Posted on 01/30/2021 8:43:32 AM PST by CheshireTheCat
A great victory. Short selling should be banned.
If you believe they closed out their short positions, I have a bridge to sell you.
In casino terms, it's like betting the Don't Pass/Don't Come line in Craps.
You win when everyone else loses.
-PJ
Gamestop has been dying for years. They have a few fundamental problems, first and foremost being they’re dishonest with the customers so nobody really likes going there. Add the fact that all the game systems now have online stores and physical media (with the ability to sell used media) is going away. They’re a dead company walking. All the hedge funds saw was a way to make quick money on a company that’s already 3/4 of the way down the drain. Doesn’t matter what their stock trades at, they got 2 maybe 3 years left.
Andrew Lеft “wаѕ bоrn іn а Dеtrоіt ѕuburb оn 9 Јulу 1970 tо а Јеwіѕh fаmіlу. Тhеу lаtеr mоvеd tо Соrаl Ѕрrіngѕ, Flоrіdа, wіth hіѕ fаmіlу. Untо hіѕ еduсаtіоn, hе lеft аttеndеd Соrаl Ѕрrіngѕ Ніgh Ѕсhооl аnd wаѕ а mеmbеr оf thе dеbаtе tеаm аnd рrеѕіdеnt оf thе Јеwіѕh уоuth grоuр аt thе ѕсhооl. Не furthеr рrосееdеd tо Nоrth-еаѕtеrn Unіvеrѕіtу іn 1993.
Аndrеw ѕtаrtеd hіѕ саrееr wіth Unіvеrѕаl Соmmоdіtу Соrр, а hіgh-рrеѕѕurе ѕuррlіеѕ brоkеrаgе fіrm thаt еmрlоуеd ѕаlеѕреорlе tо mаkе сlоѕе саllѕ аnd рuѕh “quеѕtіоnаblе іnvеѕtmеntѕ.” Аftеr wоrkіng fоr nіnе mоnthѕ іn thе соmраnу, Lеft quіt іn Маrсh 1994. Іt wаѕ аftеr thе Nаtіоnаl Futurеѕ Аѕѕосіаtіоn, іn Dесеmbеr 1998, ѕаnсtіоnеd thе fіrm. Соnѕеquеntlу, Lеft wаѕ rеquіrеd tо tаkе аn еthісѕ-trаіnіng соurѕе аѕ раrt оf thе rеvіеw іntо thе fіrm fоr mаkіng fаkе ассоuntѕ tо ѕеll соmmоdіtу futurеѕ соntrасtѕ. ...”
https://www.wealthypersons.com/andrew-left-net-worth-2020-2021/
How does a company issue less than 100% of itself?
If their stocks double, triple, or get cut by 50%, 80% simply due to market manipulation, how is that not artificial?
How is selling short....manipulation?
It's not based on actual value (or not) from the company, it's simply someone gaming the system to make the company appear more or less valuable,
If I buy 1000 shares, because I think it's undervalued, I'm guilty of artificially manipulating the price?
Yep that’s him when he tells his clients he is shorting a stock cause he doesn’t like the value of it he has caused massive losses for mom and pop investors
Selling your own shares isn’t shorting. If you don’t believe in a stock, you take your money elsewhere.
Yes, but that doesn’t explain why those redditor’s are supporting the company. Most of them may be autistic video game players, but they clearly have an attachment to the company and didn’t want to see hedge funders killing it off just so they could make money.
They’re not supporting the company, they’re jacking the hedge fund. They don’t give a crap about Gamestop. They realized a hedge fund was over leveraged on shorts and monkey wrenched them. They also propped up AMC movie chain too. Not for the company, for the monkey wrench.
How does a hedge fund kill off the company by selling stock short?
It allows you to force your competition out of business.
Lets say you own YY Widget company.
You have a up and coming ZZ Widget company nipping at your heels. They do things you will not, like make a smaller, stronger widget and they allow people to re-sell their widgets when they are through with them.
So you talk with your old buddy that works with a hedge fund and tell him that you know a way he can make a bunch of money.
They do a short go on CNN and spread some lies and the price of ZZ stock falls. They make more money, you get rid of an annoyance and you will be able to pick up some prime people at bargain basement prices when they are out of a job because their company collapses.
Its a win for everybody!
Yeah, they do.
*
Well, I heard talk among the redditor’s that because Gamestop still has brick and mortar stores, that they neglected to move “online only”. This has hurt the company in that they have higher overhead and the pandemic shut down has hurt foot traffic.
....and fun to watch for the whole family
Who makes that decision? The company? The analyst? You?
and you try to force the price down to $1 a share by making people think the company isn't worth $10 a share, what do you call it?
Force it? You think it's worth $10 "based on revenue, profit, assets, and so forth", I think, "based on FUTURE revenue, SHRINKING profit, DECLINING assets, and so forth" that it's worth $1. So I borrow some and sell it at $10.
are you buying those shares at way more than they're worth in order to try to jack the price up?
No. I'm buying them at the market price because I'm hoping the price goes up.
Buying them at market price because you think they're worth more than people are selling them for isn't manipulation.
But selling them short - at market price because I think they're worth less than people are selling them for is manipulation?
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