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Wall Street was the real winner of the GameStop saga

economist.com

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Re: Wall Street was the real winner of the GameStop saga

#111

Post by odonnellryan »

kasey_junk wrote: post #55
goldnugget92 wrote: post #29

Earlier quoted context omitted.

They have? Blackrock just added 10% to their stake recently. Not to mention the former-Amazon staff that GameStop is hiring along with the header of BlockChain at Microsoft mentioning working with GameStop on their new NFT Market Place. Don't just get your news from Bloomberg or CNN.

Blackrock and Vanguard own GME because they operate the biggest S&P ETFs and mutual funds. GME has increased its percentage of the S&P because retail investors have bought the position. Blackrock is not taking a position that a short squeeze is possible they are just reacting to the index.

GME isn't in the SPX

Re: Wall Street was the real winner of the GameStop saga

#113

Post by dfxm12 »

olladecarne wrote: post #90

Why is the financial media so obsessed with Gamestop? It's a relatively tiny company and if it truly was the case that it is over they would have stopped talking about it. Instead they publish fear-mongering articles and hit pieces on people like Keith Gill who was just a normal person seeing a value investment and got lucky. hint: http://www.paulgraham.com/submarine.html

I can't speak for financial media at large, but I think this particular article makes it obvious that it is a review of the new book The Revolution That Wasn't by Spencer Jakab.

Re: Wall Street was the real winner of the GameStop saga

#114

Post by malloryerik »

olladecarne wrote: post #90

Why is the financial media so obsessed with Gamestop? It's a relatively tiny company and if it truly was the case that it is over they would have stopped talking about it. Instead they publish fear-mongering articles and hit pieces on people like Keith Gill who was just a normal person seeing a value investment and got lucky. hint: http://www.paulgraham.com/submarine.html

It's the kind of thing that screams that you're nearing the top of a bull market, or of a bubble.

In 2007 it was waiters and the unemployed buying million dollar homes.

In 1720 it was people ploughing their life savings into the South Sea Company though they freely admitted they had no clue what it was (understandable, since it was not much of anything). But many HODLed until it all came crashing down.

https://en.wikipedia.org/wiki/South_Sea_Company#Top_reached

Re: Wall Street was the real winner of the GameStop saga

#115

Post by kasey_junk »

odonnellryan wrote: post #111
kasey_junk wrote: post #55

Earlier quoted context omitted.

Blackrock and Vanguard own GME because they operate the biggest S&P ETFs and mutual funds. GME has increased its percentage of the S&P because retail investors have bought the position. Blackrock is not taking a position that a short squeeze is possible they are just reacting to the index.

GME isn't in the SPX

They are in sp400 which also makes them a constituent of sp1000.

Further they are in sptmi which massive etfs like vanguards vti & blackrocks itot are benchmarked against st.

Re: Wall Street was the real winner of the GameStop saga

#117

Post by dfxm12 »

1_player wrote: post #19

It's just a matter of time before some company insider is paid to manipulate their employers' stock through the power of the /r/WallStreetBets self-defined autists. Companies use social media for astroturfing and viral marketing, why not market manipulation?

John Mackey himself used a burner account on Yahoo finance message boards to talk trash on Wild Oats to try and lower their stock price before Whole Foods acquired them in the mid 00s.

chron.com/business/article/Whole-Foods-CEO-used-fake-name-to-knock-rival-1830788.php

Re: Wall Street was the real winner of the GameStop saga

#118

Post by shlant »

ashurov wrote: post #99
shlant wrote: post #86

Earlier quoted context omitted.

yep. "time will tell" meaning GME ideologues will continue to move the goalpost for when the MOASS will happen in perpetuity.

I don't necessarily believe in MOASS happening anymore, but I do have a strong believe that introducing an NFT marketplace and what else GME has in store will make sure the long term view for this company is optimistic. Wallstreet might have "won", but it seems that SEC is introducing new bills to prevent some of the stuff that was going on.. Hopefully they will start enforcing it as well.

a company shoehorning in NFT's is not a "long term" plan, it's a dying brand capitalizing on the latest craze that will almost certainly die out alongside it.

Re: Wall Street was the real winner of the GameStop saga

#119

Post by cirgue »

netcan wrote: post #17

$GME was always going to be a "Revolution That Wasn’t." Almost everyone playing knew it. IMO, it was kind of an exemplifier of postmodernism, used colloquially. All the "beat down hedgies" stuff was just part of the game, just like "fuck the fundamentals" was part of the game. IMO it has had an influence. A neurotic, dramatic lens through which we can look at financial institutions, more abstract economics. What is c…

WSB started as a canard to get more drunk tourists to the small stakes poker tables, in this analogy the poker table is low volume options where you can get a handful of robinhood investors to move the price and make a quick thousand bucks. It’s still that today, but larger players with more money figured out that they could do that too, and potentially on a larger scale. That’s what this has always been about. There’s no movement, there’s no postmodern narrative, it’s just a bunch of people pumping and dumping and using the “movement” thing as a fig leaf.

Re: Wall Street was the real winner of the GameStop saga

#120

Post by SteveNuts »

odonnellryan wrote: post #110
ashurov wrote: post #99

Earlier quoted context omitted.

I don't necessarily believe in MOASS happening anymore, but I do have a strong believe that introducing an NFT marketplace and what else GME has in store will make sure the long term view for this company is optimistic. Wallstreet might have "won", but it seems that SEC is introducing new bills to prevent some of the stuff that was going on.. Hopefully they will start enforcing it as well.

Why will an NFT marketplace do any of those things?

Valve essentially stopped making games because selling virtual items is so insanely profitable. Being able to sell digital rights to items and then take a sellers fee no matter what platform that item is resold on later could be a huge deal, if that's what they're building.
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