Posted on 01/28/2021 2:29:19 AM PST by Reverend Wright
Learning about short selling is like learning a sailor knot. Tricky at first but memorization and practice make it easy.
Then we have Joe Biden.
As usual, the media will ask for his OPINION but they will fail to ask any questions that gauge his actual knowledge. It would be glorious, if scary, to watch his wires melt. Again.
And now they are talking about shorting Silver.
They should do a search for “Hunt Brothers.”
JP Morgan is not impressed.
Stock’s down 40% from its overnight high and still crashing. It’s possible the window for a secondary has closed if it was ever open (I’d certainly hope they have been in discussions with bankers to potentially raise capital in the last two weeks. They should fire their CFO and/or treasurer if they haven’t). Agree the management should be exercising and selling every option they can if they aren’t in a blackout period.
Thanks
“The problem is that the ‘wrong’ people are losing a lot of money.”
And I think Bannon or one of his guests on War Room yesterday read that exact phrase that some elite had written. (I could be totally wrong, but that’s how I heard it.) The writer actually said “wrong” people.
Can you imagine being stuck managing that dog, getting a ton of options from the board to improve performance...and then being able to cash out for millions.
It would make going to work on a sinking ship a lot more fun.
Don’t know if I agree with that. The stock price gives them a new market cap.. that market cap can be used as justification for borrowing.
Of course the bank would have to be beyond foolish to lend, since everyone breathing knows this is goi f to crash back hard once all the short term short contracts have covered their positions
I would retire!
And then they flip out when the plebes raid the Capitol.
$20+ billion lost to a bunch of angry people.
This will result in mass arrests. lese majeste, you must not insult, damage, or hurt our betters.
No sarcasm tag. No joke. There are calls for arrests already.
Brokerages “loaning” GameStop stocks they don’t really have in inventory to these hedge funds was the crime here.
The game needs to change or end.
“Your” 401K is not yours. You pay for the stock, but you don’t own it. The funds do.
So when they gamble with my money and lose, they don’t get to go back to me and say “IT IS YOUR FAULT!”
On paper? You nailed it. A lot of the funds should be in jail.
In this day an age? Nope. No one will be arrested except for the people that drove the price up. Because the “wrong’ people lost and made money.
“Law” only matters if it applies to you.
Banks, with very rare exceptions, will not let a company use its own stock as collateral. The way you would structure that typically as you describe would be a loan with a conversion option at a certain call price built into the note. Banks will let individuals use stock as collateral at times, but not usually companies - unless its shares in another company.
“This is fantastic....it’s a sign of how rapidly things can change, technology works both ways, when large numbers of individual investors get together, many using their $600 stimulus checks to take on Wall Street Billionaires and kick their ass, it’s a fun thing to watch.....”
Yep.... and therein lies their Achilles heel. Pick another one and hammer their corrupt butts. Pretty much the only non-violent way to really get their attention is hit em the pocketbook just like they’ve hit US in the pocketbook.
No, what I am talking about is predatory behavior.
Greed isn’t always good.
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