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NFT: NFT: wallstreetbets and gamestop stock

Producer : 1/26/2021 9:28 am
so to you traders out there, and wall st experts. Is the run at GME stock and now BB a legit movement to balance the scales? Or is it BS and not worth following as a potential investment opportunity.

For those not in the know I have linked to a twitter summary.
twitter summary of wallstreetbets run at GME - ( New Window )
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RE: .  
RomanWH : 1/26/2021 10:25 pm : link
In comment 15135443 pjcas18 said:
Quote:


Quote:


Tanay Jaipuria
@tanayj
The redditor who started the $GME saga DeepFuckingValue has turned his $50K position into >$22M

https://reddit.com/r/wallstreetbe





And he's not selling. FYI, he's got a youtube channel. Yes, it's him.
Roaring Kitty - ( New Window )
RE: RE: Watch out for $AMC  
Mike from SI : 1/26/2021 11:13 pm : link
In comment 15135439 JayBinQueens said:
Quote:
In comment 15135308 glowrider said:


Quote:


It looks like the same guys who were promoting $GME on stocktwits are pushing $amc with significant AH action.


What was the logic behind AMC?


LOGIC???? HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
RE: Re SEC  
PatersonPlank : 1/26/2021 11:23 pm : link
In comment 15135170 Mike from SI said:
Quote:
I'm not taking sides, I'm just fascinated by this whole thing. I do think you can conspire with a bunch of strangers on the internet to manipulate a stock and that's illegal (NOT saying that is necessarily happening here). I do think you can fine RandomRedditor69420 for pumping and dumping a stock on the message board if that's what he's doing (again, NOT saying anyone is doing that).

On the one hand, if the SEC goes after some of these Reddit individuals, it looks like it's unfairly favoring the hedge funds with short positions (as one could argue they manipulate prices in a more sophisticated/acceptable manner). If the SEC does nothing, do we want to live in a world where a bunch of people on Reddit can just decide on one stock and then pump it to the moon to squeeze the shorts?

I don't have any good answers here I just think it's interesting to consider.


One point, what you say about Reddit above is exactly the same thing the "shorts" have been doing. In these extreme cases it's not just some people betting against a stock. Its an organized effort of buying lots of puts and then going to the media with negative news. Same on both sides
I bought it as a value stock in early December.  
Knineteen : 1/26/2021 11:51 pm : link
I honestly don't know much about the stock market and have no clue what to do with this thing.
I was going to sell over the weekend at $65 and be happy. Now it's at $200.
Last week I joked I would sell at $200. Should I amend that figure to $500?
AMC, EXPR, and KOSS  
KWALL2 : 1/27/2021 9:12 am : link
Heavily shorted. And surging in after hours. AMC up 300% in after hours. Of course, I sold it yesterday. Yes, yesterday about 15 min before close. :(
GME now up to $315  
UConn4523 : 1/27/2021 9:21 am : link
this is nuts
Wait until the options start flowing in five minutes  
glowrider : 1/27/2021 9:26 am : link
I imagine it will be a halty day.
I"m not apart of this, but its good to see these hedge fund assholes  
Zeke's Alibi : 1/27/2021 9:30 am : link
get called out. Was reading on Reddit that this short didn't make much sense other these guys knew the perception of a company like Gamestop. Brick and mortar retail company and would bail once they got the ball rolling on trashing the stock. They put out a pretty detailed post as to the reasons why and most of it had to do with their board who have a succesful eCommerce story with Chewy. Their financials are actually pretty solid for a brick and mortar retail store and their business hasn't been shrinking nearly as fast as predicted. Score one for the autists over on Reddit.
looks like it finally met some resistance at $300  
UConn4523 : 1/27/2021 10:01 am : link
GME has been a topic of discussion with my friends for months now. Personally I see them shifting into more of a gaming brand than retailer. I can see a big box store buying them and marketing their entire electronics department as "Gamestop". Its kinda how I feel the XFL will go to - less about football and more of a brand that will have its toe in many facets of the entertainment industry.

