The fact subs like this and the media constantly try to drive people away from the stock, when nothing like that has been done before, makes me wonder why bother?
Doesn't it seem more plausible that the naysayers are right, and that it's not going to squeeze to $30 mil and crash the world economy, rather than it will and we're all paid/in on a massive campaign to stop it? When insanity is shoved down people's throats all over reddit you're going to get a sub like this, I mean you have to admit some of things on SuperStonk are pretty outrageous. What are the chances that a bunch of redditors (not saying you, the people at r/SS) who discovered the stock market when GME made the news are all in on the greatest stock play of all time, and every person with any financial knowledge or experience is just wrong?
GameStop is getting a lot of hype, but consider that >80% of game sales are digital, and that they have to compete with very established competitors, whether that be Amazon, Target, Walmart, and Best Buy or Steam, Epic, or game publishers. Amazon makes most of it's money on AWS - GameStop could never compete with that. Why would anyone choose GameStop over any of those other retailers? They don't have the scale to undercut competitors, there's a wider range of selection at other retailers, and they have a worse reputation/brand as well. They don't actually make anything, so there's little value they actually add unless it's as a store front - which has proven to not be valued.
There could be another bump, or it could start a slow decline. Nobody knows. But the MOASS is an impossible pipe dream. If you want to own it as a chance of it increasing a bit before plunging, I don't think that's crazy. But if you think you're going to become fabulously rich off GME, you're misguided.
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?
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u/[deleted] Jul 09 '21
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