OT: $GME

GretnaShawn

Graduate Assistant
Sep 28, 2010
5,739
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Everything that got squeezed up today has now cratered in the last 30 minutes. I see BB down almost 20% in the last half hour. A lot of the "unwashed masses" that played this game are either about to be holding some expensive bags or will have a gross decision to make.

No doubt some people jumping on the bandwagon are going to get left holding the bag. But there are tons of regular people that made a shit load and there is one big ass hedge fund losing their shirt. Hell, it sounds like the Mets owner lost $750 million.

Some of the unwashed masses will lose. A bunch have already won and some are considering the middle finger to the institutions a win in itself.
 
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CameronKrazie86

Sophomore
Jun 16, 2004
1,172
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I made a little over $7,000 on it before I bounced. In on $NAKD and $AMC and was able to buy back more of the stocks I sold yesterday to fund my $GME adventure. Was up 70% since August with my current stocks that I had sold so I figure getting more of what I had will probably be a good idea long term.
 

Swiv3D

Redshirt Freshman
Dec 19, 2018
548
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The market is the big picture. GME just dropped $100 in 15 minutes. Retail are being swindled here. Just like the cryptocurrency market they are being lured in by the media and delusions of "sticking it to the big guys."
Retail is always swindled. You regurgitating CNBC almost verbatim shows that you really don't see the real big picture.
 
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John_J_Rambo

Graduate Assistant
Jan 10, 2020
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the suits kicked the hornet's nest and tomorrow will be the most explosive one yet

the media hates retailers, all CNBC and bloomberg have done last 2 days is call them irresponsible morons, parading out suit after suit to talk about fundamentals

I cannot wait to print more duckets tomorrow!!! to the moon!!!!!!
 
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chicolby

All-American
May 3, 2012
4,146
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Her party stopped counting votes and rigged the machines. This seems like it would be right up her alley.
And there is the one. There's always one. It is so tiring that people can't have a legitimate conversation about anything happening in the world without someone inserting politics and even further, debunked conspiracy theories. Please stick with facts and participate like a normal person.
 

Suhrreal

Graduate Assistant
Jun 1, 2009
5,975
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Retail is always swindled. You regurgitating CNBC almost verbatim shows that you really don't see the real big picture.

I don't watch CNBC, so I'm not sure what you're trying to say.


As I said, maybe a hedge fund or two takes a strike in this ordeal, but the good 'ole boys are the ones making out like bandits. And they are taking retail money in the process of doing so.
 

litespeedhuskerfan

Nebraska Football Hall of Fame
Aug 27, 2006
19,144
11,331
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And there is the one. There's always one. It is so tiring that people can't have a legitimate conversation about anything happening in the world without someone inserting politics and even further, debunked conspiracy theories. Please stick with facts and participate like a normal person.

Was your TV and Internet working from 2016-2020?
 

drubendall

Senior
Apr 18, 2004
2,780
4,005
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I don't watch CNBC, so I'm not sure what you're trying to say.


As I said, maybe a hedge fund or two takes a strike in this ordeal, but the good 'ole boys are the ones making out like bandits. And they are taking retail money in the process of doing so.
Wouldn't MUST consider themselves the luckiest bastards on the face of the earth? Afterall, Melvin Capital wanted to grind the stock into dust, and that backfired. After a billion in profit, yeah, I'm going to lock that in. No point in getting greedy!
 
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drubendall

Senior
Apr 18, 2004
2,780
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Was your TV and Internet working from 2016-2020? Mine was....I assume yours was to....so you saw your side politicize everything. Nothing was sacred...even hurricains were the rights fault.
yeah, lotta talk about unifying. I've been searching the world over for an example. Just one. Instead, I see a lot of petty vindictiveness and dangerous rhetoric that would make even the fuhrer blush.
 

litespeedhuskerfan

Nebraska Football Hall of Fame
Aug 27, 2006
19,144
11,331
113
yeah, lotta talk about unifying. I've been searching the world over for an example. Just one. Instead, I see a lot of petty vindictiveness and dangerous rhetoric that would make even the fuhrer blush.

I deleted 95% of that as I no wish to get this thread off the rails......
 

Suhrreal

Graduate Assistant
Jun 1, 2009
5,975
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Wouldn't MUST consider themselves the luckiest bastards on the face of the earth? Afterall, Melvin Capital wanted to grind the stock into dust, and that backfired. After a billion in profit, yeah, I'm going to lock that in. No point in getting greedy!

I guess I should be a little more clear in what I think happened. Somebody out there does not like Melvin Capital for whatever reason. Rich vs. rich grudge or maybe just an opportunity spotted. I say this because if you look at Melvin Capital's short positions, it seems like a huge percentage of them have been under blistering attack going back many months.

So what do you do after you have accumulated a huge base of these shorted stocks? You hire a few smart marketing/computer people and begin an anonymous campaign on reddit and social media to buy all these stocks up. There are a million anonymous accounts on WSB. How do the "unwashed masses" tell the difference between any old anonymous account and a bot posting to buy these stocks multiple times per day? They don't. They just assume other retail are on board with this operation and buy buy buy.

