GameStop stock

Nature of the beast. What a time to be alive.

 

If you ever needed proof that the stock market had zero connection to reality and a whole lot in common with the Vegas strip.

 

It's got elements of both.

“In the short run, the market is a voting machine but in the long run, it is a weighing machine.” - Ben Graham

 

The smart money will. LOL.

 

I'm enjoying the fact that they played the same game the "institutional investors" play by artificially pushing stock prices around... and sticking it to the institutional investors.

These hedge fund folks play with companies' futures with little regard for the companies... and walk away with their pockets full. PE people aren't any better, they just usually play a little longer term.

 

This just proves what I've thought for years, that the stock market is nothing but a big Ponzi scheme that our whole world economy depends on. It's quite stupid and scary.

 

Talked to an old friend from home today who I've known since we were 4 years old. He made nearly $10k in 24 hours on it between lunch on Monday and Tuesday afternoon. Only people losing right now were betting on it to lose. Friday should be a big day. I saw that hedge funds lost $14 billion today on it. More than $20 billion this month.

 

Almost like the whole system is a house of cards...

 

The stock and money making part is just the stick. Really, the exercise is using that stick to ruffle golden "untouchable" feathers and see what happens. Can I do as others do or is it a tale of two societies?


The last day or two has been a bit of a media frenzy in the business press against these rapscallions. This afternoon the chat server (Discord) for wallstreetbets banned them citing "hate speech" and stating publicly that it had nothing to do with the GME stock....lol. Then, the subreddit was also infiltrated with bots and went private then shut down for a few hours but is now back.


Get the popcorn going, maybe ripples, maybe waves, either way something is happening.

 

Billionaires today maybe inmates this time next year. Better buy that party mansion and live it up now...

https://www.reuters.com/article/gamestop-regulator-idUSL4N2K246P

 

And here I am kicking myself for farting around here and not on Reddit.

These boomers are useless!*

*Except when I need to know how to troubleshoot tube amps, or how to generally do anything physically technical or guitar related. Or advice on most anything else, really.

 

I hear Tulips are gonna be really big.

 

I was hoping for at least one comment like that.

 

This explainer video describes what happened...

 

The first comment is a gapminder statement and only true for a portion of finance. The second nails it. It still makes sense and is vital to invest. For many it's the only way to stay ahead of averages and medians.

 

No GI Joe with the Kung Fu grip.

 

They looked for a stock heavily shorted, then they got people online to buy it and the price of the stock went up, this screws the shorts.
I'm enjoying all of it... schadenfreude.

 

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It's basically the Goliath and David story, agitated by Big Media cries to regulate/jail the independent David investors and the forum(s) they are using.

"If a hedge fund shorting a stock can put out a presentation and video about why a company is bad, why can’t random people talking to each other on the internet talk about why a company is good?"

"What I think is happening is that you guys are making such an impact that these fat cats are worried that they have to get up and put in work to earn a living...Some of these guys [who] traditionally used the media as a tool for them to manipulate the market have failed to further line their pockets and now want to accuse you guys as being manipulators."

https://www.vox.com/the-goods/22249458/gamestop-stock-wallstreetbets-reddit-citron


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great story

organizing demand, eh?