This is also a great opportunity to talk to people you know to make the point "stocks aren't the actual economy, a bunch of redditors can drive up a stock price like this off gamestop doing nothing differently. This is essentially what the financial sector does to make money at this point."
To me its akin to how the financial times can be more forthwith with news as their goal is to inform the ruling class rather than manage the working class
it's not detached from reality at all, it's the fundamentals of how shorting a stock works.
a TON of people shorted gstop. When the price increased, they were forced to cover by their broker, which drove the price up further, which forced others to cover, etc. This happened to Volkswagen back in 2008.
now the whole system itself is detached from the physical reality of our planet, sure. But nothing about gamestop is detached from the reality of how the stock market works.
This is hilarious.
This is also a great opportunity to talk to people you know to make the point "stocks aren't the actual economy, a bunch of redditors can drive up a stock price like this off gamestop doing nothing differently. This is essentially what the financial sector does to make money at this point."
Multiple investment newspapers have said the same thing straight up "this is an example of a stock that is detached from reality"
They're so close.
To me its akin to how the financial times can be more forthwith with news as their goal is to inform the ruling class rather than manage the working class
Yeah really strange how this one isolated thing can be "detached from reality" in our otherwise perfect and rational system
Same people looking at TSLA stock: "This is normal"
it's not detached from reality at all, it's the fundamentals of how shorting a stock works.
a TON of people shorted gstop. When the price increased, they were forced to cover by their broker, which drove the price up further, which forced others to cover, etc. This happened to Volkswagen back in 2008.
https://static.seekingalpha.com/uploads/2011/9/1/761622-131486118267016-Nicu-Mihalache_origin.png
now the whole system itself is detached from the physical reality of our planet, sure. But nothing about gamestop is detached from the reality of how the stock market works.