Gamestop is a classic David and Goliath story. CNN blames it on Trump. No, really. In case you missed it, here's what the Gamestop saga is all about as explained (well) by David Knowles, along with an explanation of what CNN is saying.
As you watch this, keep in mind, hedge funds managers are very rich typically and they typically work for the super rich. These are insider elites who don't want anyone but themselves prospering. They are in it for themselves, and screw the little guy as collateral damage in the process. So seeing them take a hit is like watching Nancy Pelosi being frog-marched away by the FBI. In other words, it's great fun.
Hedge fund managers have been known to pick a stock, short sell it and then go trash it on CNBC (or similar outlet) in order to tank the stock price (hurting the company and its workers in the process) in order to cover their short-sell position for a tidy profit. The guys on Reddit noticed a pattern to this and were reacting to it.
Michael Knowles explains more:
