Can't Stonk Won't Stonk Game Stonk
Via r/wallstreetbets Disclaimer: This is a guest post from a friend that works in finance. The views and opinions expressed in this post are of the author and do not reflect the official policy or position of any other agency, organization, employer, or company. The most miraculous aspect of last week’s wild swings in Gamestop share price, is not the fact that an orchestrated short squeeze leading to a massive asset bubble captivated the market. Indeed, high drama short squeezes and bubbles have been part of the fabric of the free market since it began. The most amazing part of the story are the conditions and narrative that resulted in a perfect storm, leading thousands (millions?) of small-time investors to believe that by participating in a classic pump-and-dump they were leading the charge of righteousness and justice. First, I should clarify, as a supporter of the free market, I believe that the “retards” and “autists” have every right to trade, whatever their reasons. Howeve...