Gamestop, Wall Street and Reddit.

[AllexxisF1]

Y'all seeing this ****?


Hedge Funds used the telephone to lie and con regular people to buy stocks so they could manipulate markets.

Now, the regular Joe figured out they can do the same thing with Discord, Reddit and a meme and be a billion times more effective.

Short-selling needs to be abolished.

[KAC]

People making a killing. I was thinking about experimenting but when market dropped I was already late.

[GTwannabe]

[Lazy8s]

https://news.google.com/articles/CAI...S&ceid=US%3Aen

Amid GameStop's explosive rally, short sellers have accumulated losses of more than $5 billion year to date in the stock, including a loss of $917 million on Monday and $1.6 billion on Friday, according to data from S3 Partners.

That's a lot of money

[KAC]

Well someone is making a ton of money and it’s not me.

[AllexxisF1]

Rumor is AMC Theaters is next and the stock is up 100% selling at $14. I might be tempted here.

[KAC]

Rumor is AMC Theaters is next and the stock is up 100% selling at $14. I might be tempted here.

How much you buying?

[AllexxisF1]

Not much. Just a grand to mess around. Still debating.

[Elysian]

It's always refreshing when people realize we have power when we band together.

[KAC]

So now we are 3 then?

[AllexxisF1]

Picked up 43 shares of Nokia for fun. Let's see how that pans out by tomorrow. The Wall Street Bets subreddit is a hoot.

[Jay20016]

Got into AMC last night at about $10. Got into Gamestop at $150 last night.

As they're saying on Reddit, diamond hands.

[Nascar24]

Sell Sell Sell Sell! This looks like a chit show. Gamestop is worth about a buck and a half!

[Jkmetal23]

I think I'd care if I had a time machine and went back about three weeks. I also don't have any 'play around' money so to speak.


As of now, **** is gonna burst hard lol. Like how much of a viable business does gamestop have left????

[Jay20016]

I think I'd care if I had a time machine and went back about three weeks. I also don't have any 'play around' money so to speak.


As of now, **** is gonna burst hard lol. Like how much of a viable business does gamestop have left????

The big thing though is it isn't about GameStop at all. They just simply are the stock that the Wall Street vultures decided to descend upon to kill. They were already on the ropes before COVID hit, and then boom, afterwards, we all knew they weren't long for the world in their current form. That Microsoft partnered with them was a huge head scratcher to me simply because I don't see it being around for much longer.... but, the reason the stock is seeing such a surge is because Wall Street had shorted the stock to a tune of 140%. Meaning that there were 40% more short options on the stock than actual shares available. Some on reddit noticed this and basically said, lets squeeze them.

The short position these hedge funds had, the largest of which I guess, was Melvin Capitol is basically saying that they're going to owe you X number of stocks at a certain date hoping that the price drops so that they get to pocket the difference. With there being more options than stock available, these hedge funds are in a bind. They have to purchase the stock to fulfil their end of the deal, they're just now doing it at astronomically higher stock prices, which means they're losing billions. Monday was $900 million, and Tuesday was like $1.5 billion, not sure about today considering the stock doubled again. (Closed at like $150 Tuesday, Closed at $347 today) The more people who hold, the higher the stock goes. The more they buy to close their short positions, the higher the stock goes.

The reason that so many from Wall Street and their corporate media are up in arms about this and threatening to seek action is because their modus operandi for making money is fine and all, except when it is used against them.

They're all talking about the fundamentals don't match the stock price, but.... that hasn't stopped them from that in the past when it benefited them, so why are they angry now? Oh, right, they're the suckers holding the bag....

This [yt]2h7jfNpL4QA[/yt] is a pretty interesting interview on what's happening now and why it is hypocritical for all of these calls for action and freezing of trades with regards to these because the people who have these positions did so willingly. Reddit didn't trick them into it, they just called them on them.

The entire thing is like the 2008 crash in that this sort of 5x, 10x, or more leverage that the hedge funds are allowed to do is fine when they're making money, but when it bites them in the ass and threatens the system, they want protection. They got bailed out in 2008 and looks like they're going to get help to not face a chopping block now.... If the online peeps hadn't intervened, they'd have done what Wall Street has done to many stocks in the past, hammer it down to nothing to kill a company for profits on its corpse; but, god forbid the leopard eats their face.

[Jankan]

I see they closed the subreddit forum now and some investment firms are putting restrictions on buying shares. Of course it has to be regulated when they lose money

[Quickstrike]

I see they closed the subreddit forum now and some investment firms are putting restrictions on buying shares. Of course it has to be regulated when they lose money

FYI

1) Reddit did not shut down r/wallstreetbets

2) The mods shut it down bc they were overwhelmed

3) It’s now back, for now at least

https://twitter.com/wsbmod

[Trunks0]

The big thing though is it isn't about GameStop at all. They just simply are the stock that the Wall Street vultures decided to descend upon to kill. They were already on the ropes before COVID hit, and then boom, afterwards, we all knew they weren't long for the world in their current form. That Microsoft partnered with them was a huge head scratcher to me simply because I don't see it being around for much longer.... but, the reason the stock is seeing such a surge is because Wall Street had shorted the stock to a tune of 140%. Meaning that there were 40% more short options on the stock than actual shares available. Some on reddit noticed this and basically said, lets squeeze them.

