Bofferbrauer2 said:
I find it funny that now some of the old guard of traders decry this as gambling. As if the whole wall street, them included ain't gambling on the stock market. The only thing that changed is that they can't guide and thus predict where the stocks are heading... The original reason of shares was to give a company some money in exchange for the buyers to have a word about where the company is heading. Now how many shareholders buy shares to be able to tell the company what to do next? That number tends to zero outside of company acquisitions these days. Pretty much all the rest is simply gambling on where the stocks are heading. It's like a giant roulette table where you can only bet on red or black and analysts have access to a brake underneath the table to ensure the ball drops where they want it to, and are whining now because somebody took their access to the brake. |
BTW on average short sellers manipulate the market a lot more and more constantly than short squeezers, that can only do that when some preconditions come true. Also, short squeezers could even be considered an opposite force balancing short sellers. Yes, most of the criticism looks like the one sided argument of an old oligarchy fearing for its dominant position and its power to abuse it.
