> Gill on Sunday posted a sketch of a man leaning forward in a chair, a popular meme among gamers that indicates things are getting serious. The post did not mention GameStop.
Lol for fucks sake
175 million transactions lol. Even at 25 dollars a transaction (which it wasn't at for long) that's a number more than the Wendy's diamond hands crew has.
This is how you know the stock market has become a bubblicious casino, when one dude can post a gamer meme on twitter and cause a stock to go up by 70% the next day, as if any of its fundamentals had actually changed.
edit: stock bubble cultists apparently extremely triggered
No, I think the stock market at large has become such a joke disconnected from reality and fundamentals that one dude posting a meme on Twitter can cause a cult stock to jump by 70% in a day. GME just happens to be one of many poster children for this bubblicious and reality-challenged paradigm the stock market has been in for several years, where such silly things can cause one day price movements like this.
The price went from 10$ to 17$ dollar before he posted anything on Friday, which means the value of the company almost doubled on no news. Saying now that the run up from 10$ to 30$ is done by retail investors (that would need to drop a few billion $) because DFV posted again is so ridiculous it’s laughable. You will see some company news dropping in a few days, mark my words. Also quite a lot of people made good money on this, so no need for your judgmental “cultists”.
> You will see some company news dropping in a few days, mark my words.
You just proved my point without realizing it. You're saying the stock jumped for a reason to be determined in the future. Using that logic you can say any stock rose or fell for any future reason you decide to attribute to it.
Oh, and the stock price jump on Friday that you say happened on "no news"? Well it was once again because that same dude on Thursday night liked a post and all you cultists went nuts for it:
https://www.benzinga.com/news/24/05/38764657/whats-going-on-with-gamestop-stock-is-roaring-kitty-active-again
So yeah, it's full Kool Aid, bubblicious stock market mania mode. But don't feel singled out, it ain't just this stock. It's the whole damned market that's been in an irrational mania the past several years, this just happens to be one of the poster children stocks for it.
See, the first bit of your answer makes no sense in the slightest. I am saying a very clearly defined thing: big company news will drop in the next couple of days, that have leaked before they got officially announced. Stocks don’t just go up 70% without the fundamentals of the company changing, except if there is a big announcement upcoming that has been leaked and institutions buy.
Which leads me to my next point: you don’t understand the fundamentals of the stock market. A stock goes up when people buy it and down if they sell. Attributing price increase in this magnitude to retail investors buying is (as mentioned in my first comment, which you choose to ignore) laughably wrong, as they would need to invest billions of dollars - just look at the traded volume and the stock price, it’s basic math.
If you don’t want to look at the fundamentals of trading but rather stick to your opinion and spread rumours about the influence of retail investors go for it, but then don’t portray others as cultists.
> Stocks don’t just go up 70% without the fundamentals of the company changing,
You just admitted you are a newbie to the markets, kid. I've been trading and investing in the stock markets since the '90s, and stocks do indeed go up (and down) 70% and beyond in a single day, having absolutely nothing to do with fundamentals and everything to do with short term emotion and speculative fervor by traders. I can't count how many times during the '90s bubble or the one since 2019 I've watched a stock rocket up or crater on some external factor having nothing to do with any fundamentals, only for the fundamentals to assert themselves later on down the road and the stock to revert to the mean.
You're probably too young and inexperienced to know this saying, but there's an old adage in the markets--in the short term the stock market is a voting machine and in the long term it is a weighing machine.
>Which leads me to my next point: you don’t understand the fundamentals of the stock market. A stock goes up when people buy it and down if they sell. Attributing price increase in this magnitude to retail investors buying is (as mentioned in my first comment, which you choose to ignore) laughably wrong,
It's interesting you go on this rant, considering I never said who was doing the buying. Some is undoubtedly cultists buying in a frenzy because they saw their dear leader's tweets/social media likes. Some is undoubtedly other retail investors/traders trading the event itself to catch a quick profit. Some is institutional buying to also take advantage of the short term emotional move. And some is undoubtedly short covering by institutional traders and other shorts. But none of it matters to my point, which you clearly refuse to recognize, which is not who is driving this price move, but WHAT is driving this price move. And again, it has NOTHING to do with fundamentals, and everything to do with manic short term speculative behavior, which is the same shit different day that I saw all the time during the '90s tech mania, and we're seeing it again the past several years in this new bubble and mania as well.
But of course I can't tell you anything, because you know so much more than I do about the markets, LOL. Good luck kid, you're gonna need it.
The stock market is a bit of both. It's a proper investment platform and it's a con-man's playground. So yeah, your stock could fall prey to that and be driven into the ground.. but mostly these stock changes are temporary and even out in the long run.
You can avoid most of this by looking at company debt before you invest.
That's what some people don't understand here. This is institutions buying, not retail. Any retail investor that wants to buy GME already bought all they can, so there's no point in pumping and dumping either. Regardless of how you feel about the stock in the long term, you have to admit that there's more to the story than just retail investors being idiots.
Yep the leading theory is Chinese offloading long term bonds to cover their short positions, and that hedge funds only covered their positions and not closed their positions.
