Pretty sure I saw some article saying one share could be worth 24 million a few days ago? Meh. Lot of crayon eating and math involved. Love math. And crayons. I don’t care if it’s worth $0. Never selling.
It’s one thing to have a share be “valued” at $1m. It’s another to have a buyer (Citadel) for that share... it’s highly unlikely. reminds me of when the price of crude went negative for a hot minute or so. Nobody paid anyone to give oil away. If anything GameStop may work out a deal with Citadel where they split shares or dedicate new shares exclusively to Citadel. Illegal? Idk... but fucked up nonetheless
Nobody is ever forced to do anything these days... look at when this whole GME thing started. Peoples shares were being liquidated against their will at major losses because Citadel came on TV and was literally crying about what’s going on. Then we saw that everyone other than us retail investors sided with Citadel
A firm like this would most likely file bankruptcy and restructure before you received anything near a ridiculous asking price, although some may get lucky
Being forced to hold oil (storage) vs I’ll give it away to for free, rather ill pay you to take it are 2 different things. If that was the case, you’d see virtually free gasoline just to move it. But the lowest I saw gasoline was like $1.35/gal or so. Far from negative (pay me to fuel up my car)
I oversimplified, people were being paid to hold/store the oil by the people that had the oil. The people that had the oil were able to profit more by holding the oil short term (and incurring an expense in storing it) and selling it once the market came back. So, no people were not paying others to take their oil, that would be silly, but they were paying others to store it.
Pretty sure I saw some article saying one share could be worth 24 million a few days ago? Meh. Lot of crayon eating and math involved. Love math. And crayons. I don’t care if it’s worth $0. Never selling.
Lol, I think I’d be selling if one share went that high?
It’s one thing to have a share be “valued” at $1m. It’s another to have a buyer (Citadel) for that share... it’s highly unlikely. reminds me of when the price of crude went negative for a hot minute or so. Nobody paid anyone to give oil away. If anything GameStop may work out a deal with Citadel where they split shares or dedicate new shares exclusively to Citadel. Illegal? Idk... but fucked up nonetheless
Except in this scenario, Citadel is forced to buy. If it goes to a million, they must cover and have to pay the million.
It would be more beneficial for GameStop to not work out a deal, but who knows?
Nobody is ever forced to do anything these days... look at when this whole GME thing started. Peoples shares were being liquidated against their will at major losses because Citadel came on TV and was literally crying about what’s going on. Then we saw that everyone other than us retail investors sided with Citadel
A firm like this would most likely file bankruptcy and restructure before you received anything near a ridiculous asking price, although some may get lucky
Except people were getting paid to hold oil when prices went negative...
Being forced to hold oil (storage) vs I’ll give it away to for free, rather ill pay you to take it are 2 different things. If that was the case, you’d see virtually free gasoline just to move it. But the lowest I saw gasoline was like $1.35/gal or so. Far from negative (pay me to fuel up my car)
I oversimplified, people were being paid to hold/store the oil by the people that had the oil. The people that had the oil were able to profit more by holding the oil short term (and incurring an expense in storing it) and selling it once the market came back. So, no people were not paying others to take their oil, that would be silly, but they were paying others to store it.