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How does this meme stock thing end?

pramod

Member
Oct 24, 2017
2,829
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Because from what I've seen about how our society has behaved, I don't see how it ends except with a total collapse of normal society.

I feel like the genie has been let out of the bottle, and there's no way to put it back.

So far there's been a couple of meme stocks a day. By next week there will be dozens. Next month, hundreds. By the end of the year 99% of all social media chatter will be nothing but WSB-type pump and dumps. You can see where this ends.

People will stop going to work. Because why work when you can get rich quick and chase meme stocks all day? Society will stop functioning.

And how do you stop it? Besides some huge government intervention?
 
Last edited:
Nov 7, 2020
3,361
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the wolf of wall street idgaf GIF
 

Taxexemption

Member
Oct 11, 2011
1,625
2,150
910
Shorting never should have been legal. You let it go where it goes. People lose out in pump and dumps, so eventually it will be stopped naturally when people realize financial advice from random internet people doesn't always make you a lot of money.


That won't happen though. My guess is a few of the wallstreetbets guys go to prison for securities manipulation and you will only be able to access what they are doing on shady websites that don't appear in Google searches.


To be clear I don't think the wsb guys did anything wrong, but the system is rigged and if you do stuff important people don't like they will find a reason to send you to prison.
 

mango drank

Member
May 12, 2009
1,645
2,079
1,325
Most people don't have the money, time, patience, or balls to be able to contribute in perpetuity to the hypothetical endless future swings of random meme stocks.

In a run-up, the early investors basically end up stealing the money of the suckers who invest after they do. People might not learn their lesson after their first loss, but after a while they will. And if they don't, they won't have the spare money to invest anyway.
 

Amory

Member
Jul 10, 2008
11,241
1,582
1,185
Connecticut
There are always more losers than winners. So for most people, it's a lesson they'll only need to learn once

Now that WFH is so prevalent, day trading is going to be more popular than it used to be. But eventually a lot of people are going to go back to the office and I think that will cut down on it as well
 

poppabk

Member
Jan 21, 2008
12,924
1,877
1,370
USA
Because from what I've seen about how our society has behaved, I don't see how it ends except with a total collapse of normal society.

I feel like the genie has been let out of the bottle, and there's no way to put it back.

So far there's been a couple of meme stocks a day. By next week there will be dozens. Next month, hundreds. By the end of the year 99% of all social media chatter will be nothing but WSB-type pump and dumps. You can see where this ends.

People will stop going to work. Because why work when you can get rich quick and chase meme stocks all day? Society will stop functioning.

And how do you stop it? Besides some huge government intervention?
This is not a traditional pump and dump, people realized certain stocks were way over shorted and seized on those as the shorts had to buy the stock no matter the price to cover. If you tried this with a company with a normal amount of short volume then you would not be able to predict the high and most would end up losing money.
The solution does not need to be intervention, if this happens a couple of times then hedge funds etc will stop going crazy on shorting stocks.
 

Outlier

Member
Nov 9, 2020
489
689
320
Shorting never should have been legal. You let it go where it goes. People lose out in pump and dumps, so eventually it will be stopped naturally when people realize financial advice from random internet people doesn't always make you a lot of money.


That won't happen though. My guess is a few of the wallstreetbets guys go to prison for securities manipulation and you will only be able to access what they are doing on shady websites that don't appear in Google searches.


To be clear I don't think the wsb guys did anything wrong, but the system is rigged and if you do stuff important people don't like they will find a reason to send you to prison.
What do you mean "important people"?

People who label others as "important" give way to bias corruption, where the ends will always overshadow the means.

It's what they're doing, not who they are.

This is why violent revolutions happens, because the "important people" are too high and mighty to give the commoners an ear, for their concerns.
 
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Taxexemption

Member
Oct 11, 2011
1,625
2,150
910
What do you mean "important people"?

People who label others as "important" give way to bias corruption, where the ends will always overshadow the means.

It's what they're doing, not who they are.

This is why violent revolutions happens, because the "important people" are too high and mighty to give the commoners an ear, for their concerns.

People who are politically connected. They couldn't do what they do except for who they are. If a nobody like me pulls shenanigans I go to prison, if an important person does it the system will bend over backwards to protect them. The law is merely a tool of the elite. The rich get richer.
 
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HoodWinked

Member
Jun 30, 2010
6,691
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1,070
Earth
It will self correct, the kind of insane short volume that these stocks had will become too risky and also institutions are starting to get in on the action. The algorithm trading will probably start to incorporate these new learnings.
 

oagboghi2

Member
Apr 15, 2018
12,517
21,191
755
Shorting never should have been legal.
This is wrong

That won't happen though. My guess is a few of the wallstreetbets guys go to prison for securities manipulation and you will only be able to access what they are doing on shady websites that don't appear in Google searches.
This is delusional

There have always been mem stocks. It's just that this one caught people's attention. It will slowly deflate over time, and those who got in early will have made cash. Those who got in super late might lose their initial investment, assuming they didn't trade on margin. No one at reddit is going to jail
 

Fbh

Member
Dec 6, 2013
16,627
13,498
1,070
When Gamestop overtakes TESLA and puts a Gamestop on Mars

"Wait, I thought you sad the spaceship is brand new...."
"Just because some of our associates took it for a spin doesn't mean it isn't new"

 
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bigsnack

Member
Sep 12, 2005
469
254
1,445
Los Angeles
Maybe RH ended up saving a lot folks’ life savings after all. The media already seemed to have given up on the GME fever today, at least compared to last week. Sadly I think GME will just slowly fizzle and drain downward. Either that or it languishes at 18 bucks or something for a year and then pops hard once more. I hope I’m wrong!
 
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Cyberpunkd

Member
Dec 16, 2020
1,361
1,993
455
People will stop going to work. Because why work when you can get rich quick and chase meme stocks all day? Society will stop functioning.
I will tell you what will happen - bubble will burst, armchair financial analysts will go back to their miserable lives and someone on Wall Street will make fuckton of money.
 
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GeorgPrime

Bonus Member
Jan 9, 2020
3,296
3,799
550
Because from what I've seen about how our society has behaved, I don't see how it ends except with a total collapse of normal society.

I feel like the genie has been let out of the bottle, and there's no way to put it back.

So far there's been a couple of meme stocks a day. By next week there will be dozens. Next month, hundreds. By the end of the year 99% of all social media chatter will be nothing but WSB-type pump and dumps. You can see where this ends.

People will stop going to work. Because why work when you can get rich quick and chase meme stocks all day? Society will stop functioning.

And how do you stop it? Besides some huge government intervention?

They will just block most of the normal user and go with people that invest a specific amount every year.
 
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