S523 - Wall Street PANICKING As Losses Top $70 Billion, GameStop Rebellion WINNING And Nuking Manipulators
Timcast News
Timcast Media
4.6 • 7.4K Ratings
🗓️ 28 January 2021
⏱️ 82 minutes
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Summary
Wall Street PANICKING As Losses Top $70 Billion, GameStop Rebellion WINNING And Nuking Manipulators. Unity between Democrats and Republican shutters as AOC starts playing culture war politics with Ted Cruz.
Wall Street firms colluded with big tech to rip off retail investors fighting back against big fund manipulators. This caused a huge price drop but WallStreetBets is standing firm.
Celebrities, politicians and personalities left and right united yelling HOLD THE LINE. "DO NOT SELL" was even trending on Twitter
But some were insistent on distracting people form this historical moment, the GameStop Rebellion, with people like AOC pushing people to target Ted Cruz instead of the establishment
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Transcript
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| 0:00.0 | I am not a stock guy. I'm not a Wall Street guy. I don't do day trading. I don't know too much about it. |
| 0:06.0 | I know a little bit probably enough to scratch the surface and maybe make some very simplistic explanations that require corrections. |
| 0:13.0 | I don't have a whole lot invested in anything. I just like to buy some things that I like or that I believe in. |
| 0:20.5 | The first thing I ever really bought was square stock, the payment processor because some billionaire guy told me to do it. |
| 0:26.0 | I just put a little bit in and it turned into a good investment. But for the most part, the other stocks that I have are just things that I've seen in the news and I'm like, I kind of like that. |
| 0:33.0 | I kind of like that. One of those things that I kind of like was Nokia, you know why? |
| 0:37.0 | Well, for the longest time, there was a meme about Nokia phones being indestructible. |
| 0:41.0 | These old candy bar phones seemingly could never be destroyed. And I like the idea. |
| 0:46.0 | I'm not going to invest in Google or Apple or any of these big companies, but I do love technology and I am constantly buying the latest updated phones and exploring the new tech. |
| 0:55.0 | And during my years on the ground covering all these other all those news and stuff in various cities, various countries, the latest technology was the most important thing to me. |
| 1:04.0 | So when I saw all this news about GameStop and everything, I'm like, dude, I'm not going to do it. Like I almost did buy some stock. |
| 1:10.0 | I totally get what everyone's doing. And a lot of people are making a lot of money off it. But for me to comment on it, I thought it would be more appropriate if I didn't buy GameStop or AMC. |
| 1:20.0 | However, I really do like Nokia. I do. They make phones and there's funny stories about their phone stopping bullets. |
| 1:28.0 | There's a really funny story about this. I shouldn't say funny. A journalist who got hit with a sniper bullet like a legit serious round, probably a 308 or something. |
| 1:37.0 | And it got lodged in his cell phone. I don't think it was a Nokia, but there is a story about the Nokia phone stopping the bullet. |
| 1:42.0 | So whenever I see some of these stories and they talk about a stock, usually I just ignore it. The Nokia thing I'm kind of like, oh, that was pretty cool. So I put a little bit. I didn't buy a whole lot. |
| 1:51.0 | And I was like, me, you know, I'll buy a little bit, whatever. And then I wake up to find out that Robinhood, the trading app that people are using, has frozen purchasing of Nokia shares, which is driving the price down. |
| 2:01.0 | They've frozen GameStop, AMC, Nokia and some other stocks, which is direct collusion, in my opinion, with these hedge funds because they're mad that regular people are playing the game and making some money. |
| 2:14.0 | I didn't buy Nokia thinking I'd make a whole lot of money. I didn't talk a whole lot about it because I don't want to, in any way, encourage anyone to do that, anything. |
| 2:22.0 | I don't want to advise any people on anything. I just genuinely like Nokia. And I liked the idea of, hey, that's something I get invested, I guess. |
| 2:29.0 | Now, I wake up and I hear the news. Robinhood, this is breaking. They halt support for reddit driven GameStop and AMC stocks. There's also some other stocks that aren't even being pumped. |
| 2:43.0 | Nokia was down. It was not being pumped. I just bought some because I liked it. And now it's frozen. So what I can only watch the price collapse. |
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