The real answer to this is much simpler. "The market can stay irrational longer than you can stay solvent" (Keynes). Are these redditors irrational? Yes. Is Gamestop going to produce long-term earnings to justify its stock price? No. Does that matter? No.
https://twitter.com/Kantrowitz/status/1354494321681068033
People have the right to invest how the hell they like and if you lose out, that's on you. If you don't like that, don't gamble. If you want to invest in fundamentals, take ten year positions.
The exception is securities fraud. This isn't a pump-and-dump scam.
So suck it up!
The exception is securities fraud. This isn't a pump-and-dump scam.
So suck it up!
Yes, you can't take long-term short positions. This is true.
Gamestop probably should be long-term short. But Melvin aren't long-term short. They're short-term short. That's gambling, not investment. And their number didn't come up.
Gamestop probably should be long-term short. But Melvin aren't long-term short. They're short-term short. That's gambling, not investment. And their number didn't come up.
Also, this is why I don't trade stocks. To make money trading stocks, you either invest long-term, in which case it's way too much effort to beat the market - I just put it in an index fund.
Or you invest short-term, which is gambling on other traders' behaviour.
Or you invest short-term, which is gambling on other traders' behaviour.
Oh no, other traders didn't trade the way I wanted them to!
Boo fucking hoo.
But the price has nothing to do with the underlying business!
Because that's never happened before...
Grow the fuck up, and don't take a short that you can't afford to get squeezed on.
Boo fucking hoo.
But the price has nothing to do with the underlying business!
Because that's never happened before...
Grow the fuck up, and don't take a short that you can't afford to get squeezed on.
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