The current battle between retail investors from the subreddit Wall Street Bets and hedge funds continues, as Gamestop stocks currently sit at $335 a share, a sharp contrast from $88 on Tuesday morning.
As the world eagerly watches small investors band together against rich Wall Street rhedge funds, some people have opened up about why this moment is so important and personal for them.
In an open letter on the Wall Street Bets subreddit, a trader with the username u/ssauronn opened up about their personal experience during the 2008 financial crisis, and how that resentment for Wall Street's greed has fueled them for this moment.
An Open Letter to Melvin Capital, CNBC, Boomers, and WSB
I was in my early teens during the '08 crisis. I vividly remember the enormous repercussions that the reckless actions by those on Wall Street had in my personal life, and the lives of those close to me. I was fortunate - my parents were prudent and a little paranoid, and they had some food storage saved up. When that crisis hit our family, we were able to keep our little house, but we lived off of pancake mix, and powdered milk, and beans and rice for a year. Ever since then, my parents have kept a food storage, and they keep it updated and fresh.