it's a 2.3 million person subreddit dedicated to memes and YOLO Tesla calls that relishes in the massive swings that come with risky trades
aka heaven for the hyperactive amateur trader
1/ If you've felt like stock market has been disconnected from reality for the past few days, you're not alone
this is the story of the magic bubble created by amatuer traders that broke a multibillion dollar hedge fund
it's a 2.3 million person subreddit dedicated to memes and YOLO Tesla calls that relishes in the massive swings that come with risky trades
aka heaven for the hyperactive amateur trader
it's a mall-based retailer that is saddled with debt ($450 million as of Q4 2020) and falling sales (down 40% in last 2 years)
essentially, it's the Blockbuster of video games waiting to be eaten by a Netflix
the pros on Wall Street saw a failing business and took positions where they would profit if the stock falls
in fact, it's the single most shorted stock in the entire Stock and S&P 500
Melvin also held large short positions against National Beverage, iRobot, and Bed Bath & Beyond
big mistake
GameStop: +64%
iRobot: +42%
Nat. Beverage: +26%
Bed, Bath & Beyond: +19%
Melvin got absolutely obliterated
r/WallStreetBets
they had seen Melvin's shorts and mobilized en masse to blow them up
and yes, it's possible for the little guy to take on a multi-billion dollar hedge fund right now
as traders piled into GameStop, Melvin was forced to buy shares to cut some of its losses...which only drove the price higher
and remember, GameStop is a failing business
this was just r/WallStreetBets flexing on "the establishment"
after averaging a 30% yearly return since it was founded in 2014, its DOWN 30% to start the year
it had to take in $2.75 billion in outside funding to stay afloat
earlier today, billionaire investor @chamath bought $115 call options meaning he thinks the stock will keep on rising
despite his slightly tongue and cheek bullishness, the stock is skyrocketing once more today
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This is a pretty valiant attempt to defend the "Feminist Glaciology" article, which says conventional wisdom is wrong, and this is a solid piece of scholarship. I'll beg to differ, because I think Jeffery, here, is confusing scholarship with "saying things that seem right".
The article is, at heart, deeply weird, even essentialist. Here, for example, is the claim that proposing climate engineering is a "man" thing. Also a "man" thing: attempting to get distance from a topic, approaching it in a disinterested fashion.
Also a "man" thing—physical courage. (I guess, not quite: physical courage "co-constitutes" masculinist glaciology along with nationalism and colonialism.)
There's criticism of a New York Times article that talks about glaciology adventures, which makes a similar point.
At the heart of this chunk is the claim that glaciology excludes women because of a narrative of scientific objectivity and physical adventure. This is a strong claim! It's not enough to say, hey, sure, sounds good. Is it true?
Imagine for a moment the most obscurantist, jargon-filled, po-mo article the politically correct academy might produce. Pure SJW nonsense. Got it? Chances are you're imagining something like the infamous "Feminist Glaciology" article from a few years back.https://t.co/NRaWNREBvR pic.twitter.com/qtSFBYY80S
— Jeffrey Sachs (@JeffreyASachs) October 13, 2018
The article is, at heart, deeply weird, even essentialist. Here, for example, is the claim that proposing climate engineering is a "man" thing. Also a "man" thing: attempting to get distance from a topic, approaching it in a disinterested fashion.
Also a "man" thing—physical courage. (I guess, not quite: physical courage "co-constitutes" masculinist glaciology along with nationalism and colonialism.)
There's criticism of a New York Times article that talks about glaciology adventures, which makes a similar point.
At the heart of this chunk is the claim that glaciology excludes women because of a narrative of scientific objectivity and physical adventure. This is a strong claim! It's not enough to say, hey, sure, sounds good. Is it true?
