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Diane 🕵

@rbreich

Also I think the stock market is likely overvalued, probably because so many retirement programs are now just funneling money into the stock market which inflates stock prices.

Also the way we calculate net worth by multiplying the last share price times total number of shares likely vastly overestimates the value of a company. If large numbers of shares were sold the price per share would almost certainly fall.

22 Apr 2023 at 17:06 | Wall-to-wall | Open on octodon.social
5 comments
James M.

@alienghic @rbreich but they're not sold all at once, for that very reason. They're sold in controlled small batches.

22 Apr 2023 at 17:10 | Open on sfba.social
Diane 🕵

@jamesmarshall @rbreich

It really depends on how demand works. How likely is a third party to decide they have enough exposure to some company? Is there an upper limit to the number of shares someone wants to buy of company X?

And I sort of assume so?

Also since it's mostly rich people buying the large batches of stocks a wealth tax would also force the rich people buying other companies to sell off some of their stock.

Admittedly spreading ownership of companies out more would probably be more democratic. A bunch of twitter's (or facebooks) problems are because there's no one who can check the owner (or CEO) who controls the majority of the voting shares.

@jamesmarshall @rbreich

It really depends on how demand works. How likely is a third party to decide they have enough exposure to some company? Is there an upper limit to the number of shares someone wants to buy of company X?

And I sort of assume so?

Also since it's mostly rich people buying the large batches of stocks a wealth tax would also force the rich people buying other companies to sell off some of their stock.

22 Apr 2023 at 17:17 | Open on octodon.social
jabberati

@alienghic @rbreich "Make a company with 100 shares. Sell one to a friend for $10,000. Boom. Instant Millionaire".

22 Apr 2023 at 17:13 | Open on social.anoxinon.de
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