escaping the rat race

Gamestop is a videogame retailer,last year a single share was $3.25 before reaching an all time high of $470 this year, an 8000% increase.

How did that happen?

It started when some users from a reddit community called wallstreetbets noticed that hedge funds(investment fund that make profits from short selling failing stocks) were aggressively short selling.

Short selling is like betting the stock of a particular company will fail

One user in particular who is claimed to have started all this going by the handles deepfuckingvalue in reddit and Roaring kitty in youtube invested $50,000 in Gamestop, other users started doing the same which I think was mostly out of anger at how wall street was seeing unprecedented profits while the common man was suffering due to coronavirus.
This led to the stock climbing as more and more people bought Gamestop stock reaching all time highs.

The hedgefunds lost billions,Melvin capital in particular lost 13 billion

deepfuckingvalue is estimated to have made $25 million from his initial investment of $50,000. A 938% profit.
He’s 34 years old and pretty much set for life.

Hedge funds made a boatload of risk-free money during the Gamestop craze when reddit bonobos would pump stocks for no reason. They used convertible debt arbitrage strategies to kamua peasants.

I like this statement. Down with the parasitic owners of capital

That’s true but they also lost a combined $70 billion, no greater middle finger has been given to wallstreet recently