GameStop, stock market, hedge funds, short selling - If you have heard these words a lot over the past few days but are still not totally sure about what's going on, you're not alone. "The saga that is GameStop Corp. has turned into nothing short of a national sensation," states a Bloomberg report. "For parts of the hedge-fund industry, it's an existential crisis," it says. "It's at least part of the reason the entire stock market tanked on Wednesday."
But what exactly is GameStop? And what is happening in the stock market?
Actress and comedian Avalon Penrose took it upon herself to explain the GameStop saga in layman's terms, and her hilarious explanation has gone viral with over 3 million views, garnering thousands of amused reactions - including one from the world's richest person.
This video will probably not help you understand the GameStop saga any better, but it will definitely make you chuckle. "a normal person explains what's happening on the stock market," she wrote while sharing the clip. Watch it below:
Since being posted a day ago, Ms Penrose's rambling piece on "hedges around houses" and "people who have a lot of money" has racked up over 96,000 'likes', 15,000 retweets and more than 3 million views - with the numbers rising steadily.
Among those who 'liked' the video was Elon Musk. The billionaire entrepreneur and world's richest person also dropped a hilarious comment.
And went on to plug Tesla's red satin shorts - which were originally designed to mock short-sellers who borrow and then sell stock, hoping for a decline in price so they can buy it back at a cheaper rate and make a profit.
Elon Musk wasn't the only one amused by the video. Take a look at some of the other reactions it has received:
If you would like a simpler explanation on the GameStop story, that was also provided:
What do you think? Let us know using the comments section.