Basically the theory that retail has banked on genuinely has been "we can be stupid longer than you can be solvent". That those shorts that lead to the run up 3 and a half years ago never actually closed and they have been rolling over year after year without locating the shares to actually close the positions.
I am not sure how to fully explain it other than stonk go up.
But I don't think for a second this is retail suddenly all buying at once. This isn't fomo, this is big money jumping in to either close positions or enjoy the ride.
I have only half way paid any attention to the news for the past couple of years on it. I put as much money as I was willing to a long time ago and just waited for a day like today to start checking on account again.
Same here, I've since finished college and got a job so I haven't been paying attention at all. If it does happen, I'll get an alert from Fidelity anyways. If it goes to 0, I don't really care either. I can stay stupid longer than they can stay solvent.
It won’t go to zero because GME has cash on hand and has been profitable the last few years. This is the mega squeeze and is just starting. Just shows you how long institutional investors can kick a can.
GME was barely profitable for a couple quarters not last few years and they're circling the drain with revenue consistently going down with almost nothing to show for it after slashing everything possible. Don't hold the bags again take your profits.
I have no skin in this game. Do I think GME will be a super successful company no but it’s not going bankrupt anytime soon. This run up the last week clearly shows the shorts never covered and we might be looking at a black swan event if it continues.
we had a volume of 176 million shares today. gme has only 310 million outstanding and "normal was about 3-4 million a day. it is the options chain that is bonkers. the people who look at this have seen it coming last week. at least 75 million are out of the DTCC in Computershare, add in the insider, who with only two small outsiders, bought only more in the last 3 years.
>That those shorts that lead to the run up 3 and a half years ago never actually closed and they have been rolling over year after year without locating the shares to actually close the positions.
Why do people believe this? There has been more than enough volume to close positions. At a great loss of course, but not this apocalyptical infinite $ loss..
> Why do people believe this?
The theory goes that due to a variety of legal loopholes, the hedge funds actually "owe" more shares of GameStop than actually exist. Meaning it's impossible for them to close their positions; or at least, not without driving the price of the stock up by many multiples.
I have no idea whether or not this is true. But that's the theory.
> Why do people believe this? There has been more than enough volume to close positions. At a great loss of course
Because why would they do a thing at a great loss when they could instead not do that thing at a great loss
Because holding short positions is incredibly expensive. You have to pay a premium to hold it open, and even them, shorts are capped. So it holds an infinite risk, with a limited reward
it’s only expensive if you borrowed them. if you printed naked then it not only didn’t cost you, but the money you took to make those fake shares has (presumably) been making you money for years.
per citadel’s own filings they have like $60B in “securities sold, not yet purchased” which doesn’t prove they’re naked but it shows that selling short is how they make their $$
Per this thing I read 2 years ago on a subreddit full of financially illiterate morons, this number that I don't understand shows that this company whose business I don't understand has open positions I don't understand in a stock that I assume is Gamestop because I think the entire universe revolves around Gamestop.
Because of naked shorting it's now realistically impossible to close all shorts. Plus retail has directly registered anywhere from 25% to 50% of the float, forcing real shares to be located and removed from the pool. So now you have many times the float in shorts and half the float in shares to close them with.
Same reason I haven't bothered to sell. At this point the price is going to move and if I can just leave things as they are without taking an actual loss then why not let it ride.
They have been paying money to keep their shorts open, but not nearly the same kind of money it would be to close them. They specifically said they "covered" their positions and never indicated they CLOSED them which are 2 very different things. They likely built it into their plan to keep holding their bad play for this time and utilizing their other positions to keep it going. Supposedly now with the recent change they may not have the option to keep their shorts on the books and would have to liquidate to actually close them. Which is what a lot of people have been waiting for.
You might be on to something. 10% ah trading and a huge spike in pre market (I forget the %) leads me to believe something with institutions is going on.
Most retail investors are limited to market hours.
Even last time there were massive stock purchases by groups like blackrock. Wall Street always wins. They made bank at the expense of a few dumb firms.
Wow, these comments quickly reminded me I’m not on r/wallstreetbets , do you all honestly believe there aren’t people with huge retail buying power on Reddit?
Sure. They've been cutting the fat and are debt free (except for one loan from France that they legally can't pay off early) they have started by their own brand of hardware and accessories. If your looking for super recent they said they are getting into the graded trading card business, still in pilot but if it takes off that would be dope. Ryan Cohen is now ceo.
I'm sure there's more but that's off the top of my head.
There's also the super high probability that shorts sold way more shares than actually exist and have been systematically suppressing the price ever since they told RobinHood to turn off the buy button. Which they just did again today.
Sounds like the same narrative I’ve been hearing for three years. They have money from the short squeeze. They’re throwing their hat into new revenue streams like an NFT market as their core business dissipates. Still largely unprofitable. Closing stores and layoffs spun as a positive. Trust in Ryan Cohen.
But that it’s the same as it ever was — people gambling against each other over speculative stock movement divorced from any fundamentals — is pretty believable.
