Looking at a couple hours of a stock means nothing and is purposely misleading. Zoom out and it's got pretty good upward consistency.
Posts like this are like the sad ex who can't move on and just makes up bullshit about their former partner. Let's move on and make Lemmy better instead of being stuck making up fake news for internet points.
I do this all the time in my reports to execs. If they're not paying attention to something I've been raising, I zoom the y axis in to show big up and down ticks in a visually alarming way. Similarly if they're obsessed with something stupid, I zoom out and show a much more flatlined and consistent graph so they get the big picture.
Facebook stock had a notoriously horrible IPO. I bought at open and had friends laughing at me when it went to $18ish. I doubled my position.
Finally sold most of those shares at $475.
They already pumped it and dumped, you're seeing the after effect now.
God, please don't turn Lemmy into "haha reddit stock goes down" literally any time their stock fluctuates.
A similar thing happened with one of my favourite podcasts: Tech Won't Save Us. They just started crowing about what a craven loser Elon Musk was at every opportunity. And it really sucked all the life out of the podcast for me. Like it used to be super interesting, well researched, broad, hopeful; and suddenly it seemed to only be about dunking on billionaires.
Which, deserved. But I don't want to hear about Musk's stupid machinations while I'm doing food prep. I want to hear about something cool, like collective action in India.
Maybe I'm in the minority though. Or maybe it's gotten better by now. Idk
They probably noticed a huge bump in numbers in the episodes where they shit on Elon. There's a weird dynamic where toxic shit partially maintains it's popularity because content that focuses on debunking it gets eaten up. So 'sane' creators have to decide between creating interesting things or repeatedly dunking on some toxic shit that it grows their platform.
It's kinda how I feel about any shitty person that gets clowned on. At some point it's just like "yeah, we all know this person is a POS, what else is new".
Right, if all you talk about is the shit Elon is doing, you're really no better than a fanboy of his.
I think they've just had the IPO, that's why we see it. But I wouldn't worry in the long term unless something major happens, but that applies to any major social media.
Truth Social should be next
I ponder who the fuck is buying truth social. That is the puzzling part to me.
Very wealthy people who want to transfer money to Trump outside of legal channels in exchange for favors political favors.
Dumbass Republicans with their dad's oil inheritance
Anyway
Get back to us in 6 months and we'll see how it's going. I have low expectations. Somehow capitalism always finds a way to propagate itself, no matter how little sense it makes.
OP: *post on c\shitposting *
Nerds: actually, the valuation from the IPO have being up 20%, and you can't evaluate an stock from its movements on a couple of hours.
What a misleading post, it's up a lot apparently.Down to 48 something now.
You can't be up from a number you set yourself
Extremely volatile, as anyone expected. Since they started the IPO at $34 things aren't going bad at all so far.
Give it a year, and we'll see what the company's actually worth.
Wheeeeeeeeeeeeeeeeeeee
Gonads and strife
(plz keep giving me reasons to use this it brings me joy)
...And nothing of value was lost.
Great penny stock next week
🎵It all returns to nothing.
It all comes tumbling down tumbling down tumbling down🎵
Eat shit and sink. Stupid fuckers.
Can the kids in the stocks subreddits do a reverse GameStop on this?
Would just be hilarious if this thing went to zero in the first month.
OP shorted it and is trying to wag the dog
Now, do yesterday!
This happens to almost every single IPO ever...
