zaterdag 30 januari 2021

Reddit's 'Wall Street Bets'

"This Is For You, Dad": Redditor Shares Heartbreaking Reason For Destroying Short-Sellers In WSB Raids

As a new class of activist investors harness the power of crowdsourcing to crush short-sellers betting on the demise of ailing companies, a David vs. Goliath narrative quickly emerged (now with sympathetic billionaires joining the cause).

As these retail investors band together over Reddit's 'Wall Street Bets' forum and other platforms to crush hedge funds by triggering short-squeezes - some turning meager savings accounts into six-figure positions - several have shared very personal stories of just why they're doing this.

One such user, a Redditor who goes by the name Space-Peanut, has a very personal reason for tossing their match onto the pyre.

Read below (emphasis ours):

This is for you, Dad.

I remember when the housing collapse sent a torpedo through my family. My father's concrete company collapsed almost overnight. My father lost his home. My uncle lost his home. I remember my brother helping my father count pocket change on our kitchen table. That was all the money he had left in the world. While this was happening in my home, I saw hedge funders literally drinking champagne as they looked down on the Occupy Wall Street protestors. I will never forget that.

My Father never recovered from that blow. He fell deeper and deeper into alcoholism and exists now as a shell of his former self, waiting for death.

This is all the money I have and I'd rather lose it all than give them what they need to destroy me. Taking money from me won't hurt me, because i don't value it at all. I'll burn it all down just to spite them.

This is for you, Dad.

* * *