DUMB MONEY looks kind of interesting, as long as you accept the fact that it’s far too soon to get a historically accurate movie exploring what happened with Gamestop. Entertaining? Sure, that’d be possible. Correct? …Ehh?
3 thoughts on “The DUMB MONEY trailer.”
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Good concept, if only that hadn’t thrown money at Pete Davidson. The smug assholery oozes from him. Taco Bell gets no more money, neither will this.
Still HODL.
I got in fairly early, and considered it an entertainment expense rather than an investment.
And I was so very, very entertained.
(Still am, actually. I just check in every couple of weeks instead of almost every day. The 4:1 split makes it look like the bubble burst, but if I cashed out at today’s closing price, I’d be getting over double what I put in.)
The fundamentals haven’t really changed much. Toxic shorts still significantly outweigh the float.
It has just become clear that the SEC is deliberately turning a blind eye to flagrant illegal shenanigans and letting the “market makers” roll the obligations over in the most dubious of fashions.
That said, simply holding imposes a significant ongoing cost onto those individuals and institutions abusing the system. “Because $&@; you” is a perfectly valid, not to mention resonant, reason to do so.
The downside, is that I got to learn how screwed we are.
The ‘90s law allowing digital trading also gave financial institutions designated as “market makers” a ridiculous amount of power, discretion, and a dupe hack, all of which have been enthusiastically abused to gather money and power unto themselves.
At this point, the stock market has very much become a Ponzi scheme.
My sense is that only the trillions the government has been creating out of thin air have kept it from collapsing. (Seriously, the Boomers are out of the workforce and liquidating. Only the massive economic damage of the lockdown is allowing politicians and economists to pretend that we aren’t in a recession or depression. So who’s buying enough to keep prices elevated?)
Oh, I agree: watching various financial types melt down over Gamestop was excellent entertainment.