WSB vs Wall Street / Gamestop Stock and others blown up by Subreddit

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:lol:
 
It's magical watching capitalism being shafted by itself then getting upset about it.
 
I have been following this story with great fascination.

What if Gamestop insiders sell? Not sure they are allowed to at the moment, but if they do it could be the end of the squeeze. Or at least dampen it.
 
I have been following this story with great fascination.

What if Gamestop insiders sell? Not sure they are allowed to at the moment, but if they do it could be the end of the squeeze. Or at least dampen it.
I've read somewhere that Fidelity/Vanguard and co control 30% in passive investments, and Ryan Cohen has 12%, so almost half of the stocks are unsellable (though Fidelity/Vanguard might rebalance stuff at the end of the month, which means selling some of their stock there).

Shorts can choose to buy from the remaining 60% (a lot of them in hands of WSB) to cover their 100%+ shorting. Not a great position for them, I must admit. If on the other hand, the shorts are already in the hands of big institutions, that's a bit better for Wall Street.
 
One thing I'm finding very funny about all of it, is that the underlying motive of nearly all of these joe public saviours of the free market is greed and personal gain. The Trumper-esque rhetoric about sticking it to the man and blah blah blah, followed by another post talking about how much they're up, and how much they hope to gain from selling. Put any of them in the same position as these evil hedge funds and they're doing the exact same thing. It reeks of hypocrisy.
:lol: :lol: :lol:
 
This image genuinely won't load for me for some reason, but I feel like it's the 'but you take part in the system; I am very smart' meme. Just to be clear, I don't care about what he's doing at all, I'm doing it myself, but let's just be clear about the reasons behind doing it.
 
The memes coming out are just gorgeous...

EszL6o1UcAINCNZ


If I could give any less of a feck about Melvin and Fidelity I would, but I'm a little worried about the retail investors who jumped on the bandwagon late and will likely get murdered when the price inevitably corrects. I hope they're only putting money in they can afford to, just for the shits and giggles.
 
This image genuinely won't load for me for some reason, but I feel like it's the 'but you take part in the system; I am very smart' meme. Just to be clear, I don't care about what he's doing at all, I'm doing it myself, but let's just be clear about the reasons behind doing it.
You sound like a crazy marxist

I have, which will surprise you not a little, been speculating partly in American funds, but more especially in English stocks, which are springing up like mushrooms this year (in furtherance of every imaginable and
unimaginable joint stock enterprise), are forced up to a quite unreasonable level and then, for most part, collapse. In this way, I have made over £400 and, now that the complexity of the political situation affords greater scope, I shall begin all over again. It's a type of operation that makes small demands on one's time, and it's worth while running some risk in order to relieve the enemy of his money."

Karl Marx letter to Lion Philips.
 
There is a mandatory buying of 7M stocks tomorrow if the stock stays above $115. I am not sure who is going to buy it (I assume JPMorgan, but could be wrong) which is gonna set the price up again.

I don't think that Wall Street's pain has already ended. And it is unclear if Melvin has really gone out. They said so yesterday probably to set the price down, after all, that came only a couple of days after they said that 'they do not comment on their holdings'.

How many of the owners of those calls have the cash on hand to exercise them? DFV had $25k of options, but he would need nearly $1m to take delivery, even if they are worth $30m or whatever by now. He could do it but how many of the others can? My guess is whoever took those shorts on is busy buying up any shares they can, including the calls, and probably already built up a decent inventory in advance. They will make money on the massive spreads across all of it.

WSB may be right about Melvin's exit, but there are different ways Melvin could have gotten out without anybody knowing, and it would be putting them on very thin ice to lie about it on live TV. Maybe i'm overly skeptical but this has been well underway for a week now, i think there's every chance some very big, very smart people have figured out how to capitalise on it by now.
 
So Robinhood has now stopped taking bets on GME et al. Interesting, I wonder why.

Here's a thread on a less than altruistic possibility:













 
Sold AMC yesterday - don’t have the nerves. Invested 1.2 got back 3.7 - should’ve been five but a “glitch” in the app caused my sell order to be delayed by 30 mins
 
So Robinhood has now stopped taking bets on GME et al. Interesting, I wonder why.

Here's a thread on a less than altruistic possibility:















I know it goes against the grain of popular opinion but they are protecting themselves here, not the hedge funds. When the price goes back down it will be well below the current price. I have said this already but when it eventually crashes, you will not be able to sell. If you buy in now, you will lose most of your investment. They have a duty to protect their clients and allowing this to happen would open them up to all kinds of scrutiny.
 
GME touched $500 in premarket earlier. It's now 10% down on the Robinhood news. It might get messy today. On the other hand it might just be an opportunity to get in... :devil:
 
I know it goes against the grain of popular opinion but they are protecting themselves here, not the hedge funds. When the price goes back down it will be well below the current price. I have said this already but when it eventually crashes, you will not be able to sell. If you buy in now, you will lose most of your investment. They have a duty to protect their clients and allowing this to happen would open them up to all kinds of scrutiny.

