(JustPatriots.com)- ABC late-night “comedy” show host Jimmy Kimmel made the unfounded and shocking claim that Reddit investors, who have used their retirement funds and COVID stimulus checks to invest in companies that were shorted by hedge funds, are….”Russian disruptors.”
Will this Russia lie ever end?
During last Friday’s show, Kimmel discussed the ongoing “meme stonks” catastrophe for Wall Street, siding with billionaire investors who lost out to retail investors who decided to take a stand.
“GameStop, if you don’t know, is a video game store, and like a lot of businesses, they’ve been struggling because of COVID but also because most people buy games online now,” he explained.
Kimmel went on to describe how, despite a sharp decline in sales, “their stock price has grown by 8,000 percent because a bunch of amateur investors, maybe even some Russian disruptors, who are part of a Reddit community called WallStreetBets decided to buy a bunch of GameStop stock and drive the price up and screw over the hedge fund guys who had shorted the stock.”
Why Kimmel decided to lash out at retail investors when his show’s audience is made up largely of working and middle-class people, too, we don’t really know.
The “Russian disruptors” claim is equally confusing, as there is no evidence to suggest that the GameStop investment push has been influenced by Russia in any way.
Reddit investors did more to hurt Wall Street than the left-wing Occupy Wall Street movement ever did, costing short-sellers as much as $12.79 billion on GameStop shares alone.
Vox revealed how short sellers also lost some $0.89 billion on Bed Bath and Beyond stock, and $0.52 billion on AMC Theatres stock.
Hedge Fund Melvin Capital was hurt so badly that it was forced to close out its short position on GameStop, losing billions in the process. Citron Research also revealed that they would stop publishing their short-selling reports completely, probably to avoid Reddit and retail investors taking action that would hurt them again.
Vox, a left-wing magazine, chose to side with the Hedge Funds in the same way as left-wing comic Jimmy Kimmel…which is interesting.
“Short selling, however, has an important function in the stock market: helping to ensure things are accurately priced,” they said.
Is the left consistent on anything or do they only care about disagreeing with the right?