Having written extensively lately on the current events occurring in the stock market with many wall street hedge funds such as Melvin Capital and Citadel getting their short positions assaulted by masses of individual traders gathering through the /r/wallstreetbets subreddit, I must say it has been an extremely funny and entertaining week to say the least.
Even reading about how Robinhood app decided to unilateraly deny its customers the ability to buy stocks from AMC, GAMESTOP and others shows how deep in trouble wall street investors got during the biggest loss the financial markets have been hit with since the 2008 market housing crash.
Now, Coinmarketcap has decided to provide some wonderful jokes around WallStreetBeets(WSB) for everyone to see. If you enter CMC website you will probably see WSB as the first coin topping the charts with a marketcap of 24$ billion.
Once you click to see what kind of new cryptocurrencies this is, you find out they are just having a laugh with the entire situation.
Please note that this is a JOKE- NO SUCH ASSET exists. All UR MeMes R belong to us and Charmander-marth!!!!!111. We seek alpha and master beta. If you see similarly-named projects, please perform the requisite due diligence and do not ape into anything associated with this page.
And below that we can read:
WE SEEK ALPHA AND MASTER BETA!!!!11 La-li-lu-le-lo. Are funds SAFU or SNAFU? Is Bitcoin your safeword?Here is the tl;dr of the $GAMESTONK 2 STRONK SQUEEZE - When your broker is as reliable as a Cyberpunk 2077 launch day patch, does the GAME have to STOP? #cwutididthere
Following on with new WSB posts we can see many are still buying and holding their positions even after GAMESTOP price dropped towards 92$ from previous ATH at 420$. As Donald J. Trump used to say, "THE BEST IS YET TO COME". So sleep safe and sure knowing this is not the end of this short squeezes, expect more to come and bigger losses, especially if JP Morgan or Goldman Sachs are caught in a Silver squeeze. Anyways, just wanted to share my personal opinion about current situation with GAMESTOP and after watching this Coinmarketcap joke decided to share it with the Leo finance community. Keep safe everyone!
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The WSB joke was good on coinmarketcap. I was wondering...well now they have a coin.
Regarding GME, I think it is like betting on a dead horse. There have been some guys that made millions but now the hodlers will probably lose their amount as GME is a company in trouble. Most people buy stuff like games on the internet today and physical shops have a higher maintenance cost. GME missed the moment to reinvent itself. It is like Blockbuster run down by Netflix.
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You are probably right! GME looks horrible and people keep posting their losses so I believe many will have to cut their positions sooner or later. Maybe we can see some more short squeezes but probably not on GME. Anyways, who knows what will happen? These are truly amazing times we are living!
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Like you say truly amazing times.
I might have two wishes maybe from this cool swarm of WSB, first to pump Hive and second to focus on companies where humanity can benefit like cancer research labs that need funding for years without being profitable or some tech company into green industry.
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It seems your wishes benefit humanity more so than you personally, comes to show a small part of your personality. Nice to hear it!
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:)
We all live on this planet and health goes before profit. The best example is Steve Jobs, where I bet he would have spent all his money to be healthy.
I see cancer strong connected to high pollution and with cleaning the planet we have a healthier humanity. I'm not a green fanatic, by far..just try to have common sense.
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I enjoyed reading about the life of Steve Jobs and his views about life and how to keep pushing forwards, so I share the same view as you! Yes, I am a strong believer in the old Hyppocratic saying "Let food be thy medicine", and with respect to pollution and climate, carbon dioxide is the basis of all life, even though it is being criminalized by so called "climate experts", so my point of view is: fight against polluting agents in the atmosphere, in the seas and in the forests. This includes acidification, car fumes, toxic chemicals in rivers and plastics... Anyways love your answer so keep up the good work man!
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Agree with you, there are a lot of factors. Imagine a normal cigar has 2000 toxins inside. Food is a factor and a tremendous one. I haven't seen skinny people with diabetes.
Thank you for the comment and the feedback!
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