Back in 2011, there was a movement, maybe you were around for it or maybe not, it was called Occupy Wall Street…
Many many thousands of people looked to fight back at the “establishment” for the state of the economy after Wall Street, hedge funds and bankers had taken profits above principles and left many unemployed, broke and with a very bleak financial future ahead.
Jump to 2021 in a world beaten and bruised by an invisible enemy; Covid-19. The people have been forced to stay home, businesses and families are facing the same financial uncertainty as 2008, and the same murder of crows are circling.
As hedge funds and traders look to repeat their “profits above principles” approach, shorting the stocks of vulnerable bricks and mortar business, to a point where the businesses targeted are on the brink of ruin, and in a time when we should be working together to rebuild our communities in this post Covid-19 world…
The people said NO!
It started in the sub-reddit r/wallstreetbets and has quickly spread across all major social media networks.
The plan:
Buy these stocks that the hedge funds are aggressively (some would argue illegally so) shorting and HODL (hold and never sell).
It’s called a “Short Squeeze” and it’s probably the most important short squeeze in history!
At the time of writing this there’s talk of bankrupt hedge funds, government regulators stepping in, market manipulation, blocking retail buyers buying and selling stocks, class action law suits…
This is Occupy Wall Street – with teeth!
The people threw a punch and the entire legacy financial system just felt Wall Street hit the ground… Hard!
What to learn from all of this?
Social media cannot be ignored any longer, it’s not just a thing that young people waste their time with, it’s not just memes and pictures of cats… It’s a place where every individual in the world can find other like-minded individuals and participate in a community around their loves, lives and interests.
Social media is a tool, and if used well, it can have an almighty impact! If your business, product or service adds value to even a tiny percentage of these social media communities, the potential is unlimited!