Why was GameStop news?

Listen to The Boston Robb Show podcast talking about this GameStop Wall Street Saga at the bottom of this blog or on iTunes, Spotify, Anchor or wherever you listen to podcasts.

The coverage of the GameStop $GME stocks was interesting… especially because wealthy people make markets move & make A LOT of money almost daily.
With capitalized news running 24/7, viral headlines and catchy stories with get attention and ratings, so the GameStop Reddit Wall St Bets story was bound for headlines. But the coverage it received seemed wicked biased. Jordan Belfort, the lap dog of Wall St here even suggested collusion of the Redditors.

There he is, did you catch him saying he’s on the side of the “investor”, and not the retail investors. I really don’t understand the common folk that look up to him - he robbed common folks. He committed fraud on penny stocks!!! That’s robbing the people who have the LEAST to invest. He ain’t for the regular investor unless you have money to hand him. But he suggests collusion? Ok guy. Get ready for some flip flops because a week after all his “airtime” he tried to make an inspirational video for those “retail investors”. It came across very needy.

So everyone is aware - Roaring Kitty, the Masshole & central figure in this (aka the guys who liked GameStop stonks), made videos on his reasons liking the $GME stocks going back to 2019.

He felt it was severely undervalued and the big hedge funds were shorting it to death. He shared his feelings on social sites - NOT EVEN ON TV. Also everyone and anyone has access to see his videos - the info he shared was free for all to enjoy as entertaining insights. I say not on TV specifically because Jim Cramer and many other “Wall Streeters” tell people what stocks to buy on tv every day - they have big national shows for it. But to suggest collusion by broke folk aka not $ professionals who are doing essentially the same thing in a WAY less professional setting, is SUSPECT.

Here’s Jim Cramer explaining how to manipulate a market to make money. Who would trust this guy? Or better, who is getting advice from him through the TV? But somehow this is not collusion.

Here’s Roaring Kitty…. he feels he likes stocks. So this is what the Elite Power Puff buys on Wall St don’t like, and try to frame it as bad for market.

Are we seeing a trend here? Wealthy insider - no problem…. Broke Folk figuring out wealthy secrets - big problem - has to stop.

This video explaining how the media has only a few owners is good insight into the media bias issue. I highly suggest watching Second Thoughts channel, he does some important work.

Now there are plenty of videos explaining Short Selling - the other center of the controversy over $GME - but I want to share this one with you….

Finally I wanted to leave you with this video of Gabe Plotkin the creator of the hedge fund Melvin Capital. I believe because Melvin Capital lost a lot of money from broke folk - this is the reason behind the biased scrutiny. Notice at the end of Gabe being interview by the congressional committee, Gabe suggests he can help the lawmakers investigate, monitor and help write the new regulations to make sure poor people never do this again. Who elected Gabe to a position of public service? Entitled