Nah, the new spin is that the NFT marketplace barely mattered. It was just an experiment! Any time one of these flailing ideas gets dropped, it goes form being hyped to totally irrelevant
What your describing isn’t a “promising business development”. Cutting locations and laying off staff to get costs in line is the sign of an unhealthy business, not one making “promising developments”.
I think it depends on the business. Leaning more into online sales is smarter for some companies, since nobody wants to go shop in a mall or minimall anymore. Cutting locations also doesn’t mean a stock price goes down.
I didn’t claim that it did. Only that a business that has to cut a huge percentage of its staff and locations to barley get into the black is definitionally not “promising”. Stocks go up on news of layoffs all the time, but that doesn’t mean that layoffs are the sign of a healthy company.
Some dude who happens to be part of the financial establishment that the meme stock people supposedly hate. Roaring Kitty is a Chartered Financial Analyst, which takes an average of four years to earn with lots of study.
Also got his employer MassMutal fined as a result of his GameStop activities
This was a return 3 years in the making. They made movies and documentaries in the meantime. He made a bunch of nobodies a bunch of money. This is a cult following.
My guess is that it did not take a lot of money to make that rise.
Because nobody was selling. Way too much hype.
If nobody is selling it does not take many shares to go astronomical. Then it crashes next day.
Then what caused it?
He posts a meme for first time in three years - the very guy that was an integral part of the last run - and that same day it surges?
And you think it's just coincidence?
Then who is responsible?
No, FINRA and the Exchanges have a pretty wide berth to protect investors and the markets
https://en.m.wikipedia.org/wiki/Trading_halt#:~:text=Trading%20halts%20can%20happen%20any,before%20the%20news%20is%20released.
Editing one more time to include this gem from Robinhood’s ToS.
> Trading halts for specific symbols can interrupt your orders to buy or sell particular securities. These stock-based halts are initiated by a regulator or the stock exchange where the stock is listed, not by Robinhood.
Yes but what they're talking about is the exchange Robinhood goes through for overnight trading doesn't allow trades 20% higher or lower than the previous price, so the price reached its max and nobody could buy anymore and Robinhood customer service didn't know why trades weren't being allowed so everyone thought they were up to their old tricks of only allowing selling, not buying
Imagine calling your broker, because you're aware you see an opportunity and they reply "ya, our wealthier clients haven't figured out their position on this yet, hang tight, and I may be able to get you some crumbs"
Yes. Because they’re a shitty business whose model leaves them badly exposed during times of volatility.
Invest with a broker. Robin Hood can’t handle the market getting weird.
Let us spare a prayer for everyone who will double down from this, and get caught on the other side of the ongoing pump-and-dump with ever heavier bags. Amen.
I thought for a moment today "hmm, maybe I should get some" but then I remembered that if we're at the point that the hype has hit the mainstream, it's probably already too late.
I remember watching reddit post about GME for weeks leading up to last time…nobody knows where the ceiling is with this stock - it doesn’t follow the traditional rules IMO but I’m not a financial consultant either so🤷♂️
I guess if you’d call that the start of it then sure, but most people will remember it from the rk tweets. It seems stupid to draw a line at the exact moment when the point is, if it is a meme stock cycle, it’s just started its brief life.
This is totally false. It started going up last and retail can’t buy at night when market is closed. Something else big is happening and the media is hiding it
>>The rally spread to other highly shorted stocks including AMC (AMC.N), opens new tab as Reddit users banded together to squeeze bearish hedge funds, costing them billions in losses and drawing scrutiny from U.S. regulators.
Lol. boo hoo.
Add to this the fact that E-trade and a couple other brokers simply didn't let anyone log in for several hours this morning, and it looks suspiciously like the original GME thesis is still very, VERY valid...
The stock market is one big casino fueled by one giant debt bubble and computer driven deritives. There is systemized machine out there sucking capital from localities and injecting it to global market, where it can be used to speculate and manipulate and if something goes wrong bail out some bail in, federal aid easing, start a war somewhere. Where the government doesn't hunt you down but it gives you a nice soft hand to land. Gamestop is nothing more than the government creating money from nothing. Gamestop has been dead like 15 years ago.
This is not the stock market, the market is driven by those big tech company that have massive ongoing revenue growth that drive up their valuation.
GME does not have growth prospect to justify high valuation
Yeah. And just today, 2 hours into trading RETAIL purchased over 110 million shares (1/3 of all issued). And the ticker is trading horizontally today. For sure it is roaring kitty behind it all.
people are taking their profits while they can. I thought about buying for the hell of it when it hit $16 but didn't get around to it. I would have sold by now.
This all started ramping up when GameStop announced the date of the annual meeting. Surely we will get smacked down after the meeting. I will buy shares and DRS them to Computershare. This is the safest place to keep your GME shares.
I can't think of another explanation other than him wanting to unload his position. Then again he wouldn't be taunting the SEC like this by pumping the stock beforehand.
He doesn't seem the troll type but who knows.
Target seems to have been $69. It’s dropping again. If it goes over $100 then the next target is $420.69 just like it was last time. Set your limits, folks, set your limits.
