Wall Street GameStop

[Aerovette]

This experiment has brought something to light that has me thinking about investments. What happened with GameStop is a game changer (no pun intended). I would be VERY cautious about investing in any companies viewed as "conservative" because the manipulation seen this past week could cost you everything. Dumping brand A for brand B because they are liberal minded could be devastating and as a side effect, bolsters liberal dominance in our society. I was millimeters from investing in oil and held back, thankfully. The value in those stocks is going to tank and I imagine solar is going to go nuts purely by liberal manipulation coupled with EOs.

[MadInNc]

Game stop has nothing to do with liberals.

Bunch of millemums liked stock and company direction, found out is was being put out of business by hedge funds who would make billions on shorts which were over 141% of value of company. They stated buying up stock, hedge fund lost $2.7B.

Became rally cry to F Wall Street. David and Goliath story

[Aerovette]

Originally Posted by MadInNc

Game stop has nothing to do with liberals.

Bunch of millemums liked stock and company direction, found out is was being put out of business by hedge funds who would make billions on shorts which were over 141% of value of company. They stated buying up stock, hedge fund lost $2.7B.

Became rally cry to F Wall Street. David and Goliath story

You'd be challenged to find basement dwelling, reddit using, gamers that are Conservatives. Who do you suppose wants to fk Wall street harder? Capitalists or Socialists?

[Mick]

Originally Posted by MadInNc

Game stop has nothing to do with liberals.

Bunch of millemums liked stock and company direction, found out is was being put out of business by hedge funds who would make billions on shorts which were over 141% of value of company. They stated buying up stock, hedge fund lost $2.7B.

Became rally cry to F Wall Street. David and Goliath story

Not quite. The above is the story that the media is feeding us, but I don't believe it. There is no way that a bunch of bozos on social media had the economic wherewhithall to pull off what happened the last week or so. Either they had to be a lot smarter than that (at least some of them are), or they had to have outside help.

The "leader of the band" at WSB that started it off did so by trying to force something called a "gamma squeeze". He didn't buy shit tons of stock (very expensive), he bought shit loads of call options on the stock (lots cheaper), in an attempt to get the option market makers to buy shit loads of underlying to lay off their risk. Exactly how the cards fell after that is anyone's guess at this point, but I have the feeling you are going to see a bunch of specialists suddenly turning up broke as well as some hedge fund guys.

[BayouCountry]

The scary part for me was when online brokers intervened. It's ok for hedge funds to screw the little guy but not the other way around.

As a swing trader, it opened my eyes. I've done ok because I trade only blue chip stocks.

[Aerovette]

This is being referred to as a scandal. Why? What laws were broken? What rules were broken?

[Rodnok1]

I forsee rules/regs being instituted just to cover this situation, right now they're skirting in the grey area for what I understand.

[The_Dude]

There will be a sharp correction for Gamestop and someone, probably these reddit users will be left holding the bag.

[Little Red L98.]

Diversify.

/thread

[Mick]

Originally Posted by The_Dude

There will be a sharp correction for Gamestop and someone, probably these reddit users will be left holding the bag.

I'm guessing that this ride, while fun to watch, is just about over. At some point, I believe the share price has to return to a level more reflective of the value of the company itself, say, somewhere in the $0 - $20 range. That is why I was looking to buy a put option at some point, to see if I could make a few dollars on that position. Guessing timing is always hard though.

[MadInNc]

Originally Posted by Mick

I'm guessing that this ride, while fun to watch, is just about over. At some point, I believe the share price has to return to a level more reflective of the value of the company itself, say, somewhere in the $0 - $20 range. That is why I was looking to buy a put option at some point, to see if I could make a few dollars on that position. Guessing timing is always hard though.

Think what ya want.

My boy got in early, was in before the DDOS attacks, Robinhood blockage etc. who cares where it ends up, it’s personal to many early on people that used their $600 stimulus.

I agree w position to F the Hedge funds. I saw their wrath at companies I worked at and impact on people

[04 commemorative]

...

[dvarapala]

Originally Posted by MadInNc

I agree w position to F the Hedge funds. I saw their wrath at companies I worked at and impact on people

It's not just hedge funds - there are a lot of professional investors doing shady things to make money at the expense of small investors. It's nice when the little guys can get some revenge.

[Jeff '79]

AAL & SNDL are both part of this scandal too, along with about 8 other stocks.
Let's just say it was nice owning them when Reddit brought them to my attention, and even better selling them for an 85% &124% profit respectively when they ripped.
In full disclosure,
I still own shares of both SNDL and AAL bought back after they dropped sub .75 and $17, respectively, post rip.
My opinion?
The Robin hood CEO should be strung up for limiting buying .
He was paid off by hedge funds to do so imo. One hedge fund is a major stake holder in Robin hood.
If you saw Vlad, the CEO, in any of his interviews, it appeared that he lied through his teeth and skirted every question that was asked him.
Let's do it again !!!
Now, if BITCOIN would just break 40k

[MadInNc]

Originally Posted by Jeff '79

The Robin hood CEO should be strung up for limiting buying .
He was paid off by hedge funds to do so imo. One hedge fund is a major stake holder in Robin hood.

If you saw Vlad, the CEO, in any of his interviews, it appeared that he lied through his teeth and skirted every question that was asked him.
Let's do it again !!!
Now, if BITCOIN would just break 40k

He a putz, yesterday gave his employee’s a $40 Door Dash credit “for holding strong” on the turmoil

SEC will be looking at him for blocking trades to protect position of the hedge funds.... Guaranteed

[Torqaholic]

Originally Posted by MadInNc

...
Bunch of millemums liked stock and company direction, found out is was being put out of business by hedge funds ...

Makes no sense why would anyone think there's a future in the direction of this company.

Games are designed for the latest technology which is/was unobtainable by the general public. Even if you can find the items in stock they're selling for twice the MSRP. The gaming industry is in the process of inflicting a fatal wound upon itself. The people who speculate that this is a good future investment must also be fond of playing Russian Roulette.

[MadInNc]

Originally Posted by Torqaholic

Makes no sense why would anyone think there's a future in the direction of this company.

Games are designed for the latest technology which is/was unobtainable by the general public. Even if you can find the items in stock they're selling for twice the MSRP. The gaming industry is in the process of inflicting a fatal wound upon itself. The people who speculate that this is a good future investment must also be fond of playing Russian Roulette.

New CEO publicly stated going on line and digital to revive GME

[Jeff '79]

Originally Posted by MadInNc

New CEO publicly stated going on line and digital to revive GME

What about AMC, AAL, SNDL, Tootsie Roll, STBX, etc???
He threw people a bone after GME dropped over $125.00??
Oh, thank you.
If he ran his platform honestly, my AAL and SNDL would have quadrupled due to the hedge funds buying back the stock that they already manipulated and shorted down to almost nothing.
He rigged the game for the hedgies by not allowing any more buying, therefore helping the hedge funds positions to fall back down helping their short positions...... Not cool.
He pissed the wrong people off on this one. Time will tell what his consequences will be.
He'll still be richer than his wildest dreams, so it won't really matter to him though.
I use Ameritrade , so I was not restricted.

[Rob]

DOGE to $1

[Thunder22]

now this is funny