this post was submitted on 19 Aug 2024
251 points (99.2% liked)

Futurology

3159 readers
1 users here now

founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] MajorHavoc@programming.dev 10 points 1 year ago* (last edited 1 year ago)

Yeah. The price boost is from the same day traders looking forward to shorting the stock later.

It baffles me that boards of directors (who ought to have high exposure to the long term stock price) allow this behavior.

I suspect it's because they intend to manipulate the stock price later with a buy-out and because they want to indebt the company to their preferred malicious lender (which they have even more stock in).