Source: Wall Street
Author: Li Dan
Niuniu knocks on the blackboard:
The letter accuses mainstream media such as CNBC of accepting sponsorship from big companies, speaking for them, demonizing individual stocks such as retail hot-hype game stations, and saying, "We will remember what you did for a whole generation."
The drama of retail investors in the United States has gradually entered the most exciting part, one after another, and the plot is so unimaginable that they dare not even make such a movie.
At a time when retail investors were driving up GME's share price and onlookers were in high spirits, an accident appeared!
Unexpectedly, Wall Street directly unplugged the Internet cable! On Thursday, US brokerages, represented by Robinhood, directly closed trading in shares such as GME, AMC and Nokia. In other words, retail investors are not allowed to buy.
This kind of immoral behavior directly made GME's share price plunge. Yesterday, GME shares soared to $511 at the start of the day, but then dived, long and short in the session and sawed again and again, eventually because a large number of retail investors could not buy, the bulls were badly hurt, and the shares closed at $193.
Everyone thinks retail investors are crazy and irrational, but this bizarre practice on Wall Street has repeatedly lowered the bottom line of institutions.
First, the stronghold WSB forum server is shut down, and then directly unplug the network cable, do not let the transaction. It's not fair to let retail investors call it unfair!
Yesterday, a user of the WSB forum posted an open letter, which was scanned across the network, and retail investors in the United States said one after another that it represented the aspirations of many people.
The open letter first reprimanded Wall Street institutions represented by Melvin Capital, saying that they caused great suffering to millions of ordinary people during the 2008 financial crisis, but were rescued instead of being punished, and now they are openly illegally shorting stocks like PlayStation and market manipulation without learning a lesson from the crisis.
The letter accuses mainstream media such as CNBC of accepting sponsorship from big companies, speaking for them, demonizing individual stocks such as retail hot-hype game stations, and saying, "We will remember what you did for a whole generation."
The letter called on baby boomers not to be bewitched by the media, hoping they would understand that Wall Street institutions, which are now being attacked by retail investors, were responsible for the suffering of their children and grandchildren during the financial crisis. Retail investors are now taking an once-in-a-lifetime opportunity to punish these institutions.
The full text of the open letter is translated as follows:
When I was a teenager, I was in time for the 2008 financial crisis. I remember clearly how much impact the unscrupulous actions of those on Wall Street had had on my personal life and on the lives of the people around me. Luckily for me, my parents were cautious and a little paranoid. They saved some food. When the crisis hit, our family kept our little house and lived on muffin powder, milk powder, beans and rice for a year. Since then, my parents have been in the habit of storing food and updating the stock to make sure it is fresh.
But the relatives and friends around me are not so lucky. My aunt moved in with us and paid a little rent for my family. at that time, she was out looking for everything she could do. Does anyone know what kind of tomato soup made from tomato sauce bags in the school canteen tastes like? My friends were forced to taste it.
It was nearly a year after the worst of the crisis that my father stabilized our family's source of income and had time to help others tide over the difficulties. He hired my friend's father to do odd jobs to help with the housework. One of them made a new closet for our living room, and another took care of the flowers in our yard. I am always proud of having such parents, because even when I suspect that my family's money is still tight, they can pay attention to those who are most in need and enthusiastically lend a helping hand.
To the hedge fund Melvin Capital, I would say: you represent everything I hated during the financial crisis. You are a company that makes money by exploiting other companies and manipulating the market and the media. Your continued existence is tantamount to a profound reminder to those responsible for the suffering caused by the 2008 crisis that they have not been punished for what they did that year. Your blatant disregard of the law, whether it was naked illegal short selling a few months ago (tell your lawyer it was an accusation) or recent brazen market manipulation, shows that you have not learned any lessons since 2008.
Why are you targeted? Because you guys on Wall Street have made terrible illegal financial decisions that have changed the lives of millions of people, with bad consequences, but have been bailed out and rewarded. When I bought stocks a few days ago, I took out my savings to buy shares in GME, paid this month's rent with my credit card, and used the money I had paid for the rent to buy more GME shares (I don't recommend WSB users to do so).
I now own these stocks. This is my personal decision, as well as the decision of millions of other people. You can push GME's share price down to $120 in a few hours. I won't run away. You can spend money on thousands of reddit forums for robot interference, but I just want to hold it. You can let all the mainstream media turn us (retail investors) into monsters. I don't care. I'm going to do everything I can to make you miserable.
To CNBC, I'd like to say: you have to realize that promoting the organization's schedule will only benefit you in the short term, only in the short term. Your regular audience will soon get older and too old to care about you, and millions of us-- not only WSB users, but all those of us who were affected by the 2008 crisis and are now following GME-- will remember how you spoke for companies that destroyed many of us, and tried to bring down small potatoes. I'm sure I'll remember.
Here is a link that collates a list of CNBC sponsors and partners. They include but are not limited to IBM, Cisco Systems, T-Mobile, JPMorgan Chase & Co, Oracle Corp and ZipRecruiter. CNBC's parent company is NBCUniversal, and it is controlled by Comcast and General Electric Co.
For baby boomers and / or those close to that age, pay attention to these "millennial blog posts": you will realize that even if you are not negatively affected by the 2008 crash, your children and possibly grandchildren are the most likely victims. We are not your enemies. We are in the same camp. Don't listen to the media that we sabotage the market and attack us.
We only have an once-in-a-lifetime opportunity to punish those who caused so much pain and stress ten years ago, and we are seizing this opportunity. Your children and grandchildren may have suffered what I call suffering because of the institutions against which we are fighting. Do you really want to support those people for the sake of your family and friends? We are not asking you to risk your 401k pension account or pension fund to buy a game post stock. We just ask you to understand, to show your support, and not to support those who caused such suffering ten years ago.
To my friends in the WSB forum, I would like to say: you are all great. I can guess that I am not the only one taking personal action. I've read a lot of people's posts about what you all went through in the 2008 crash. Whether you are in order to make a profit, or adhere to the "nail households" like me, or just may participate in the trend of market fluctuations, I would like to express my gratitude. Each and every one of you is the reason why we have this opportunity. I have never been so optimistic about the future before. What many of you have in front of you is a huge amount of money that can change your lives. The redistribution of wealth from the rich to the poor is a rare example, and participation is already surprising. I love you all.
Related information:
GME leads Big Brother "mouth Blade" CNBC Anchor: has the trading power of Wall Street changed?
Refute Chamath Palihapitiya's speech at CNBC
The hardest short is here. 200000 people petitioned the president to ban short selling forever.
Edit / Jeffy
Comment(3)
太棒了,支持。散户需要联盟,不再是韭菜!
强烈支持 我也不卖! 团结!
這文總好,這才是真正的發聲,而不是那些為大資本,大機構洗地雙標評論,還說是為了你好,為了金融市場好,這些洗地者無恥之尤,券商也是大機構的走狗,今天的行為更是無賴至極!
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