Now AOC is starting to sound sane?!Redditors and gamers did to hedge funds what hedge funds have been doing to companies like Gamestop forever.
Hedge funds lost billions. Already getting bailed out.
Gamers and "toxicity" being blamed once again, of course.
— Grummz (@Grummz) January 27, 2021
Elon Musk tweeted out support for the populist takeover of the market, which some credit as being the catalyst for the rocket-like rise of GameStop’s stock price.
Gamestonk!! https://t.co/RZtkDzAewJ
— Elon Musk (@elonmusk) January 26, 2021
The financial establishment is calling for “authorities” to do something about it. Why? The stock market is all about gambling. It’s a game. The finance bros are just mad that some guys on Reddit played better than the hedge-fund managers who are used to winning. Oh well! You win some and you lose some, boys! The memes are hilarious.
Live view of wsb overtaking the global financial system pic.twitter.com/y9jFOxYVew
— Fintwit (@fintwit_news) January 26, 2021
Even NASDAQ was threatening to shut down the market over the mass inflation of GameStop stock to protect their friends on Wall Street. NASDAQ CEO Adena Friedman was literally stuttering her way through a justification for regulating the people who made the house lose. This didn’t convince me of any wrongdoing. Does it convince you?
The Main Street traders who got the wealth are the ones who bought Gamestop at $20 and sold to the Reddit buyers at $300. It will probably stabilize somewhat above the original $20 with the short sellers chased off, but it will be a lot below the current price. Those late Reddit buyers who used their $600 stimulus checks to buy 2 shares will end up with 2 shares at $30. Right now we are similar to March if someone shouted "I'll pay $100 for that package of toilet paper".
Good to see the hedge funds nailed because they sell short and then drop hints on Bloomberg about how bad the stock is and never get caught for manipulation. But Gamestop is not worth $300+.
Would not be surprised if the Feds use whatever crooked scheme they can to stop this.
This could not happen to a more deserving bunch!
Stock will fall and people will lose their butts. Fun to watch though.
Robinhood is no longer supporting Gamestop as of today.
While it is good to see a hedge fund get gamed by a bunch of little guys, in any price wave the biggest beneficiaries are usually small in number but always on the early side of the buying wave. The smartest of them sold their recently bought shares long before the wave hit its high, while the majority will be holding shares bought at prices above what the price will settle down to. Some, with big skin in the game but not with large other assets may have to take losses that collectively may equal or exceed what the hedge fund lost.
I’d like to see if possible a way for these internet trolls to do the reverse of what happened in the last few days, instead of pushing up the price they could force the stock way down just to screw with these hedge funds
The Reddit Group ("RGs") are day traders.
They are not investors.
Also, 95% of the RGs who try to play the GameStop trade are going to break even or lose money.
GameStop is worth $20 - or less.
It does not matter how high the price gets. Once every short seller is flushed out, the stock price is going straight back to $20.
Unless - LOL - the RGs start shorting GameStop on its round trip to $20!
I wonder if this will be the first ripple in the collapse of the US Jenga economy? Right now, it seems to be right on the edge of a second Great Depression, much larger than the first, as the experts have been saying for quite a while.
You have to have a great upset before you can have a great reset.
Now AOC is starting to sound sane?!bttt
This has put a smile on my face for the ENTIRE day yesterday OUR SIDE bites back!! WE have a whole lot of VERY SMART younger people on our side and NOW it s possible to bite these people in the ass!! Hedge funds whining their asses off screaming for the regulations to begin!! I absolutely LOVE Dave Portnoy!!!
Shirting needs to go back to the old rules whereby only a certain amount of shares can be shorted
If you want to go behind that there’s always options trading for stock movement
I don’t think you can oversubscribe if you go long
Where the hedge fund managers will likely have a point....with the SEC
is that individuals on sites like Reddit etc are conspiring together in unison to manipulate stock
Of course NASD market makers kind of do that too
Wall Street Bets
Fairly small group on Reddit posters started it....after they discovered Game Stop being shorted a lot
Not enough available game stop shares around to cover or the hedge funds ran out of cash to cover the short
Most shorts I’ve done ...I was a SOUS trader ....I had stop loss if the stock went north...
I guess here there isn’t enough stock out there for the stop loss to activate ?
We all like hedge funds getting hit ...unless we owned them lol...not all are owned by Libs
One is owned by one of Trumps biggest money men
This is a new thing....govt will react
Wrongly probably
The big money will flow to Mitch and Chuck
There’s a report that Robin Hood is auto selling shares....
https://patriots.win/p/11SKBwcLaN/report—robinhood-auto-selling-s/c/
...for “users own good”.