354 upvotes, 18 direct replies (showing 18)
I don’t know much about the stock market, but the fact that so much money can be gained and lost by merely speculating on what is popular, with the proceeds not really benefitting the economy that much, seems a bit sketchy.
Comment by Oh-no-it- at 27/01/2021 at 04:01 UTC
198 upvotes, 2 direct replies
Correct.
"The big short" is a fun film about an aspect of that.
Comment by r3dphoenix at 27/01/2021 at 05:22 UTC
125 upvotes, 3 direct replies
That's how gambling works. If you win, you're getting the money from the other gamblers that lost the same bet
Comment by scorpionjacket2 at 27/01/2021 at 07:20 UTC
113 upvotes, 4 direct replies
The richest people in the world make their money this way. That’s why we should tax the shit out of them.
Comment by Take_It_Easycore at 27/01/2021 at 07:25 UTC
17 upvotes, 1 direct replies
Gamestop is an asshole company and is going to die out for sure so that is fine, but you are entirely correct. The stock market is government sanctioned gambling in which the result is always the same, the business values the number as a score more than anything else and will sacrifice any number of its workforce, therefore ruining peoples lives, to try and keep it up. The stock market is the single worst scourge on humanity that has ever existed, aside from actual illnesses. People will get triggered by that who invest, but its the plain truth of capitalism.
Comment by Franks2000inchTV at 27/01/2021 at 14:49 UTC
5 upvotes, 0 direct replies
This is a tiny drop in the ocean that is the stock market.
About $50T (yes, trillion) dollars in stocks are traded in a daily basis.
https://data.worldbank.org/indicator/CM.MKT.TRAD.CD
Comment by GeoStarRunner at 27/01/2021 at 06:03 UTC
9 upvotes, 1 direct replies
Technically all this money is giving gamestop the option to get money by selling more stock to expand/grow
They wont mind you, because they are in a dieing industry and are too much of pussies to try and pivot. But they could if they wanted to
Comment by [deleted] at 27/01/2021 at 17:21 UTC
3 upvotes, 1 direct replies
It’s not speculation, there’s actually a *very* large amount of financial analysis that goes into something like this. All it took was one person on r/WSB to do the math and everyone hopped on. If played smart, daytrading can give you a steady income for years if you know what the fuck you’re doing.
Comment by ohheckyeah at 27/01/2021 at 05:08 UTC
8 upvotes, 0 direct replies
Seems a bit fucking awesome
Comment by unboxedicecream at 27/01/2021 at 16:10 UTC
1 upvotes, 0 direct replies
But the money that changed hands is the the same. You can win big yes, but you can also lose everything, and your wins come from others’ losses
Comment by TheCommonKoala at 27/01/2021 at 06:52 UTC
1 upvotes, 0 direct replies
Always has been. Not too long ago Tesla was brought up to dominance on memes
Comment by jamiemm at 27/01/2021 at 12:28 UTC
0 upvotes, 0 direct replies
You understand the stock market completely.
Comment by Peakomegaflare at 27/01/2021 at 10:27 UTC
1 upvotes, 0 direct replies
There's a reason I follow that subreddit. If I hadn't been during my billing cycle, I'd have dumped a couple hundred in when the first post went out.
Comment by beesneeze420 at 27/01/2021 at 14:13 UTC
1 upvotes, 0 direct replies
We get to channel it back into our local communities instead of hoarding it though ☺️
Comment by Maximus216 at 27/01/2021 at 18:32 UTC
1 upvotes, 0 direct replies
Lmao, welcome to the market.
Comment by DrWernerKlopek89 at 27/01/2021 at 19:07 UTC
1 upvotes, 0 direct replies
you thought the stock market was something else ?!
Comment by Danne660 at 27/01/2021 at 20:53 UTC
1 upvotes, 0 direct replies
It benefits the economy in the sense that it funnels money away from people who make bad financial decisions to people who make good financial decisions.
Comment by Hype_Lord at 27/01/2021 at 22:28 UTC
1 upvotes, 0 direct replies
Isn't capitalism great?
Comment by weirdwallace75 at 28/01/2021 at 01:43 UTC
1 upvotes, 1 direct replies