The short position these hedge funds had, the largest of which I guess, was Melvin Capitol is basically saying that they're going to owe you X number of stocks at a certain date hoping that the price drops so that they get to pocket the difference. With there being more options than stock available, these hedge funds are in a bind. They have to purchase the stock to fulfil their end of the deal, they're just now doing it at astronomically higher stock prices, which means they're losing billions. Monday was $900 million, and Tuesday was like $1.5 billion, not sure about today considering the stock doubled again. (Closed at like $150 Tuesday, Closed at $347 today) The more people who hold, the higher the stock goes. The more they buy to close their short positions, the higher the stock goes.

The reason that so many from Wall Street and their corporate media are up in arms about this and threatening to seek action is because their modus operandi for making money is fine and all, except when it is used against them.

They're all talking about the fundamentals don't match the stock price, but.... that hasn't stopped them from that in the past when it benefited them, so why are they angry now? Oh, right, they're the suckers holding the bag....

This [yt]2h7jfNpL4QA[/yt] is a pretty interesting interview on what's happening now and why it is hypocritical for all of these calls for action and freezing of trades with regards to these because the people who have these positions did so willingly. Reddit didn't trick them into it, they just called them on them.

The entire thing is like the 2008 crash in that this sort of 5x, 10x, or more leverage that the hedge funds are allowed to do is fine when they're making money, but when it bites them in the ass and threatens the system, they want protection. They got bailed out in 2008 and looks like they're going to get help to not face a chopping block now.... If the online peeps hadn't intervened, they'd have done what Wall Street has done to many stocks in the past, hammer it down to nothing to kill a company for profits on its corpse; but, god forbid the leopard eats their face.

Yup! and they can kiss our collective asses. I just hope this trend continues of calling out BS shorts like this.

[Jay20016]

Yup! and they can kiss our collective asses. I just hope this trend continues of calling out BS shorts like this.

Today alone was a $15 billion loss on those holding shorts. They're afraid of the dominos falling like 2008... but, only once it's to late.

[KAC]

Didn’t buy. Decided to not play this game even with a 1000 bucks.

[Shapeshifter]

[yt]9zvIOAE85Zs[/yt]

[mizzer]

This is interesting. And serious.

[Greasy]

I'm not playing games like this with my money. At least not more than a $1000 bucks. I love to see it though. **** shorts! That **** shouldn't be legal.

[Shapeshifter]

[Jkmetal23]

The big thing though is it isn't about GameStop at all. They just simply are the stock that the Wall Street vultures decided to descend upon to kill. They were already on the ropes before COVID hit, and then boom, afterwards, we all knew they weren't long for the world in their current form. That Microsoft partnered with them was a huge head scratcher to me simply because I don't see it being around for much longer.... but, the reason the stock is seeing such a surge is because Wall Street had shorted the stock to a tune of 140%. Meaning that there were 40% more short options on the stock than actual shares available. Some on reddit noticed this and basically said, lets squeeze them.

The short position these hedge funds had, the largest of which I guess, was Melvin Capitol is basically saying that they're going to owe you X number of stocks at a certain date hoping that the price drops so that they get to pocket the difference. With there being more options than stock available, these hedge funds are in a bind. They have to purchase the stock to fulfil their end of the deal, they're just now doing it at astronomically higher stock prices, which means they're losing billions. Monday was $900 million, and Tuesday was like $1.5 billion, not sure about today considering the stock doubled again. (Closed at like $150 Tuesday, Closed at $347 today) The more people who hold, the higher the stock goes. The more they buy to close their short positions, the higher the stock goes.

The reason that so many from Wall Street and their corporate media are up in arms about this and threatening to seek action is because their modus operandi for making money is fine and all, except when it is used against them.

They're all talking about the fundamentals don't match the stock price, but.... that hasn't stopped them from that in the past when it benefited them, so why are they angry now? Oh, right, they're the suckers holding the bag....

This [yt]2h7jfNpL4QA[/yt] is a pretty interesting interview on what's happening now and why it is hypocritical for all of these calls for action and freezing of trades with regards to these because the people who have these positions did so willingly. Reddit didn't trick them into it, they just called them on them.

The entire thing is like the 2008 crash in that this sort of 5x, 10x, or more leverage that the hedge funds are allowed to do is fine when they're making money, but when it bites them in the ass and threatens the system, they want protection. They got bailed out in 2008 and looks like they're going to get help to not face a chopping block now.... If the online peeps hadn't intervened, they'd have done what Wall Street has done to many stocks in the past, hammer it down to nothing to kill a company for profits on its corpse; but, god forbid the leopard eats their face.

