The GameStop surge is just another Ponzi scheme(spectator.us)
spectator.us
The GameStop surge is just another Ponzi scheme
https://spectator.us/topic/gamestop-surge-just-another-ponzi-scheme/
7 comments
> That there is an ideological element to the GameStop buying spree is witnessed by the involvement of Alexandria Ocasio-Cortez. Never one to miss out on a left-wing cause, the New York congresswoman tweeted her outrage on Thursday when trading app Robinhood briefly suspended trading in the shares. ‘This is unacceptable,’ she tweeted, complaining that while the retail investors driving the surge had suddenly been banned from trading, hedge funds were still able to trade. The share price duly plunged by 44 percent — which looks like being more than reversed today as soon as Wall Street opens.
She's so brave!
She's so brave!
Can you expand on your point here?
She jumps on any populist cause regardless of ideology. Protecting the rights of people to speculate in complex stock deals is hardly in-line with her professed platform.
Of course some people will be left holding the bag. That’s how markets work. The article asserts that’s GameStop is the new blockbuster, but provides no facts or figures to back that up.
Well, not always. A company that builds good products and consistently adds value and grows will have a stock that grows, and dividends to pay, and no mid- or long-term investor will be "holding the bag."
The whole market is a Ponzi scheme since the government lowered interest rates and pushed everyone into the markets to artificially sustain it . The government is also a market manipulator with the interest rates helping to sustain bubbles .
No mention of the large long positions held by investors like BlackRock. It also draws a link to AOC whilst failing to mention that even Ted Cruz agrees with her (though he may be wanting to distract from the 6th Jan).