GameStop
- Thread starter Wade
- Start date
winkyduck
TYVM Morgan William!!!
There is no way to explain WTF is going on here. A stock/company that is worthless is now.........WOW
It was 38ish 5 days ago. Now 300+
There are a lot of people shorting this stock that feel like the end of Trading Places
Loved what happened on this
A bunch of everyday Joes coordinated a plan to fuck over a couple of slimy hedge funds and it worked
Chalk one up for the good guys
A bunch of everyday Joes coordinated a plan to fuck over a couple of slimy hedge funds and it worked
Chalk one up for the good guys
winkyduck
TYVM Morgan William!!!
Not so sure about that. This stock will be worthless come April. To all waaaaaaaaay up NOW.......SELL! Trust me on this one. Listen to Kenny Rogers: Know when to walk away - know when to run!
They’ve already achieved their purpose-they weren’t in it to make money for themselves. They just wanted to screw over a couple of hedge funds.
I would never invest a dime in game stop as that company will be worthless as you mentioned
I see the very near future of video game discs going the way of DVD’s and Game Stop as the current version of a Blockbuster Video store
that part will be gone . I am sure microsoft knows much more than you and me otherwise they would of not invested in it. It could be VR .. Have to read up on the answers... the people that are betting it must know... then there are followers too.
Pumped by Reddit and Elon Musk.
WildBill
2
Imagine how much capital those who held on to this point have had to put in just to sit tight and wait for the drop. Not many firms would ever do that. That's like playing the martingale system on roulette and you've lost 6 in a row so far. You going to pull out more cash to play against a 7th red in a row?
The Reddit people aren't pump and dumpers, they just realized after they started how powerful they could be if they all were in on a stock. Its a method that has always been there to a degree, just that if it was some real hedge funds they'd all be suspicious of the others following through and be very greedy wanting the lion's share of the profit for themselves. It would be like Warren Buffet buying stock and then saying I think all of the value funds in the world should be loading up in this stock too. Nothing illegal about that.
Don Eagleston
EOG Addicted
Wild Bill is correct. These hedge funds can't afford to be patient; they could go bankrupt in the meantime. Hedge funds deserve the losses because they are greedy, slimy investors who are trying to bankrupt companies. It is kind of like seeing Billy Walters manipulate the sports betting market and losing.
Excellent article on GameStop and AMC
https://www.msn.com/en-us/money/com...l-street-and-the-pros-are-reeling/ar-BB1d9jfz
https://www.msn.com/en-us/money/com...l-street-and-the-pros-are-reeling/ar-BB1d9jfz
I hate the "deserve the losses because they are greedy, slimy investors who are trying to bankrupt companies" angle. What they are doing is within the rules and now they are paying for it. Similar to tax law, some of the wealthier pay less in taxes because they know the rules and how to work on the edge of the rules. It doesn't really make them greedy or slimy, just smart. It's Human nature to despise people who cheer for companies losing money on the stock market, root for unders, play the "don't" in craps, but it can be profitable. Nothing greedy or slimy about it, just another way to make money.
railbird
EOG Master
that dirtbag wants to be governor and pay the marxist school teachers 70K minimum
We will see about that. Ameritrade halted trading in GME today. CNBC had been talking about the SEC looking into the shenanigans.
Stock market hits record highs at a time of record lines for food banks* "well, the rich just know how to invest" *Regular people game the same system through GameStop* "we must stop this immediately"
Minimum salary for Cal teachers is about $43K, average Cal teacher salary currently is about $83K. Many teachers with 30+ years that have been retired for 20 years or more have a pension less than $40K. Example is a friend of mine with 34 years of service, retired in 1996, CalStrs pension is $35K.
Don Eagleston
EOG Addicted
I hated Trump, but agree with the angle that some of his supporters are doing this trading. The odds and rules are stacked against these folks so this is their revenge to overcome this disadvantage, and I applaud this effort. I thought the "Baby Boomers" should have done more during our youth to upset the applecart. My generation protested, particularly against the Vietnam War, but once we made a few bucks became just like our parents.
The hedge fund traders have input into writing the trading rules and choosing SEC nominations, especially when the Rs are in power. Do you know how hard it was to convict Billy Walters of insider trading when it was pretty obvious, at least to me, that he was guilty as hell? You might not remember when Red Auerbach ran the NBA and won the championship nearly every year, He also had Bill Russell and the best team, but much easier when you control the rules. Dean Smith also did this to some extent in college basketball, although his team usually underperformed. In short, controlling the rules is a way of tilting the playing field. Hedge funds should have 100 percent margin requirements when shorting a stock, and there is no way that collectively they should be able to borrow more corporate shares than are outstanding. This is a dirty game and should be cleaned up.
Crazy Pete
EOG Addicted
Shorting stocks is NOT unethical: almost all the stocks they are targeting were shorted because they are 
. They weren’t ‘victims of short sellers.’
AMC: huge losses (-$43 PER SHARE
), business closed or severely restricted for at least a year, probably forever. Raised $$ to stave off bankruptcy by essentially selling corporate stock to WSB’ers. Went up 20 fold.
GME: Very similiar to Blockbuster in its last year. Up over 100 fold.
GSX: a 100% pure Chinese fraud, should be @ $2/share if their accounting is correct... but it’s not. Several research reports prove they fake sales. Up 100 points in a week.
WSB’ers are NOT heroic Joe’s. They are a mob executing a de facto ponzi scheme,
Here’s the thing: they have been buying & holding. Now they have a large % of companies literally 100X overvalued. They’re the dogs who chased a car.. and caught it. Now what? What’s the end game here? Historically, parabolic rises are followed by parabolic losses, VERY quickly. Everyone thinks they know when to get out, but they never do,
. They weren’t ‘victims of short sellers.’AMC: huge losses (-$43 PER SHARE
), business closed or severely restricted for at least a year, probably forever. Raised $$ to stave off bankruptcy by essentially selling corporate stock to WSB’ers. Went up 20 fold.GME: Very similiar to Blockbuster in its last year. Up over 100 fold.
GSX: a 100% pure Chinese fraud, should be @ $2/share if their accounting is correct... but it’s not. Several research reports prove they fake sales. Up 100 points in a week.
WSB’ers are NOT heroic Joe’s. They are a mob executing a de facto ponzi scheme,
Here’s the thing: they have been buying & holding. Now they have a large % of companies literally 100X overvalued. They’re the dogs who chased a car.. and caught it. Now what? What’s the end game here? Historically, parabolic rises are followed by parabolic losses, VERY quickly. Everyone thinks they know when to get out, but they never do,
IWishIWasAPro
EOG Master
People have to keep in mind the people who started that WSB have 20k to blow. Sitting inside during covid, not doing anything. If they want to raise hell they can. I don't mind one bit because I want to see the randoms win instead of the house (hedge) but for every winner there will be a loser whose life will change when they wake up and see everything gone. People have to be very careful.
FairWarning
Bells Beer Connoisseur
These people have been hitting the collectibles markets for a year also. Any thing they can make money at.
lastyle7
EOG Veteran
I'm on WSB and trust me no one has 20k to blow...mostly it's a revenge of the nerds scenario.
FairWarning
Bells Beer Connoisseur
Wonder how many adds WSB gets today?
Screw these hedge fund people, hope they go broke. They tried to take out my main supplier some years ago.
Screw these hedge fund people, hope they go broke. They tried to take out my main supplier some years ago.
FairWarning
Bells Beer Connoisseur
What is the next move in the GameStop saga?
lastyle7
EOG Veteran
up to 4.5m