Quote:
Originally Posted by mike1498
See this is where I think the disconnect is. While I believe that Tesla's overvalued, I wouldn't put that into the "meme stock" category because there is actual growth potential. I'm not saying it's worth the valuation it's at, but it isn't going up because people on a forum saying they are going to pump it.
When I say meme stocks I'm talking AMC, Black Berry, Express, GME. People aren't buying them right now because they think there's potential, they are buying them because WSB said they are next to be pumped. Should a group of people be allowed to get together to essentially pump and dump because they know they have the power to do it?
If that's allowed I don't know why insider trading shouldn't be allowed. I could say "well its a free market too". How is insider trading ethically wrong while a forum banding together to cause a bunch of squeezes aren't?
You may have a point with GME but this is farther than GME.
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This is the problem though, YOU don’t think it’s a meme stock and YOU think there’s potential for growth. It’s all speculative regardless. I could thin Tesla is completely overvalued and then I have the option to short it and bet against it. We both can do whatever we want.
Not singling you out Mike, you know I respect you, but nobody gets to dictate how I value a stock. We all have access to the same information and can draw our own conclusions on how much “stock” we put into a company. Nobody is “manipulating” anything, they’re just overvaluing a stock. There has to be a buyer and a seller on EVERY stock. Someone values these and is willing to pay for whatever reason they want. It’s their right to do so, whether you agree with it or not.