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GME’s market cap is still in the low billions after the bubble, it’s not even .1% of the market.
by jiofih 6y ago
GME’s market cap is still in the low billions after the bubble, it’s not even .1% of the market.
- sangnoir 6y agoIn a volatile market - a single share may trade many times a day - and Robinhood has to have enough to cover each trade (not share) - so the market cap is not a ceiling. It's likely RH didn't have enough money to adequately cover the levels of volatility (or they projected they wouldn't, soon).
- jiofih 6y agoApple alone had a volume of 170M on Friday, for a total of $0.9B cover required, GME had 50M or $10B cover needed at ~$200. There would have to be an insane ratio of meme-stock trading vs SP500 for GME alone to impact their cash requirements - if that’s the case it seems they dug their own grave...