The rich who were selling at the time wouldn’t have sold at a loss (they would be those who bought while the price was even lower at another point in time, which could have been this year since in January or was trading at ~250 and it dropped to ~290 due to this week’s events), other rich people bought the dip and sold the same day to day traders trying to make a quick buck.
Comment on Cloudstrike's stock price waiting for the markets to open
Excrubulent@slrpnk.net 5 months ago“Rich people made money” is a given under capitalism, it’s just a question of how.
In this case it’s called disaster capitalism. Any disaster or crisis, no matter how small, creates an imbalance and flow of resources, and capitalism is set up to funnel that flow to the already wealthy.
As to the details of the specific case, the other answer you got seems to know more than me about it.
Kecessa@sh.itjust.works 5 months ago
KevonLooney@lemm.ee 5 months ago
You are using big words to try to sound smart, without understanding the specific details of the situation. There’s more than one group of “rich people” trading in the early market. Some are buying and others are selling. They are just moving money back and forth within the same “class” (as you understand it).
The other guy is wrong because in a situation like this there are very few buyers in the early market. He focuses only on the “rich” buyers and ignores the larger group of “rich” sellers trying to get rid of their shares. It’s much more likely that most “rich” sellers waited until the market opened because they didn’t want to sell while it was thinly traded.
So if you care about “classes”, the “rich” generally lost money because the company they already own went down in value. Maybe a few people bought at the bottom and sold when it went higher, but that was neither a large percent of “rich” investors nor a guaranteed return.
I’m explaining it to you because the other comment has a low level understanding of the specifics, while you admit you don’t understand. It’s more dangerous to think you understand something than to know your limits. I can trade in early / late markets but don’t because they have no one else there. The market has few other participants and that makes it too choppy.
Excrubulent@slrpnk.net 5 months ago
I use my words to communicate my thoughts the best I can. If you think you can read my mind and tell me otherwise then I believe you don’t understand how reality works on a very basic level and thus your assessment of reality is worth very little to me.
If you want to teach me something you can prove it by linking me something verifiable. I’m not listening to someone who thinks they’re psychic.
I don’t hold out hope for your reply, sorry to say. You went on the offensive so fast and I’m not being terribly friendly about it, so I doubt you’ll change course.