I’ve got a number of thoughts on GameStop and the markets that I’m going to list here in no particular order.
1. I’m very skeptical of the claim that this bull raid was caused by small Robinhood investors. This was a huge move in the price of GameStop and others and it just doesn’t seem plausible that it was caused by a bunch of Reddit goofballs investing $100 through Robinhood. To move the price that much you need people with a lot of money involved. One of the /r/WallStreetBets investors claimed to have invested $6 million of his (presumably much larger) portfolio in GameStop. What’s that a portfolio over $50-$100 million? A real “everyday guy”. If you could take a peak behind the trades I’d bet you’d find a lot of people like this along with large institutions.
