Quote:
Originally Posted by Enoch Root
Are you referring to RH?
That is ugly, but it is not the reason that the stock is $200 instead of $1,000
The value of a company is a function of its fundamentals. Gamestop is a $1 or $2B company, not a $10 or $0B company.
What is going on right now is interesting, and those that are being hurt deserve it. None the less, the stock is going to end up at $20 (or something in that area). What it does over the next few days is anyone's guess, but it is not a $1,000 stock. It is not a $100 stock. So holding it long term, from here, is probably not a great strategy.
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That is one of the tactics. There are others, such as:
The WSB subreddit was spammed relentlessly with bots telling people to buy BB, AMC, NOK, BBBY and others. Who is behind that? They were spammed so hard, they literally were forced to take the sub offline for an hour last night, which corresponded directly to the faltering in AH trading.
Media manipulation with most big news agencies throwing out stories about lawmakers suggesting a 30 day ban on GME trading.
Scam stories saying the SEC was coming after individual redditors.