You can still offer those same convenience fees to all the idiots dumb enough to buy abnb at 150 by selling shares.
I feel like there’s going to be a cascading bubble effect in like 4-5 years where we realize that all of these companies still aren’t actually making any money and they just start selling off one after another.
I realize “Space Karen” is amazing and cannot be topped, but I think there’s some merit to Mars Karen.
I would love to see the data on who’s buying. I have a feeling a lot of it is retail millennial investors who don’t understand what market cap is. They like a company personally, so they buy it. “Oh, I use Door Dash all the time! BUY!”
But it could just be the ultra wealthy with way too much money on their hands trying to find new places to park it.
“Buy what you see/know” is a real investment strategy thing, right? Not a real good investment strategy thing maybe, but it is a thing
STONKS futures are bigly red so far. Not exactly sure why tbh. They will probably be green by open though. BUY THE DIP!
I’ll echo what some others have said. All of the biggest morons in my life are suddenly all in on STONKS and crypto again. There is almost no way we aren’t in some kind of an unsustainable bubble phase. The actual economic future looks insanely bleak. I realize STONKS don’t equal the economy but I don’t think we have ever seen a detethering from reality with the stock market like this in our lifetimes.
Comparing this to the 90s makes sense until you realize we had an actual roaring economy in the late 90s. Now we have 8% unemployment (with new claims back on the rise), probably an entire year of negative GDP growth, an impotent president, Mitch going full burn it all down mode and a completely delusional population who thinks the pandemic is ending in a month.
1 Like
Drill baby drill
Idk what I’ve clicked on to cause this but I’ve seen a lot of Dave Ramsey pop-ups recently. Based on my limited knowledge of him, it seems he pushes this theory hard to all his followers.
It is a very odd market because for the most part boring old stocks that Robinhood users have never heard of are at elevated but not crazy valuations, then you’ve got a whole other category of meme stocks that are untethered to any sort of economic reality.
I know the meme stocks will crash but it could be years.
One of the first investing books I read was One up On Wall Street by Peter Lynch, and buy what you know was one of his central investing tips.
It’s not a bad strategy when used in conjunction with an actual valuation of the company. The problem is when people do it blindly regardless of the valuation.
2 Likes
Thats what my friend who’s a DFS fiend says, blows money on Draftkings but makes it back and more buying their stock 
had a gf who was a very successful buy-side analyst and fund manager that specialized in in retail who would say to me that this was baseline principle she believed in. She told me not to repeat that if it ever came up with people from her work, and I always thought she was joking but guess not.
It certainly was never a stand-alone concept for her decision making and given her results who would care anyway. Appearance is everything
Most bullshit analysis works great with stonks because the trend is up. I stopped buying individual stonks about 5 yrs years ago because I didn’t feel I had time to research them well. Of course, my “research” was amateur bullshit. I did/do realize that on some level, which is in large part why I don’t do it any more.
However, I have an ungodly return on the ones I did buy in my last year. Not a single loser in the bunch (~10 different stonks) and one is up 20x. Nevertheless, I am not operating under the delusion that it was anything other than luck. I’m definitely a stock donk. VTIforlyfe
2 Likes
Unless this includes debt (enterprise value), not sure it means much
Futures up noticeably. ‘This surely surely must be the top’ fails for the 30th time now.
1 Like
Stimulus hopes, these guys are dumber than McGrath donors. Also memo to headline writers, you almost never actually know why the market is moving.
Really the headline should be stonks go brrr because of super hot r/wsb meme.
1 Like
The virus killing people has been great for stocks, not sure why the markets are happy about the vaccine.
1 Like
Trump Election Shenanigans Stall STONKS Runup.