London Daily

Focus on the big picture.
Wednesday, Jun 24, 2026

Gamestop sounds like the beginning of the end of Wall Street as we know it

The Redit kids investors group got already over 7 million members. They shaking the market by the law, knocking down all the big crooks that usually making billions from everybody’s losses. And they are not going to stop. They getting richer every minute, and therefore more powerful.

Millions taking the $600 “money from the sky” they got from Donald Trump stimulus cash and convert it to millions of dollars.

Do not sell”, “Eat the rich”, “Hold the line.” “Everything burns.” Reddit’s ‘meme stock’ traders embrace the GameStop chaos.



Reddit users in the Wall Street Bets (WSB) community are basking in the rage, nihilism and chaos they’ve injected into the global financial markets after they upended the system by driving up the stock price of struggling companies such as GameStop.

The WSB community has upset some of the biggest hedge funds in the world with its David-vs.-Goliath approach, all because of a clever financial move that’s being referred to as a “meme stock” or “stonk.”

The strategy involves marshalling the WSB community to buy stock in companies that major investors have “shorted,” or bet against, because the experts expect those stocks to fail. The sudden surge of buyers drives up the value of the stock, and the major investors are squeezed into cutting their losses and giving up their short bets. The major investors lose money, while the Reddit buyers watch the value of their stocks soar (and perhaps cash them out for a massive profit).

The community started its stock blitz earlier this week with GameStop, a foundering video game retailer, before moving on to brands such as AMC, Blockbuster and American Airlines. Now they’re hunkering down and calling the big investors’ bluff, even as more people outside the community join in the cause.

The meme-stock traders were mocking the big investors and celebrating their digital winnings on Thursday, as scrutiny intensified on their wildly successful scheme. 


There was also a strong “nothing to lose” attitude in many of their posts, as they treated their investments as a small price to pay for the resulting chaos.

One user mocked hedge fund managers and business news outlets with a screenshot of his or her six-figure returns on GameStop.

“Guess what I did yesterday?” the user wrote. “Went to work then got drunk watching anime until 12 a.m. Guess what I’ll do tomorrow if I lose all these gains? Not a goddamn thing different.”

Another user shared a captioned scene from The Dark Knight, in which the Joker gleefully burns a pile of money.



It’s not about the money, it’s about sending a message,” the user wrote, in a quote from the Joker.

Many people repeated calls to “hold the line” and avoid cashing out on the artificially high stock, in order to make life harder for the big investors on the other side of things.

They also railed against e-trading apps such as Robinhood, which clamped down on WSB-related stock trading on Wednesday night. The app is one of a few that make it easy for anyone to dabble in the markets, but it has selectively halted all purchases of WSB-targeted stocks.

One Toronto-based WSB member told Global News that he invested in GameStop before the stock took off, in large part due to advice he read on the Reddit community. He says he’s enjoying the skyrocketing value now, but he still plans to hold on after the hype dies down because he likes the company.

I have no problem staying in there long-term, and whatever happens, happens,” he said, on the condition of anonymity to retain his privacy as a member of the group.

He added that the whole GameStop journey, including the short bets and Robinhood’s selective crackdown, has exposed the power imbalance between large and small investors.

“It starts to seem like as a regular person, the rules that apply to me vs. the rules that apply to a financial institution are very different,” he said. “There’s nothing illegal about it. They shorted that stock like crazy, and now regular people got on it. If another bank did it, they’d be like, ‘Well, that’s business.’”

Ja Rule, the rapper and former Fyre Festival investor, joined the calls for solidarity on Thursday morning.

DO NOT SELL!!!” he tweeted, after blasting Robinhood. “HOLD THE LINE.”

Ja Rule’s endorsement instantly made others feel a bit leery about the whole endeavour.

“Signs of the apocalypse: Ja Rule is giving trading advice,” one person joked.

Several users shared their own hard-scrabble stories on Reddit, and vowed to make Wall Street investors feel a bit of that same desperation.

You’re trying to scare us into selling. It won’t work,” user u/Hungry_Freaks_Daddy wrote in a post that was later shared widely on Twitter. “I have lived basically paycheck to paycheck for my entire adult life.

“I’m here to say fuck you and to be part of this moment, this movement… I risk my money happily. I am not the least bit scared or worried. You might be a financial expert, (but) I am a survival master.”

Reddit founder and former chairman Alexis Ohanian applauded the WSB trades on Thursday, tweeting: “This is going to be in the textbooks one day.

Ohanian highlighted several stories from people who saw the scheme as revenge against big banks for the recession of 2008.

Occupy Wall Street didn’t have Robinhood accounts and their figurative drum circle has gotten a LOT bigger thanks to the open internet,” he tweeted.

This is personal for a lot of people.”

