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The Long and Short of Raison d'être.
Collins Dictionary: [A] person's or organization's raison d'etre is the MOST IMPORTANT reason for them existing in the way that they do. (emphasis added)
It’s a profoundly meaningful definition.
Let's muse on raison d'être in the context of the epic tug-of-war raging between longs and shorts, particularly in AMC and GME. (I’m long on both.)
THE SHORTS
What is the shorts’ raison d'être for viciously attacking the share price of GME and AMC every single trading day?
This extraordinarily bellicose behavior is transparently visible in the light of day to anyone who cares to look – as I've been doing for months.
Is it merely to make money on the short positions? Nope!
Is it to drive these companies into bankruptcy? If so, what's the business case? Millions of customers in the U.S. and globally (many shareholders) are passionately supportive of these businesses, their reinvention, and their vital and much-loved role in the cultural fabric of our lives. Why drive these companies into bankruptcy? Ah -- perhaps to get away scot-free on the short positions? Yes, we've sniffed that out despite the whole unwashed thing.
Is it to artificially, improperly, and likely illegally suppress the share price despite buy orders exceeding sell orders every single trading day? Why? Isn't the share price of a publicly listed company supposed to be the distilled representation of what a vast majority of its investors believe the price should be? If you didn't know, individual shareholders probably own MORE than 100% of AMC's public float today. Is that MAJORITY enough??
THE LONGS
Let's address the elephant in the room right away!
Critics say the GME & AMC longs' raison d'être is to force a short squeeze. BULLSHIT! Jumping into a trade because of a substantial squeeze potential is as much a valid and intelligent trading strategy as a legal short trade.
Second, nothing wrong in seeking massive returns on investment. If that's not your investment goal, then I'll go out on a limb and give you both financial and mental health advice:
1. Get out of the stock market.
2. Get your head checked.
No, the longs' raison d'être for sticking with these trades despite enduring deeply troubling market practices employed by the shorts is the most important reason I've stepped forward and added my voice to the collective chorus.
It's to express genuine misgivings about the systemic, widespread, extremely troubling, and likely illegal practices, including possibly naked shorting and related printing of synthetic shares, plaguing not only AMC & GME -- but far beyond that.
THE SEC
The SEC's raison d'être appears on its website: “The mission of the SEC is to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. The SEC strives to promote a market environment that is worthy of the public's trust.”
Well, respected SEC, the public’s trust is broken. Please, step up and fix it.
Avi