“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.
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.
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.
“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.
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.
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.