Comment on GameStop shares fall 20% after it files to sell additional stock, says first quarter sales dropped
Blue_Morpho@lemmy.world 1 month ago
I argued this premise years ago with the wsb crowd during the first run up and was down voted.
GME won’t go up and stay up because whenever the stock goes up, the Board/CEO will issue more stock to cash out the money that shareholders put into the stock. It will be shareholder funded executive bonuses.
pdxfed@lemmy.world 1 month ago
More to the point, if you think about what the mechanisms of power were able to do in the first run to stop equitable practices, they’ve had 3 years to plan for such a recurrence…I’d put my money on large shareholders or board members having taken money on the side or a wink wink agreement to issue shares when price jumps to protext shorts. Either would have the same effect but the timing of the issuance and roaring Kitty’s reemergence is not coincidental.