Please explain it to me like I'm 5 then.
WSB vs Wall Street / Gamestop Stock and others blown up by Subreddit
- Thread starter Kasper
- Start date
Corporations using identity politics as a guise to protect big money interests. Who ever could have predicted such a thing?
WSB down for anyone else?
Meanwhile trading on GME seems to have been halted more than it's been active so far today.
Meanwhile trading on GME seems to have been halted more than it's been active so far today.
Agreed. Put the majority of people in the more powerful position and they would do the same thing, most people don't give a shit at the end of the day.
I think they had a bailout yesterday, or the day before.
This is such an asinine argument that can be used to dismiss pretty much anything.
"Oh you have a problem with unethical work practice? Well if you were a CEO you'd do the same thing you lazy hippy"
"You don't like genocidal policy? Well if you got off your ass and became leader of the country you'd be doing just the same thing"
"Yeah those cops shouldn't have shot that guy, but if you were a cop you'd be doing the same thing"
When celebs and rich folk were getting shit for globetrotting during a global pandemic, I imagine you were one of those saying that nobody could criticise because if they were rich they'd be doing it too
Booooo!
I think they've come out and said that the rumours about filing for bankruptcy were false, but they've taken an incredible hit because of all this.
I actually had a bunch of shares in NOK which I believe is fundementaly a very strong stock.
That said I sold at the bubble and took my share of the pie. I still think NOK is not like amc or gme -- it has proper value but it will grow slow and steady
That said I sold at the bubble and took my share of the pie. I still think NOK is not like amc or gme -- it has proper value but it will grow slow and steady
Melvin capital got shored up by a $3bn infusion from Citadel. Their losses are as massive as they are hilarious. Citadel owns Melvin Capital Management, it also owns Robinhood; the free trading app that has been used by small investors to squeeze the hedge fund shorts. Robinhood has frozen all buying of GME stocks. Join the dots.
Even Ja Rule is pissed
What is NOK these days? Are there countries where the phones still sell well or have they gotten in to another industry?
Melvin is a very shit name for a hedge fund.
I think you will see the new short holders building up inventory in the background via dark pools, stock dumps, calls and other things, and once they're sufficiently covered they will dump the lot on the market and bask in the profits from the remaining shorts.
Could be happening right now.
Same. I had plans to sell in the morning and rebuy on the dip (I missed the pop yesterday, surprised me when I saw it). But I'm frustrated it's been dragged into this with blocked trading when it has legit potential.
It's obviously simplified to offer an accessible idea of the mechanics about what's going, but what about it is inaccurate?
If they bring the price down to less than $115, the bad guys win.
It characterizes the situation as being one hedge fund short. It wasn't just Melvin, they're just the largest. Also Melvin is not declaring bankruptcy at this time, and I don't think there are other stocks shorted anywhere near the 140% of float that was the case in GME. Oh, also the redditor didn't notice a few weeks ago... the first guys started their long positions many months ago.
It's not that there wasn't a short squeeze, or hedge funds weren't absolutely trounced. I just don't like that someone comes in so late and describes the situation incorrectly. You can simplify it without at the same time being inaccurate. Good information exists in earlier posts on this and the other Stocks thread.
Going to be hard to buck that trend downwards, panic selling mode.
Phone business is just a small fraction of their revenues. They're now a big player in the 5g network hardware business, which is pretty lucrative.
I don't think a full halt is called unless there's news to be released, or the exchange wants some clarification of information. I don't know what the rules on volatility limits are, but they haven't been modified for this. These halts are being generated as they would for another other stock that saw these moves.
The longer halts we had back in Feb/Mar when covid started were the rules that relate to the S&P index being down more than a certain amount, then its like a long 15+ minute halt iirc.
Well, panic setting in now. Platforms allowing selling but not buying has done the trick for the money men.
Yes marketwide is 15 minute until it hits level 3 (-20%) then it's gone for the day. Individual stocks i dont know, but GME is lasting about 30 seconds between reopens at the moment.
Good time to buy GME?
Phones is hardly their industry. NOK is mainly a 5G play. A solid company with a ton of cash that is still trusted by big companies when it comes to technology.
I'm not dismissing anything! I just think it's a bit rich for people to pedal the moral aspect of why they are taking part in this. All of your comparisons are fairly insulting and incorrect, you seem to be trying to paint me as a right wing lunatic.
I say just be patient. After this noise is over the stock will and should do well. Like I said NOK (and I believe BB) -- these are strong companies with good fundementalst
If you hate money, yes.
AOC to rescue the free market! Here we go!
I wouldn't even be surprised if it rebounds once the restrictions are lifted or people find new brokers. It's already bounced off $150 to near $200 (and I think been halted again? MM's can't have the price going up after all)
Ah I thought you were referring to his breakdown of shorting
Yeah the comparisons were pretty unfair, but the hypothetical argument of "you'd be doing the same if you were in that position" is one that just makes no sense to me. It gets bandied about when talking about unethical business practices, as a way to shut down legitimate grievances. Money is undoubtedly the primary motivator, but a lot of the people on WSB have wanted to get one over on Wall Street for a long time and have had long standing issues with the industry. Maybe they would have acted in the exact same manner given the opportunity, but we don't know that. A lot of them are going to be further ideologically entrenched due to what's happened.
High risk but with a huge potential win. Worth a bet with your play money.
Best place one can purchase some of this GME stock in UK?
I've put a limit order in, feck it. It's just as likely it'll bounce back as it'll return to a $4 stock imo. There's no lack of enthusiasm to purchase by Robinhood users on WSB. They just can't.
I got in with a few GME shares at about 375 just before they plummeted
gotta say, it seems dodgy as feck that trading has been suspended while the price just gets driven lower and lower.
gotta say, it seems dodgy as feck that trading has been suspended while the price just gets driven lower and lower.