Some smart person explain the GME (gamestop) thing

[BmillsSkier]

I can point you to multiple mega sq ft spaces in a resort area that are happy to be vacant.

I bet their lenders are thrilled.

[Benny Profane]

Just in case you thought that there isn't a small club running the whole show...

https://twitter.com/krystalball/stat...273013760?s=20

[schuss]

Also, at it's core, WSB folk bought the stock to make money, just like hedge funds. Fucking over specific hedge funds is just an extra bonus.

[Benny Profane]

Short selling needs to be illegal, period.

Is there an example where it helps the business?

No, shorting is valuable. It strips away the bullshit that covers up poorly run and financed companies, and sometimes exposes criminality.

[MontuckyFried]

This has to be the most politically unifying event I’ve seen in years. Loving it.

Truth. I would LOVE to hear Bernie Sanders' hot take on this event.

I've been a fly on the wall in the homes of some of these hedge fund bros, doing technical work on their homes while they'd (quite loudly) be on conference calls on speakerphone. They'd loudly bloviate about what they were doing and acting like I wasn't even there. I was simply "the help" to them and totally invisible. The way these douchenozzles scheme in concert with each other is no joke. What the guys did on Reddit is NO DIFFERENT than what these Wall Street titans do with each other behind closed doors. Thus is the way of the world and so I accept it for what it is, but at the same time fair is fair and what happened to them and GME was LONG overdue.

In the end, it won't really hurt them all that much, but consider this shots fired across the bow from us unwashed masses and deplorables. The jig is up, douchebags. Half tempted to send a text message with a smiley face and middle finger emoji to a couple of these guys. I won't really, but the thought had crossed my mind.

[huckbucket]

ANGRY HEDGE FUND BILLIONAIRE LEON COOPERMAN IS MAD AT GAMESTOP REDDITORS FOR “ATTACKING WEALTHY PEOPLE”




https://www.vanityfair.com/news/2021...-gamestop-rant

"... we all have to work together and pull together"

Oh Gowd I haven't laughed that hard in a long time. Thanks.

[Benny Profane]

Truth. I would LOVE to hear Bernie Sanders' hot take on this event.

I've been a fly on the wall in the homes of some of these hedge fund bros, doing technical work on their homes while they'd (quite loudly) be on conference calls on speakerphone. They'd loudly bloviate about what they were doing and acting like I wasn't even there. I was simply "the help" to them and totally invisible. The way these douchenozzles scheme in concert with each other is no joke. What the guys did on Reddit is NO DIFFERENT than what these Wall Street titans do with each other behind closed doors. Thus is the way of the world and so I accept it for what it is, but at the same time fair is fair and what happened to them and GME was LONG overdue.

In the end, it won't really hurt them all that much, but consider this shots fired across the bow from us unwashed masses and deplorables. The jig is up, douchebags. Half tempted to send a text message with a smiley face and middle finger emoji to a couple of these guys. I won't really, but the thought had crossed my mind.

Why would Bernie even waste his time? What does he care? He's been working on policies that would help improve the quality of life for all Americans, like affordable and high quality health care and higher minimum wages ( which, of course, he got zero credit for when Biden just announced a new minimum level). Why would he jump into this bullshit pool with children like Cruz and AOC? She should know better, but, I guess she's addicted to more clickbait media appearances, like a lot of others.

[LeeLau]

Covered my shorts yesterday, at around 160, not bad for 3 days

Sent from my Redmi Note 8 Pro using Tapatalk

And someone swiped right on your 100 shares. Bought it and is now up 140. Ain't the market great?

[Timberridge]

Also, at it's core, WSB folk bought the stock to make money, just like hedge funds. Fucking over specific hedge funds is just an extra bonus.

I think it is foolish to think that in this turmoil the retail guys(Redditors) are all winning and the institutional guys(hedge funds or unhedged funds)are all losing. When the dust settles there will be winners and losers on both sides. But it makes for a nice feel good story for those feeling disenfranchised.

[MultiVerse]

Good piece by Tucker. He actually comes out and accuses the hedge funds of being behind the Robinhood manipulation of the stock price by only allowing sell orders.

Makes me think back to last spring when Robinhood shut down while USO tanked. Who benefited from that? Was it the hedge funds? It sure wasn’t the retail customers.

As Tucker said (and as I thought yesterday before seeing Tucker say it), when AOC and Trump are on the same side of an issue, you know something is not right.

Why does everything have to be political with you guys? Tucker jumped on the bandwagon and then tried to make it about race and white resentment. Robinhood frontrunning trades has been happening since 2016. It's well documented and Robinhood is upfront about it.

