If Ryan Cohen took a salary in that leauge the bear thesis would still be alive and the turnaround of GameStop might never happen (or be significantly delayed). My executive chairman has other plans 🙌

  • The Snark Urge@lemmy.world
    link
    fedilink
    English
    arrow-up
    3
    ·
    1 year ago

    I agree more than I disagree actually, but the nuance I’d add is that I think share price should be much less of a focus than company profitability and dividends, as the whole point of owning stock is in owning the excess profits. Trading firms have made the markets into a casino while low Fed rates have made actual profitability more of a side quest for most publicly traded companies. Look at Rivian, nearly worth a trillion dollars before they even had full production? Ludicrous speculation at the cost of everything is the main course for most traders.

    Aside from discussing the urgent need for market reforms to make sure companies trade more closely to their fundamental value, I spend more of my time worrying about customers and workers as well. We have a nation addicted to literal slavery through the 13th amendment, it’s a disgrace. Putting more people in prison is literally in the interest of certain for-profit prison company shareholders. It’s sick.