GameStop/Reddit vs. Big Financial

[ghuns]

GameStop Corporation Common Stock (GME) Real-Time Quotes

GameStop Corporation Common Stock (GME) Real-time Stock Quotes - Nasdaq offers real-time quotes & market activity data for US and global markets.

www.nasdaq.com

$ 400.27 currently.
$347.51 at close yesterday.

It was trading for less than $6 for most of the month.

From it's high of $483 today, it's now below $200.

 

[smokingman]

Yup. The high priests of finance will make sure that the masses no longer have ready access to the markets, and will have to go through a long convoluted process to give the market time to react and minimize their loses.

Downdetector reports Thursday morning that users of Robinhood, TD Ameritrade, E-Trade, Charles Schwab, Fidelity, and Webull are reporting issues and outages.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

They already are. It is going to make people even angrier.

 

[OakRiver]

I'm too old for these games/gambles. Or is it risk averse? I'm a car guy. I have been in this industry my whole life. I'm going to dive into EV's. I am confident that is the future and hopefully with some due diligence and luck I can build up a little nest egg in the next 6-8 years which is when I plan on retiring. If I start soon, hopefully it will grow modestly over that time period.

Batteries. Charging infrastructure, actual vehicles.

I think it is a sensible position. This type of stock trading seems to thrive because someone is always left without a chair (and picking up the tab) when the music stops.

Fueled in part by mass unemployment, funded by stimulus checks, and driven by constant messaging that the people who make their money through this type of speculation are immoral, an online community has found a way to crowdsource a response and are making a lot of money in doing so - and costing hedge funds a lot of money in return. Their next gambit is AMC stock, which is rising. For most of the people involved in this I can't see them being worried about impacting hedge funds, and in turn their pensions, as they are likely young enough to have any pension recover from this, if they have a pension at all.

 

[ghuns]

...driven by constant messaging that the people who make their money through this type of speculation are immoral...

IDK if I'd call them immoral.

They are a**holes for sure. Vultures of the economic world thriving off of death and destruction.

But the world needs vultures to clean up the carcasses.

 

[rooster]

This is pure market manipulation. We are witnessing the death of the free market. This is an oligarchy any doubt to that fact has been wiped away.

 

[smokingman]

This is pure market manipulation. We are witnessing the death of the free market. This is an oligarchy any doubt to that fact has been wiped away.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Speaker Pelosi spoke up as the shares crashed saying that "she understands the Biden admin is looking at Gamestop" and added that she will be "reviewing the Gamestop issue."

Somebody had to rescue the hedge funds from widespread liquidations...

 

[HoughMade]

From it's high of $483 today, it's now below $200.

Which means everyone who bought it to drive it from $200 to $483 loses money if they sell today...and if they don't, they will lose even more. This artificial bubble, like every bubble will burst and there will be a lot of losers. It is a legal pyramid scheme. Some from the beginning will make money. Most will lose. The redditers (and everyone else) that got in on this late will be handing their money over to those that started this, only in a roundabout manner.

 

[rooster]

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Speaker Pelosi spoke up as the shares crashed saying that "she understands the Biden admin is looking at Gamestop" and added that she will be "reviewing the Gamestop issue."

Somebody had to rescue the hedge funds from widespread liquidations...

Proves my point. No one said anything when hedge funds were going to literally short a 15,000 person company into bankruptcy. That’s 15,000 people directly out of work plus countless thousands who are indirectly employed because of GameStop. Retail investors just saved a company. Screw the billionaire hedge funds. Let them go get a job like the rest of us. This movement could be more dangerous that the trump movement.

wanna see someone get dangerous? Mess with their money.

 

[OakRiver]

IDK if I'd call them immoral.

They are a**holes for sure. Vultures of the economic world thriving off of death and destruction.

But the world needs vultures to clean up the carcasses.

I wouldn't necessarily call them immoral either. But since the 2008 crash, the rhetoric against people who make money in this, and similar manners, has increased.

 

[ghuns]

I wouldn't necessarily call them immoral either. But since the 2008 crash, the rhetoric against people who make money in this, and similar manners, has increased.

Well, again. They are a**holes.

In nature, vultures come in and clean up a mess created by other. These Wall Street vultures often help create the mess in order to maximize the profit of the cleanup.

 

[HoughMade]

Oh...and those who started this bubble (and who will profit) claiming the moral high ground...simply brilliant!

 

[smokingman]

Oh...and those who started this bubble (and who will profit) claiming the moral high ground...simply brilliant!

I do not understand this statement.

If someone borrows 140% of all available shares to bet the price of a company goes down,how is price discovery possible?

If you owned a company and someone borrowed 140% of all shares you had publicly available to bet the price would go down your stock price would indeed go down no matter the actual market value.

If someone came in and purchased your stock on the open market at the lower price due to the 140% short and the price goes up is it a bubble or closer to price discovery? I think both.

Shorting a company with more shares than it even has should not be legal period. It makes price discovery all but impossible and is simply used to manipulate prices.

 

[larcat]

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[SheepDog4Life]

**** them! They are just getting a taste of their own medicine.

Hedge funds "massively" short weak stocks to induce panic selling, and line their own pockets.

 

[HoughMade]

There are no "good guys" and there will be plenty who lose money. Glad I'm not one of them.

 

[rooster]

Which means everyone who bought it to drive it from $200 to $483 loses money if they sell today...and if they don't, they will lose even more. This artificial bubble, like every bubble will burst and there will be a lot of losers. It is a legal pyramid scheme. Some from the beginning will make money. Most will lose.

This “bubble” was created by hedge funds shorting the stock not retail investors. They have been using complex schemes to move their losses around. They are bidding back and forth booking small loses to take the price lower since most others are restricted from buying.

this is collusion and it’s anti American

 

[BugI02]

There are no "good guys" and there will be plenty who lose money. Glad I'm not one of them.

I must confess, I was disappointed to see the trading platforms step into this dispute on the side of big money. Having said that, if the small investor can seriously burn a market mover and a similar future move by small investors cannot be precluded, good may well come of it for said market movers to be taught caution and that they in fact do have limits

I think the little guys qualify as the good guys, to the extent that anyone does. Many of them have altruistic motives

 

[Gd999]

The deal is the hedge funds shorted more shares than can ever be available. Like 150%. Someone noticed this and took advantage. The group expects it to hit $1k at least. The hedge fund can’t cover their shorts even if they are losing money because no one will sell shares. The price will keep climbing and eventually they will sell. Until they close I think the hedge funds have to pay an insane interest rate on the stocks.

 

[BugI02]

This “bubble” was created by hedge funds shorting the stock not retail investors. They have been using complex schemes to move their losses around. They are bidding back and forth booking small loses to take the price lower since most others are restricted from buying.

this is collusion and it’s anti American

Indeed. On the short side there are fewer rats; but they're bigger, more voracious and greedy, and willing to feed on their own. I don't think the cavalry has to hang on that long before the shorts have no place to go for further support, and when their contracts expire they're ****ed

Couldn't happen to more deserving folks. No guilt required, because anyone who can afford to utilize a hedge fund is rather well cushioned against losses

 

[rooster]

In holding shares in AMC,GME and NOK in cash. Have been for a while. It costs me nothing to hold these other than potential opportunity cost. Meanwhile hedge funds are paying between 30-90% interest on their short positions. My sell order on GME is set for 5k a share.