this post was submitted on 20 Dec 2023
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Buttcoin

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Buttcoin is the future of online butts. Buttcoin is a peer-to-peer butt. Peer-to-peer means that no central authority issues new butts or tracks butts.

A community for hurling ordure at cryptocurrency/blockchain dweebs of all sorts. We are only here for debate as long as it amuses us. Meme stocks are also on topic.

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BBBY administrator to meme stock nutcases: The company is dead. It's gone. This is an ex-company. Memestockers: THIS IS A DOUBLE FEINT (old.reddit.com)
submitted 11 months ago* (last edited 11 months ago) by dgerard@awful.systems to c/buttcoin@awful.systems
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[–] self@awful.systems 3 points 11 months ago (1 children)

I know it sounds like copium, but I wonder if this language of "the BBBY shares are worthless and cancelled and not coming back" is a roundabout way of saying "the original securities you bought are not coming back and are worth nothing; however, new securities can be awarded in their place, the value of which is to be determined".

He's being factually correct, which corresponds to the mountains of DD that have been done. Bed Bath and Beyond is no longer a company in the sense that it's branding belongs to Beyond/Overstock and any assets worth carrying over were turned into DK Butterfly, which is effectively just a core accounting department so far as we currently know. Of course, what isn't said is often the most important part of a conversation. While it's true BBBYQ shares were canceled, that's a different conversation than the issuance of new securities.

oh for fuck’s sake, these are both sitting at 33 points

[–] dgerard@awful.systems 4 points 11 months ago

I realised that meme stocks were on-topic here, but we hadn't posted any. The trouble is that the meme stock alternate universe is on so many layers of self-delusion that the lols are very high effort. This one is pretty straightforward though.