(01-28-2021, 09:24 AM)StroudCrowd1 Wrote: So, dumb question...

When the hedge fund closes their short positions and are out of the picture, what is the benefit of still buying the stock at that point? Seems like the last ones holding the shares would be wiped out when the company files bankruptcy, right?

GameStop in particular is screwed. This is a company that’s been on the brink of death for years, and the nail in the coffin for them will be when senior executives start retiring and cashing out their shares en masse, probably within a week. No one with a significant stake is going to hang around waiting for the bottom to fall out, and when they all walk and sell, Reddit will do the same. RIP GameStop, the first company killed in part by Reddit—but let’s be serious, mostly killed by its own business practices.

I do think it’s hilarious that Pocahontas is trying to bail her hedge fund buddies out of this mess they helped create, despite positioning herself as the champion of the millions of “me too” little guy investors that are now (1.) doing a little too well for her liking and (2.) about to get boned harder than any hedge fund exec when GameStop tanks.

I love the idea of the NYSE being forced to rewrite its own playbook. Love it to death. I’ve never been shy about my views on using the stock market as a key economic indicator, and why its stupid to put so many eggs in that basket. I just hope it doesn’t burn itself to the ground in the process.

And my 401k has increased in value by 30% over the last seven days, so there’s that. I figure I’m about a week tops from pulling half of what I have in small caps and aggressive funds out of there and into more conservative funds focused on large-cap, less risky stocks. Maybe even dump some of it into bonds. I’ve always been good at poker because I have a strong sense of when to GTblankO. That sense is dinging at me.

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