We all regularly decide on the most evil companies and invest against them
Posted by Critical-Volume2360@reddit | CrazyIdeas | View on Reddit | 11 comments
I was thinking about the gamestop thing from reddit a while back, and how they were able to reck a bunch of people short selling the stock for that store.
I bet we could do a similar thing, like once or twice a year we all decide on the most evil company, and then invest in their competitor. We could also short sell them, but i think that would scare companies away from being publicly traded, which could be very bad.
But I think if we all bought like 10 dollars of their competitor, then we could really hurt them. Especially if money people noticed and started investing with us.
Idiot_of_Babel@reddit
They tried this on r/wallstreetbets with GameStop during COVID.
Robinhood (popular trading app at the time) started interfering, blocking users from investing.
The house always wins.
JuZNyC@reddit
That was the reason I swapped from Robinhood to Fidelity, lost about $12000 in potential gains because Robinhood blocked me from selling.
HotCommission7325@reddit
Buying stock on the open market has zero impact on a company. This wouldn’t work the way you think.
The GameStop think was some sketchy finance companies getting wrecked by basically betting against the stock price.
So you might be able to wreck some more sketchy banks, but like buying Pepsi stock doesn’t benefit Pepsi/hurt Coke in anyway.
godkingnaoki@reddit
That's not correct. Market capitalization helps companies get loans, protects from buyouts, and keeps your management from being fired by shareholders. Then there's the obvious money to be made issuing new stock.
Doug2825@reddit
You are technically correct, but given how many people online think short attacks can kill profitable companies (which I am guessing the creator of this post believes based on vibes) HotCommision's explaination is a more useful way more most people to think about it
Downtown_Boot_3486@reddit
We'd all get screwed, Gamestop worked cause all the big players had short positions they couldn't pull out of without taking a huge loss and all the players invested in Games top were making money.
If you invest a bunch into a company where loads of big players aren't shorting it but are invested instead, then when the stock price spikes the big players will sell and they'll profit off of all of us.
only_a_jest@reddit
I actually love this. Everyone on Reddit is unhappy about the system anyway, so why not coordinate for good and actually make some change? (And maybe money)
Just gotta make it a challenge or exploit our inherent instinct to be massive nerds.
only_a_jest@reddit
Okay what if a small laboratory made videos following the journey of an animal getting cured of a disease in a trial of a new drug. The animal then gets famous. We all fund that lab so they can proceed in more clinical trials and release the medication with no patent. Win for everyone?
Maybe that’s too off topic. I don’t know of any small labs like that.
Maybe a game development studio to prevent them from being bought by Microsoft or something?
Come on, someone help me out. I can come up with causes, but I don’t know what’s publicly traded
MaleficentFuel8558@reddit
Hmm
limbodog@reddit
I think it's actually pretty hard to choose a "most evil" company. Usually it depends on context a great deal. And the context probably changes a lot based on where you live. Like the company that poisoned the water supply in your city would easily be #1. But for people elsewhere it's the one that's tripling everyone's rent, and for yet others it is the one that is gouging folks for critical medicine, etc.
I imagine you could just have a big contest for worst company with elimination rounds. But then people start digging for info to get their most hated to the top, and the numbers change rapidly.
web_of_french_fries@reddit
There’s no way this wouldn’t be used as a pump and dump scheme, probably by the mega corps you’re going against