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BlackRock may have raked in $2.4 bln on GameStop's retail-driven stock frenzy
deleted.comBlackRock Inc, the world's largest asset manager, could have made gains of about $2.4 billion on its investment in GameStop Corp as retail investors pour money into the video-game retailer's shares. Assuming no change in BlackRock's position, the value of its stake would be worth $2.6 billion now, compared with $173.6 million as of December. GameStop's stock has surged nearly 700% in the past two weeks in a rally fueled by interest from amateur investors on Reddit, forcing hedge funds to retreat from heavy losses and sparking calls for scrutiny of the social media-driven trading frenzy.
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The fact is that no amount of stock market horsesplay by the masses will ever put a dent in the strength of the elite ruling class, because the elites can just literally write themselves out of a bad deal if they ever feel truly threatened. But while stock trades won't shift the balance of power, this entire debacle can certainly be a very effective propaganda tool, especially against the dominant neoliberal mindset that would have you believe that the stock market is some kind of real measure of the health of our society.
They'll just compartmentalize
"Oh that was the exception that proves the rule!"
Some will, but you're never going to radicalize everyone in one go.
The elite are literally in the process of fudging the rules to stop this and prevent it happening in the future as we speak