🛑 GME / AMC Update 🛑
- Thread starter Phenomenally Frantastic
- Start date
A must watch interview with Wes Christian. Prepare to have your effing mind blown.
Like Marshawn said.... over and over and over and over and over and over.
Like Marshawn said.... over and over and over and over and over and over.
What is “spoofing?”
www.trlm.com
What is “layering?”
en.wikipedia.org
Answer: financial terrorism
Happens every day and the SEC does jack shit. The stock market is definitely most certainly 100% a rigged casino, run by parties who collude to fleece investors.
What is spoofing? - Trillium Management, LLC
Introduction to Spoofing QUICK DEFINITION: Spoofing is the act of entering visible non-bona fide orders with the intent to mislead other traders as to the true level of supply or demand in the market.
What is “layering?”
Layering (finance) - Wikipedia
Answer: financial terrorism
Happens every day and the SEC does jack shit. The stock market is definitely most certainly 100% a rigged casino, run by parties who collude to fleece investors.
https://www.reddit.com/r/amcstock/comments/nvmt1l/holy_****ing_shit_apes_this_needs_to_be_seen_by/
On June 1st, Mudrick Capital went from hero to zero in the eyes of Reddit's Wall Street Bets rebels as the hedge fund scooped up $230 million in newly issued stock at an above market price ($27.12), prompting Redditors to herald the fund as the company's savior and sparking a bullish move in the stock - now that the firm was (marginally) better capitalized.
a
Just a few short hours later, a Bloomberg headline knocked the firm off their ivory tower to the moon as Redditors described them as “losers,” “scum bags” and “a large waving pile of s—t with no future," after the fund exited all of their equity position at $32 (a heroic trade making over $40 million in hours that upset the buy-and-hold frenzied WSB crowd). One Reddit post summed up their attitude to the fund's quick profit... “Mudrick didn’t stab AMC in the back…They shot themselves in the foot.”
That is where the story ended for many...
But now, as The Wall Street Journal reports, things didn't work out quite as well as Mudrick hoped and Redditors will get some schadenfreude payback...
It turns out that inside Mudrick, executives were growing apprehensive and the firm’s risk committee met on the evening of June 1 and decided to exit all debt and derivative positions the following day (only the cash equity position had been exited prior).
However, as WSJ notes, that was one day too late.
As it happens that among that set of derivatives positions, Mr. Mudrick had sold call options on AMC stock, producing immediate income to offset some potential losses if the theater chain did face problems (or as some might say 'picking up pennies in front a steamroller'). The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40 (viewed as a seeming improbability when the stock was trading below $10).
In overnight trading, AMC started to accelerate above $40... and within minutes of the open the next day had screamed up above $70 - sparking a massive surge in the price of those 'sold' call options, leaving Mudrick with a major loss...
The loss on the sold options, it turns out, was big enough to not only erase the gains, it left the previously heroic-looking trader looking like the biggest loser.
WSJ reports that Mudrick Capital made a 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.
Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.
We can only imagine the reaction the WSB crowd once they find out about this.
a
Just a few short hours later, a Bloomberg headline knocked the firm off their ivory tower to the moon as Redditors described them as “losers,” “scum bags” and “a large waving pile of s—t with no future," after the fund exited all of their equity position at $32 (a heroic trade making over $40 million in hours that upset the buy-and-hold frenzied WSB crowd). One Reddit post summed up their attitude to the fund's quick profit... “Mudrick didn’t stab AMC in the back…They shot themselves in the foot.”
That is where the story ended for many...
But now, as The Wall Street Journal reports, things didn't work out quite as well as Mudrick hoped and Redditors will get some schadenfreude payback...
It turns out that inside Mudrick, executives were growing apprehensive and the firm’s risk committee met on the evening of June 1 and decided to exit all debt and derivative positions the following day (only the cash equity position had been exited prior).
However, as WSJ notes, that was one day too late.
As it happens that among that set of derivatives positions, Mr. Mudrick had sold call options on AMC stock, producing immediate income to offset some potential losses if the theater chain did face problems (or as some might say 'picking up pennies in front a steamroller'). The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40 (viewed as a seeming improbability when the stock was trading below $10).
In overnight trading, AMC started to accelerate above $40... and within minutes of the open the next day had screamed up above $70 - sparking a massive surge in the price of those 'sold' call options, leaving Mudrick with a major loss...
The loss on the sold options, it turns out, was big enough to not only erase the gains, it left the previously heroic-looking trader looking like the biggest loser.
WSJ reports that Mudrick Capital made a 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.
Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.
We can only imagine the reaction the WSB crowd once they find out about this.
More like an oversupply of irrational exuberance on shorting.
“A person close to the fund said the decision to shut was unrelated to the meme stock rally. The fund quickly rebounded in the wake of January’s turmoil and made back “a fair share” of the losses, the person added.”
LOL. Was this person the fund managers mom?
LOL. Was this person the fund managers mom?
Wonder if this thing has legs…
Citadel El Salvador allegedly raided. Who knows Spanish?
www.eluniverso.com
Citadel El Salvador allegedly raided. Who knows Spanish?
Allanan las empresas Decevale y Citadel por el delito de falsedad de informaciĂłn en el sistema de mercado de valores | PolĂtica | Noticias | El Universo
El operativo se realiza en las oficinas de ambas empresas, ubicadas en el centro de Guayaquil.
The same El Salvador that made bitcoin legal tender.Wonder if this thing has legs…
Citadel El Salvador allegedly raided. Who knows Spanish?
Allanan las empresas Decevale y Citadel por el delito de falsedad de informaciĂłn en el sistema de mercado de valores | PolĂtica | Noticias | El Universo
El operativo se realiza en las oficinas de ambas empresas, ubicadas en el centro de Guayaquil.
Interesting.
Seems like block chain would put an end shenanigans about who is really holding a stock.
Off topic....
But, my companies stock is just under 69.69 now!
But, my companies stock is just under 69.69 now!
I dunno, ask the Feds.
Feds Seized Robinhood CEO's Phone in GameStop Trading Halt Investigation
Robinhood says it is being widely investigated over its role in January's GameStop bonanza; is subject to at least 49 class action lawsuits.
www.vice.com
The company also said it is under investigation by a series of regulators, state attorneys general, the SEC, and the U.S. Department of Justice in proceedings associated with the trading restrictions; the company said its CEO Vladimir Tenev has also had his cell phone seized by federal attorneys.
