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Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by pjc50 on Saturday February 06, 2021 @07:24AM (#26046082)
> ridiculously high meme prices like $1k per share could have been realistically achievable

And then what? How long is meme inflation good for? AMC managed to issue stock to cash in; how long would it have been before GME's management sold out and also did a share issue?

> variant of the prisoner's dilemma

It's an amazing one where you can meet someone on the virtual street, con them into working with you, defect against them, and leave them worse off.

Re:Reddit’s ‘GMEBagHoldersClub’ Is Where GameStop Stock Buye... by mckirk on Saturday February 06, 2021 @08:40AM (#26046415)
> And then what?

And then, I suppose, the expectation was to sell most shares to desperate hedge funds and maybe keep one or two because you actually like GameStop. The idealistic and completely unrealistic narrative being that it would only be short sellers that pay for the redditor's profits, of course. I think GME wouldn't really have had the opportunity to capitalize on the situation, because them issuing shares would have angered basically 95% of reddit -- and if you're dependant on gamer's liking you, that would probably be a death sentence.

> con them into working with you

I'm not sure how much active misleading was going on, when the narrative that most people believed allowed for motivating people to buy/hold without any nefarious motives.