"We're sticking it to the big guy, let's go!" is the rallying cry.

When the operation becomes a smashing success, you bring the traditional media into it and begin to cash out of your positions at major profit levels. The media confirms the retail bias and voila, retail stuck holding $500 bags on a stock that was trading for $3 last year.

No different than the Bitcoin playbook.
 

drubendall

Senior
Apr 18, 2004
2,780
4,005
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I guess I should be a little more clear in what I think happened. Somebody out there does not like Melvin Capital for whatever reason. Rich vs. rich grudge or maybe just an opportunity spotted. I say this because if you look at Melvin Capital's short positions, it seems like a huge percentage of them have been under blistering attack going back many months.

So what do you do after you have accumulated a huge base of these shorted stocks? You hire a few smart marketing/computer people and begin an anonymous campaign on reddit and social media to buy all these stocks up. There are a million anonymous accounts on WSB. How do the "unwashed masses" tell the difference between any old anonymous account and a bot posting to buy these stocks multiple times per day? They don't. They just assume other retail are on board with this operation and buy buy buy.

"We're sticking it to the big guy, let's go!" is the rallying cry.

When the operation becomes a smashing success, you bring the traditional media into it and begin to cash out of your positions at major profit levels. The media confirms the retail bias and voila, retail stuck holding $500 bags on a stock that was trading for $3 last year.

No different than the Bitcoin playbook.
I appreciate your perspective on that. It's fun to follow and speculate as to what's really driving events. I don't have the stomach for day trading. I'll stick with the long game. Anyone can see Gamestop is headed for the trash heap of history eventually. There's nothing special about that company and no reason to believe their fortunes will change. I"m basically a Boglehead at heart.
 

John_J_Rambo

Graduate Assistant
Jan 10, 2020
5,348
9,433
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I guess I should be a little more clear in what I think happened. Somebody out there does not like Melvin Capital for whatever reason. Rich vs. rich grudge or maybe just an opportunity spotted. I say this because if you look at Melvin Capital's short positions, it seems like a huge percentage of them have been under blistering attack going back many months.

So what do you do after you have accumulated a huge base of these shorted stocks? You hire a few smart marketing/computer people and begin an anonymous campaign on reddit and social media to buy all these stocks up. There are a million anonymous accounts on WSB. How do the "unwashed masses" tell the difference between any old anonymous account and a bot posting to buy these stocks multiple times per day? They don't. They just assume other retail are on board with this operation and buy buy buy.

"We're sticking it to the big guy, let's go!" is the rallying cry.

When the operation becomes a smashing success, you bring the traditional media into it and begin to cash out of your positions at major profit levels. The media confirms the retail bias and voila, retail stuck holding $500 bags on a stock that was trading for $3 last year.

No different than the Bitcoin playbook.
it was an over leveraged position (shorts outran shares by 140%)

Michael Burry - the same guy who shorted the housing market in 2008 (The Big Short) - discovered this anomaly in Aug & sent a public letter to GME board describing shareholder earnings potential.

letter made its way to reddit, which has had a forum about stock trading since the advent of the site.

retailers bought to force short squeeze (this is not uncommon) & beat these funds at their own game (shorts artificially deflate price when this heavy).

now, they're trying to change the rules so they don't lose money.

@Suhrreal is right about potential to hold the bag. however, this has now become more than a simple within-the-rules manipulation.

I hope everyone long in these positions makes a fortune and everyone short is in the soup line.

EDIT: this has nothing to do with GameStop the business and everything to do with taking advantage of a greedy, over-leveraged position hedge funds have taken on this particular symbol.
 

Crazyhole

Senior
Jun 4, 2004
2,344
3,438
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it was an over leveraged position (shorts outran shares by 140%)

Michael Burry - the same guy who shorted the housing market in 2008 (The Big Short) - discovered this anomaly in Aug & sent a public letter to GME board describing shareholder earnings potential.

letter made its way to reddit, which has had a forum about stock trading since the advent of the site.

retailers bought to force short squeeze (this is not uncommon) & beat these funds at their own game (shorts artificially deflate price when this heavy).

now, they're trying to change the rules so they don't lose money.

@Suhrreal is right about potential to hold the bag. however, this has now become more than a simple within-the-rules manipulation.

I hope everyone long in these positions makes a fortune and everyone short is in the soup line.

EDIT: this has nothing to do with GameStop the business and everything to do with taking advantage of a greedy, over-leveraged position hedge funds have taken on this particular symbol.
At this point all we know is that somebody is going to be in the group that loses 25 billion and somebody is going to be in the group that makes 25 billion. Chances are, its going to be the little guy that takes the brunt of that.
 

John_J_Rambo

Graduate Assistant
Jan 10, 2020
5,348
9,433
113
At this point all we know is that somebody is going to be in the group that loses 25 billion and somebody is going to be in the group that makes 25 billion. Chances are, its going to be the little guy that takes the brunt of that.
there's so much smoke out there from everywhere, by close tomorrow the hedge funds might be the little guy