GameStop Is Rage Against the Financial Machine

Post by andoriyu » Wed, Jan 27, 2021, 10:23 PM UTC

onion2k wrote: post #412

blhack wrote: post #57

Okay a serious question: at what point does it make sense for these hedge fund guys to just purchase reddit and shut it down? To be clear: I don't think that would work, but I think we're at the point where stuff like that is going to be tried. These guys are losing BILLIONS of dollars. Billions. Can they spend $1B to prevent the loss of $2B? (Is reddit worth more than $1B?) Other stuff I won't be surprised if we see…

It would be much cheaper just to pay some kids to make nice looking but ultimately loss making bets on there. If WSB looks like a place where people go to lose money then it's popularity will drop.

Post by city41 » Wed, Jan 27, 2021, 10:24 PM UTC

VectorLock wrote: post #357

AdmiralAsshat wrote: post #20

> These points doubtless make me appear to be a complacent shill for the financial industry, talking down to the rubes. For the record, I’m still angry about the way workers were ripped off in Britain more than three decades ago, and about the way the little guy ended up bearing the brunt for the financial implosions of 2000 and 2008. But it looks horribly to me as though the same thing is going to happen again — and…

>As best I can figure, most of the /r/ guys are doing this as a form of trolling and aren't expecting to get rich off it or pour their live-savings into it. I saw a lot of those "pour their life-savings" into it postings. A lot of "yacht or food stamps" type sentiments being shared.

Post by vincentmarle » Wed, Jan 27, 2021, 10:25 PM UTC

dannyw wrote: post #33

ping_pong wrote: post #4

It's really not. Because eventually retail is going to get destroyed. Yes, some hedge funds have lost their shirts, but those are the first ones who were in the short before the squeeze. The hedge funds and more importantly day trading shops making money right now are the ones who saw the activity and are goosing the stock price right now. I don't know if people realize that there are thousands of day trading shops w…

You underestimate just how much concentrated retail volume is. I have had more than ten people ask me how to buy GME. Its on the front page of everything. Bitcoin’s nearly $1T market cap is more or less all retail. Plenty of WSB posts with multi million positions. Disclosure: I long GME.

Post by AznHisoka » Wed, Jan 27, 2021, 10:27 PM UTC

wesammikhail wrote: post #391

ta1234567890 wrote: post #384

This is a great example of how the stock market is not about fundamentals, just like Bitcoin, it’s all about popularity and perception. In the end, people don’t care if the “stock is really worth” the price, they only care if themselves or someone else are willing to pay the price, nothing else really matters.

You´re right in the short term. But in the long term the hope is that things average out and true value emerges as a function of countless transactions over years and years. Markets are a value ascribing heuristic machine. There is nothing about them that can deterministically point to objective value. However, the idea is that over a longer period of time, an approximation of true value emerges though wisdom of the…

Post by [deleted] » Wed, Jan 27, 2021, 10:27 PM UTC

hntrader wrote: post #382

I'd like to know whether these retail investors see Gamestop as artwork or as speculation/investment. Artwork - they buy it not because of any intrinsic value or expectation of a dividend/capital gain, but because of reasons pertaining to subjective utility - childhood nostalgia, a desire to get symbolic revenge at hedge funds, entertainment value, or a desire to access gambling services in a country where online gam…