New ask Hacker News story: Ask HN: How is GME not a pump-and-dump?
Ask HN: How is GME not a pump-and-dump?
7 by callwaiting | 5 comments on Hacker News.
I've deliberately stayed away from WSB so far, but curiosity got the best of me now, and I took a look. The amount of pumping behind GME is unbelievable. On of the top comments as of right now justifies burning a year's worth of income, just to stick it to Wall Street. The thing is, I don't think anyone at Wall Street is touching this stock right now. The stock price is far too high for a buy grounded in fundamentals, and shorting this particular stock right now can backfire catastrophically, as we have seen. This has the veneer of a crowd sticking it to someone they felt exploited by, but in the end, they're just being exploited by someone else. Right now, the only ones benefiting from someone sticking a year's worth of incoming into GME are those doing the pumping.
7 by callwaiting | 5 comments on Hacker News.
I've deliberately stayed away from WSB so far, but curiosity got the best of me now, and I took a look. The amount of pumping behind GME is unbelievable. On of the top comments as of right now justifies burning a year's worth of income, just to stick it to Wall Street. The thing is, I don't think anyone at Wall Street is touching this stock right now. The stock price is far too high for a buy grounded in fundamentals, and shorting this particular stock right now can backfire catastrophically, as we have seen. This has the veneer of a crowd sticking it to someone they felt exploited by, but in the end, they're just being exploited by someone else. Right now, the only ones benefiting from someone sticking a year's worth of incoming into GME are those doing the pumping.
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