Do you honestly think this isn't going to end in tears?
This stock isn't worth even half of where it finished on Friday. Which means it is almost guaranteed to take a dive at some point. When it does, everyone who bought at ridiculous valuations to support the other mob members will be devastated. And who will profit from the almost certain drop? Some of the very same companies and individuals who the mob thought they were hurting.
Think about it for a moment. This stock was being shorted (over 140% of it, which is very, very wrong -- rules should change) when it was just a few bucks. They were short GME when they knew they could only make a few bucks per share. What do you think is going to happen now that they know they can make HUNDREDS of dollars per share?
The question isn't whether or not this is a good short. The only question is when to short it. That's the chess game at the moment. It's a weird combination of psychology and timing. I don't know the answer to this question, yet I am as close to 100% certain that GME will implode as I can be (not enough to gamble my money, I don't gamble).
So, yes, in many ways it is like a Ponzi scheme: Some made a ton of money, others a little money, and the based of the pyramid will eventually get hurt.
This stock isn't worth even half of where it finished on Friday. Which means it is almost guaranteed to take a dive at some point. When it does, everyone who bought at ridiculous valuations to support the other mob members will be devastated. And who will profit from the almost certain drop? Some of the very same companies and individuals who the mob thought they were hurting.
Think about it for a moment. This stock was being shorted (over 140% of it, which is very, very wrong -- rules should change) when it was just a few bucks. They were short GME when they knew they could only make a few bucks per share. What do you think is going to happen now that they know they can make HUNDREDS of dollars per share?
The question isn't whether or not this is a good short. The only question is when to short it. That's the chess game at the moment. It's a weird combination of psychology and timing. I don't know the answer to this question, yet I am as close to 100% certain that GME will implode as I can be (not enough to gamble my money, I don't gamble).
So, yes, in many ways it is like a Ponzi scheme: Some made a ton of money, others a little money, and the based of the pyramid will eventually get hurt.