Buttcoin

417 readers

1 users here now

Buttcoin is the future of online butts. Buttcoin is a peer-to-peer butt. Peer-to-peer means that no central authority issues new butts or tracks butts.

A community for hurling ordure at cryptocurrency/blockchain dweebs of all sorts. We are only here for debate as long as it amuses us. Meme stocks are also on topic.

founded 1 year ago

MODERATORS

[email protected]

meme stock of the moment: Trump Social. suckers: guess (awful.systems)

submitted 8 months ago by [email protected] to c/[email protected]

4 comments fedilink hide all child comments

Matt Levine writes up the quick version: https://archive.is/CqhKk
Washington Post talks to the "small investors" who Trump and friends are skinning: https://archive.is/SkiZl needless to say they know The Donald will save them

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 6 points 8 months ago

Or I guess a model for a meme stock could go something like this. It starts with a burst of attention: In Trump Media’s case, the stock soared in October 2021, when the special purpose acquisition company first announced (the existence of and) its merger with Trump Media, and then again in January 2024, when the merger looked likely to close, and in March, when it did. And these bursts of attention took Trump Media’s stock price way, way, way, way, way beyond what seemed to be justified by its fundamentals (as a money-losing company with $4 million of revenue). That is sort of the definition of a meme stock.