Wolf has fun with a fake IPO based on a small Vietnamese auto company. The owner created a huge number of shares and manipulated the meme stock bros to jack the “market cap” up to 216 billion for a few days. The meme bros stole as much as they could from the sucker bros, and then allowed the value to collapse to its true zero.
Random metrology thought: These numbers shouldn’t be called “market cap”. The term implies that the shares are available for anyone to buy and sell in the market. In this case only a tiny handful of the shares were actually tradable, while 99.7% of them remained under the control of the owner.
Other areas of commerce have strict controls on weights and measures. Produce scales in stores are checked, and gas pump liquid measuring systems are checked. Canned and boxed products must list their net weight. Campbells isn’t allowed to label the “market weight” of a soup can as 90 pounds, so a stock fraudster (by which I mean ALL STOCK TRADERS) shouldn’t be allowed to list the “market value” of a share as $90 when the true salable value is exactly zero.
Polistra's Mill 