Commentators discussing what is happening with the market activism surrounding companies such as GameStop are missing the point. These investors punishing Wall Street aren't young tech savvy individuals trying to bring down the system. No, they're older investors, likely Trump supporters using the money they would otherwise have spent at casinos in Las Vegas or Atlantic City, to get even. They're going after all those companies that backed Biden and put him in the White House.
There are lists going around of which companies to support and which ones to sell. You may be aware that Twitter has shown volatility, especially right after they purged any active centre/right viewpoints. Well, I checked out a previous list to see if GameStop is listed and found it was, check out this list of companies to hurt for backing Antifa and the BLM organisation:
269 Companies Supporting Antifa and BLM
GameStop is at number 90 on the list. This can't be a coincidence. What is happening is that groups of investors are targeting any company they see as supporting 'the other side.' They may be small investors individually, but put a few million of them together and now you suddenly have real grunt. With GameStop they're actually buying its stock, knowing they'll blow their money, to hurt the institutions shorting the stock but also bringing GameStop into focus, which will eventually result in its failure. For these activists, a win/win.
Who is to blame for all this? Wall Street and Big Tech is of course, and all those who used their companies to police how people think. They got involved in politics - big mistake. The cost of all this will be monumental. We are talking trillions at stake. How so? Well, all those tracking funds are automated to follow the market and this new kind of volatility will result in financial carnage as these systems try to adjust to this kind of random investor activism. 2021 just became very interesting indeed.
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