• atzanteol@sh.itjust.works
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    2 months ago

    I’m not one to typically whine about “late stage capitalism” but there are definitely some issues with the system when stocks like DJT and TSLA can be worth billions despite obvious corporate failings just due to the charisma of their figurehead.

    Like - how is it that we make a guy a multi-billionaire just for being an asshole? In what world is that “just”?

    • ArbiterXero@lemmy.world
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      2 months ago

      That’s the gimmick…. They’re worth billions “in theory” based on the last known price times the number of shares available.

      …… but it’s only actually worth what someone will pay for it……

      So the second they go to sell, they’ll find out that the “last sale price” was wildly inflated.

      Sometimes they take small handfuls and sell it to “themselves “ to try and make it look like the stock is moving and selling for higher than it’s actually worth.

      This is the difference between “on paper” and “liquidity”