(TheConservativeNews.org) – It’s rare that the Right, the Left, and everyone in between can agree on something. This week, pretty much everybody seemed to concur on the idea that the GameStop stock price movement story was a joy to watch unfold.
Essentially, a large group of retail investors cooperated by investing in the gaming company. This drove up its share prices, costing institutional investors who bet against it (using a technique called “short-selling”) billions of dollars.
Donald Trump Jr. expressed his support for the actions of the retail investors. He said their scheme had managed to “move markets just like the big guys” and added it was “amazing to watch.”
Trump Jr. was joined in this sentiment by none other than Rep. Alexandria Ocasio-Cortez (D-NY). She pointed out the hypocrisy of Wall Street giants, complaining of market manipulation when so many of them had enriched themselves through similar strategies.
Short-selling is a complicated business and one that adds little or no value to the economy. This trading battle has exposed its flimsiness and could signal big changes in the way hedge funds and other professional investment entities conduct business in the future.
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