If you've been on the internet at all in the last week, you probably know that something's been going on with Reddit, GameStop, and the stock market, but you aren't quite sure what is going on.
Well, basically, a bunch of hedge funds on Wall Street decided to "short" GameStop because it wasn't doing well. AKA, they bet on the business to fail so when it did fail, they'd get a bunch of money. Got it?
And the people of Reddit — particularly the subreddit r/wallstreetbets — decided to buy a shit ton of stock in GameStop to drive up the value so it wouldn't fail, thus causing the hedge funds to lose a shit ton of money. Here's a quick explainer, an even more detailed explainer, and a quick video Trevor Noah shared à la The Big Short:
Margot Robbie wasn't available to explain this GameStop situation in a bathtub, so this is the best we could do.
Now, Wall Street is pissed, and the investing app Robinhood has even barred people from buying further stock in GameStop and AMC.
TBH, you really don't need to fully understand what's happening to realize it's fucking hilarious, and that's why Twitter has absolutely exploded with jokes and memes about the debacle. Here are the 50 funniest:
1.
Game Stop and AMC at the next Fortune 500 meetup
2.
My friend showing me how to put my life savings into Nokia stock
3.
Everyone is treating the stock market like a fucking game and that's because it is.
4.
me at my first GameStop shareholders meeting
5.
Rich People: wHy dOn'T tHe pOoR jUsT iNvEsT tHeIr mOnEy Poor People: Ok. Rich People: ... Rich People: wait stop
6.
GameStop sitting amongst Tesla and Amazon after reddit users make it a Fortune 500 company
7.
bunch of dudes on reddit joined together to raise gamestop's stock price 150% just cuz and u want me to believe the stock market isnt just straight men's astrology
8.
ME: explain the gamestop thing to me like i'm a little kid *10 minutes later* ME: ......littler
9.
GameStop Reddit traders still going at it
10.
out here trying to find someone to explain the gamestop thing to me
11.
Wall Street right now
12.
every time i hear more about the gamestop stocks thing my brain shrivels because its all insane wizard speak to me and i am further ensured as a species we never should have gone beyond foraging for berries
13.
Amazon, Google, Apple, and Facebook when GameStop shows up to the top of the S&P 500
14.
prayers for girls whose boyfriends just said "should i try to short the gamestop stock" despite not knowing what a 401k is
15.
the ceo of gamestop
16.
Youth Pastor: do you know who also crashed a market?
17.
just invested $20
19.
Men will literally manipulate the stock market instead of going to therapy.
20.
Pretending I understand literally anything about “hedge funds” or “Game Stop” or “Reddit”.
21.
no i don’t know anything about the stock market i’m pretty
22.
Wall Street execs when they rig the stock market vs when other people do.
23.
I know this GameStop stuff is funny, but you have to remember this is hurting real people who own multiple boats
24.
yes everybody please keep talking about the stock market because I do like it and also perfectly understand it. wolf of wall street is my dad
25.
@josephpalbanese There’s this high tech firm called GameStop
26.
Not GameStop being at the center of the revolution
27.
Me when people start talking about the stock market and hedge funds
28.
huge crowd outside GameStop this morning as people line up to buy shares
29.
i know how the stock market works i literally play animal crossing
30.
Reddit discovers the stock market
31.
Interesting that it is called Game Stop when the Game has only Just Begun
32.
Reading about the stock market situation right now
33.
Game Stop employees when you go and trade in random old games now
34.
Trying to figure out what’s going on with Game Stop like
35.
me after making $9 investing in game stop
36.
“Burn Wall Street burn”
37.
$0.00 invested in stocks but entirely invested in watching wall street get fucked over
38.
Wall Street: "We want a free market" The Internet: "Okay, so we are going to collectively buy this stock to punish you for manipulating the market" Wall Street: "AAAHGHGH NOOO NOT THAT KIND OF FREE MARKET PLEASE DONT GOOGLE WHAT SHORTING A STOCK MEANS YOU ARE POOR PLEASE STOP"
39.
Wall Street: *manipulates the market to maximize profit* Redditors: *manipulate the market to maximize profit* Wall Street: why would you do this
40.
Wall Street with the "you better stop that my dad is a lawyer" energy right now
41.
My boobs are far too big for me to understand how the stock market works but i think anything that hurts Wall Street guys is good
42.
1980’s Wall Street: ‘Greed is Good’ ‘ We Are Masters Of The Universe’ 2021 Wall Street: ‘Those reddit guys are picking on us, help!’’
43.
@GameSpot *Wallstreet billionaires manipulate the market for years in their favor *r/WSB and other investors do the same Wall Street billionaires:
44.
Wall Street: "greed is good" Reddit: "buys a stock" Wall Street: not like that
45.
Me wondering what all this stock talk is about
46.
This whole gamestop thing feels like the financial equivalent of when the ants realized that they could gang up on the grasshoppers in A Bugs Life.
47.
Wall Street when Wall Street when they manipulate someone else financial markets does
48.
Wall Street last week vs Wall Street this week
49.
Wall Street: “So we should all short BlackBerry, yes?” Reddit:
50.
Everything with Gamestop is making me realize how I should have invested more time in our relationship. I treated it like a Game and I wish it never stopped. Anyways, hope you’re well.