“Turning out to be” is a little disingenuous. It was never not worthless during its meme tenure.
Hertz, the original meme stock, is turning out to be worthless
21–30 of 326 posts
Re: Hertz, the original meme stock, is turning out to be worthless
#22Earlier quoted context omitted.
GME is not bankrupt yet (it is indeed overpriced and comparable to HRTZ), but TSLA and BTC? They don't belong to the same categories. TSLA and BTC will see a lot of gains to come. Eventually without a definite date what goes up comes down but it'd be silly to not take a piece of the pie yourself and keep your savings in cash...
At the end of the day, people are betting on what they believe (or throwing away their money for the lulz). I genuinely, no bullshit, think TSLA is more irrational than GME, and has been for years. I put my money where my mouth is and I'm up 5x in 2 weeks. I know it won't last, but hey TSLA is crashing too. Nothing lasts forever.
I agree that TSLA is irrational, and I think that this is true regardless of whether you think there are more gains to come. My impression of TSLA investors is that many of them just want to be a part of the future, and many others are trying to make money off the volatility & irrationality.
Re: Hertz, the original meme stock, is turning out to be worthless
#23Obviously? The company was bankrupt. People who bought HRTZ after bankruptcy had to have known it was a game of financial musical chairs, much like GME, TSLA or BTC.
Hit me up when BTC goes bankrupt.
Re: Hertz, the original meme stock, is turning out to be worthless
#24Earlier quoted context omitted.
GME is not bankrupt yet (it is indeed overpriced and comparable to HRTZ), but TSLA and BTC? They don't belong to the same categories. TSLA and BTC will see a lot of gains to come. Eventually without a definite date what goes up comes down but it'd be silly to not take a piece of the pie yourself and keep your savings in cash...
At the end of the day, people are betting on what they believe (or throwing away their money for the lulz). I genuinely, no bullshit, think TSLA is more irrational than GME, and has been for years. I put my money where my mouth is and I'm up 5x in 2 weeks. I know it won't last, but hey TSLA is crashing too. Nothing lasts forever.
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Re: Hertz, the original meme stock, is turning out to be worthless
#25Earlier quoted context omitted.
Those at least had a growth story. HRTZ and GME are pure plays on the other hand.
Where did you get this about GME? It literally skyrocketed once Chewy team started to take over and transform company.
Personally, I think 80% of the reason it skyrocketed was for the short squeeze, 20% because of the new team and it being undervalued if you believed in that new team. $30-$40 seems reasonable if you believe the team is gonna turn the company around IMO, but people were putting thousands and tens of thousands into shares because they're hoping the short squeeze puts it to $1k+ (at least that's the meme/not a meme if you believe WSB).
Re: Hertz, the original meme stock, is turning out to be worthless
#26Earlier quoted context omitted.
GME is not bankrupt yet (it is indeed overpriced and comparable to HRTZ), but TSLA and BTC? They don't belong to the same categories. TSLA and BTC will see a lot of gains to come. Eventually without a definite date what goes up comes down but it'd be silly to not take a piece of the pie yourself and keep your savings in cash...
BTC is not a stock so I really don't follow why people keep treating it like it has some underlying value
Like most stocks BTC's value depends on the buyers hope of a rise of the value. Buy low and sell high.
For the original function of stocks, support a company and get a share of the profit, you are right about BTC.
Re: Hertz, the original meme stock, is turning out to be worthless
#27Earlier quoted context omitted.
GME is not bankrupt yet (it is indeed overpriced and comparable to HRTZ), but TSLA and BTC? They don't belong to the same categories. TSLA and BTC will see a lot of gains to come. Eventually without a definite date what goes up comes down but it'd be silly to not take a piece of the pie yourself and keep your savings in cash...
At the end of the day, people are betting on what they believe (or throwing away their money for the lulz). I genuinely, no bullshit, think TSLA is more irrational than GME, and has been for years. I put my money where my mouth is and I'm up 5x in 2 weeks. I know it won't last, but hey TSLA is crashing too. Nothing lasts forever.
GME is going back up right now. I don’t believe it’s disenfranchised Reddit young people anymore (if it ever was?).
I guarantee there’s hedge funds who infiltrated the group playing up this one. Fictional fresh faced MBA from Jamie Diamond‘s outfit, “too the moon homie. Hold forever. They can take my wife, but not my GME. We tards are bringing down Capatalism.” (I used the T word because that the vernacular they use.)
I find it sad that the Retail naive investors will get fleeced again, but by professional billionaire trading outfits.
Re: Hertz, the original meme stock, is turning out to be worthless
#28Didn't Hertz self say, don't buy the stocks because they are worthless and we are broke?
Re: Hertz, the original meme stock, is turning out to be worthless
#29“Turning out to be” is a little disingenuous. It was never not worthless during its meme tenure.
Investors were warned this was going to be the outcome given Hertz’s financial situation.
Re: Hertz, the original meme stock, is turning out to be worthless
#30Earlier quoted context omitted.
Indeed nothing lasts forever but TSLA at least has something to show while GME's business is passé. TSLA is overpriced but at the moment it crashed and will jump back to new heights. Why not take advantage of the notoriety and make a gain yourself?
I think it's obvious that I am holding a substantial amount of GME right now, and I think I should disclose that. Ryan Cohen, the guy who founded Chewy, is on the board for GME and leading an initiative to transform Gamestop into an e-commerce store. In other words he wants to compete directly with Steam, and while many don't realize it yet, Amazon. And this is one of the only people in history who has successfully b…
Competing with Twitch is not realistic and I’m surprised you think it’s bad. Facebook and Microsoft have both spent huge sums of money trying to and failed. And both those companies have deep engineering talent which GameStop does not and it will not be trivial to compete with those companies for engineers. Plus livestream is just really expensive in terms of compute and network costs. Finally and most importantly, Twitch has more network effects than people realize with its follower/subscriber ecosystem. Streamers spend a lot of time building that audience and make more money than you might expect when they do it, so it won’t be easy to pull them away.