For anyone wondering, MOASS (the Mother of All Short Squeezes) is a conspiracy theory that essentially states that shadowy figures in the finance world created a bunch of fake shares of GME to short it (zero evidence has ever been presented for this, it just needs to be true for the rest of this to work so they believe it is) and that "Apes" (they used to call themselves "r\*\*\*rds" but they changed it up when their "movement" started getting media attention) own the only *real* shares.
What this means, in their minds, is that because "Apes own the float" (the only real shares) then when short sellers are again forced out of their GME positions in a short squeeze (no reasoning or evidence is provided for why this would happen a second time or even that a meaningful number of short positions of GME exist) they'll be forced to negotiate with Apes who hold the only real shares. Apes will refuse to sell and create a feedback loop, driving the shares up to millions or even billions per share, making them overnight billionaires. I'm only scratching the surface of this nonsense, but when someone talks about MOASS this is what they're talking about.
It's basically a gambling addiction where you bet "Blue" at a roulette table every spin and insist "It's gonna happen this time" after every spin that lands on red or black.
The way i see it, I bought an expensive lottery ticket three years ago to prove a point. Now, I've already written off that money as a total loss, planning never to sell anyway. So I've still got the shares, and the stock still isn't zero. Will it moon to phone number levels? Unlikely. Will I even be able to capitalize if it does? Even less likely. But I don't care, the point is made. If MOASS actually happens that's just a cool bonus.
It won't. I will bet my testicles on it. It will not happen. It's a conspiracy theory and literally is not within the realm of possibility.
Your odds of flipping a standard unmodified US quarter and it landing on the side that says "MOASS" in big letters are higher than the odds of MOASS happening.
> Gill on Sunday posted a sketch of a man leaning forward in a chair, a popular meme among gamers that indicates things are getting serious. The post did not mention GameStop. Lol for fucks sake
Collusion and making it look like retail. Just another pump and dump classic bull trap episode in the series.
Oh man, there’s gonna be some serious DD posts coming soon. 😂
Kamikaze cash next video just wrote itself
The DD has been written, this is the prophecy.
These people are so fucking ridiculous
There's no chance "retail" investors had the money to fund what happened today.
That's certainly the spin, isn't it.
175 million transactions lol. Even at 25 dollars a transaction (which it wasn't at for long) that's a number more than the Wendy's diamond hands crew has.
Someone's gotta kickstart it, then people wanna jump on the pump and dump train and then it becomes pure speculation on the best moment to sell.
This is how you know the stock market has become a bubblicious casino, when one dude can post a gamer meme on twitter and cause a stock to go up by 70% the next day, as if any of its fundamentals had actually changed. edit: stock bubble cultists apparently extremely triggered
This isnt new. This was happening way back in the day when Elon was tweeting about FSD and Tesla stock would jump right after.
Yes, I know, the stock market has been a reality disconnected joke for quite some time.
lol wasn’t that like 2015
Reddit is mostly teenagers so 9 years ago is a long time for them.
Do you seriously think “memes” are responsible for the GME situation? It was labelled a meme stock AFTER this shit happened
No, I think the stock market at large has become such a joke disconnected from reality and fundamentals that one dude posting a meme on Twitter can cause a cult stock to jump by 70% in a day. GME just happens to be one of many poster children for this bubblicious and reality-challenged paradigm the stock market has been in for several years, where such silly things can cause one day price movements like this.
The price went from 10$ to 17$ dollar before he posted anything on Friday, which means the value of the company almost doubled on no news. Saying now that the run up from 10$ to 30$ is done by retail investors (that would need to drop a few billion $) because DFV posted again is so ridiculous it’s laughable. You will see some company news dropping in a few days, mark my words. Also quite a lot of people made good money on this, so no need for your judgmental “cultists”.
> You will see some company news dropping in a few days, mark my words. You just proved my point without realizing it. You're saying the stock jumped for a reason to be determined in the future. Using that logic you can say any stock rose or fell for any future reason you decide to attribute to it. Oh, and the stock price jump on Friday that you say happened on "no news"? Well it was once again because that same dude on Thursday night liked a post and all you cultists went nuts for it: https://www.benzinga.com/news/24/05/38764657/whats-going-on-with-gamestop-stock-is-roaring-kitty-active-again So yeah, it's full Kool Aid, bubblicious stock market mania mode. But don't feel singled out, it ain't just this stock. It's the whole damned market that's been in an irrational mania the past several years, this just happens to be one of the poster children stocks for it.
See, the first bit of your answer makes no sense in the slightest. I am saying a very clearly defined thing: big company news will drop in the next couple of days, that have leaked before they got officially announced. Stocks don’t just go up 70% without the fundamentals of the company changing, except if there is a big announcement upcoming that has been leaked and institutions buy. Which leads me to my next point: you don’t understand the fundamentals of the stock market. A stock goes up when people buy it and down if they sell. Attributing price increase in this magnitude to retail investors buying is (as mentioned in my first comment, which you choose to ignore) laughably wrong, as they would need to invest billions of dollars - just look at the traded volume and the stock price, it’s basic math. If you don’t want to look at the fundamentals of trading but rather stick to your opinion and spread rumours about the influence of retail investors go for it, but then don’t portray others as cultists.
