Gamestop and Stocks
The rise and fall of the market. This past week we’ve seen Gamestop ($GME) rise to new heights and fall, but not to new lows. In short, over the past week, there was buzz everywhere focused heavily on one topic. That is the epic rise of stock for the company Gamestop, which cost only $4 twelve months ago and rose to historic heights of $480 just days ago. The craziest part of all, it was spurred by a Reddit board and community of internet-traders. This event displayed how an online community with millions of followers can truly make a difference in something as sacred as the financial markets.
As I was doing my daily reading on stocks, I noticed $GME was trending. It caused me to look deeper. Why? A simple google search produced 1000’s of articles talking about the crazed internet board on Reddit that caused an uproar in the markets. Not only did it cause an uproar, it caused shutdowns across the internet for retail trading applications such as Robinhood. Whether you trade stocks or not, this is a great story of the people giving it back to “the man”. This is the first time in history ( so I think ) that trading has been restricted on such large levels for retail buyers.
This story is also trending across social media platforms. Countless memes are going viral and even politicians are getting involved such as Rep. Alexnadria Ocasio-Cortez (D-NY). She tweeted, “ it’s questionable for platforms like Robinhood to, “…block retail investors from purchasing stock while hedge funds are freely able to trade…” And quite frankly, I agree. The power of the people is bigger than we think. And the Reddit community is a prime example of how powerful people and communities are once united.
Imagine if all our communities united against inequalities in society the same way the Reddit community united against the big financial markets. They knew in numbers they can make a difference. The same is true for our communities. If we really want change, we must unite, and demand change together.
Cannabis and Change
Another community poised to make a big change is the cannabis community. As a frequent cannabis user and researcher, I find the cannabis community to be very open and accepting. Those who like cannabis come from all walks of life and cannot be defined in any certain way or put in a box. That is a very unique part of the cannabis community. One thing we all have in common is the love for the cannabis plant and the good vibes it produces.
What if the cannabis community came together to make a big change just like the Reddit community? The change I would want to see is deregulation across the federal government. No one should live in fear in regard to the cannabis plant. Cannabis should not be compared to schedule 1 drugs and it’s not fair that many are affected by this. There are states where medical patients can barely receive proper care with cannabis and that needs to change.
How can we possibly unite and make a change? Well, there are many ways. There are petitions that push for deregulation that one can sign. Federally, one can contact their representatives and demand to push special cannabis bills through the senate such as the Safe Banking Act and MORE Act which are designed to deregulate cannabis. Locally, one can lobby at the state capital and write to their local representatives. Or heck, one can start a Reddit board to unite others and push for change.