- Joined
- Nov 15, 2016
Whatever else the WSB people are, they're not "day traders," at least as far as $GME goes. These speds bought and plan to hold. And, remarkably, have so far done so. An error five words into an article is pretty impressive.A coordinated effort by day traders
Investors should pick stocks based on which companies they think will do well, not because they want to reward or punish market participants.
Investors are presumed to be adults wearing big boy pants. People buy into conmpanies for a great many reasons, not all of which make sense to outsiders. And how exactly do you intend to police intent when purchasing a stock, bond, option, or whatever anyways?
Yet a week ago this idiot was apparently fine and dandy with 140% of a company's float being shorted. That apparently was not manipulation?“It's not David and Goliath,” Galvin said in an interview. “It’s strictly manipulation. When you have a manipulated market it creates a bubble. That’s a danger to the entire marketplace. We’ve seen this time and time and time again, and the Securities and Exchange Commission needs to address it.”
Yet a week ago nobody gave a shit. Why was that?“There’s a company that employs real people at the center of this maelstrom, and someone’s going to get hurt before this is over,” she said.
This article isn't actually as bad as some I've seen, since it does point out to how the various hedge funds have fucked up. If only 30% of the stock had been shorted at worst the Hedgies could've covered with a small loss, I think. But when over 100% of the stock is shorted (I think?) you wind up with fund competing with fund to buy the available shares to cover, to saying nothing of autistic "HODL" attitude of many of the current shareholders. Never mind the autists trying to still buy in at any price.
The whole thing is so amazing. Wanna go back to college and slap the professor who spent whole semester force feeding me the Efficient Market Hypothesis. Hard.