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this post was submitted on 23 Jan 2024
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I really love how the whole GameStop thing is so derided around a lot of places, because haha, memestock idiots.
They literally turned off the buy button until they could figure out a way of the mess they created - or at least postpone it. This event alone should have brought people into the streets calling for these assholes heads. Instead we got shitty media coverage, shitty politicking around the topic with clueless senators and almost no action taken whatsoever.
GameStop revealed how utterly, utterly rigged the "free and fair" markets truly are. Sure we all realize that those with money and power will always be ahead of everything. But that was a full mask-off moment and - to a degree - still is. They had to show their cards and it's all fake and make belief, fully covered by unregulated entities that will never ever be held responsible. Not for the fucking mess they made in 2008, not for the fucking mess they kept making (rebranding MBS to CMBS and then getting fucked when COVID suddenly makes work from home a clearly solid model, crashing the CMBS nonsense, just like it was in 2008 with MBS nonsense)...
Like, I get it. Haha GameStop idiots got burned. But people really do not see how hard that event ripped off their mask and nearly brought the whole fucking thing down to the point where they had to blatantly intervene to stop the bleeding. And it didn't even stop with the run a few years ago. Once the split was done, all GameStop shares simply fucking disappeared for several days for German holders, because the split was also done in a very, very suspicious manner.
Think what you will of people invested in GameStop. No single stock has ever put how fucked the market structures truly are as much on display as this one has and continues to do.
It's all fake bullshit and it's still the best way to try to get a leg up in a "legal" way. I truly hate all this shit so much.
GameStop should be profitable soon. Quarterly losses have dropped hundreds of millions. CEO Ryan Cohen doesn’t take any compensation and has only purchased more stock. I’ll keep buying until all shares have been DRSd
EPS are like -0.01 right? Very close to positive. Lots of money in the bank and probably the best CEO in the world for the job, who doesn't even take any salary.