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Strained comparisons abound. here. But if there is any relevance to recent political events in this GameStop experience, it's not little guy vs. big guy but a willful contest of alternative facts. Is this stock worth as much as we (my crowd) can will it to be worth or is its value to be eventually determined by its performance in a marketplace of many, larger crowds demanding verifiable results?

And to add a new analogy to the mix: I spent a lot of time studying and betting on horse races in my youth. Hot tips and insider information were the currency of the game. But, once the race was run, there were no alternative results, just one, verifiable at the cashier's window.

This is similar (the betting is pari-mutuel) and different (the race has no finish line). But, unless tired horses can run forever, this will not end well for the bettors, no matter whether big guys or little guys are ahead at the quarter pole.

Feb 1, 2021
at
9:34 PM