Just my $0.02, could be completely wrong of course.
BTW  
Jim in Fairfax : 1/27/2021 10:16 am : link
“ Blue Horseshoe loves Anacott Steel”
I bought 13 shares yesterday at 88  
Heisenberg : 1/27/2021 10:27 am : link
Just sold 4 to recoup the initial investment. Still have the rest and I'm playing with house money now. I don't believe everything that these WSB guys are saying but I believe that they believe it. So, I'm in to see how far they can pump this thing up before it collapses like a house of cards.
My goodness this is crazy  
glowrider : 1/27/2021 11:00 am : link
GME at 370 and AMC at 16
EXPR  
KWALL2 : 1/27/2021 11:09 am : link
Up 200% today too. Not getting talked about as much. I sold AMC yesterday but holding this one since Mon at $3.1.
ok guys so suppose i have $100 to play with  
DC Gmen Fan : 1/27/2021 11:39 am : link
what do i do? lol
RE: ok guys so suppose i have $100 to play with  
UConn4523 : 1/27/2021 11:43 am : link
In comment 15135825 DC Gmen Fan said:
Quote:
what do i do? lol


I don't know what $100 means to you if you lose it all but if you don't really care about it then just pick one. GME to me probably has an end soon in sight but AMC could be a decent gamble. I also think the movie industry will be back so long term its probably a solid investment.
I lol'ed  
widmerseyebrow : 1/27/2021 11:53 am : link
This is shady as hell - they're on CNBC saying people don't know wtf  
glowrider : 1/27/2021 12:09 pm : link
they're doing and we just want to help the little guy be better, so we need to stop this.

The brokers have put restrictions on these stocks now, in addition to the halts.

God forbid retail traders get an edge.
A little advice from you experts please  
montanagiant : 1/27/2021 12:09 pm : link
Being a novice what books would you guys recommend to get started trading?

Thanks in advance
RE: This is shady as hell - they're on CNBC saying people don't know wtf  
JayBinQueens : 1/27/2021 12:17 pm : link
In comment 15135865 glowrider said:
Quote:
they're doing and we just want to help the little guy be better, so we need to stop this.

The brokers have put restrictions on these stocks now, in addition to the halts.

God forbid retail traders get an edge.


Of course they're going to say that. F them.


The only restrictions i saw were buying shorts on GME & AMC
Chamath Palihapitya  
KWALL2 : 1/27/2021 12:21 pm : link
Crushing the host on CNBC who's saying the retail guys are fools while the hedge fund shorts 150% of the companies stock.
Could this be the beginning of the end of the foundations  
DC Gmen Fan : 1/27/2021 12:25 pm : link
of the stock market? I mean hell if Elon can tweet one word and send the market into a tizzy, and reddit can influence like this, what is the end game?
RE: Chamath Palihapitya  
Bear vs Shark : 1/27/2021 12:31 pm : link
In comment 15135885 KWALL2 said:
Quote:
Crushing the host on CNBC who's saying the retail guys are fools while the hedge fund shorts 150% of the companies stock.
I'm a big fan of his. Anyway, anecdotally, I've seen a lot of my friends who were not really inclined to invest at all become retail investors during Covid. I genuinely wonder if the "democratization" so to speak of trading, via apps like Robinhood, is permanently ushering in a new era of significantly higher levels of retail traders.
Is Melvin floating a lie?  
widmerseyebrow : 1/27/2021 12:31 pm : link
This video of CNBC/Andrew Sorkin is making the rounds as a
veiled attempt to trick the reddit squad into stopping.

I would think this is easy to verify, no? If Melvin didn't actually exit, could this be subject to SEC investigation?
Link - ( New Window )
Bear vs Shark  
KWALL2 : 1/27/2021 12:50 pm : link
Are you in any of his SPACS?
Retail trading like this is definitely the future  
UConn4523 : 1/27/2021 12:54 pm : link
People want to invest their money without the hassle of the major brokerage firms, or deal with the quirky fees. This generation is about ease of use and transparency.
Caught the tail end  
RomanWH : 1/27/2021 12:55 pm : link
of the Chamath segment on CNBC. Solid work on his part. Completely agree with his call for full transparency. It's a factor in why so many ppl love Cathie Woods' Ark Investment ETFs.
RE: Chamath Palihapitya  
glowrider : 1/27/2021 12:58 pm : link
In comment 15135885 KWALL2 said:
Quote:
Crushing the host on CNBC who's saying the retail guys are fools while the hedge fund shorts 150% of the companies stock.


