Gamestop

yea if i’d seen the tweet last week it probably would have been more appropriate to post then

still i’m admittedly pretty clueless about how the whole thing got going and it seems worth examining what psychological factors contributed most to its viral power. there’s definitely a kind of absurd poetry to it, and i know internet people eat that stuff up, but at the same time for it to be a last stand against virtuality or something i’d think the movement would have to contain some core of vested interest in actually seeing these businesses return to life, and i’m not aware that anyone gives much of a shit beyond “wouldn’t it be funny”

like - if the ultimate “successful” outcome (based on this idea of why the cause is motivating) is that Gamestop becomes notorious enough to remain a highly valued symbolic good with no physical significance, then what did it accomplish, exactly?

2 Likes

Now Robinhood is trying to blame regulation. This has been the worst crisis PR I’ve ever seen

4 Likes

I came across this the other day. I have never had a Reddit account so I have no idea how hard it would be to construct a post like this but I was impressed.

16 Likes

has it popped yet? have some friends who decided to get out

NPR reporting on this is what finally got me to understand what shorting is.

1 Like

I learned what shorting is years ago, then I kinda forgot the details, then learned it again, etc. Like it’s easy to understand the general idea of a trade that profits when a stock goes down, but the actual mechanics of borrowing a share from A, selling it to B, then paying interest on the share you no longer have to A until you buy an identical share from C to settle the debt is kind of mindbending and it doesn’t stick in my brain

7 Likes

yesterday afternoon, yeah

1 Like

It sounds like some convoluted shit some guy would propose while playing a board game that would get him uninvited from future board game nights.

12 Likes

Surely there’s already a Settlers of Catan variant with futures contracts out there. People with economics degrees love designing board games

1 Like

I think the way Acquire handles stock growth, mergers, etc is very elegant. I’ve def. not played a board game with futures contracts, though. I think there’s a fine line between “fun” and “homework”, although something about an overly-complicated financial boardgame sounds sort of fun to me.

1 Like

I have no doubt that at least one 18xx variant has futures as a central feature.

1817 has naked shorts as an explicit mechanic, literally letting you recreate the gamestop scenario

3 Likes

see this much sticks for me, the part that never sticks is options. tf is an option, i only know the football play

2 Likes

This is the only type of option I know:

25 Likes

i got 3 stock
no items
fox only
final destination

6 Likes

Options are a kind of contract that limit the promisor’s ability to revoke an offer. Movie options, stock options, etc.

Company X gives you the option to purchase Y shares at $Z in exchange for money, labor, or other “consideration” (something of substantial value)

The limited ability to revoke part is why WSB had Melvin by the scruff of their neck.

3 Likes
3 Likes

Forgot to post this, from a few days ago, but they’re dragging everyone up in front of Congress right now.

3 Likes

round 2

yeah, probably gonna sit this one out

3 Likes