, have you seen the news lately concerning the stock market here in the US?
It's been absolutely crazy the last few days.
You may have seen that, at the core of all the frenzy, is GameStop!
The store where you can buy, sell and trade video games.
The same company that was, very recently, on the brink of filing bankruptcy.
Just a couple of weeks ago, the value of a share of GameStop stock was about $17.
This past Friday, it closed at $325 - a rise of over 1,900%!!!
So, what's causing this meteoric rise in GameStop stock?
My understanding of it is that some finance bro that works at a hedge fund put out statements to call the GameStop stock trash - maybe because he believed it, and maybe because he put an option bet that the value of the stock would sink much lower than the $17 it was at.
Well, after that, some people on reddit caught wind and decided to make some statements of their own - and collectively decided to buy up GameStop shares to cause the finance bro to lose his bet.
From there, the battle has picked up sides, developed identities - the regular, everyday, normal guy that needs an app to buy stocks vs the elitist, D-Bag Wall Street Finance Bros.
Here's my take: I applaud people taking action to redistribute wealth, and especially sock it to the Wall Street Finance bros.
Stocks, though, are still stocks.
They're subject to government regulation and unfair interference.
That's why there's rumblings that the poor hedge fund community called up the daytrader apps like RobinHood and told them to stop letting people buy GameStop to stop their losses!
Here's another thing: we look at stocks as measures of value of a company - what it brings to the market.
Stocks like Apple and Amazon are valuable because they are strong companies that the world finds valuable.
GameStop, on the other hand, was on the brink of bankruptcy.
Remember Blockbuster Video?
Yeah, the same chain store where you could rent movies?
GameStop is that for video games
Like VHS movies and DVDs, that were made obsolete by streaming services, today many people download their games - no need for cartridges or game discs.
What makes GameStop any different from Blockbuster?
NADA.
So while people are throwing their money into the frenzy they see on tv - to buy up GameStop and hold the line against the finance bros - I'll sit this one out.
I'd rather make my money using a proven plan, and providing value to others - namely helping people like you and I build successful and profitable online businesses leveraging high ticket affiliate marketing using organic growth strategies.
Yep, I'm part of a program - the Super Affiliate Accelerator - that teaches people how to start making an extra $1k a month, $5k a month, $10k a month or more using their smartphone or computer and Facebook.
If you want to join the battle of people on reddit using an obsolete company to take down the Wall Street Finance Bros, be my guest.
If, however, you want to learn how to build your own profitable and successful online business using a proven plan and strategies,
then click on the button below to learn more about the Super Affiliate Accelerator.
Until next time, be well!
- Richard "No Finance Bro Vest" Kistnen
P.S.: If you have any questions about the SAA program, and want to learn more directly from me about it, click here to send me a message on FB messenger so we can talk more about it.
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