Coming Up Snake Eyes, Part 2

As we said in Part 1, the rips and routs of the meme stocks are just the prequel to the big correction that’s coming to fantastically inflated markets everywhere. In particular, they are a reminder of what happens when markets become completely decoupled from the fundamentals and degenerate into pure eyes-wide-shut gambling joints.

Thus, it was not entirely by coincidence that the 2019-2020 stampede into the stock of the left for dead GameStop (GME) was triggered by a so-called “activist investor” named Ryan Cohen. During August 2019 he bought more than 10% of the gaming retailer’s stock with an activist plan to transform GME into a “technology company” and away form bricks-and-mortar retailing

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