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Eventually price will return to value. What is the real value of GME? I am doubting it is $300+ per share. But it is probably more than the shorters thought. It was heavily shorted for a reason. Retail (uhg!), mall based retail? (double uhg!).
On top of that: brick & mortar during a pandemic? Triple ugh.
I've been browsing the past few hours on reddit and no one is talking fundamentals of GME. Not a single one. The value of the company really plays no part in this (and it will be no better off afterwards...other than some of the founders can probably make some bank on their remaining stocks...something they were probably never hoping to do again)
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And the predator class won't be left holding the bag
Agreed. But this isn't about taking down the whole system. This is about demonstrating that - on a level playing field - the rich can't do whatever they want without getting some pushback...even when they pull out all the dirty tricks.
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I do agree that over aggressive shorting is dead.
That would be a great outcome. These types of shorts have needlessly destroyed a lot of promising companies and driven countless people into poverty.
I remember when the shorts waged war on Tesla (they still kinda do...but that ship has probably sailed)
...and what kind of world would we be in where Tesla (and by extension SpaceX) hadn't survived? One that is a lot more boring (no pun intended), that's for sure.
(Whether GME needs to survive for a cool world is debatable)
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But new strategies will evolve to crush guys that that make a play at them and you can be sure of that.
Absolutely. But don't underestimate a lot of people with a lot of spare timeon their hands (and some with a pretty good brains, too. They call themselves affectionately "******s" ...that alone should tell you that they are anything but).
Particularly now that they have seen what they can (hopefully) achieve.
I think they have a decent chance to rise to the challenge. And remember. There's people like the (what is he currently? Third richest? Second richest) guy in the world who are sympathetic.
Last edited by antialias; 01-29-2021 at 09:40 PM.