Stop being a moron.
This is the greatest example in history of American Capitalism being a sham, and you still can't pull the wall street dick from your mouth.
GME
- Thread starter NinjaKnight
- Start date
This is the greatest example in history of American Capitalism being a sham, and you still can't pull the wall street dick from your mouth.
Get the dick out yo mouth. It is failing right before your eyes and you still can't bring yourself to admit it.
They're still shorting the same stock dumb shit. Still 140%
It seems to me that its pretty immoral to profit off of a company thats going out of business. Yeah, its a part of market fundamentals but it still doesn't seem right.
They borrow money to sell shares they don't own to tank the price so they can actually pay for the stock when the price is lower. It should just be illegal. There is no economic gain with forcing a company out of business. All the money made comes from other people's losses.
...and they were doing it with their 0% interest rates and COVID bailouts while ordinary Americans get their $600 stimmies. The crooks are being exposed and still people refuse to notice.
What part of preventing investors from making purchases in a coordinated effort to minimize losses to hedge funds caught with their pants down screams "capitalism" to you? This isn't the market fixing itself...
These are real people, people with 3 or 4 private jets, that are losing money. Something had to be done to protect their nesting doll yachts.
I'm honestly thinking about shifting my 401k and IRA funds to bonds today, for the next couple weeks. This GME thing could have some serious repercussions if brokers and banks get hit.
It all comes down to one thing, have the hedge funds covered their short positions already? If they haven't, which is what people are expecting, then this is all just the beginning. If they have, nothingburger.
It all comes down to one thing, have the hedge funds covered their short positions already? If they haven't, which is what people are expecting, then this is all just the beginning. If they have, nothingburger.
Not to mention that the 200 point drop in GME on Thursday was all caused by market attacks. 200 point drop, with no volume in trading? It was the hedge funds trading back and forth trying to get investors scared enough to sell. They are trying everything in their handbook.
Shorting a company causes an artificial drop in share price which triggers other sales. There is no economic value gained through this mechanism of the market.
30% is a little low. The shorts aren't all concentrated, usually. There is an equilibrium somewhere...
I still can't imagine they haven't covered their shorts, yet. That's why I haven't jumped in. I imagine Monday morning, GME is going to open at 90, and this will all be fizzled out with a bunch of noobs losing their money.
Retail investment vehicles have ensured sell pressure only so any spike increase is likely due to a short squeeze.
That's why this thing going viral is going to be the failure of it. When it was just reddit guys, they could control it and hold. With normies getting involved, they are going to panic and sell. The key is holding. It might be a couple months for the full squeeze. The longer out the options are, the better for the hedge funds, unless the reddit guys hold.
My portfolio is fine today. If you are in broad stocks and not hedged with gold you are playing this hyper inflated market incorrectly.
Also the market has little to do with the economy and more to do with the interest rate cuts and trillions of dollars of liquidity pumped into the system.
This has more to do with financial deregulation and 0% interest rates, and zero to do with Biden. So, once again, Republicans done f*cked up.
If the end result was a down market, the 'joke' wasn't all that funny.
It did highlight yet again how vulnerable the world's financial markets are in this high-tech trading era.
113% still short sold, and borrowing fees are going up. Squeeze is going to begin, soon. Everyone with GME needs to hold. We are just getting started.
"GameStop short sellers not quitting despite $20 billion losses this month" https://www.cnbc.com/amp/2021/01/29...te-nearly-20-billion-in-losses-this-year.html
"GameStop short sellers not quitting despite $20 billion losses this month" https://www.cnbc.com/amp/2021/01/29...te-nearly-20-billion-in-losses-this-year.html
It looked like that last week when it went from 480 to 117 in 3 hours. It's far more stable now.
No, obviously not. As soon as all of the shorts are covered I'm sure it will decline pretty rapidly, but even then there will be a lot of money to be made as it comes down.
It’s cute that you think stock prices in today’s market are in any way indicative of a company’s value.
This has nothing to do with GameStop as a company. It could have been BuildABear, Twitch, Darden, Arby's, or any other company. It was all about the illegal short position hedge funds have chosen, and the illegal efforts to protect them after it was found out.
Except retail investors can't buy more without switching trading platforms now. That's been the problem.
Liberals should love this. It's been a 22 billion dollar redistribution of wealth. Far more efficient than taxing the rich.
Price can only go down. Nobody is allowed to buy except hedge funds to cover their shorts.
Nope. The smart money is now positioned and trading will be opened up completely to the day traders. Wall Street will recover their short losses now. Stay the heck away from this stock now, the money that could be made, has been made.
I wouldnt buy it now, but a lot of people made money during this whole thing, not really sure why you seem so upset about this.
Agree. But it isn't going to $4 anytime soon and they did 40% of their sales online. No reason to doubt they can't make the switch to an online business model.
I could care less, a bunch of millionaires got one over on the Billionaires that usually screw them.
That's some bullshit right there.This guy took his stimulus money and actually cashed out of the gambling at $36k. Not bad for a small time investment.
How many people lost their stimulus money gambling though?
GameStop trader ‘Roaring Kitty’ may soon purr to federal regulators
The Boston-area trader at the center of the past week’s frenzy over GameStop Corp., who also worked until last week as a broker, may face legal jeopardy for potential violations of federal rules governing brokers’ communications with the public, according to securities lawyers.www.foxbusiness.com
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