Posted on 01/26/2021 9:36:23 PM PST by yesthatjallen
Amateur investors piled further into niche stocks on Tuesday, sending professional short sellers scrambling to cover losing bets, with GameStop skyrocketing for a fourth straight day, thanks in part to Elon Musk.
GameStop surged 50% in extended trade after Musk tweeted “Gamestonk!!”, along with a link to Reddit’s Wallstreetbets stock trading discussion group, where supporters affectionately refer to the Tesla CEO as “Papa Musk.” “Stonks” is a tongue-in-cheek term for stocks widely used on social media.
GameStop’s after-hours surge added to a 93% jump during Tuesday’s roller coaster trading session, with the videogame retailer’s stock propelled by traders on Wallstreetbets, many of them buying volatile call options.
The share spikes of the last few days are raising questions about potential regulatory clampdowns from the U.S. Securities and Exchange Commission.
“Such volatile trading fueled by opinions where there appears to be little corporate activity to justify the price movement is exactly what SEC investigations are made of,” said Jacob Frenkel, Securities Enforcement Practice Chair for law firm Dickinson Wright and former SEC enforcement attorney. The SEC declined comment.
SNIP
(Excerpt) Read more at reuters.com ...
So he is mad a bunch of ants decided to swarm the market and eat his friends.
Yep, they will be deplatformed. But does it matter?
What is the SEC going to enforce? They’re committing weaponized autism out in the open. You and I can read what they’re doing.
Shutdown the reddit feed? They’ll move elsewhere.
Is the SEC going to take their PC? They’ll buy a new one with their robinhood account.
This is the warm-up. Wait until the gamers get good at this.
Concentratedfrozenorangejuicestonk!
I like this one better:
Like 4chan found Bloomberg Terminal
Looks like a flash mob has decided to stick it to short sellers...
Best I can tell from this article
10Y Yield Tumbles Below 1.00% As Liquidations Lash Stocks
https://www.zerohedge.com/markets/10y-yield-tumbles-below-100-liquidations-lash-stocks
Which will lead to calls for mass arrests. Playing games with the elite is no longer acceptable, and in the current glorious leadership punished quickly.
I honestly don’t have a dog in this fight, and I am not sure how this will play out.
They’re on Telegram as WallStreetBets.
I think they will first go after Elon Musk, first, his tweet having started the run. But yes, I’m sure they’ve already assembled a crack team looking into ways of making sure this group never again upsets the gambling house advantage.
I know. I bought AMC yesterday at $5.07 and sold it around 9:15 for $25.14. It then tanked to $12. Best trade of my life, and I've been doing this a LONG time.
These Millenials and Zoomers have this Gen Xer's respect for taking on the Wall St. "Boomers".
In Unprecedented Move, TD Ameritrade Puts "Restrictions" On Transactions In GME, AMC
Retail Brokerages Suffer Widespread Outages As Short-Squeeze Surge Accelerates
Nokia & Blackberry have their attention now.
GameStopped
https://www.zerohedge.com/news/2021-01-27/gamestopped
Striking Back At The Establishment In a post earlier this month (The Establishment Strikes Back), we wrote about how the capital wing of establishment cracked down on Trump and his supporters. One motivation behind WallStreetBets' short squeeze/gamma squeeze is of course to make money. But another apparently is to strike back at the establishment. One cynical tweeter tied the two points neatly together:
Lobbing the Trump grenade into DC was fun. Eventually they shut that down by taking away the ability to participate in elections.
Blowing up a bunch of Cohen's bank accounts is fun. Eventually they will shut this down by taking away the ability to participate in markets.
— HankHeIl (@HankHeil) January 26, 2021
https://www.zerohedge.com/markets/most-shorted-stocks-update-here-come-microcaps
I dont think they are quite done with AMC. Moving higher again. VAST shorts on that stock to burn. Likely hits 25 again today.
KOSS will likely also see $50 today. Huge shorts in that one, which I also bought yesterday (but sold too soon today)
Gamestop still exists? There are limitations to what company officers can say in public when a company is publicly traded. Social media counts. Even non-officers can run into trouble talking a stock up for a dump.
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