“..said he will no longer bet against companies”
Yeah.
Sure.
I don’t get it. Did any of the leaders of the Reddit retail buying crowd break any laws? If not, why are they being described in a manner that suggests they are criminals? I have never purchased stocks, so genuinely don’t know the answer.
This is like watching people betting ‘no pass’ at the craps table lose. Great stuff!
I wonder if, with the help of SEC and Fed.gov strong-arming the brokers, large hedge funds were already able to get out of their positions?
............TURN THOSE MACHINES BACK ON!!!!!................
He doesn't want to commit 'suicide'................
Robinhood should implode SHORTLY.....
If one buys an overpriced stock one may wind up owning the worthless bet of a bankrupt hedge fund.
If you have any financial exposure to anything this guy owns or controls, you might want to limit your risk. FTA: “In an unusual move, billionaire ‘Bond King’ Bill Gross endorsed Warren’s call, saying there was ‘justification’ to demands to ‘control this new form of social media investing.’” I think this would be a poor time to be aggravating people on social media.
“the SEC warns of ‘SEVERE losses’ amid stock market volatility as ‘Bounty Hunter of Wall Street’ who sniffed out companies to bet against gives up after being burned”
A better name than “bounty hunters” would be “vultures”. They look for an injured animal and peck away at it until they kill it.
Looks like the vultures are getting their comeuppance. .
If a stock is 115% shorted, unwinding 30% might cause the market to go back to near normal pricing.
I’m not an expert in the field.
It seems like a great time to short gamestop, now. I bet that’s what the hedge funds are doing, now, to try and recoup some of their losses. Is this accurate? This stock is destined to fall, right? It just can’t stay near this level, can it? I’m probably missing something.
I think this is funny as crap! The small investor beats the huge hedge funds at their own game.
What a hoot! Great going y’all.
What is this Bounty Hunter of Wall Street moniker?
And what is this “betting against companies”? I mean, what does it mean?, And what does it not mean?
Some fun facts about the stock market - It was at its highest in history on Jan 20, the last day Trump was President.
It fell below 30,000 today.
If Game Stop has any shares in the treasury, they should sell them now, and that will pump the company full of cash, and may make it more viable as it works out new marketing strategies.
George Soros in 1992 shorted the British pound and made a billion.
https://www.investopedia.com/ask/answers/08/george-soros-bank-of-england.asp
“Soros, for his part in “enforcing” market dynamics, pocketed $1 billion on the deal and cemented his reputation as the premier currency speculator in the world.”
“Spotting the writing on the wall, Britain upped its interest rates to the teens in an effort to attract more people to the pound. However, speculators such as George Soros began to heavily short the currency.6 Consequently, the British government gave in and withdrew from the ERM, once it became clear that it was losing billions of pounds in its attempt to artificially buoy its currency to higher levels.”
We know that the short position that the hedge fund dudes had taken was as high as 140% of the float but as I read this at the close of Friday trading, it would appear that this number still is at about 120% of the float. Plus the stock price at this very moment is $320. It would appear to me that those who bought it up are looking like they are going to hold so this fun looks like it is going to last a bunch longer...and in fact, it might just be starting.
Does this not appear to be a Mexican standoff? Or am I missing something?
https://www.marketwatch.com/investing/stock/gme