"Inconceivable!" Few things could symbolize "the YOLO Stock Market" better than the successful issuance of worthless stock by a company that is already in bank

"Inconceivable!" Few things could symbolize "the YOLO Stock Market" better than the successful issuance of worthless stock by a company that is already in bankruptcy after it has explicitly warned in the prospectus that its stock is worthless unless there is an "unanticipated improvement in business conditions." Boring details such as "how much is this worth?" or "does it have any value?" or "who gets what in this bankruptcy?" are evidently irrelevant to the buyers of the stock, who must be trying to "beat the gun," as J. M. Keynes described it nine decades ago[a] -- or maybe they just want to burn money with reckless courage and abandon as a novel form of conceptual performance art? [a] See also https://news.ycombinator.com/item?id=23517657 https://news.ycombinator.com/item?id=23517657 and https://news.ycombinator.com/item?id=23515797 https://news.ycombinator.com/item?id=23515797 .