Gamestop
- Thread starter Bonerfarts
- Start date
I guess they should have covered their positions earlier. Are these shorts trying to wait out the investors running up the current price or do they have assurances from somewhere else that they’ll be bailed out of their predicament eventually?
It’s not all the same shorts. People are taking over the shorts at higher prices.
Interesting, that's another wrinkle. Anyone interested in some really nice tulip bulbs? They're of the highest quality and in very high demand.
I just heard on CNBC that Robinhood is limiting trading on 50+ stocks? GameStop and AMC but also big names like GM, Starbucks, etc?
Why would anyone stay with this platform at this point?
Why would anyone stay with this platform at this point?
I’ll trade you some dot-com stock. Trust me, it’s legit. 💩🙌
I wonder if it changes things from a regulatory/ oversight momentum perspective to have foreign nationals openly trying to crash US financial companies/market?
I figure it can easily be packaged as a justification - easier to sell national security than battling the stock bros.
Weird that buying a stock at an obscenely elevated price is seen as trying to crash the markets vs the people that actually the markets in this place by trying to bankrupt the stock of a company through huge naked shorts.
The result of this is there’s gonna be fewer people with a lot more of the money. Once a bunch of the hedge funds split town and move on to other less risky moves, those few that hang around are going to FEAST.
WSBs updated a “who we are” post and there’s some great stuff in there. It’s a few greatest hits/misses collection, many I had forgot about. This guy that lost his life savings on seasonal ornamental gourd futures 😂. The site is anything but pump and dumps.
How is tweeting this stuff out not illegal? It's massive market manipulation. What are the rules with regard to social media these days?
It is the very definition of a coordinated effort to manipulate stock prices via a ramp scheme. Illegal.
Not MJ - he might cry again! I bet Lebron isn’t losing money.
basketballforever.com
Michael Jordan Caught in Middle of GameStop Trading War
Michael Jordan is bleeding money after finding himself in the middle of the Reddit-fuelled GameStop trading war that has stunned Wall Street.Jordan could not have picked a worse time to welcome he
Corporate executives reap millions from Reddit stock frenzy — CBS News
Stock sales by GameStop and BlackBerry insiders raise questions about their comp. "It's pay for luck," one expert said.
A great listen. I’ve been subscribed to this podcast for awhile, I recommend if you have some free time. These guys are best friends and Jason Calacanis is an Angel Investor for Robinhood. He and Chamath get down to the brass tax over this week. Plenty of good opinions and ideas.
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Robinhood’s Meteoric Rise Feels the Pull of Wall Street Physics
Robinhood Markets’ emergency ban on trading eight stocks this week ignited rage across the political spectrum, swiftly drew state and federal scrutiny and sent furious customers into the arms of competitors.
www.bloomberg.com
UPDATE: GameStop shareholder sells off stake valued at over $1 billion
This was posted 143 days ago. To all this that think Reddit is a bunch of stupid 19 year olds that attempt to pump and dump, this is a wake up call. 99% of WSB is jokes and memes and disinformation, but you can find truly great info if you want. This was out there for all to see, I bought and held for earnings, when that didn’t pan out I sold. Damn.
Not being allowed to make trades feels pretty high up on the list of reasons to pan a trading app.
"To be clear, this will happen whether or not we participate. I prefer us idiots to be a part of history."
I wonder how much WSB actually factors into this runup. I know they do some, but its not 100% like it is being portrayed. There has to be some major players in this. But they deserve some huge credit for identifying that this was about to blow.
Hopefully this excess shorting of companies fades away. (I’m not so sure)
My only regret is that the Reddit forum I used to get tips is now flooded. Any info I get from them, everyone else will have.
I've lurked r/wsb for years. This has been really fun, but I'd rather have the sub back to the way it was. It's sort of like when a couple league mates discovered r/fantasyfootball and I stopped having an info edge.
Here’s the DFV guy that’s now a multi-millionaire. He seems like a good guy, a Youtuber, previously lower middle class with a family. I think he is more of a spectator that got very lucky but put himself in position to get very lucky. I suspect there are much bigger players involved than just the message board army but i guess it could be the social media echo chamber.
I now understand the major bull thesis and why it started in January (short squeeze aside). Basically the theory is Ryan Cohen is a bit of an ecommerce savant and his team is joining the GME board this month. The theory is RC is going to take a brick and mortar GME and turn it into an Amazon (or Netflix) for gaming. GME is more of a shell company for RC with a good brand name. It would be like Elon Musk buying Ford. The last reported online sales in January were up over 300%. RC added substantially to his stake at $16 or so this month and owns over 12%.
So this stock has quickly changed from a deep value stock to a growth stock. Almost like a hot ipo meets epic short squeeze, internet sensation. In short GME has a real story which goes a long way in a bubble but the verdict is still out whether it will work.
No idea what happens with this stock in the mean time, probably continued crazy volatility. Maybe this will break some hedge funds and cause a major market correction.
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Read a story in sat. Wall St Journal that focused on Keith Gill, the deep value guy who promoted gme early. Showed his e-trade account to the reporter...had a 20 million gain on Wed., then lost 15 million on Thurs. Probably gained back around 10 million on Friday to put his balance at around 43 million.
Says he is just a normal 33 yr old family man with a sharp eye for undervalued stocks.
Says he is just a normal 33 yr old family man with a sharp eye for undervalued stocks.
Not going to re read to find out who, but someone on HROT called this
