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re: GME is going wild because Roaring Kitty posted a photo on X after 3 years of silence
Posted on 5/14/24 at 10:41 am to RebelTheBear
Posted on 5/14/24 at 10:41 am to RebelTheBear
quote:
Meme stocks have my head spinning
Basically the stock price is not relative to the current value of the company like normal stocks based on earnings and debt, it is much more volatile with the supply / demand forces of the retail investors buying and holding a large volume of stock vs the institutional Wall Street firms shorting it (betting against it), making it much more volatile. Like a game of tug of war.
Wall Street has been gaming the system forever and retail is fighting back to burn them - long term we need reform to eliminate naked shorting and other illegal practices to level the playing field.
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