Hold the Line
by HELGE Art Gallery
Title
Hold the Line
Artist
HELGE Art Gallery
Medium
Digital Art - Digital Art
Description
‘Hold the line’: Reddit’s ‘meme stock’ traders embrace the GameStop chaos
Hold the line: Holding on to a stock, even if it goes down in value.
The Wall Street Bets (WSB) community has upset some of the biggest hedge funds in the world with its David-vs.-Goliath approach, all because of a clever financial move that’s being referred to as a “meme stock” or “stonk.”
The strategy involves marshalling the WSB community to buy stock in companies that major investors have “shorted,” or bet against, because the experts expect those stocks to fail. The sudden surge of buyers drives up the value of the stock, and the major investors are squeezed into cutting their losses and giving up their short bets. The major investors lose money, while the Reddit buyers watch the value of their stocks soar (and perhaps cash them out for a massive profit).
Many people repeated calls to “hold the line” and avoid cashing out on the artificially high stock, in order to make life harder for the big investors on the other side of things.
“Guys, this only works if we work together”, retail investors call on each other to hold the line.
Uploaded
February 13th, 2021
Statistics
Viewed 795 Times - Last Visitor from New York, NY on 04/19/2024 at 5:30 AM
Embed
Share
Sales Sheet
Comments
There are no comments for Hold the Line. Click here to post the first comment.