Research Article
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Storytelling and Visual Designs in Collective Movements: The Case of GameStop 2021

Year 2023, Volume: 20 Issue: 53, 354 - 363, 30.05.2023
https://doi.org/10.26466/opusjsr.1252483

Abstract

Interactive media involve the process of evaluating information flows by users, following which a chain reaction is initiated among various perspectives on the relevant topic. Dominant views arise as a consequence of the process of memetic selection. These feedbacks gain a visual form through posters, "memes," and illustrations designed by anonymous users. These designs are critically important in maintaining and storytelling of a social movement. In this article, the function of visual designs in storytelling processes is discussed in the context of collective movements. In this context, a recent financial conflict, known in the literature as “The Case of GameStop 2021" which is a recent social movement, has been taken as sample. Study is based on the “case study research method” a type of qualitative research method. The data used was obtained from a social media group actively involved in individual investing and data providers in the investment sector. With this data, the correlation between the two variables was investigated. My findings suggest that these visual designs were utilized as a means of impact in the relevant financial struggle and successful results were achieved. It has also been found that these visual designs can form the main outlines of a collective storytelling process.

References

  • Betzer, A., & Harries, J. P. (2022). How online discussion board activity affects stock trading: The case of GameStop. Financial Markets and Portfolio Management, 36(4), 443-472.
  • Bietti, L. M., Tilston, O., & Bangerter, A. (2019). Storytelling as adaptive collective sensemaking. Topics in Cognitive Science, 11(4), 710-732.
  • Blackwell, C. W., & Dué, C. (2009). Homer and History in the Venetus A. Recapturing a Homeric Legacy: Images and Insights from the Venetus A Manuscript of the Iliad, 1, 18.
  • Bursztynsky, J. (2021, January 27). GameStop jumps after hours as Elon Musk tweets out Reddit board that's hyping stock. CNBC. https://www.cnbc.com/2021/01/26/gamestop-jumps-as-elon-musk-tweets-out-reddit-board-thats-hyping-stock.html
  • Chielens, K., & Heylighen, F. (2005). Operationalization of Meme Selection Criteria: Procedures to empirically test memetic hypotheses. In Proceedings AISB.
  • Cover, R. (2006). Audience inter/active: Interactive media, narrative control and reconceiving audience history. New Media & Society, 8(1), 139-158.
  • Debita, G. (2017). The Re-Emergence of Medieval Authorship Models in Contemporary Genres. Cultural Intertexts, 7(7), 104-123. de Saint Laurent, C., Glăveanu, V. P., & Literat, I. (2021). Internet memes as partial stories: Identifying political narratives in coronavirus memes. Social Media+ Society, 7(1), 2056305121988932.
  • Fairbairn, G. (2013). Changing the World through the Stories We Tell. In G. Fairbairn (Ed.), The Many Facets of Storytelling: Global Reflections on Narrative Complexity (pp. 1-11). Brill.
  • Fox, M. B., Glosten, L., & Rauterberg, G. (2019). The new stock market: Law, economics, and policy. Columbia University Press.
  • Goldstein, M., & Kelly, K. (2022). Melvin Capital, hedge fund torpedoed by the GameStop frenzy, is shutting down. The New York Times. https://www.nytimes.com/2022/05/18/business/melvincapital-gamestop-short.html
  • Hasso, T., Müller, D., Pelster, M., & Warkulat, S. (2022). Who participated in the GameStop frenzy? Evidence from brokerage accounts. Finance Research Letters, 45, 102140.
  • Jenkins, H., & Deuze, M. (2008). Convergence culture. Convergence, 14(1), 5-12.
  • Koning, A. J. (2015). The Famous and Their Followers: Fanfiction as an Alternative Form of Literary Criticism (Bachelor's thesis).
  • Loewenstein, M. (2022). Short Squeeze, GameStop, the Common Law and a Call for Regulation. GameStop, the Common Law and a Call for Regulation, 50.
  • Moon, S., Bergey, P. K., & Iacobucci, D. (2010). Dynamic effects among movie ratings, movie revenues, and viewer satisfaction. Journal of Marketing, 74(1), 108-121.
  • Niekerk, A. A. (2020). Building the future in the 21st century: In conversation with Yuval Noah Harari. HTS Teologiese Studies/Theological Studies, 76(1).
  • Nicolaisen, W. F. H. (1990). Why Tell Stories? Fabula, 31(1-2), 5-10. doi:10.1515/fabl.1990.31.1-2.5
  • Pearl, J., & Mackenzie, D. (2018). The book of why: The new science of cause and effect. Basic Books.
  • Şimşek, A. (2012). Sosyal bilimlerde araştırma yöntemleri. A. Şimşek. Evren ve Örneklem, 108-133.
  • Vasileiou, E., Bartzou, E., & Tzanakis, P. (2021). Explaining Gamestop Short Squeeze using Ιntraday Data and Google Searches. Available at SSRN 3805630.
  • Weissenfeld, K., Abramova, O., & Krasnova, H. (2017). Understanding storytelling in the context of information systems.
  • Yin, R. K. (2009). Case study research: Design and methods (Vol. 5). Sage.

