AOC Takes To Twitch To Talk About The GameStop Stock Situation
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Featured Image Credit: Google Maps / AOC
The Wall Street versus Reddit situation is mildly confusing at best, and a nightmare to understand at worst. If you're not filled in with the situation currently happening with the stock market and Reddit, the shortest explanation I can offer is that Redditors correctly predicted hedge funds using GameStop's falling stock to make money, by selling and then re-buying stock in that market. Reddit users then en masse bought stock in GameStop, costing some massive hedge funds billions of dollars - getting close to destroying them, and now the US government is involved.
There are layers and layers to this conversation, but when the names involved in the biggest Wall Street story to happen since the 2008 financial crisis are Reddit and GameStop - gamers are definitely now interested in the story.
And where can you find a lot of gamers? Twitch of course, so that's where Alexandria Ocasio-Cortez happened to be on Thursday night as the congresswoman explained the problem and the government's situation in this mess.
AOC is still pretty new to Twitch but after the huge success of her Among Us streams featuring content creators like Hasan Piker, Pokimane, CORPSE, and Disguised Toast - she's a natural. So the congresswoman has now turned to use the platform as a way to inform the public about important affairs that they should care about or need to know about and how it affects the US government.
In this stream, AOC goes over the situation at hand, with a great amount of depth with guests like Alexis Goldstein who worked on Wall Street for seven years before going on to work on financial regulations and Chamath Palihapitiya. They cover the hedge funds involved, the questions that government are facing with the free market, and how RobinHood, the app many average citizens trade on, has blocked people buying stock to try and prevent more damage to the relevant parties.
It's a great look into the situation if you're not already familiar with the ins and out of it from a government standpoint. The stream also touches on some of the issues people on the internet are pointing out with limiting the stock market to a typical consumer, to benefit the hedge funds that have gambled the stock they didn't even own. It's a system many are arguing is only built to benefit one particular group of people and now it's benefiting another - litigation and market limitations are being put in place to prevent normal people from benefiting from the stock market.
The story is by no means over - stock prices are incredibly volatile right now, hedge funds are having to be bailed out, and Redditors are promising they are not going to sell. You can expect this situation to evolve in the coming days.