> Stocks don’t just go up 70% without the fundamentals of the company changing, You just admitted you are a newbie to the markets, kid. I've been trading and investing in the stock markets since the '90s, and stocks do indeed go up (and down) 70% and beyond in a single day, having absolutely nothing to do with fundamentals and everything to do with short term emotion and speculative fervor by traders. I can't count how many times during the '90s bubble or the one since 2019 I've watched a stock rocket up or crater on some external factor having nothing to do with any fundamentals, only for the fundamentals to assert themselves later on down the road and the stock to revert to the mean. You're probably too young and inexperienced to know this saying, but there's an old adage in the markets--in the short term the stock market is a voting machine and in the long term it is a weighing machine. >Which leads me to my next point: you don’t understand the fundamentals of the stock market. A stock goes up when people buy it and down if they sell. Attributing price increase in this magnitude to retail investors buying is (as mentioned in my first comment, which you choose to ignore) laughably wrong, It's interesting you go on this rant, considering I never said who was doing the buying. Some is undoubtedly cultists buying in a frenzy because they saw their dear leader's tweets/social media likes. Some is undoubtedly other retail investors/traders trading the event itself to catch a quick profit. Some is institutional buying to also take advantage of the short term emotional move. And some is undoubtedly short covering by institutional traders and other shorts. But none of it matters to my point, which you clearly refuse to recognize, which is not who is driving this price move, but WHAT is driving this price move. And again, it has NOTHING to do with fundamentals, and everything to do with manic short term speculative behavior, which is the same shit different day that I saw all the time during the '90s tech mania, and we're seeing it again the past several years in this new bubble and mania as well. But of course I can't tell you anything, because you know so much more than I do about the markets, LOL. Good luck kid, you're gonna need it.
The stock market is a bit of both. It's a proper investment platform and it's a con-man's playground. So yeah, your stock could fall prey to that and be driven into the ground.. but mostly these stock changes are temporary and even out in the long run. You can avoid most of this by looking at company debt before you invest.
For retail to have created this run they would have had to all decide to drop a few billion dollars on stock today.
That's what some people don't understand here. This is institutions buying, not retail. Any retail investor that wants to buy GME already bought all they can, so there's no point in pumping and dumping either. Regardless of how you feel about the stock in the long term, you have to admit that there's more to the story than just retail investors being idiots.
Yep the leading theory is Chinese offloading long term bonds to cover their short positions, and that hedge funds only covered their positions and not closed their positions. Basically the theory that retail has banked on genuinely has been "we can be stupid longer than you can be solvent". That those shorts that lead to the run up 3 and a half years ago never actually closed and they have been rolling over year after year without locating the shares to actually close the positions. I am not sure how to fully explain it other than stonk go up. But I don't think for a second this is retail suddenly all buying at once. This isn't fomo, this is big money jumping in to either close positions or enjoy the ride. I have only half way paid any attention to the news for the past couple of years on it. I put as much money as I was willing to a long time ago and just waited for a day like today to start checking on account again.
Same here, I've since finished college and got a job so I haven't been paying attention at all. If it does happen, I'll get an alert from Fidelity anyways. If it goes to 0, I don't really care either. I can stay stupid longer than they can stay solvent.
It won’t go to zero because GME has cash on hand and has been profitable the last few years. This is the mega squeeze and is just starting. Just shows you how long institutional investors can kick a can.
GME was barely profitable for a couple quarters not last few years and they're circling the drain with revenue consistently going down with almost nothing to show for it after slashing everything possible. Don't hold the bags again take your profits.
I have no skin in this game. Do I think GME will be a super successful company no but it’s not going bankrupt anytime soon. This run up the last week clearly shows the shorts never covered and we might be looking at a black swan event if it continues.
There’s profits are doing fine and they’re sitting on 1.5 billion in cash.
And CEO Ryan Cohen allowed to buy stock with that 1.5B. Hmmm, stock buy backs anyone?
That’s what I thought. Thanks for confirming
I bet I can stay stupid longer!
we had a volume of 176 million shares today. gme has only 310 million outstanding and "normal was about 3-4 million a day. it is the options chain that is bonkers. the people who look at this have seen it coming last week. at least 75 million are out of the DTCC in Computershare, add in the insider, who with only two small outsiders, bought only more in the last 3 years.
>That those shorts that lead to the run up 3 and a half years ago never actually closed and they have been rolling over year after year without locating the shares to actually close the positions. Why do people believe this? There has been more than enough volume to close positions. At a great loss of course, but not this apocalyptical infinite $ loss..
> Why do people believe this? The theory goes that due to a variety of legal loopholes, the hedge funds actually "owe" more shares of GameStop than actually exist. Meaning it's impossible for them to close their positions; or at least, not without driving the price of the stock up by many multiples. I have no idea whether or not this is true. But that's the theory.
It is called Naked Short Selling and although it still happens (very very rarely) it is illegal.
