it wasnt because of reddit that moron fucked up. He chose to short GME on a Christmas season where literally the only thing kids can do is play video games. Short interest on any stock is public information.
Its a good story to say the people beat some wall street fat cat though lol
Their Q4 earnings don't come out in Q4. Their Q3 earnings were whatever. Had nothing to do with that. It was the response to the shorts that caused the short squeeze.
If you are going to be forced to buy every share of a stock on a certain date regardless of price, you damn sure don't let anyone know about it or they will just run up the price for when you are forced to buy it.
This isn't market manipulation and it isn't rocket science, it's just one stupid faggot bragging about how smart he is(n't).
It depends entirely on how the funds squeezed are funded. If they are made up of your 401ks, then basically you have paid money to someone to lose money for you. This does not appear to be the case for funds like Melvin Capital.
The other way is if the funds in question do a massive selloff elsewhere to cover for these losses. So you get hit by 2nd and 3rd order effects, as your other stock prices tank. This only happens of they reach a point where they need to raise cash instantly. I dont think this appears to be the case yet either, since the prime culprit, Melvin Capital just got bailed out.
The sudden interest in retail investing is the bigger indicator here. The optimism for "stonks" is bringing in folks from the sidelines, and the Fed's perpetual growth monetary policy is feeding the "stocks can't lose" sentiment. Plus, record low returns on debt moves even more people into equity products.
With US demographics, we have a large portion of the population that is dependent on equity investments to maintain their retirement. If that fails, many will (be forced to) return to the labor market on some capacity.
We're potentially looking at high inflation, high unemployment, loss of wealth in nominal and real terms, defaults on debt across the board. Funny thing is the the bail out is going to be worse than the bubble popping. The Great Reset is repackaged feudalism.
Pumping up the stock value up to fuck over hedge funds that naked shorted gamestop’s stock. A naked short is where there isn’t enough stocks available to cover the short. Theoretically shorting a stock is illegal if you don’t cover the short to existing real stocks. In this case it’s wall street fuckery since the short contracts have more stocks than exist, so no way it’s possible the shorts are legal.
Reddit got together and started buying Gamestop’s stock to increase it’s value, this will fuck over anyone with a short contract big time.
I had like 1200 stocks, but I sold to take money out of Robinhood. Cursed app. Webull took fucking forever to settle funds, so I took out the cash instead. Fuck Robinhood.
Gamergate and gamestop the gaming community at it again !!
What are they doing exactly?
Some moron hedge fund manager told everyone of his plan to short GME, which has low float and Reddit saw it and caused a short squeeze.
Gamestop stock has gone from $4 flat to $140+ as hedge fund managers and internet trolls are waging war against each other.
https://finance.yahoo.com/quote/GME
Shit it just blew up to $300 when the market just opened.
It's currently at $310
Nah regular joes, who work 9 to 5s, who invest are waging war against hedge fund managers who are shorting stocks. Get it right.
Battletoads
lmao love it hope the hedge fund managers lose billions
it wasnt because of reddit that moron fucked up. He chose to short GME on a Christmas season where literally the only thing kids can do is play video games. Short interest on any stock is public information.
Its a good story to say the people beat some wall street fat cat though lol
Yeah but GME is shitty business. So its understandable.
That is why everyone is shocked. 100%+ for GME?
Their Q4 earnings don't come out in Q4. Their Q3 earnings were whatever. Had nothing to do with that. It was the response to the shorts that caused the short squeeze.
The short wasn't the mistake.
The mistake was talking about it.
If you are going to be forced to buy every share of a stock on a certain date regardless of price, you damn sure don't let anyone know about it or they will just run up the price for when you are forced to buy it.
This isn't market manipulation and it isn't rocket science, it's just one stupid faggot bragging about how smart he is(n't).
4chan was also on it and they all had the price target of $1488
Not only that, but the short was over 100% of available stock.
Just make some rich people bankrupt
Nice.
Expect some brokers and traders to be jumping out of windows at tomorrow's closing.
TL:DR: Ancaps beat the Ancoms in actually hurting Billionaires.
It depends entirely on how the funds squeezed are funded. If they are made up of your 401ks, then basically you have paid money to someone to lose money for you. This does not appear to be the case for funds like Melvin Capital.
The other way is if the funds in question do a massive selloff elsewhere to cover for these losses. So you get hit by 2nd and 3rd order effects, as your other stock prices tank. This only happens of they reach a point where they need to raise cash instantly. I dont think this appears to be the case yet either, since the prime culprit, Melvin Capital just got bailed out.
The sudden interest in retail investing is the bigger indicator here. The optimism for "stonks" is bringing in folks from the sidelines, and the Fed's perpetual growth monetary policy is feeding the "stocks can't lose" sentiment. Plus, record low returns on debt moves even more people into equity products.
With US demographics, we have a large portion of the population that is dependent on equity investments to maintain their retirement. If that fails, many will (be forced to) return to the labor market on some capacity.
We're potentially looking at high inflation, high unemployment, loss of wealth in nominal and real terms, defaults on debt across the board. Funny thing is the the bail out is going to be worse than the bubble popping. The Great Reset is repackaged feudalism.
As opposed to the already coming disaster?
Boomer retirement funds? Are these the same boomers who let gubmint run unchecked for 50 years?
Pumping up the stock value up to fuck over hedge funds that naked shorted gamestop’s stock. A naked short is where there isn’t enough stocks available to cover the short. Theoretically shorting a stock is illegal if you don’t cover the short to existing real stocks. In this case it’s wall street fuckery since the short contracts have more stocks than exist, so no way it’s possible the shorts are legal.
Reddit got together and started buying Gamestop’s stock to increase it’s value, this will fuck over anyone with a short contract big time.
essentially Reddit trolled the economy.
2014: Zoe Quinn fucks Nathan Grayson from Kotaku to get him to cover her shitty indie game.
2021: Gamers are waging war against Wall Street and they're winning.
This timeline can be downright surreal at times.
It's a thing of beauty, isn't it?
Tons of short positions must have been margin called by now. NASDAQ cucks will probably call circut breaker shortly.
I hate when that happens. I had tons of stock in vax companies sold mid level before they blew up due to covid. What regret.
I had like 1200 stocks, but I sold to take money out of Robinhood. Cursed app. Webull took fucking forever to settle funds, so I took out the cash instead. Fuck Robinhood.
You poor bastard.
Is that like a water main break?
It's already down $64 since open - methinks the bubble popped.