WallStForMainSt: Party Like It's 1999? Game Stop Shares Go Crazy Proving Speculative Mania Worse Than Tech Bubble
Retail call option buying at an all time high. Total stock market options have exploded in size to over $20 trillion now.
Retail traders intentionally creating short squeezes for hedge funds shorting stocks like GameStop (NYSE: GME) on fundamentals?
GameStop jumps amid retail frenzy, shares double at one point in wild trading https://www.cnbc.com/2021/01/25/gamestop-shares-jump-another-40percent-shake-off-analyst-downgrade-as-epic-short-squeeze-continues.html
GameStop stock sets record, then loses bulk of gains in another volatile day of trading https://www.marketwatch.com/story/gamestop-stock-more-than-doubles-to-record-high-then-loses-it-all-in-another-volatile-day-of-trading-11611600212
BlackBerry, AMC and Other Reddit YOLO Favorites That Aren’t GameStop https://www.wsj.com/articles/blackberry-amc-and-other-reddit-yolo-favorites-that-arent-gamestop-11611681716
How GameStop’s Reddit- and Options-Fueled Stock Rally Happened https://www.wsj.com/articles/how-gamestops-reddit-and-options-fueled-stock-rally-happened-11611743400
Not only are the amount of unprofitable companies more than in the 1999-2000 tech bubble, but the amount of speculation by retail investors using call options is far higher. So are valuations for publicly traded companies with no hope of profits anytime soon or even and with horrible fundamentals.
Things actually look closer to the crazy speculation from Weimar Republic Germany on foreign currencies and stocks where people were desperate to make an income from speculation to survive.
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