GameStop is Vile and Disgusting Part XXVII
#1351
DVD Talk Hero
Re: GameStop is Vile and Disgusting Part XXVII
Yep. My friends are all dipping their toes in, one has made a few hundred thousand. Good on em.
Friday and Monday are gonna be shitshows
Friday and Monday are gonna be shitshows
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doblbj2k (01-28-21)
#1352
DVD Talk Legend
Re: GameStop is Vile and Disgusting Part XXVII
Yes, I got in when it was around $38 a share, but only for a few shares with money I had laying around in my Robin Hood account. So it may end up helping offset some future expenses, but nothing I can retire over unfortunately. I vow to follow r/wallstreetbets more closely in the future, and promptly lose all my gains at a later date.
#1353
DVD Talk Hero
Re: GameStop is Vile and Disgusting Part XXVII
I love the "I started with $20k, made it to $1k and got back to $20k and still know nothing." posts on there
But 2 million+ person buying force is something to be reckoned with
But 2 million+ person buying force is something to be reckoned with
#1354
DVD Talk Legend
Join Date: Oct 2002
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Re: GameStop is Vile and Disgusting Part XXVII
Two hedge funds that were short selling the stock finally surrendered and bailed out today after losing billions. Now the same thing is happening with AMC. I don't pretend to understand all of this, but from what I've read it seems like smaller investors are organizing these mass stock purchases on Reddit forums as revenge on Wall Street short sellers.
#1355
DVD Talk Legend
Re: GameStop is Vile and Disgusting Part XXVII
It will be interesting to see when this all ends. One of biggest shorters, Melvin Capital, supposedly just liquidated. Eventually all the shorts will either cover or be liquidated. After that happens, you don't want to be holding any shares.
Trying to time the top in a parabolic market is very risky and basically impossible. A lot of people celebrating their profit now will end up in the red. I love that some hedge funds are taking huge hits after manipulating the markets illegally for years, but this can't end well for every single retail trader.
Trying to time the top in a parabolic market is very risky and basically impossible. A lot of people celebrating their profit now will end up in the red. I love that some hedge funds are taking huge hits after manipulating the markets illegally for years, but this can't end well for every single retail trader.
#1356
DVD Talk Hero
Re: GameStop is Vile and Disgusting Part XXVII
Are people still holding? I would have locked up at least most of my gain already.
#1357
DVD Talk Legend
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Deftones (01-27-21)
#1359
DVD Talk Legend & 2021 TOTY Winner
Re: GameStop is Vile and Disgusting Part XXVII
I bought $200 worth of AMC this morning. Right now I'm up about $70
#1360
DVD Talk Hero
Re: GameStop is Vile and Disgusting Part XXVII
My understanding of it in Gamestop's case, it was hedge funds writing too many options.
My boring, probably wrong explanation:
My boring, probably wrong explanation:
Spoiler:
Last edited by RichC2; 01-27-21 at 03:15 PM.
#1361
DVD Talk Hero
Re: GameStop is Vile and Disgusting Part XXVII
But basically you could also be left holding the bag if the shorts get covered for real, right? And what does this do to their stock price after that?
#1362
DVD Talk Hero
Re: GameStop is Vile and Disgusting Part XXVII
The stock would probably return to its earlier values, around $20. $0 is the bottom in a sell off, but those redditors are pretty loyal to this stock, so it may actually take a breather around $70.
But yeah, this isn't playing the stock market, it's high stakes chicken.
#1363
DVD Talk Hero
Re: GameStop is Vile and Disgusting Part XXVII
Surprised none of you have watched The Big Short. This is what's happening but instead of the mortgage industry, it's individual corporations that are getting shorted. Also, Elon Musk really needs to stop mentioning companies and whatnot. This is also pumping up speculation on what stocks people should buy. He's gonna be one of the first people scrutinized for "market manipulation.
#1364
DVD Talk Legend
Re: GameStop is Vile and Disgusting Part XXVII
Melvin Capital has fully not liquidated their position. They have liquidated a small fraction at best. There has not been enough movement of the stock to facilitate them covering all their short positions.
#1365
DVD Talk Hero
Re: GameStop is Vile and Disgusting Part XXVII
That is the general consensus.
That was the first thing that came to mind for me
Surprised none of you have watched The Big Short. This is what's happening but instead of the mortgage industry, it's individual corporations that are getting shorted. Also, Elon Musk really needs to stop mentioning companies and whatnot. This is also pumping up speculation on what stocks people should buy. He's gonna be one of the first people scrutinized for "market manipulation.
#1366
DVD Talk God
Re: GameStop is Vile and Disgusting Part XXVII
I’m not sure I get the gist of this GameStop thing. Sounds like it’s some kind of stock market scam. If someone can explain this in English for those who don’t follow the stock market, I would love some insight.