Newsletter

Related Articles

0:00
0:00
Close
UK Announces New Military Infrastructure at Catterick to Support Engineer Regiment Relocation
University of Reading Ranked Among Top 100 Globally for Sustainability Impact
UK Launches Counter-Fraud Taskforce to Investigate Covid Loan Scams
UK Government Introduces Customs and Tax Reforms to Support High Street Retailers
Jonathan Haskel Nominated as Chair of the UK Office for Budget Responsibility
UK Government Expands Powers to Recover Benefit Debt and Tackle Welfare Fraud
Labour Party Leadership Contest Intensifies as Andy Burnham and Ed Miliband Clash Over Economic Direction
Rail Operators Urge Essential Travel Only as Extreme Heat Threatens UK Network Stability
United Kingdom Issues Red Extreme Heat Warning as Temperatures Forecast to Reach 38°C
Keir Starmer Announces Resignation as UK Prime Minister Amid Deepening Political Instability
UK Biotechnology Sector Receives Increased Public Funding to Support Regional Growth
Police Chiefs Update National Protest Management Guidelines Amid Rising Demonstration Activity
UK Aviation Regulator Expands Support for Regional Airports to Strengthen Domestic Routes
CMA Launches Investigation Into Retail Pricing Across UK Grocery Sector
UK Energy Operator Warns of Winter Supply Pressures Despite Stable Overall Grid Outlook
UK Research Council Expands Funding for Regional Biotechnology and Life Sciences Clusters
UK Compensation Scheme for Post Office Horizon Scandal Reaches 80 Percent Completion
Police Chiefs Issue Updated National Guidance on Managing Large Public Demonstrations
UK Expands Regional Airport Funding Scheme to Boost Domestic Connectivity
UK Competition Watchdog Launches Inquiry Into Grocery Pricing Practices
National Grid Warns of Tight Energy Management Needs During Upcoming Winter Peak Demand
UK Education Department Introduces National Standards for AI Use in Secondary Schools
UK High Court Clears North Sea Carbon Capture Project After Final Legal Challenge Fails
Northern Ireland Leaders Hold Emergency Talks on Trade Disruption Under Windsor Framework
Welsh Government Moves to Expand Social Housing in Response to Severe Affordability Pressures
UK Economy Sees Unexpected Rise in Business Investment in Second Quarter, ONS Data Shows
Scottish Government Unveils Multi-Billion Pound Investment Plan for Renewable Energy and Grid Expansion
UK and EU Agree Enhanced Defence Cooperation Pact Covering Intelligence and North Sea Security
Prime Minister Orders Independent Review of NHS Performance After Record Waiting Lists
Bank of England Holds Interest Rates at 5 Percent as Services Inflation Remains Persistent
UK Heatwave Disrupts Transport, Healthcare and Public Services as Red Weather Alerts Expand Nationwide
Barclays Warns of Growing Cyber Risk Divide Between Large UK Firms and Micro Businesses
European Defence Plans Including Ukraine Integration Prompt UK Strategic Reassessment
UK Equity Markets React as US–Iran Peace Roadmap Eases Oil Price Pressures
United Kingdom Expands Global Clean Energy Partnerships With Brazil, Morocco and Tanzania
Lord David Frost Urges Incoming UK Leadership to Abandon EU Regulatory Reset Strategy
Housing Groups Support Amendment to Strengthen Fire and Gas Safety Access Powers in Social Housing
South London NHS Estates Staff Ballot on Industrial Action Over Pay Structures in Hospital Maintenance Services
United Kingdom Government Invests £60 Million in AI Research Labs at Oxford and University College London
Barclays Cyber Security Report Highlights Rising Threat Exposure Among UK Small Businesses in AI-Driven Attacks
UK Met Office Heatwave Triggers Transport Warnings as Rail Operators Urge Cancellations Amid Infrastructure Strain
South London NHS Estates Workers Ballot for Strike Action Over Pay Disputes Across Major London Hospitals
Barclays Warns of Severe Cyber Security Gap Between Large Corporations and Small Businesses in the United Kingdom
United Kingdom Government Allocates £60 Million for Artificial Intelligence Research Laboratories at Oxford and UCL
National Health Service Approves Teplizumab Treatment to Delay Onset of Type One Diabetes in First European Rollout
Met Office Issues Rare Red Extreme Heat Warning Across London, South East and West Midlands as Transport and Health Systems Face Disruption
Prime Minister Keir Starmer Resigns After Labour Party Revolt Following Economic Stagnation and Local Election Losses
United Kingdom Economy Contracts for Second Consecutive Month as Private Sector Weakens and Job Loss Fears Rise
Taxpayer Support Grows for Higher Digital Levies on Multinational Tech Companies
Bank of England Signals Caution Over Inflation Despite Easing Energy Prices
×