That was so cringey and tone deaf by Wapner. Chamath took him behind the woodshed.
RE: RE: Re SEC  
Mike from SI : 1/27/2021 1:00 pm : link
In comment 15135487 PatersonPlank said:
Quote:
In comment 15135170 Mike from SI said:


Quote:


I'm not taking sides, I'm just fascinated by this whole thing. I do think you can conspire with a bunch of strangers on the internet to manipulate a stock and that's illegal (NOT saying that is necessarily happening here). I do think you can fine RandomRedditor69420 for pumping and dumping a stock on the message board if that's what he's doing (again, NOT saying anyone is doing that).

On the one hand, if the SEC goes after some of these Reddit individuals, it looks like it's unfairly favoring the hedge funds with short positions (as one could argue they manipulate prices in a more sophisticated/acceptable manner). If the SEC does nothing, do we want to live in a world where a bunch of people on Reddit can just decide on one stock and then pump it to the moon to squeeze the shorts?

I don't have any good answers here I just think it's interesting to consider.



One point, what you say about Reddit above is exactly the same thing the "shorts" have been doing. In these extreme cases it's not just some people betting against a stock. Its an organized effort of buying lots of puts and then going to the media with negative news. Same on both sides


Yeah that's what I meant by "as one could argue they manipulate prices in a more sophisticated/acceptable manner."

There can be a really thin line between having a strong belief and announcing/broadcasting it versus market manipulation. I think what the SEC will try to do is pick off a few of the bigger "bad" actors who are more clearly trying to manipulate, but again that's hard to determine. A good defense lawyer defending an individual Redditor will go to a jury and frame it as SEC/hedge funds versus the little guy. I'm so glad I don't work at the SEC right now lol.
Who is going to be left holding the  
pjcas18 : 1/27/2021 1:06 pm : link
bag?

Even if you believe fundamentally there was no reason to short game stop other than manipulation, there's also no fundamental reason for it to be trading at these levels, so when the buying dries up, it will settle in at a reasonable spot, a lot of people going to lose.

Just it won't be the hedge fund, who settled. it will be the people who bought on the way up.
The White House is “monitoring” the situation  
glowrider : 1/27/2021 1:36 pm : link
Ridiculous
RE: The White House is “monitoring” the situation  
Producer : 1/27/2021 1:39 pm : link
In comment 15136002 glowrider said:
Quote:
Ridiculous


what's ridiculous about that? what are they supposed to say? "We don't know what you're talking about?" "We're interceding."

They said just the right thing.
RE: RE: The White House is “monitoring” the situation  
glowrider : 1/27/2021 1:50 pm : link
In comment 15136009 Producer said:
Quote:
In comment 15136002 glowrider said:


Quote:


Ridiculous



what's ridiculous about that? what are they supposed to say? "We don't know what you're talking about?" "We're interceding."

They said just the right thing.


Ridiculous that this has gone from Reddit to the WH. Not that they’re monitoring.

If they move to halt trading for a few days though, which is what the Mass regulator was pushing earlier, that would be outrageous.
RE: RE: RE: The White House is “monitoring” the situation  
Producer : 1/27/2021 1:54 pm : link
In comment 15136029 glowrider said:
Quote:
In comment 15136009 Producer said:


Quote:


In comment 15136002 glowrider said:


Quote:


Ridiculous



what's ridiculous about that? what are they supposed to say? "We don't know what you're talking about?" "We're interceding."

They said just the right thing.



Ridiculous that this has gone from Reddit to the WH. Not that they’re monitoring.

If they move to halt trading for a few days though, which is what the Mass regulator was pushing earlier, that would be outrageous.


well it's gone from an interesting financial story to front page everywhere. We're in a moment. We're all hearing about.
Halting trading is probably the worst thing they could do right now  
Knineteen : 1/27/2021 3:01 pm : link
People would be incredulous. It would be such a bad look.
Wait till you see the shenanigans they pull to get this stopped by Fri  
State Your Name : 1/27/2021 4:30 pm : link
As I understand it, COB Friday is liquidation armageddon for the shorts. The big money and all their friends in high places will do anything to stop that.
Yeah, Friday should be interesting  
Tyrion : 1/27/2021 4:34 pm : link
If you're in on GME, seems like the prevailing thought is to hold until Friday at a minimum just due to the number of shorts that are due then.
RE: Yeah, Friday should be interesting  
Tim in Capital City : 1/27/2021 6:24 pm : link
In comment 15136261 Tyrion said:
Quote:
If you're in on GME, seems like the prevailing thought is to hold until Friday at a minimum just due to the number of shorts that are due then.


