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Okay. I’ve been watching this a long time. I remember the era of wild conspiracy theories — crash bandicoot, anyone? uno cat hands? — perfectly. There were a LOT of ideas, a lot of date anchoring, a lot of straight-up tinfoil theories. Most of these tinfoil theories, of course, wound up being completely made up —
And yet, I constantly see people now giving them credit as if they’d actually happened. RC also seems to get a ton of credit for stuff that never actually wound up happening.
And even worse, these tinfoil theories were a large part of the reason why so many people gave so much money directly to the hedge funds by buying ridiculous OTM options (remember $800 options contracts?) for arbitrary strike dates based on memes, vibes, and date anchoring.
If it’s pissing you off to read this, then good. Prove me wrong to roll my eyes at 741!
Please, somebody, give us all the history of “741,” the methodology behind it, and explain what it means, why it’s relevant, and why it’s a legitimate mathematical talking point instead of a tinfoil conspiracy (partly based on the hypothesis of RC tweeting a certain number of times over a certain amount of time, which… did not wind up actually happening).
Go ahead. Please! It’ll give us all what seems to be a very necessary history refresher as GameStop progresses to their next phase as a business.
It means brokers failing I think SuperStonk covered this subject before
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