Oh yeah, once the ball got rolling, the whales moved in and got their own pound of flesh.
Kind of surprised GME doesn’t try to raise capital from this runup. Guess they don’t want to be like Hertz, although Hertz was bankrupt and GME isn’t (not yet at least).
They might be worried about what the SEC might do.
You know how sometimes your AH addon will show that some random gray item has a market value of 1342421g?
I’m pretty sure the same forces are at work here.
Now the left gets to see the monster they helped big tech create over the past four years. It’s never only used against the people you don’t like. Eventually YOU become public enemy number one.
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both parties serve wall st, quit letting them divide you over pointless culture wars
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You are absolutely correct, which is why the regular people on the right have been calling it the uniparty for a while now, and have rejected almost the entire GOP. Now the left is going to get to see the exact same thing, and we may actually be able to rally together around this.
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Lol, I’m sure they already have investigators poking around; I’ll bet they’re thrilled.
Yep.
Two senators almost got re-elected despite insider trading and so far, nothing has happened to them (aside from them losing their reelections).
But a bunch of “normies” take on Wall Street and suddenly its a problem.
Nothing is gonna happen. People are too stupid, lazy, and in their own little world to care.
Unless it has a direct impact/tangible something like healthcare, taxes, social security, etc.
the majority of Americans know little about stocks or have any investments in them.
Hell the majority of Americans don’t even vote during presidential elections.
It’s a social media induced unintentional(I hope) Ponzi scheme and would be illegal if you could actually point to a specific intent and set of individuals.
As such, it’s far more likely to just result in more regulation because it’s not something that can actually prosecuted and the ponzi scheme aspect is an after effect.
It’s not just going to nuke the short sellers, it’s going to nuke anyone holding the hot potato at the end when the stock crashes.
In the meantime, it hurts other parts of wall street which means you take damage to your retirement account.
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I explained it up top. Also, it’s something that could happen to any company.
That was only part of it.
The biggest part of it was a whole bunch of people have excess income now because they can’t go and waste it and have also plenty of time are ‘gambling’ on the stock market.
And how they ‘pick’ the stocks to ‘invest’ in is based on what Elton Musk or the reddit forum ‘likes’ at the moment. Totally regardless of the actual value of the shares.
People are going to be burned so bad by this situation. For every person who makes millions, there will be 100s that lose.
Elon Musk’s older, gay brother that sings a lot.
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yeah well I don’t care for the guy - so sorry about the name
So, for the uninitiated; why is selling stock you don’t own but promise to buy a thing? Is there a legitimate purpose for it or is it solely for shorting?
I have no idea - there is that option thing too and I really can’t figure out the constructive purposes to them. Just seems like legalized stock market gambling.
Sigh.
Look, wow forums are a terrible place to discuss it, actually if you dont even know how to get into the stock exchange building you prolly know next to nothing and just gamble.
If you dont have proper knowledge and don’t know how to calculate risks you will end up with “gamble” conclusion because its all your mind can understand.
Hedge funds are from a tri-party structure which help funds mitigate collateral risk. This structure in fact helped countires around the world to have stable growth for decades. Those funds are being forced to buy gamestop which makes everything a zero sum system, once they don’t buy it anymore, because it is doing collateral damage to all market, it will drop into the oblivion.
Enough to say regulations are needed because when the structure was done and succesfully worked soo far nobody expected that minor players could work like an actual ghost and unlawful mega investor.
This happened before in england, its how george soros made over 1billion in a day. He even alerted several times this could happen in worse ways, Thing is it happened, and affected hedge funds which can lead to productive capital be fully allocated in speculative capital with low interesting rates scenario. It is really, really not pretty in the long run. A stable structure ceases existing causing mass unemployment and incredible low production at very high costs. Oh and currency also loses value so you basically don’t win anything if you don’t exchange it for another currency which hasnt been affected by this.
Drastic consequences.
They are going to halt the stocks for 30 days now, so if you lost money you lost if you gained you gained.
If you bought the stocks at a medium/high price now you lose everything.
Options are a grey area in the gambling term. The investor money is used as a pool to stocks in this case. If the options are the trend hence stocks will go down due all the variables and circumstances, stocks is transferred to them, if they are not going down the stocks grown from that pool. Its always high risk.
What are unissued shares for? If the suckers, erm, I mean investors want to buy the shares, let 'em. GME can live off the interest. lol
In pre-market right now, GME +27%, up $94 to $441 (!!!) If this isn’t a stock market bubble, nothing is. Heh heh.
k, but what productive purpose do they have, i.e. why are they even allowed and/or for what constructive reason does the process even exist.
People buy stocks to have ownership in a company as an investment - the original money paid, contributes to the companies growth, ability to do business. After that the shares are sold because having ownership has value. I don’t understand what all this ‘betting’ on future stock prices has to do with anything.
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