Love it, but you know Wall Street is working with McKinsey right now to figure out a way to astroturf WSB and create this kind of situation for their benefit.
I'd be surprised if that hasn't already happened. I think that's exactly what the Tesla run last year was.
The difference is Tesla has the blessing of the Jim Kramer's of the world because it's top down and controlled speculation. It's tech fetishization of a shitty car company and a guy that memes.
Gamestop pumping is both speculative from a bunch of randos online at the expense of hedge funds, which sell their acumen as reasons to invest. If Reddit can take out a few hedge funds it will throw chaos into the expertise market.
This is glorious.
wont matter, if it gets astroturfed they'll just make /r/realwallstreetbets. people will know when their shit gets taken over by the amount of cash they're pulling.
critical support for the only half class conscious unwashed masses betting against the system
I'm sure they can just scrape the comments and find a way to profit off of the subreddit's sentiment, but yeah I can't wait to see companies start turfing operations and game the subreddit
full support for our comrades at WSB. they may be problematic but this is nothing short of a proletariat sting operation
they tagline is literally 4chan with a bloomberg terminal
and yet they have infinite brain power compared to 4chan's actual investment board
WSB is accelerationism as the term was originally coined. Upping the contradictions using the machinery itself.
It's just pure internet Posting energy and I love it, ableism aside. Can't wait for hedge fund managers to start calling proles the r-word or something.
"Our recovery this quarter was r-tarded, no pun intended"
EDIT: Dumb filter, it's not just a slur, it's a legit word >:(
lol reddits gonna ban this shit, you'll see. these fuckers will be the death of reddit, and i think it's great.
excuse me I took econ 101 and I'll have you know markets are composed of
R A T I O N A L A C T O R S
I mean, WSB acted rationally to maximise their profits. Capitalism is so good that it shits itself even under the best conditions.
what the fuck even is capitalism? 3.3 billion lost because reddit was memeing? Goddamn.
the most stable progressive and sensible form of arranging a populace for mutual betterment.
obviously.
I think Trashfuture pod has probably the best coverage of "what the fuck even is capitalism" with respect to THE LINE, that is the stock market (or rather the value of a company) has become increasingly detached from underlying value of company itself (it's assets, production, profit, etc.) and more into the realm of speculation. Thus you end up with things like Tesla being one of the most valuable (by market cap) car companies in the world when its fleet production is like 1/10th of the least valuable car company, or shit like Signal (The medical company) stock skyrocketing after the WhatsApp announcement, not because some random medical company has become more valuable but because of the expectations that other people will buy it so why not make a purchase anyway.
Anyway, 10/10 would recommend listening to
WallStreetBets members chided Left with memes and derogatory comments.
Wait why what did we do
Andrew Left of Citron Research, one of Wall Street's most outspoken GameStop shorts, said on Friday that he would no longer comment on the stock.
oh
It's amazing that Jim Cramer still has a career after 2008.
He gets paid to say 'Things are looking good BUY BUY BUY' he doesn't have any kind of actual expertise. He's basically Dr. Fauci but for the market, just someone who is there to soothe the boomers.
I just can't imagine being the kind of person who watches CNBC and thinks it's good market info that they should sometimes act upon. Like, they think they're informed about the market from that, a public channel that anybody with cable has access to. Yeah, you're really getting that insider scoop from fucking CNBC, home of Shark Tank.
Love the absolutely absurd levels of Cope as people desperately try to cling to their delusion that sums of money this large have any actual meaning.
Yeah, it's kind of weird for me to see people on Chapo chat revering the money and the assholes making it, rather than going with the obvious "this shows how dumb money is" take.
I dont understand this take, what is dumb about money in this case?
Nothing of any value is being produced by any of this nonsense. The entirety of this whole saga has created less value than a person who cooked a single hamburger, but that person gets paid $7.25 an hour, and these jabronis are becoming millionaires overnight. Money is stupid.