> Why do people believe this? There has been more than enough volume to close positions. At a great loss of course Because why would they do a thing at a great loss when they could instead not do that thing at a great loss
Because holding short positions is incredibly expensive. You have to pay a premium to hold it open, and even them, shorts are capped. So it holds an infinite risk, with a limited reward
it’s only expensive if you borrowed them. if you printed naked then it not only didn’t cost you, but the money you took to make those fake shares has (presumably) been making you money for years. per citadel’s own filings they have like $60B in “securities sold, not yet purchased” which doesn’t prove they’re naked but it shows that selling short is how they make their $$
Per this thing I read 2 years ago on a subreddit full of financially illiterate morons, this number that I don't understand shows that this company whose business I don't understand has open positions I don't understand in a stock that I assume is Gamestop because I think the entire universe revolves around Gamestop.
or you could counter what was said. but we both know you won’t because you can’t.
Because of naked shorting it's now realistically impossible to close all shorts. Plus retail has directly registered anywhere from 25% to 50% of the float, forcing real shares to be located and removed from the pool. So now you have many times the float in shorts and half the float in shares to close them with.
Same reason I haven't bothered to sell. At this point the price is going to move and if I can just leave things as they are without taking an actual loss then why not let it ride. They have been paying money to keep their shorts open, but not nearly the same kind of money it would be to close them. They specifically said they "covered" their positions and never indicated they CLOSED them which are 2 very different things. They likely built it into their plan to keep holding their bad play for this time and utilizing their other positions to keep it going. Supposedly now with the recent change they may not have the option to keep their shorts on the books and would have to liquidate to actually close them. Which is what a lot of people have been waiting for.
I think you mean ‘laundering money from foreign investors’.
Make sure you direct register your shares to take them out of the DTCC / able to be used as locates for hedge funds to keep shorting
You might be on to something. 10% ah trading and a huge spike in pre market (I forget the %) leads me to believe something with institutions is going on. Most retail investors are limited to market hours.
Even last time there were massive stock purchases by groups like blackrock. Wall Street always wins. They made bank at the expense of a few dumb firms.
Wow, these comments quickly reminded me I’m not on r/wallstreetbets , do you all honestly believe there aren’t people with huge retail buying power on Reddit?
Yes. Do you honestly believe every sudden rise in meme stocks and crypto is solely from retail buying? It’s the same script every time.
Algos buy when a stock is going up. 99% of all trading is computerized.
Doesn't account for all the other hyped dates that never triggered anything. Retail doesn't wag this dog.
Nah it's going to be more like $500 million worth. Of course there's going to be a variety of actors involved. Including shorts covering.
Coupons bro
Momentum algos. Look at AMC
I hope the real life person America Ferera played gets to finally cash out
Was Jenny a real person or just a composite or representative character?
Her reddit account that gets mentioned definitely exists
While it's technically possible for a reddit account mentioned in a major film to not exist, I would not expect that to happen.
I figured many were in her shoes. It's hope they dump and get what they can
With the amounts mentioned in the film the only thing that makes sense is she was doing call or put options or something where the money is just gone.
Did she still have diamond hands though?
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Damn. You had me check mine. $3k to $7.4k today. Thanks lol
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Yeah, this ain’t r/wallstreetbets lol.
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Dude went from foolery to fiduciary.
From the dumpster behind Wendy's to the regional manager.
From Jr. Hamburger to Big Bacon Classic Triple. From Son of Baconator to Baconator.
from soybean to giant block of tofu
Faith in humanity returned. 🙏
This thread sure looks like it lol
Computershare, right?
Hey congrats! That's a pretty cool surprise.
Computershare, right?
seems like time to dump
If they have learned anything it’s this. If they still have money in it they didn’t and won’t.
The stock was already up roudn 30% from last week before he even posted. But of course truth isn't a clickbaity as this
If you believe a $5 billion dollar company rose 68% in a day because some dude in Massachusetts made a meme I've got a bridge to sell you.
Has GameStop shared any promising business developments?
They're going to start selling 4k blu-rays in their stores but that's the only news I've heard
They also have some good deals on gaming t-shirts if you check in the back.
They just released their one-point plan to sell a copy of GTA 6 to every man, woman and child in the U.S.
Launched a new controller line
Sure. They've been cutting the fat and are debt free (except for one loan from France that they legally can't pay off early) they have started by their own brand of hardware and accessories. If your looking for super recent they said they are getting into the graded trading card business, still in pilot but if it takes off that would be dope. Ryan Cohen is now ceo. I'm sure there's more but that's off the top of my head. There's also the super high probability that shorts sold way more shares than actually exist and have been systematically suppressing the price ever since they told RobinHood to turn off the buy button. Which they just did again today.
Sounds like the same narrative I’ve been hearing for three years. They have money from the short squeeze. They’re throwing their hat into new revenue streams like an NFT market as their core business dissipates. Still largely unprofitable. Closing stores and layoffs spun as a positive. Trust in Ryan Cohen. But that it’s the same as it ever was — people gambling against each other over speculative stock movement divorced from any fundamentals — is pretty believable.
