Mr. Jaggers: We’ll start setting his stocks short and keep selling it short until we break him.
Aide: But Mr. Jaggers his company has a solid reputation
Mr. Jaggers: Then start spreading rumors. Use that ugly word “mismanagement”… be inventive now, see to it.Maverick: The Golden Fleecing 1961
So let me get this straight.
If well connected multi billion dollar hedge funds conspire to sell a stock short thus make a huge profit at the expense of the shareholders in a move that might damage or destroy the prospects of a company, why that’s is simply the free market at work with some people winning and some losing and anyone who objects is a communist!
If ordinary citizens seeing this move conspire to boost the value of a stock that been shorted strengthening the value of the company & the stock and making a huge profit at the expense of the hedge fund managers who were conspiring to destroy them, well that not only an example of online hate but it’s a travesty of justice that has to be stopped by new regulation and the shutting down of any recourse that makes it possible.
Now me, I don’t like either game. I’m for the the old fashioned concept of the value of a company & its stock being based on the quality of the product or service it creates and the demand or lack thereof said product or service generates, rather than on manipulation or tax breaks to shore it up.
Perhaps if traders worked on that principle rather than playing games they would not be in a dead panic now and remember, if this can happen with Gamestop or AMC it can happen with any publicly traded company.