What happens when working-class investors combine forces to take on the Wall Street elites?  Well, the collapse of Melvin Capital, as a start, and much more to come if retail ‘Apes’ have their way.  It’s amazing, for as much as we hear that AMC stock is a losing bet, retail investors buying (and HODLing) shares are sure upsetting many in the corporate media who claim we’re somehow ruining the market.  

The burnishers of our financial institutions, the smart and privileged people that they are, love to look down their noses at the common people.  This article, “Planet of the AMC Apes: Biggest Market Enemy Isn’t Citadel,” highlights an attitude and contempt, using words like “cult” and”mania” and “conspiracy theory” to describe the Ape movement.  We’re the “dumb money” who are mindless following the crowd, governed wholly by our emotions, unlike them.

And there’s an extent to which this is a valid criticism.  Many who see the markets as a get-rich scheme, that they will become instant millionaires for buying the latest digital token, will be sorely disappointed.  It takes patience and conviction, the ability to overcome our fears when the price drops, as well as good due diligence, to make money in the market.  Those who have YOLO’d their life savings into Luna are feeling some real pain as the price of that cryptocurrency fell through the floor.

But this idea that only some are fit to make important decisions, or that the elites are not distorting things for their own personal gain, is laughable.  The whole idea of hedge funds being allowed to short a stock into oblivion just seems wrong and especially when they are out trying to manipulate retail investors with bearish valuations, FUD articles—deploying bots to shill or bash.  This is not to mention the dark pool abuse.  You can smell the fraud, yet we’re bad for calling it out as what it is?

The thing is, most retail investors, like me, entered the market thinking that it was free and fair.  We didn’t understand how short selling worked or how much happened behind the scenes at the behest of the so-called market makers.  We’re just finally now aware of what they do to distort. We rebelled by taking an opposite position to their own in companies they were trying to bankrupt. And now they’re angry for being bested in their own game.

The true reality is that it is not about the money anymore for those who are buying meme stocks. Of course, yes, we would all be happy to see a huge profit for our efforts. But the real goal is to take on the lack of transparency and ability of the hedge funds to rob millions through cynical means.  It is not a free or fair market when some are allowed to use algorithms to manipulate or withhold orders to set the price where it benefits them.  It is also evident that there is naked shorting—that is to say they ‘create’ fake shares to sell and artificially drop the price to scare retail get out at a loss or illegal dilution.

The average Joe is tired of taking a beating by elites who sold them out over and over again.  From outsourcing, globalism, open borders, and the resultant stagnant wages, to “too big to fail” and bank bailouts at the taxpayer’s expense, they don’t actually care about pension funds, and we’re just fed up with a rigged game and corruption.  Fighting this status quo is something that is worth risking my hard-earned cash for.  Money comes and goes, but bringing some justice into the system is worthwhile.

As far as Apes being stupid.  Sure, there are dumb individuals and, absolutely, we need the meme silliness to keep us focused on the goal and laughing rather than worried.  And yet, to counter what the wealthy elites have at their disposal, there is the wisdom of the crowds and a sort of collective intelligence that is greater than the sum total of the parts.  This is not Tulip mania, this is a short squeeze play and together we’re simply Wall Street’s biggest Whale investor doing what they would do.

In the end, as a final thought, there are many things more important than money in the world and I try to remain mindful of this:

But godliness with contentment is great gain. For we brought nothing into the world, and we can take nothing out of it. But if we have food and clothing, we will be content with that. Those who want to get rich fall into temptation and a trap and into many foolish and harmful desires that plunge people into ruin and destruction. For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.

(1 Timothy 6:6‭-‬10 NIV)