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Wednesday, May 18, 2022
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Opinions

Opinion pieces are supplied by The Tentacle writers and contributors who live or have lived in Frederick County.

GameStop, Bitcoin, and the Federal Debt

GameStop, along with Hertz, AMC and others have made headlines recently as their share prices soared in defiance of their near-death fundamentals. Crowds of traders often called a “flash mob,” mostly brash young novices, got together via social media to bid up the shares, motivated partly by the age-old prospect of selling to a greater fool, but also to “stick it to the shorts,” meaning force holders of short positions to buy the shares and cover their losses, thereby driving shares still higher, and presumably reaping a dose of schadenfreude for the mobsters along the way.