That's a fair point but it strikes me that doing such a thing also coincidentally means that you are only able to sell and in fact helps greatly in precipitating the inflection point. They are attempting to choose the losers, not letting the market decide.
 
The best thing for everyone is if it stabilises for some to get out.

Wonder if we'll get a prolonged trading halt on it today.
 
I don't think anyone can say how any of this will play out, but seeing these restrictions coming to the platforms today, I think the actual 'ministry of dirty tricks' starts today.
 
Just had someone try and complain about this by saying... "This is just some hipster weirdos trying to crash the market / economy." :lol:
 
Robinhood has put a hold on BB and AMC. You can close out your position but not buy anymore. Booooooo

I'm about 300 dollars in the red now but miraculously, American airlines has come through to bridge the deficit
 
Debating going into BB, AMC or even GME. They are all down today by 15-30% from what I can see. Especially in GME's case I would expect to see a big peak tomorrow. Could potentially get out ahead as long as you dont get too greedy and HODL for too long.
 
Debating going into BB, AMC or even GME. They are all down today by 15-30% from what I can see. Especially in GME's case I would expect to see a big peak tomorrow. Could potentially get out ahead as long as you dont get too greedy and HODL for too long.

GME started trading today at 261. It's currently trading at 448 450 454 464

edit: 403

Shit's crazy
 
The memes coming out are just gorgeous...

EszL6o1UcAINCNZ


If I could give any less of a feck about Melvin and Fidelity I would, but I'm a little worried about the retail investors who jumped on the bandwagon late and will likely get murdered when the price inevitably corrects. I hope they're only putting money in they can afford to, just for the shits and giggles.
The memes are the only way I'm gleaning any information from this whole thing because if I try to watch a video on the stock market I zone out.

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They're the same people. They may have different names and live in different houses but they're the same guy.

They went to the same schools and they drink in the same bars. Their sense of entitlement and superiority is the same and their shills on the news networks and online media are reading off the same playsheet.

If you're lumping all financial institutions together - it's the big (institutional) shareholders at the top of register making hundreds of millions, the market makers are making money off both sides too.
 
There was a lot of talk about market manipulation, well, this is market manipulation at its finest.

I hope there is some other app who fecks RobinHood (who obviously are covering for Citadel).
 
Is it normal for the MarketWatch ticker for GME not to be working at all? Every other ticker seems to be fine but GME is getting a 500 page error.
 
Is it normal for the MarketWatch ticker for GME not to be working at all? Every other ticker seems to be fine but GME is getting a 500 page error.

Working now that the circuit breaker kicked in, but was down for 20 minutes before hand.
 
Blocking the likes of NOK as well. The dullest stock I've ever owned and once it starts getting attention, you can't buy more. Manipulation at its finest.
 
I think the people earnestly calling this a rebellion against Wall St are wrong. These are people making money and they enjoy screwing some hedge funds in the process. It's not even like there's *that* much morality separating them. Yes, short sellers, especially in this case, were going to profit off job losses, but (as some WSB-type advice on the original thread here said) - invest in a company facing bad news (for example, that they have sweatshops) and hold medium term. So the goal is to profit off slavery/super-exploited labour.

The thing separating the "two sides" here is institutional power. There was no Robinhood telling the hedge funds that 140% shorts on a stock might not be the most prudent strategy, so for your own sake you should pull out. No frenzied headlines about vultures stripping a company bare, those only come in retrospect in a long feature which nobody reads. No aspersions about the politics of the hedge fund managers (and who knows, many of them are also from the Good Side). All that is dog bites man, world goes on, who cares.

Instead, you have a collection of genuine malcontents raising the alarm about the retail investors (while also ignoring that HFTs and others were involved in this). Meena Harris, Kamala's sister, is a CEO and was a corporate lawyer at Uber as they successfully pushed the biggest threat to labour since right-to-work, and now she's saying that both sides are "bros". TV/papers are literally calling them Nazis among other things. Taken down by Discord, which happily hosted Nazi servers for years, for hate speech. And now by Robinhood, nice name, for their own safety, after Robinhood's business model for years seemed to be to profit off idiots on WSB losing all their money.
 
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How come BlackBerry and Nokia are tanking?
Robinhood (among others) banned buying those stocks. You can only sell them (most likely those stocks get bought from the shorts), which is tanking the price. They did this with GME, NOK, BB, AMC among others.

Obviously, this is total market manipulation and in a perfect world, many people would go to jail for this. Of course, that ain't gonna happen. The same feckers crashed the world economy just to make more money for themselves, and no one went to jail.
 
Good time to buy in?

Depends if you find a broker where you can.

I'm on H&L and they've blocked trading on certain stocks. Including Nokia which I've had on there for a long time.
 
Stupid Questions Round 2: Electric Boogaloo:

Did the legends from Reddit actually manage to force a large venture fund into bankruptcy? And if yes: will the venture fund be able to bounce back(with the help of a bailout or some bullshit like that)?