Tags

, , ,

Norm’s note: the turnover on GME was in the neighbourhood of $11.7 billion today, i.e., 58,815,805 shares @ an average price of $200, and probably higher. Clearly, the redditors subscribed to r/wallstreetbets do not have the wherewithal to cycle that much cash. Or do they? There are 5.4 million degenerates. If everyone is buying and holding, that’s roughly $11.7 billion divided by 5.4 million, for an average investment of $2178.00 USD per degenerate. Most simply do not have that kind of cash to throw around — I strongly suspect. There is a war. But I’m thinking it’s really between the moneybags themselves. And a lot of the redditors may consequently end up being bag holders.

And yet, and yet, maybe there is something I’m not seeing?

What appears to be the case, however, is that the redditors may indeed have been the inspiration for the raid. I hope most make out okay.

This “rebellion,” though, puts me in the mind of this quote by Marx, speaking of the possibilities inherent in the possible emergence of genuine class-consciousness among the proles : “It will then be realised that the world has long since possessed something in the form of a dream which it need only take possession of consciously, in order to possess it in reality.”