Some smart person explain the GME (gamestop) thing

[MontuckyFried]

the reddit masses all claim the be HOLDING....how true that will be is yet to be seen, but....Keith Gill is diamond hands.

[MontuckyFried]

I was wondering if I should get in on a couple of these others that are only strong because of the chatter but with the weekend and the discussions that are bound to be going on I'm not feeling like playing the game is a wise move today

[shirk]

This guy is a legend.

https://www.youtube.com/c/RoaringKitty

[warthog]

Oh, the irony.

https://www.vice.com/en/article/qjpn...re-the-product

It's almost as if they are "hedging" their bets. Strange.

[Greenstateofmind]

...

Is it not irrational to think one can predict the future with any significant degree of certainty?

That’s what I remember thinking in economics class anyway.

[S_jenks]

Sounds like there is still merit in those who have decided to hold through the weekend:

https://isthesqueezesquoze.com/

[gravitylover]

Sounds like there is still merit in those who have decided to hold through the weekend:

https://isthesqueezesquoze.com/

It may even be worth it to buy in over the weekend if there's a dip. That's a good article.

[MontuckyFried]

It may even be worth it to buy in over the weekend if there's a dip. That's a good article.

Maybe if the dicks at Robinhood and elsewhere even allow you to.

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[kathleenturneroverdrive]

Vanguard, TD, and Fidelity should still be good to go if you want GME. I'm still holding 10 shares of GME just to stay on the rollercoaster, although today was so mellow, it was nice to get work done again.

[gravitylover]

Yeah I just changed over to TD, account went active this morning, so now I can play the after hours game.

[MTT]

The bankers hedge funds will throw Robinhood under the bus and walk away.

Robinhood needed 1 billion to continue operating.
It's painfully obvious they were gambling with clients money and playing over their heads.

Robinhood Fucked with the buy/sell of specific stocks because they were personally over and illegally EXPOSED.

Also interesting not many mention Chewy founder and Billionaire having bought into GameStop last August. I have not seen one word from him about this

[JimmyCarter]

The bankers hedge funds will throw Robinhood under the bus and walk away.

Robinhood needed 1 billion to continue operating.
It's painfully obvious they were gambling with clients money and playing over their heads.

Robinhood Fucked with the buy/sell of specific stocks because they were personally over and illegally EXPOSED.

Also interesting not many mention Chewy founder and Billionaire having bought into GameStop last August. I have not seen one word from him about this

Cohen can't say a word either way in any of this or he'll get strung up for manipulation. He has nothing to gain and everything to lose by opening his mouth.

[Benny Profane]

Listening to Scott Galloway, and he's like, duh, you think this is young/old, David/Goliath, Armies at the moat? Who's to say the hedge funds aren't major actors on both sides?

Hedge funds are generally populated with young people. Maybe the owners are ancient, but, most traders are the same as Rediit creatures, just, more connected.

I enjoy this stuff from a distance, and, I've learned over the years is that it's just so much fucking noise, but, fun with popcorn, as long as you don't actually put a penny in it. It too shall pass.

[muted]

Also interesting not many mention Chewy founder and Billionaire having bought into GameStop last August. I have not seen one word from him about this

His $76 million of GME stocks from December made him a billion more and counting, again. Not sure this is the time for him to comment or take sides on anything as this all plays out.

[dan_pdx]

Cohen can't say a word either way in any of this or he'll get strung up for manipulation. He has nothing to gain and everything to lose by opening his mouth.

He was very successful at etail at Chewy, and he brought Chewy's COO and CFO to Gamestop's board. I'm not saying that makes it a $450 stock, but it might make it a $20 stock. Agree he's trying to walk the straight and narrow, especially now that the SEC is going to be doing colonoscopies on everyone even peripherally involved with this hilarity.

[Ireallyliketoski2]

I'm holding over the weekend, this has been the most fun I've had since I let Rick James mow my lawn. I've got 144 shares at 114 avg cost and am prepared to lose it all next week.

[4matic]

The bankers hedge funds will throw Robinhood under the bus and walk away.

Robinhood needed 1 billion to continue operating.
It's painfully obvious they were gambling with clients money and playing over their heads.