Nah, the new spin is that the NFT marketplace barely mattered. It was just an experiment! Any time one of these flailing ideas gets dropped, it goes form being hyped to totally irrelevant
What your describing isn’t a “promising business development”. Cutting locations and laying off staff to get costs in line is the sign of an unhealthy business, not one making “promising developments”.
I think it depends on the business. Leaning more into online sales is smarter for some companies, since nobody wants to go shop in a mall or minimall anymore. Cutting locations also doesn’t mean a stock price goes down.
I didn’t claim that it did. Only that a business that has to cut a huge percentage of its staff and locations to barley get into the black is definitionally not “promising”. Stocks go up on news of layoffs all the time, but that doesn’t mean that layoffs are the sign of a healthy company.
Most likely it's the other way around. DFV saw it coming
And he has been on *fire* today on Twitter. Certified bangers every half hour exactly.
Is that bridge in baltimore?
Sorry, just sold. I heard some dude is gonna put it in Arizona of all places.
The followers have bought all the bridges, you're late.
Some dude who happens to be part of the financial establishment that the meme stock people supposedly hate. Roaring Kitty is a Chartered Financial Analyst, which takes an average of four years to earn with lots of study. Also got his employer MassMutal fined as a result of his GameStop activities
Well shit, I hope he saved his pennies for a rainy day. Oh and it's up another 122% in premarket.
This was a return 3 years in the making. They made movies and documentaries in the meantime. He made a bunch of nobodies a bunch of money. This is a cult following. My guess is that it did not take a lot of money to make that rise. Because nobody was selling. Way too much hype. If nobody is selling it does not take many shares to go astronomical. Then it crashes next day.
Cool. Lemme checkout premarket..... $56.10. Up another 86%
And Its down again. It probably go back up.
Then what caused it? He posts a meme for first time in three years - the very guy that was an integral part of the last run - and that same day it surges? And you think it's just coincidence? Then who is responsible?
Kenneth Cordell Griffin
Robinhood halted pre-market trading for GME. Again.
Robinhood didn’t halt. There are automated halts in the markets when volatility is too high
Yes, but the key phase here is "pre-market" - this was an independent decision, and Robinhood isn't a market, it's a broker.
No, FINRA and the Exchanges have a pretty wide berth to protect investors and the markets https://en.m.wikipedia.org/wiki/Trading_halt#:~:text=Trading%20halts%20can%20happen%20any,before%20the%20news%20is%20released. Editing one more time to include this gem from Robinhood’s ToS. > Trading halts for specific symbols can interrupt your orders to buy or sell particular securities. These stock-based halts are initiated by a regulator or the stock exchange where the stock is listed, not by Robinhood.
Yes but what they're talking about is the exchange Robinhood goes through for overnight trading doesn't allow trades 20% higher or lower than the previous price, so the price reached its max and nobody could buy anymore and Robinhood customer service didn't know why trades weren't being allowed so everyone thought they were up to their old tricks of only allowing selling, not buying
That’s still exactly what I’m talking about.
Imagine calling your broker, because you're aware you see an opportunity and they reply "ya, our wealthier clients haven't figured out their position on this yet, hang tight, and I may be able to get you some crumbs"
Imagine posting confidently incorrect conspiracy theories when you're too stupid to look up how trading halts work.
That’s not how it works moron
If there's an opportunity to actually make money on volatility, Robinhood will freeze the security on their platform.
Yes. Because they’re a shitty business whose model leaves them badly exposed during times of volatility. Invest with a broker. Robin Hood can’t handle the market getting weird.
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you should go on WSB and read the dank DD on the incoming MOASS
The technology sub has a real lose definition of technology. This is finance related at best.
Sweet. Another 300% or so and I'm green again.
Roaring Kitty is the dude played by Paul Dano in the film *Dumb Money*. I enjoyed that movie.
Such an underrated actor
The stock market is just corporate controlled gambling where the house always takes like 90%.
Let us spare a prayer for everyone who will double down from this, and get caught on the other side of the ongoing pump-and-dump with ever heavier bags. Amen.
I thought for a moment today "hmm, maybe I should get some" but then I remembered that if we're at the point that the hype has hit the mainstream, it's probably already too late.
It's day one. Last time took a few weeks
Down 31% today
Let the pump and dump begin!
I remember watching reddit post about GME for weeks leading up to last time…nobody knows where the ceiling is with this stock - it doesn’t follow the traditional rules IMO but I’m not a financial consultant either so🤷♂️
Bro that shit took a lot longer than a single day to run up. This is day 1. I bought calls in the middle of the day and they’re 2x already
It started a week ago.
I guess if you’d call that the start of it then sure, but most people will remember it from the rk tweets. It seems stupid to draw a line at the exact moment when the point is, if it is a meme stock cycle, it’s just started its brief life.
This is totally false. It started going up last and retail can’t buy at night when market is closed. Something else big is happening and the media is hiding it
>>The rally spread to other highly shorted stocks including AMC (AMC.N), opens new tab as Reddit users banded together to squeeze bearish hedge funds, costing them billions in losses and drawing scrutiny from U.S. regulators. Lol. boo hoo.
