IMO what’s going on w/ #wallstreetsbets@AMCTheatres & @GameStop is nothing but capitalism The best & worst example of it all at the same time People are free to make stupid trades & do stupid things w/ their money The stock market is, after all, little more than legal gambling
I don’t see how what the Reddit investors did w/ @GameStop & @AMCTheatres is much different from what hedge funds & robber barons have done in the last For the most part it’s just raw capitalism in my opinion Free markets gives you the right to do stupid things w/ your money
A hedge fund is angry because a bunch of people got together, pooled a ton of money and bought stocks in the hopes of massively profiting at the expense of someone else.
I booked several “phantom” meetings today on my online calendar. I’ve had back to back to back zooms all this week and need time to actually get work done.
To me, what’s happening to #shortsellers of @GameStop is comparable to a #Vegas#Blackjack table made up of half pros & half amateurs The amateurs are winning but not playing the “right way” which causes the pros to lose This, of course, infuriates the pros who don’t win on luck
Early in my tenure in #Vegas I had quite a winning streak on one #blackjack table despite hitting when I shouldn’t & generally just being lucky I was up big But an old woman at the table started screaming at me for playing “wrong.” Even threatened to have me beaten up
To me, what’s happening to #shortsellers of @GameStop is comparable to a #Vegas#Blackjack table made up of half pros & half amateurs The amateurs are winning but not playing the “right way” which causes the pros to lose This, of course, infuriates the pros who don’t win on luck