or AMC (movie theaters).
None of them were the instigators in r/wallstreetbets, but they were reading it and using RobinHood and other low cost trading apps to join the mob putting pressure on people holding short positions in those stocks.
That this came from Reddit, which created gang upvote/downvote doesn’t surprise me. They figured out how to monetize that process.
I don’t like the stock “market”. Betting on what other people will think, or as in this case, ganging up to attack other groups, independent of the business, doesn’t seem like productive use of capital.
Somebody, at the end is going to be the last person holding GameStop…. and they will lose their money. I don’t mind that they pay for their silly greed.