I mean, he isn't wrong. There are actual forces behind market pricing. I could bore everyone with the details, but that'd be a waste of my time and those of you who read it.
Even $GME is technically not gambling, because the short squeeze is real. That's what gives it the value. Independent of moralistic virtue signaling, the $GME stock is a high risk, high reward position at the moment. If the price holds, Melvin Capital and all the rest will have to close out their shorts and push it to the stratosphere. That's what the price is based off - WSB aren't the only people pumping money into that stock. The major Gamestop holders aren't selling up either - they aren't stupid, they know that if this holds, they'll have more money than their wildest dreams as all the short positions are closed out.
Still, this whole incident isn't exactly free market, is it? Blocking buys and forcing sells to help Melvin + Citron? Is that what the stock market is now? Once you start fucking with the results, it's not even finance anymore. This isn't what stock trading is supposed to be and I'm ashamed of being part of the financial sector for the first time in my life.
$GME to $400 by close of trade tomorrow, we can do it.
We like the stock!
I mean, he isn't wrong. There are actual forces behind market pricing. I could bore everyone with the details, but that'd be a waste of my time and those of you who read it.
Still, this whole incident isn't exactly free market, is it? Blocking buys and forcing sells to help Melvin + Citron? Is that what the stock market is now? Once you start fucking with the results, it's not even finance anymore. This isn't what stock trading is supposed to be and I'm ashamed of being part of the financial sector for the first time in my life.
$GME to $400, we can do it.