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Reddit's GameStop, AMC surge is the new Occupy movement

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Re: Reddit's GameStop, AMC surge is the new Occupy movement

#191

Post by ashtonkem »

NullPrefix wrote: post #140
Tenoke wrote: post #108

Earlier quoted context omitted.

This comparison is unfair. The cost of just the first stimulus checks was ~269b[0] and the second ~ $464b[1] and these are the lower estimates I've seen. For comparison the 2008 bailout cost ~498b[2][3], possibly less after the government made some of it back. So no, the government isnt spending more on bailouts for the rich than on covid relief for the rest. 0. https://www.pgpf.org/blog/2021/01/what-to-know-about-th…

>government made some of it back Government or the people working for the gorvernment?

Government.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#192

Post by supernovae »

simonh wrote: post #172
newacct583 wrote: post #157

Earlier quoted context omitted.

Yeah. It's market manipulation from every angle and every party right now. All the crowing about "sticking it to the man" is almost certainly prosecutable as securities fraud. And yes, the folks holding the early shorts either have financing available to hold until it comes down or have transferred the position to someone who does. The people holding the bag at the end of this are indeed going to be individual invest…

Right, once the stock actually collapses and drops way below it's trend price, those holding the shorts and expecting to make a few bucks on them will end up making an absolute killing. Sticking it to the man my arse.

All they need to do is beat the current calls that mature this friday. There are an ungodly amount of shorts about to mature...

The big issue, is that the shorts on GME surpass the total outstanding shares... Melvin went 140% short on GME and they should pay the price for that stupidity.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#193

Post by milesvp »

Hamuko wrote: post #176
falcolas wrote: post #114

Earlier quoted context omitted.

It seems like a perfectly fine one to me. It's a signal that alerts us to a lack of attention to detail in assembly. For doors, it's not a deal breaker, but for the electronics installation or windows or brakes, a lack of attention to detail can be catastrophic.

They definitely had issues with the central screens bricking because of the eMMC failing due to excessive writes.

This is my current nightmare. I’m writing firmware for a flash chip for a consumer product and I’m totally paranoid about getting into some situation that triggers enough writes to brick the item :(

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#194

Post by ASalazarMX »

Remember when Tesla, back in 2019, was featured in frequent news articles as doomed and failing, and there was even talk about replacing Elon because he was unstable? It was the same bullshit, some people wanted cheap Tesla stocks and went as far as buying misinformation-as-a-service.

Funny how starting 2020, Tesla was awesome and a solid investment again. I guess some people are too impatient to wait for stocks to bring profits the way they were meant to.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#195

Post by throwaway894345 »

totalZero wrote: post #151
Hamuko wrote: post #98

Earlier quoted context omitted.

I've never really seen a Tesla charging station, so I don't really have any feelings about it. I've heard that there are nine of them in the country.

What country? I've seen Tesla chargers at more than nine gas stations here on the east coast. I drive a lot of highways. Sometimes it's just one or two, sometimes it's a row of several. It certainly does seem like there are hundreds of Supercharger stations in the US.

I don't think I've ever seen one, and I live in one of the largest US cities. Granted, I'm sure they're around, and I'm not carefully looking for them, but they're far from ubiquitous around here.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#196

Post by totalZero »

tomp wrote: post #88
Hamuko wrote: post #34

Earlier quoted context omitted.

> I'm tired of fake Economics where the value of a company or the product is not made from the real value of it I still don't understand how Tesla is valued so high when they're still figuring out panel gaps.

Because the rest of car companies are still figuring out that they even should be figuring out electric.

The other car companies have been researching and investing in EVs, emerging battery chemistries, and autonomous driving for over a decade. At their scale, they can't exactly build a business on 500k vehicles per year. That doesn't mean they aren't poised for market entry as the infrastructure matures and demand grows.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#197

Post by supernovae »

_ea1k wrote: post #183
xyzzyz wrote: post #65

Earlier quoted context omitted.

So does Toyota, which makes more things that more people want to buy, and yet is only valued at a quarter of Tesla.

I feel like the questions around Tesla's valuation are two-fold. The question as to why Tesla is so high is obvious, but the secondary question is why are existing automakers so low? Why is the market cap for existing automakers lower than total revenue?

Stocks are ONLY worth what people will pay for it. People pay for TSLA because they want TSLA. They don't want Ford or GM because those companies are failing to create demand and failing to generate products people want to invest in.

Institutional investors bet against TSLA and TSLA retail stock holders kicked them back.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#198

Post by ashtonkem »

ta1234567890 wrote: post #44
ashtonkem wrote: post #19

Earlier quoted context omitted.

Be careful what you wish for. The upper classes tend to recover from these crashes much more rapidly than the lower classes do.

Bailouts for big companies owned by the rich, $2k paycheck (if lucky) for the rest.

Much ink has been spilt on both these disasters, a lot of it completely dishonest. Regardless of government actions, K shaped recoveries appear to be fairly typical for this society and this era; one should expect that the upper classes will recover quicker and better than the lower classes. Cheering on financial collapse in order to hurt the rich is a great example of cutting off your nose to spite your face; most of the pain will be felt the strongest and longest by those you are nominally rooting for.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#199

Post by matthewbauer »

avidphantasm wrote: post #39
djoldman wrote: post #13

Earlier quoted context omitted.

1. There isn't any one entity that is short 140% of the GME float. 2. If a stock shouldn't be allowed to be sold short past 100% then we should outlaw subletting apartments. Why shouldn't someone be allowed to pay to borrow something, and then rent it out? How is that manipulative in and of itself?

Can anyone explain what utility, to the real economy, that short selling stocks provides? Practically speaking, why is shorting useful? What problems in the financial system does it solve. Asking in earnest.

In theory, it can lessen volatility since traders can bet against overvalued companies in the same way they can invest in undervalued companies. In practice, I'm not so sure if this is really how short selling works, since "the market can remain irrational longer than you can remain solvent". I do think a world without any short selling would have much more frenzied boom / bust cycles though.
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