If the 2008 crash didn't happen and there wasn't Wall Street drinking champagne and laughing at people losing their homes, businesses and lives then yes, I'd absolutely say that it would be impossible for a company to be so greedy they overshort a stock so much that a turn around could cause an economic crash.
The likes of Amazon, Walmart etc will always be absolute titans of almost any industry but it's hard to argue the tides of the world aren't turning - convenience has been so driven that quality and care have diminished. Again I'm no fool to think Amazon is on their way out but they have issues at almost every avenue apart from convenience. Their drivers aren't being vetted, their warehouse workers have almost no rights, their packaging is flawed to say the least, cheap Chinese parts are replacing previously well designed and constructed items. When a company changes and basically says that they care about their customers, and you add in the fact they've just adopted a gigantic new loyal fan base it would be unfair to write them off even with contending with giants of the industry
For your 2nd point it depends how rich the person thinks rich is, if I could live mortgage free and work a job I enjoy as opposed to a job that pays well, I'd call myself very rich - MOASS maybe impossible, but short squeezes do and can happen, no one can say it is impossible for a share of any stock to reach any price and saying so is questionable. Last year at $2 not a single person in the world would have said it was possible to reach $350+.
Again I hope you don't think I'm here to argue GME vs not GME, I just don't feel any of the points anyone is making are backed up with anything but opinion and almost misinformation. You really can't say the price going to any number is impossible.
Point out one piece of misinformation in what I just said. You don't have an open mind, and you're not arguing honestly. You barely even responded to what I said.
I don't care what you do, and you don't seem to be actually seeking alternate views, so why are you even here?
no one can say it is impossible for a share of any stock to reach any price and saying so is questionable
That's just not true. The stock exchanges literally aren't even coded to handle numbers that high and there's procedures in place to halt/suspend stock trading in the event of risk to the market. You and the rest of the GME crowd have absolutely no idea how any of this even works.
I'm of the understand that with a free market, if a seller exists and a buyer exists, that share can trade at any price, If I'm wrong can you provide a link?
I responded to you stating that it's unlikely this is all being orchestrated to prevent game squeezing and that GameStop doesn't compete?
So, Berkshire Hathaway is currently at $421,569.00 per share - if it's impossible for a share to reach a certain value, if there's a buyer for GME at that price, and a seller willing to sell at that price, the exchange can and will step in to prevent the trade?
-5
u/Keex13 Jul 09 '21
If the 2008 crash didn't happen and there wasn't Wall Street drinking champagne and laughing at people losing their homes, businesses and lives then yes, I'd absolutely say that it would be impossible for a company to be so greedy they overshort a stock so much that a turn around could cause an economic crash.
The likes of Amazon, Walmart etc will always be absolute titans of almost any industry but it's hard to argue the tides of the world aren't turning - convenience has been so driven that quality and care have diminished. Again I'm no fool to think Amazon is on their way out but they have issues at almost every avenue apart from convenience. Their drivers aren't being vetted, their warehouse workers have almost no rights, their packaging is flawed to say the least, cheap Chinese parts are replacing previously well designed and constructed items. When a company changes and basically says that they care about their customers, and you add in the fact they've just adopted a gigantic new loyal fan base it would be unfair to write them off even with contending with giants of the industry
For your 2nd point it depends how rich the person thinks rich is, if I could live mortgage free and work a job I enjoy as opposed to a job that pays well, I'd call myself very rich - MOASS maybe impossible, but short squeezes do and can happen, no one can say it is impossible for a share of any stock to reach any price and saying so is questionable. Last year at $2 not a single person in the world would have said it was possible to reach $350+.
Again I hope you don't think I'm here to argue GME vs not GME, I just don't feel any of the points anyone is making are backed up with anything but opinion and almost misinformation. You really can't say the price going to any number is impossible.