Even so, when retail can't buy giving Melvin and others breathing room to cover their shorts using their prime brokers with preferred access, the public can only see the whole thing as a conspiracy against them. I don't blame the public one bit for seeing it that way.

The reality is, however, Robinhood offers free trades. That means it's too good to be true. It's not a conspiracy in any meaningful sense. After all, Fidelity, Vanguard, and TD Ameritrade / Schwab all let the market work.

The much bigger ongoing problem is Tucker and his ilk frontrunning whatever happens in America always assimilating everything into the culture war.

[Kinnikinnick]

I dont know securities law very well, but I wonder whether redditors involved could be prosecuted for conspiring to manipulate markets.


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[Benny Profane]

Why does everything have to be political with you guys? Tucker jumped on the bandwagon and then tried to make it about race and white resentment. Robinhood frontrunning trades has been happening since 2016. It's well documented and Robinhood is upfront about it.

Even so, when retail can't buy to give Melvin and others breathing room to cover their shorts using their prime brokers with preferred access, the public can only see the whole thing as a conspiracy against them. I don't blame the public one bit for seeing it that way.

The reality is Robinhood offers free trades. That means it's too good to be true. It's not a conspiracy in any meaningful sense. After all, Fidelity, Vanguard, and TD Ameritrade / Schwab all let the market work.

The much bigger ongoing problem isTucker and his ilk frontrunning every thing that happens in America to assimilate it into the culture war.

You know the old saying. If something is free, you're the product. Or, in another word, the mark.

[Benny Profane]

Ha, yeah, the big bad hedge funds haven't exactly been killing it for a long time now, anyway.

If you play in this stupid game, you deserve to get burned. Both sides.

Well worth the 2 and 20.

[LeeLau]

No, shorting is valuable. It strips away the bullshit that covers up poorly run and financed companies, and sometimes exposes criminality.

NKLA rolling trucks downhill was an entertaining and deserved short.

ENE was also satisfying

[kathleenturneroverdrive]

Not...quite.

https://www.cnn.com/2021/01/28/polit...ack/index.html

I would argue that hating on Ted Cruz is also politically unifying

[Timberridge]

Truth. I would LOVE to hear Bernie Sanders' hot take on this event.

And here I am just hoping puregravity checks in. This conspiracy stuff is right up his alley, so I'm not sure what's going on.

[k2skier112]

No, shorting is valuable. It strips away the bullshit that covers up poorly run and financed companies, and sometimes exposes criminality.

there has to be better checks and balances than short selling

memba the 2007 mortgage crisis, that was fun

yes, WS needs more regulation, but short selling seems completely illogical...profiting on a failing business, only in "merica

[BmillsSkier]

And here I am just hoping puregravity checks in. This conspiracy stuff is right up his alley, so I'm not sure what's going on.

If the box fan starts smoking, you'll know he's typing.

[JimmyCarter]

If the box fan starts smoking, you'll know he's typing.

So wind shear is impacting GME volatility?

[ColMan]

The hedge fund guys at this point all likely covered their shorts last night and are out. Still at a big loss but nothing like it would have been if they hadn’t been able to halt the RH trading.


Sent from my iPhone using TGR Forums

[DJSapp]

Truth. I would LOVE to hear Bernie Sanders' hot take on this event.

I've been a fly on the wall in the homes of some of these hedge fund bros, doing technical work on their homes while they'd (quite loudly) be on conference calls on speakerphone. They'd loudly bloviate about what they were doing and acting like I wasn't even there. I was simply "the help" to them and totally invisible. The way these douchenozzles scheme in concert with each other is no joke. What the guys did on Reddit is NO DIFFERENT than what these Wall Street titans do with each other behind closed doors. Thus is the way of the world and so I accept it for what it is, but at the same time fair is fair and what happened to them and GME was LONG overdue.

In the end, it won't really hurt them all that much, but consider this shots fired across the bow from us unwashed masses and deplorables. The jig is up, douchebags. Half tempted to send a text message with a smiley face and middle finger emoji to a couple of these guys. I won't really, but the thought had crossed my mind.

If only they made a movie about this kind of thing...

[Dantheman]

yes, WS needs more regulation, but short selling seems completely illogical...profiting on a failing business, only in "merica

Short selling is the easiest way, but far from the only way, to profit off a failing business. Private equity firms have this down to a science.

[rideit]

[Benny Profane]

there has to be better checks and balances than short selling

memba the 2007 mortgage crisis, that was fun

yes, WS needs more regulation, but short selling seems completely illogical...profiting on a failing business, only in "merica

No, it's a worldwide market.

[MontuckyFried]

Private equity firms HAD this down to a science.

FIFY