Toplumsal Hareketlerde Hikaye Anlatımı ve Görsel Tasarımlar: GameStop 2021 Örneği

Year 2023, Volume: 20 Issue: 53, 354 - 363, 30.05.2023
https://doi.org/10.26466/opusjsr.1252483

Abstract

Etkileşimli medyadaki bilgi akışları kullanıcılar tarafından değerlendirilmekte ve ilgili konuya dair çeşitli düşünceler arasında bir tepkime başlamaktadır. Böylece memetic bir seçilimin sonucunda “baskın görüşler” oluşmaktadır. Bu geri bildirimler anonim kullanıcıların tasarladığı poster, “meme” ve illüstrasyonlar sayesinde görsel biçim kazanmaktadır. Bu tasarımlar toplumsal bir hareketin sürdürülmesinde ve hikayeleştirilmesinde kritik öneme sahiptir. Bu makalede, görsel tasarımların hikayeleştirme süreçlerindeki işlevleri, kolektif hareketler bağlamında ele alınmıştır. Bu kapsamda yakın döneme ait toplumsal bir hareket olan ve literatüre “2021 GameStop Olayı” olarak geçen finansal bir mücadele, örneklem olarak ele alınmıştır. Çalışma nitel araştırma yöntemlerinden biri olan "vaka çalışması" yöntemi üzerine kuruludur. Kullanılan veriler, bireysel yatırımcılık alanında aktif olan bir sosyal medya grubundan ve yatırım sektöründeki veri sağlayıcılarından elde edilmiştir. Bu veriler sayesinde iki değişken arasındaki korelasyon araştırılmıştır. Bulgular, bu görsel tasarımların ilgili finansal mücadelede bir etki aracı olarak kullanıldığını ve başarılı sonuçlar elde edildiğini göstermektedir. Aynı zamanda bu görsel tasarımların kolektif bir hikayeleştirme sürecinin ana hatlarını oluşturabildiği tespit edilmiştir.

