Read my brother’s reporting. It’s a fun populist story on the surface, but real people are going to be badly hurt who can’t afford it while the villains in their story will be just fine.
https://twitter.com/jonsarlin/status/1355138287749500928
There’s an obvious fairness issue to the Robin Hood restrictions that fires people up and produces takes on the many problems in the economy. But those are abstract points being paid for with ordinary people’s money and amateur options betting is not a substitute for change.
People are glomming onto individual Reddit posts to pretend that everyone is going into the GME push out of altruism and expects to lose money. But the WSB culture is about get rich quick schemes and the house always wins on those eventually.
https://twitter.com/jonsarlin/status/1355140528174723074
Whatever some people’s individual motives, the story right now is going to end up being a mania to try and grab cash out of fear of missing out. That’s what happens when a stock shoots through the roof.
https://twitter.com/stevekovach/status/1355128294165901312
There’s some real absurdity in taking WSB posts about non-financial motives at face value. If your goal is to pump a stock value up and sell high, the value of convincing a bunch of rubes that there’s some kind of moral calling in buying and holding all the way down is obvious.
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