#1367
Re: GameStop is Vile and Disgusting Part XXVII
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Why So Blu? (01-28-21)
#1368
DVD Talk Hero
Re: GameStop is Vile and Disgusting Part XXVII
Basically, Hedge funds were selling stocks they didn't have to sell (140% guaranteed over what was actually available).
/r/wallstreetbets and other investors bought up the actual available shares and are holding those shares hostage when it comes time for the Hedge Fund to pay up. This is driving the price up an insane amount.
Initial enthusiasm about GameStop triggered it, but it no longer has much to do with them.
I think the Selena Gomez sequence may be a better explanation of this particular phenomenon, kind of (its still different). Though I do prefer the Margot Robbie scene.
/r/wallstreetbets and other investors bought up the actual available shares and are holding those shares hostage when it comes time for the Hedge Fund to pay up. This is driving the price up an insane amount.
Initial enthusiasm about GameStop triggered it, but it no longer has much to do with them.
I think the Selena Gomez sequence may be a better explanation of this particular phenomenon, kind of (its still different). Though I do prefer the Margot Robbie scene.
Last edited by RichC2; 01-27-21 at 05:12 PM.
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K&AJones (01-28-21)
#1369
DVD Talk Godfather & 2020 TOTY Winner
Re: GameStop is Vile and Disgusting Part XXVII
https://www.theguardian.com/business...il-wall-street
#1370
DVD Talk Legend
Re: GameStop is Vile and Disgusting Part XXVII
I know Musk has had some iffy tweets in the past, but I highly doubt he has any GME. He wouldn't have made that tweet if he did. If he doesn't have any GME, his tweet is perfectly fine.
#1372
DVD Talk Limited Edition
Re: GameStop is Vile and Disgusting Part XXVII
So what wall street is doing is still illegal isn't it?? I mean, how are they allowed to stop you from trading on specific stocks? It's because billionaires are starting to lose out right and by stopping the trading it will allow them to get out.
Just in general, I'm not sure how WS is allowed to do what they're doing.
I don't have the most knowledge when it comes to this stuff but in the black and white.....it seems like what they're doing is illegal.
Just in general, I'm not sure how WS is allowed to do what they're doing.
I don't have the most knowledge when it comes to this stuff but in the black and white.....it seems like what they're doing is illegal.
#1373
DVD Talk Hero
Re: GameStop is Vile and Disgusting Part XXVII
Yeah, what's happening now should very much be illegal, but a little money and power goes a long way.
#1374
DVD Talk Hall of Fame
Re: GameStop is Vile and Disgusting Part XXVII
In a nut shell....these High & Mighty Elitist on Wall Street thought it was going to be business as usual and they make a lot of $$$ and everyone laugh it up....well a group of people...those paying attention...on Reddit saw and knew exactlly what was happening and played the same game except turned the tables on these Hedge Funds blindsiding them and taking their pants, shirt, shoes and underwear and any and everything else....
...so what do they do...well since Wall Street...and Big Tech...are alll buddy-buddy....Hedgefunds that lost the clothes off their back went to Media and The Big Heads on Wall Street and shut this down including the Trading App - Robinhood.....basically, THEY and only THEY are allowed to do this, someone else (outsiders) played by the same rules, cleaned their clocks, they thru a temper-tantrum and even some company has pulled The Server linking Robinhood claiming...ready...violates their code and labeled it Hate Speech and Threat....no joke...
I find it odd that some single stock that was basically called trash, hardly a blimp, concern suddenly is in the entire Financial Spotlight, has some Democrats Attention and White House Monitoring...
White House Is Monitoring GameStop Stock Situation; AOC And Elizabeth Warren Weigh In
The situation surrounding GameStop's stock price has caught the attention of Biden's White House. .White House Is Monitoring GameStop Stock Situation; AOC And Elizabeth Warren Weigh In - GameSpot
...so what do they do...well since Wall Street...and Big Tech...are alll buddy-buddy....Hedgefunds that lost the clothes off their back went to Media and The Big Heads on Wall Street and shut this down including the Trading App - Robinhood.....basically, THEY and only THEY are allowed to do this, someone else (outsiders) played by the same rules, cleaned their clocks, they thru a temper-tantrum and even some company has pulled The Server linking Robinhood claiming...ready...violates their code and labeled it Hate Speech and Threat....no joke...
I find it odd that some single stock that was basically called trash, hardly a blimp, concern suddenly is in the entire Financial Spotlight, has some Democrats Attention and White House Monitoring...
White House Is Monitoring GameStop Stock Situation; AOC And Elizabeth Warren Weigh In
The situation surrounding GameStop's stock price has caught the attention of Biden's White House. .White House Is Monitoring GameStop Stock Situation; AOC And Elizabeth Warren Weigh In - GameSpot
Last edited by K&AJones; 01-28-21 at 02:31 PM.
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#1375
DVD Talk Hero
Re: GameStop is Vile and Disgusting Part XXVII
I think it's less that Wall Street and Big Tech are buddy buddy and more that Robin Hood is at least partially owned/beholden to Wall Street.