[cogman10]

This all assumes there was some skill involved. Instead, this along with gamestop and a few other meme stocks are showing that the stock market simply isn't as rational as finance experts have wanted to pretend.

This is a bitcoin stock market. Things are valued entirely based on what others are willing to buy for. They are not valued based on any attribute of the underlying asset. Exactly like bitcoin, it's whim and whimsy which is driving prices.

It's group gambling at this point. Everyone is betting that there won't be a run on the market.

[_DeadFred_]

It has always been gambling. The non-gambling version was grandma holding dividend stocks. Any stock that isn't one you buy for dividends is gambling. The whole point of index funds is spread out the odds.

[glimshe]

Everything is valued by what people are willing to pay for it.

[cogman10]

The myth of the stock market was that value was tied to the performance or potential of the company whose ownership you were taking a part of.

[twiceaday]

Value is tied to how people assess value. They used to assess it on the performance or potential of the company whose ownership you were taking a part of. Now speculation plays a much bigger role. This seems predictably correlated with distance to last deep crash.