Shapiro… Ben Shapiro. Here we go again… *sigh*

Okay, look at the pic above. Ready? Okay, now consider what he says:

>“fundamental misconception that the stock market is merely a casino”

I mean…. the Stock Market really does functions in ways which mimic those of a Casino. And if anything, the Gamestop connundrum just further proved that fact.

On a glance, Shapiro commits two major fallacies:

• “Ought to” VS “is”: Shapiro frames is argument by highlighting what the stock market is supposed to be for. But the reality – which is the playing field at which we operate – is that, right now, the Stock Market is nothing but a glorified casino.
  
• Does not apply to Short Selling: All shorts do is actively betting against companies and incentivizing the spreading of negative publicity. Which lets face it is basically all the stock market amounts to nowadays, hype and rumor and getting some big name to start a trend and then capitalize on it.
  

There is no reason from a “fundamentals” perspective why Tesla is suddenly 4 times as valuable as it was half a year ago. Nothing about the market, the environment or whatever underlies their operation has changed correspondingly to explain why that company is now seen as having quadruple the worth it used to have. It’s 90% rumor-spreading.: Insider deals and elites moving bits and pieces around – in unethical and exploitative ways – with only a marginal connection to utility or the actual material factors underlying the firm.