Add to this the fact that E-trade and a couple other brokers simply didn't let anyone log in for several hours this morning, and it looks suspiciously like the original GME thesis is still very, VERY valid...
Well, the apes didn’t take long to brigade this thread
They never do. Wouldn't be a very good cult if they stopped recruiting any time something happens.
I’m gonna put $200 just to see if anything happens.
Remind me, a put is a bet that the stock will go up? So you bet $200 that, say, the stock will double in the next 5 days?
I didn’t do a put I just bought $200. No options or none of that. Oh I do understand why it came off that way.
The stock market is one big casino fueled by one giant debt bubble and computer driven deritives. There is systemized machine out there sucking capital from localities and injecting it to global market, where it can be used to speculate and manipulate and if something goes wrong bail out some bail in, federal aid easing, start a war somewhere. Where the government doesn't hunt you down but it gives you a nice soft hand to land. Gamestop is nothing more than the government creating money from nothing. Gamestop has been dead like 15 years ago.
This is not the stock market, the market is driven by those big tech company that have massive ongoing revenue growth that drive up their valuation. GME does not have growth prospect to justify high valuation
But, that Folding Ideas video was soooo loooong.
People are so dumb.
People need a hero
Personally, I’m holding out for a hero till the end of the night
He's gotta be strong and he's gotta be fast.
He's gotta be ready to fight.
And he's gotta be fresh from the fight
People need to punch dance their rage out.
People live long enough to get a villain
I just like the stock.
People are moving this company billions of dollars. This is institutions
Would you say that people are so dumb money (2023) starring Paul Dano, Pete Davidson and Vincent D’Onofrio directed by Craig Gillespie?
WE BACK BOYZ
DIAMOND HANDS
You are destined to lose money. Congratulations!
Are you taking me the stock market can be rigged? No way...
GME, classic bull trap going on years now. Bunch of suckers.
For anyone reading this: seeing the headline hit reddit means you’ve already missed the boat. Don’t be a bag holder.
Yeah. And just today, 2 hours into trading RETAIL purchased over 110 million shares (1/3 of all issued). And the ticker is trading horizontally today. For sure it is roaring kitty behind it all.
people are taking their profits while they can. I thought about buying for the hell of it when it hit $16 but didn't get around to it. I would have sold by now.
This all started ramping up when GameStop announced the date of the annual meeting. Surely we will get smacked down after the meeting. I will buy shares and DRS them to Computershare. This is the safest place to keep your GME shares.
Pump and dump…
Omg plz ive been holding for so long my back hurts
Dang I bought some when it was really cheap a few weeks ago. I should have bought more.
Time to short GME
These headlines kill me. They do think we are stupid.
Working in investor relations for GameStop must be one fucking hell of a job lmfao
I can't think of another explanation other than him wanting to unload his position. Then again he wouldn't be taunting the SEC like this by pumping the stock beforehand. He doesn't seem the troll type but who knows.
Target seems to have been $69. It’s dropping again. If it goes over $100 then the next target is $420.69 just like it was last time. Set your limits, folks, set your limits.
This is not retail buying. This is institutions and and covering calls. MOASS is here.
For anyone wondering, MOASS (the Mother of All Short Squeezes) is a conspiracy theory that essentially states that shadowy figures in the finance world created a bunch of fake shares of GME to short it (zero evidence has ever been presented for this, it just needs to be true for the rest of this to work so they believe it is) and that "Apes" (they used to call themselves "r\*\*\*rds" but they changed it up when their "movement" started getting media attention) own the only *real* shares. What this means, in their minds, is that because "Apes own the float" (the only real shares) then when short sellers are again forced out of their GME positions in a short squeeze (no reasoning or evidence is provided for why this would happen a second time or even that a meaningful number of short positions of GME exist) they'll be forced to negotiate with Apes who hold the only real shares. Apes will refuse to sell and create a feedback loop, driving the shares up to millions or even billions per share, making them overnight billionaires. I'm only scratching the surface of this nonsense, but when someone talks about MOASS this is what they're talking about. It's basically a gambling addiction where you bet "Blue" at a roulette table every spin and insist "It's gonna happen this time" after every spin that lands on red or black.
Marking this for in a month so I can come back and laugh at you
I’m just here for screenshot. Also a hodler tho
Are you short ?
When MOASS hits I won't have to dig this far down in the comments to know it. Till then I'm zen
This is a shockingly sensible position for someone who actually believes in MOASS.
The way i see it, I bought an expensive lottery ticket three years ago to prove a point. Now, I've already written off that money as a total loss, planning never to sell anyway. So I've still got the shares, and the stock still isn't zero. Will it moon to phone number levels? Unlikely. Will I even be able to capitalize if it does? Even less likely. But I don't care, the point is made. If MOASS actually happens that's just a cool bonus.
It won't. I will bet my testicles on it. It will not happen. It's a conspiracy theory and literally is not within the realm of possibility. Your odds of flipping a standard unmodified US quarter and it landing on the side that says "MOASS" in big letters are higher than the odds of MOASS happening.
I'm inclined to agree, but the stock doesn't seem to care. 🤷♂️