2021-02-19
I've been a Reddit user for a long time (/u/devospice) and some time last year I discovered the /r/wallstreetbets community where people talk about stocks that they think are going to go up and partake in highly risky investments. It's called "bets" for a reason.
Last fall someone said that GameStop (GME) had been shorted by 160% and that since demand was going to outstrip supply when the shorts came due this was going to drive the price up. This made sense to me so I bought some shares. Last month the price of GameStop spiked so much it got national attention and is now being investigated by the SEC. One hedge fund who had shorted GameStop ended up losing over $20 billion on their investment.
The people of /r/wallstreetbets are a special breed. They describe themselves as "smooth brained apes" who YOLO money they can't afford to lose on the dumbest investments they can find in the hopes that it will make them rich. For some, it has. For others, not so much. People routinely post "loss porn" on the site showing how much their portfolio has gone down. But thanks to these idiots my meager portfolio is up about 500% so I figured I at least owed them a song.
This song is a parody of "All the Way Up" by Fat Joe.
Lyrics, vocals: Devo Spice
Music: Uros Radicevic
And as they say on /r/wallstreetbets...
I LIKE THE STOCK!
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dlunas - Mar 10, 2021
I love this one.