What does that even mean? Are the people who are short GME not required to keep their margin accounts current on a regular basis? Seems like that’s a disaster from a custodial standpoint.
So the forum is now down  
mattlawson : 1/27/2021 6:54 pm : link
Discord server pulled. This is totally nuts
RE: So the forum is now down  
Bear vs Shark : 1/27/2021 6:56 pm : link
In comment 15136405 mattlawson said:
Quote:
Discord server pulled. This is totally nuts
On Reddit, set to private is different than being down. The moderators of the subreddit made that decision themselves -- it didn't crash or get taken down by "higher powers" so to speak
RE: RE: So the forum is now down  
montanagiant : 1/27/2021 7:05 pm : link
In comment 15136407 Bear vs Shark said:
Quote:
In comment 15136405 mattlawson said:


Quote:


Discord server pulled. This is totally nuts

On Reddit, set to private is different than being down. The moderators of the subreddit made that decision themselves -- it didn't crash or get taken down by "higher powers" so to speak

Discord claims it banned the sub:
Quote:
Here is Discord’s full statement:

The server has been on our Trust & Safety team’s radar for some time due to occasional content that violates our Community Guidelines, including hate speech, glorifying violence, and spreading misinformation. Over the past few months, we have issued multiple warnings to the server admin.

Today, we decided to remove the server and its owner from Discord for continuing to allow hateful and discriminatory content after repeated warnings.

To be clear, we did not ban this server due to financial fraud related to GameStop or other stocks. Discord welcomes a broad variety of personal finance discussions, from investment clubs and day traders to college students and professional financial advisors. We are monitoring this situation and in the event there are allegations of illegal activities, we will cooperate with authorities as appropriate.
Totally normal for their means of communication to be yanked out from  
glowrider : 1/27/2021 7:33 pm : link
Underneath them while the stocks drop AH. Completely unrelated to the events of the day.
Nuts  
widmerseyebrow : 1/27/2021 7:34 pm : link
I had no idea Discord monitored chats to that degree in the first place. I realize they're not private or encrypted or anything, but that's different than moderators patrolling your group chats.
reddit is back  
widmerseyebrow : 1/27/2021 7:44 pm : link
.
I think if today was crazy  
Nitro : 1/27/2021 7:51 pm : link
tomorrow will be 10x so.
I cannot believe  
Mark from Jersey : 1/27/2021 8:17 pm : link
they had to shut the subreddit down. The Discord server is down. They are being attacked by the wealthy elite for sure. I have work related restrictions which prevent me from participating in such madness but if I could I would buy in just to stick it to the short sellers...its ok when they smell blood and profit but not when other do? Fuck them.
I know i'm late here  
The Dude : 1/27/2021 8:57 pm : link
But Chamath absolutely destroyed that CNBC host today.

Guy was like what about the retail investor that's gonna end up losing here!!!!

Ummm..the same retail investor that is on the losing end of this the past 40 years?
RE: I know i'm late here  
Mark from Jersey : 1/27/2021 9:16 pm : link
In comment 15136489 The Dude said:
Quote:
But Chamath absolutely destroyed that CNBC host today.

Guy was like what about the retail investor that's gonna end up losing here!!!!

Ummm..the same retail investor that is on the losing end of this the past 40 years?
Chamath made 500k off of trades related to GME and is donating all of it to the Barstool sports charity.
Chamath Vs CNNC Host  
KWALL2 : 1/27/2021 9:50 pm : link
The host had nothing but “I’m worried about the retail investor who loses money”. LOL. Jackass

It’s going to be a crazy week. Not just GME.

The other highly shorted stocks kicked ass today.
Robinhood shut off the ability to purchase shares in GME  
montanagiant : 1/28/2021 3:27 pm : link
Which to me sounds like a horseshit move and someone is buying them off. You can sell your shares but you can no longer purchase any.

Some in Congress are demanding an investigation into this
RE: Robinhood shut off the ability to purchase shares in GME  
Zeke's Alibi : 1/28/2021 3:32 pm : link
In comment 15137259 montanagiant said:
Quote:
Which to me sounds like a horseshit move and someone is buying them off. You can sell your shares but you can no longer purchase any.

Some in Congress are demanding an investigation into this


There's another active thread on this, but they are now selling people's shares without their explicit consent.
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