Gamestop rally Trading restrictions prompt anger

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As you've probably heard by now, shares of GameStop, the video game retailer, have surged approximately a gazillion percent in the past six months, spiking sharply in the last several days. You might wonder why that happened, given that most people don't go to the store to buy video games anymore, particularly during a pandemic, and the sort answer is that a gaggle of small-time traders, many of them posters on the Reddit forum r/WallStreeBets, decided it would be both funny and a bait of cosmic retribution for them to drive up the price of GameStop's shares, screwing over the hedge fund managers who'd bet the company's stock was going to drop precipitously. 

Obviously, that didn't end up happening! Whereas in the late 2020, a share of GameStop was worth just $18.84, at one point on last week, it was going for more than $500. That turned out to be extremely bad for the firms who'd shorted the company and literally ended up losing billions of dollars. As Bloomberg put it, "it's humbling turnaround for the hedge fund titans, who in 2020 stages a comeback by pouncing on the wild market caused by the COVID-19 Pandemic. But that crisis helped push thousands if not millions of retail traders into the U.S. stock market, creating a new force that for now the professionals seem powerless to combat."

Given that most hedge fund managers are constitutionally incapable of beinghumbled, though, they’re pretty irate right now! No one comes between them and their money, especially not some amateur-hour Redditors who are supposed to have no idea what they’re doing, not beating them at their own game! The natural order of the universe is supposed to be that hedge fund managers are rich and all-powerful and people posting on Reddit are peons whose lives hedge fund managers could buy and sell millions of times over, not…whatever this is! Fuck!