Robinhood Fucked with the buy/sell of specific stocks because they were personally over and illegally EXPOSED.

Also interesting not many mention Chewy founder and Billionaire having bought into GameStop last August. I have not seen one word from him about this

This is false. There are formulas (math) that determine acceptable risk to the broker. RH clearing should be a completely separate business from RH brokerage and therefore told the brokerage they need to reduce risk or raise cash. The risk they are mitigating is the leveraged assets of their clients. Trading restrictions are normal and common from all forms of brokerage depending on volatility. Margins change; it's that simple.

[cantspin]

I'm holding over the weekend, this has been the most fun I've had since I let Rick James mow my lawn. I've got 144 shares at 114 avg cost and am prepared to lose it all next week.

Hell ye. Holding w an avg cost of 124.


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[stuckathuntermtn]

I saw it pointed out last night that the greedy Hedge Funds actually represent millions of ordinary investors in the form of retirement funds and pension funds?

Anyone care to comment on that?

Does this represent a threat to stock market stability?

In the short term this is creating crazy instability. In the long term? Hopefully people learn a lesson and stop doing illegal shit and that contributes to stability. That's a big question though. Learn their lesson? Stop doing illegal shit? Yeah right.

[Bunion 2020]

Quick question, broad market volatility has been ummmm interesting the past 3 days.

Any relation to that and this?

[stuckathuntermtn]

Somewhat, probably. If enough people/funds have to liquidate positions to cover other positions, that means some crazy ups and down for securities' values. If people are selling blue chips and big tech stocks to buy meme stonks, that's gonna depress the former and lift the latter. That's just basic supply/demand. And supply of $GME is running low.

I'm not convinced this won't end in bailouts and consolidations, maybe a few fines, 1 or 2 fall guys. Just business as usual. Partly BECAUSE of the volitility it would cause for Melvin, Robinhood, middlemen, etc to go under and other funds to post such huDge losses (like Citadel and other funds who lent/gave Melvin $2.75B. Citadel also does the actual trades for RH, pays RH for info on their customers, and has close ties with Janet Yelen).

Pretty sure short interest over 100% is illegal. It's basically the plot of The Producers: they sold more than 100% of something they not only wanted to fail, but actively tried to make fail. Sold might not quite be the right word here, but you get what I mean.

How that was allowed to happen or who let it happen I don't really understand, but it probably isn't the first time someone somehow shorted more than the available float if they already have a term for it. I don't understand how they even cash in on that.

[CovertM]

Listening to Scott Galloway, and he's like, duh, you think this is young/old, David/Goliath, Armies at the moat? Who's to say the hedge funds aren't major actors on both sides?

Hedge funds are generally populated with young people. Maybe the owners are ancient, but, most traders are the same as Rediit creatures, just, more connected.

I enjoy this stuff from a distance, and, I've learned over the years is that it's just so much fucking noise, but, fun with popcorn, as long as you don't actually put a penny in it. It too shall pass.

Look up thread Bunny, tons of whales got involved a while ago. I posted a few funds that took the opposite play of Melvin Et. Al, when the excess short was apparent. The retail vs. hedge fund is way overblown in the media.


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[Bunion 2020]

@Stuck, thanks for the reply, that question was rhetorical.

A whole shit load of people see these gyrations as a threat to their Retirement, be it Pensions, IRAs or 401Ks.

This is the exact kind of a thing that will help Liz Warren and the other folks who rightly view the Stock Market as a fixed game that has been corrupted and in need of more regulation/reform.

[stuckathuntermtn]

This won't end till lenders call Melvin ey al on their shorts and they have to liquidate. What that means for GameStop and their stock, idk, but it means serious losses, lawsuits, and fines. Hopefully too many average people with average people retirement funds don't get hurt.
I'd be pulling out right now if I was a fund manager. Fuck Melvin. Fuck Citadel. Fuck Robinhood. And fuck Business As Usual.

[Stu Gotz]

The biggest thing Robinhood has going for it right now I s most of their clients have no clue what kind of risk they are facing. Bigger more institutional clients would be running for the hills right now.