Full title: STILL NOT SELLING!!! CAR DIED TODAY WHEN THE TRANSMISSION BLEW. I HAVE A TERRIBLE CREDIT SCORE, NO CASH ON HAND, AND ALMOST 16K OF AMC/APE SHARES. I NEED A NEW CAR. I'LL FIGURE IT OUT 💎🙌

Source: https://www.reddit.com/r/amcstock/comments/xbrfkf/still_not_selling_car_died_today_when_the/

Archived: https://archive.ph/wip/Irn2E

OP: https://www.reddit.com/user/SoffTako

OP's only subreddit which is just them begging Elon Musk for $2000 in the sidebar without actually tagging Musk in any way: https://www.reddit.com/user/sofftako/m/elon_musk_please_help/

  • invo_rt [he/him]
    ·
    2 years ago

    They do know the point of stonks is to eventually actually sell them, right?

    :lenin-sure:

    • betelgeuse [comrade/them]
      ·
      2 years ago

      No they don't. They think you're supposed to hold them forever until they're worth $42069 a share and by that time you don't have to sell because Elon will make you rich with dogecoin, that you also never sell.

      Isn't it weird how these people found the exact strategy that makes fintech companies rich? Buy stocks when nobody wants them so you get extra kickback from wholesalers, then hold them forever so you can lend out their money. Totally a coincidence that internet strangers pushed meme stocks and told a generation of new retail traders how to give away their money.

    • Fdos [none/use name]
      ·
      2 years ago

      The Sage of Omaha has said that his favorite amount of time to hold stocks is "forever".

      You can borrow against their value if you need cash. But wealthy people don't need that much cash. You sure do if you drive a junker like that, though.

      • RedDawn [he/him]
        ·
        2 years ago

        Buffet himself famously drives some shitty old car doesn’t he? At least that’s part of his PR schtick

      • zifnab25 [he/him, any]
        ·
        2 years ago

        The Sage of Omaha has said that his favorite amount of time to hold stocks is “forever”.

        This presumes his analysis at time-of-purchase continues to be correct over an indefinite timeline. Which is sort of like saying "I like to hold stocks that go up". You do, eventually, need to sell the equity in order to re-balance your portfolio (when a stock appears overvalued relative to the market) or simply to spend the money. Also to do shit like pay off your friends in the Senate or send kickbacks to your cronies in the bureaucracy.