References

  • Betzer, A., & Harries, J. P. (2022). How online discussion board activity affects stock trading: The case of GameStop. Financial Markets and Portfolio Management, 36(4), 443-472.
  • Bietti, L. M., Tilston, O., & Bangerter, A. (2019). Storytelling as adaptive collective sensemaking. Topics in Cognitive Science, 11(4), 710-732.
  • Blackwell, C. W., & Dué, C. (2009). Homer and History in the Venetus A. Recapturing a Homeric Legacy: Images and Insights from the Venetus A Manuscript of the Iliad, 1, 18.
  • Bursztynsky, J. (2021, January 27). GameStop jumps after hours as Elon Musk tweets out Reddit board that's hyping stock. CNBC. https://www.cnbc.com/2021/01/26/gamestop-jumps-as-elon-musk-tweets-out-reddit-board-thats-hyping-stock.html
  • Chielens, K., & Heylighen, F. (2005). Operationalization of Meme Selection Criteria: Procedures to empirically test memetic hypotheses. In Proceedings AISB.
  • Cover, R. (2006). Audience inter/active: Interactive media, narrative control and reconceiving audience history. New Media & Society, 8(1), 139-158.
  • Debita, G. (2017). The Re-Emergence of Medieval Authorship Models in Contemporary Genres. Cultural Intertexts, 7(7), 104-123. de Saint Laurent, C., Glăveanu, V. P., & Literat, I. (2021). Internet memes as partial stories: Identifying political narratives in coronavirus memes. Social Media+ Society, 7(1), 2056305121988932.
  • Fairbairn, G. (2013). Changing the World through the Stories We Tell. In G. Fairbairn (Ed.), The Many Facets of Storytelling: Global Reflections on Narrative Complexity (pp. 1-11). Brill.
  • Fox, M. B., Glosten, L., & Rauterberg, G. (2019). The new stock market: Law, economics, and policy. Columbia University Press.
  • Goldstein, M., & Kelly, K. (2022). Melvin Capital, hedge fund torpedoed by the GameStop frenzy, is shutting down. The New York Times. https://www.nytimes.com/2022/05/18/business/melvincapital-gamestop-short.html
  • Hasso, T., Müller, D., Pelster, M., & Warkulat, S. (2022). Who participated in the GameStop frenzy? Evidence from brokerage accounts. Finance Research Letters, 45, 102140.
  • Jenkins, H., & Deuze, M. (2008). Convergence culture. Convergence, 14(1), 5-12.
  • Koning, A. J. (2015). The Famous and Their Followers: Fanfiction as an Alternative Form of Literary Criticism (Bachelor's thesis).
  • Loewenstein, M. (2022). Short Squeeze, GameStop, the Common Law and a Call for Regulation. GameStop, the Common Law and a Call for Regulation, 50.
  • Moon, S., Bergey, P. K., & Iacobucci, D. (2010). Dynamic effects among movie ratings, movie revenues, and viewer satisfaction. Journal of Marketing, 74(1), 108-121.
  • Niekerk, A. A. (2020). Building the future in the 21st century: In conversation with Yuval Noah Harari. HTS Teologiese Studies/Theological Studies, 76(1).
  • Nicolaisen, W. F. H. (1990). Why Tell Stories? Fabula, 31(1-2), 5-10. doi:10.1515/fabl.1990.31.1-2.5
  • Pearl, J., & Mackenzie, D. (2018). The book of why: The new science of cause and effect. Basic Books.
  • Şimşek, A. (2012). Sosyal bilimlerde araştırma yöntemleri. A. Şimşek. Evren ve Örneklem, 108-133.
  • Vasileiou, E., Bartzou, E., & Tzanakis, P. (2021). Explaining Gamestop Short Squeeze using Ιntraday Data and Google Searches. Available at SSRN 3805630.
  • Weissenfeld, K., Abramova, O., & Krasnova, H. (2017). Understanding storytelling in the context of information systems.
  • Yin, R. K. (2009). Case study research: Design and methods (Vol. 5). Sage.
There are 22 citations in total.

Details

Primary Language English
Journal Section Research Articles
Authors

Onur Şahin Karakuş 0000-0002-6531-6722

Early Pub Date May 31, 2023
Publication Date May 30, 2023
Published in Issue Year 2023 Volume: 20 Issue: 53

Cite

APA Karakuş, O. Ş. (2023). Storytelling and Visual Designs in Collective Movements: The Case of GameStop 2021. OPUS Journal of Society Research, 20(53), 354-363. https://doi.org/10.26466/opusjsr.1252483