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 )
squash the little guy
Elon's single tweet drove GME super high in AH today. Imagine if Dave Portnoy does a video about GameStop later on this week? If Barstool's large following throws all their degenerate gambling energy at this by week's end? It might actually have a chance at a 1K stock price.
What was the logic behind AMC?
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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?
High short interest.
@tanayj
The redditor who started the $GME saga DeepFuckingValue has turned his $50K position into >$22M
https://reddit.com/r/wallstreetbe
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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 )
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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
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 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?
Just my $0.02, could be completely wrong of course.
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.
The brokers have put restrictions on these stocks now, in addition to the halts.
God forbid retail traders get an edge.
Thanks in advance
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
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 )
That was so cringey and tone deaf by Wapner. Chamath took him behind the woodshed.
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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.
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.
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.
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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.
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In comment 15136002 glowrider said:
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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.
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.
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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:
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.