The_Law_of_Pizza t1_j0qakj2 wrote
Reply to comment by [deleted] in Social media influencers are charged with feeding followers ‘a steady diet of misinformation’ in a pump and dump stock scheme that netted $100 million by Wagamaga
I generally agree - these "victims" are greedy assholes who think that they are about to pull one over on somebody else by knowing this secret insider pump information.
They thought they were going to make somebody else be a bagholder, but were instead the rubes holding the bags. I don't have a lot of sympathy for that.
On the other hand, this is becoming endemic across social media, and is starting to be a serious sociological issue.
Look at the subreddit "MMAT," which was a gaggle of ignorant dumbasses focused on trying to create a short squeeze, but they didn't understand what they were investing in, and now own worthless private, untradable shares of a defunct oil field.
BBBY (the subreddit for Bed Bath and Beyond short squeeze investors) and GME or Superstonk (for Gamestop short squeeze investors) are basically headed down the same path - there just isn't a hard conversion event forcing those groups to fail immediately like with MMAT. But inevitably both companies will see a long, slow slide into obscurity and/or bankruptcy and we're going to have a ton of dumbasses shrieking that they lost all their savings.
At the end of the day, these pump and dumps, or these short squeeze conspiracies - it's all the same crazy nonsense mixed with greedy rubes who think that they're the ones who know some secret, and that they're going to pull off some hijinks to eat somebody else's lunch.
Normally, nobody would have to care that a bunch of mouth breathers lost their shirts by gambling on some dumb investment scheme.
But these are becoming so prevalent now that the general public is starting to lose its sense of normal. People are beginning to not be able to see these conspiracy cults and/or scams for what they are.
Poppadoppaday t1_j0s6ut2 wrote
I think BBBY and possibly AMC will implode sooner rather than later. They both have horrible financials. DWAC is looking dicey as well. GME probably has a couple of years, maybe more if they're smart enough to dilute again before share price gets too low.
I think the current meme stock bubble will pop, but when it happens will depend on whether too many GME people jump ship next time they dilute. Eventually people will forget about the current crop of busted stock conspiracies and the cycle will start again
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