There is a lot going on huh. As convoluted as market manipulations are to a lay person like me, I think I got most of that.



Without going into P&R, I'm going to see how this unfolds.

[Elysian]

I'm really glad I didn't have coffee in my mouth when I read this I let out a very loud audible chuckle on that last frame

I put in just enough money that it wouldn't hurt if I lost it all yesterday, and I'm up roughly 50% already.

[AllexxisF1]

Yeah, this fun exercise with my Nokia shares will end today. I'll wait for the price to jump up in the morning and sell.

This whole fiasco though is so sweet on so many levels.

One, the greedy hedge fund assholes got what they have coming.

Two, it shows everyone how short-selling and Wall Street in general is just one big freaking casino.

Three, it made clear that when the fat cats start losing money at their own game, they're happy to use CNBC to manipulate a stock price.

Four, the internet and collective collaboration is a more powerful tool than the telephone. The tool that Hedge Fund assholes used for decades to convince regular people to buy a hot stock and manipulate the market.

Wall Street should just be people investing in stocks because they believe in a company. None of this short-selling, options, non-sense.

[Elysian]

Yeah, this fun exercise with my Nokia shares will end today. I'll wait for the price to jump up in the morning and sell.

This whole fiasco though is so sweet on so many levels.

One, the greedy hedge fund assholes got what they have coming.

Two, it shows everyone how short-selling and Wall Street in general is just one big freaking casino.

Three, it made clear that when the fat cats start losing money at their own game, they're happy to use CNBC to manipulate a stock price.

Four, the internet and collective collaboration is a more powerful tool than the telephone. The tool that Hedge Fund assholes used for decades to convince regular people to buy a hot stock and manipulate the market.

Wall Street should just be people investing in stocks because they believe in a company. None of this short-selling, options, non-sense.

Yeah, Nokia doesn't seem to be getting any traction. Naked on the other hand, I've already doubled on them.

[Jay20016]

They're limiting the ability for retail traders to buy into these things on certain platforms "out of risk managment" for the users...

[AllexxisF1]

That is some next-level bullshit right there. Stopping people from buying certain stocks is straight up manipulation and helps those wanting to short the stock.

Robinhood should be catapulted to the Sun for this stunt.

[Jay20016]

That is some next-level bullshit right there. Stopping people from buying certain stocks is straight up manipulation and helps those wanting to short the stock.

Robinhood should be catapulted to the Sun for this stunt.

Yup. They've figured out a way to protect themselves

[Jkmetal23]

That is some next-level bullshit right there. Stopping people from buying certain stocks is straight up manipulation and helps those wanting to short the stock.

Robinhood should be catapulted to the Sun for this stunt.

The little guys are ****ing with the money.


Things will be done to prevent this from being successful.

[Jay20016]

The little guys are ****ing with the money.


Things will be done to prevent this from being successful.

That is the funny part. If a rival hedgefund did this to the people that were so nakedly exposed, they'd have been lauded with heaps of praise for their cunning. Bunch of random people with small stakes in it though? "We need some type of regulation!!!!" There are legit financial experts out there talking about how we might need to rethink the ability of the average man to play in the stock market, like, wtf?!

[Jkmetal23]

That is the funny part. If a rival hedgefund did this to the people that were so nakedly exposed, they'd have been lauded with heaps of praise for their cunning. Bunch of random people with small stakes in it though? "We need some type of regulation!!!!" There are legit financial experts out there talking about how we might need to rethink the ability of the average man to play in the stock market, like, wtf?!

Know your betters has always been a part of human societies and if anything its rude health is covered by a coat of 'classless society' prop. 'Anyone' can make it....

[KAC]

Well glad I didn’t jump the AMC train yesterday.
Sad I didn’t jump the GME train yesterday.

[Elysian]

Well glad I didn’t jump the AMC train yesterday.
Sad I didn’t jump the GME train yesterday.

Now might be the time, the manipulation can't continue forever.

[AllexxisF1]

This is some serious ****. Most of the brokerages are not allowing the purchase of shares from GME, AMC and NOK. But the Wall Street firms still have their access.

This is straight up handicapping the squeeze put on by regular folks. How in the world is this even remotely legal?

I don't care if I lose my $300 bucs, as it is a pretty entertaining and learning exercise.

****, I can't even imagine what is going on with Nokia executives today. They must be like, WTF, no one can buy our stock!

[Elysian]

This is some serious ****. Most of the brokerages are not allowing the purchase of shares from GME, AMC and NOK. But the Wall Street firms still have their access.

This is straight up handicapping the squeeze put on by regular folks. How in the world is this even remotely legal?

I don't care if I lose my $300 bucs, as it is a pretty entertaining and learning exercise.

****, I can't even imagine what is going on with Nokia executives today. They must be like, WTF, no one can buy our stock!

I put in $750, about $575 of it into Gamestop, the rest in Naked and Nokia. Nokia probably not gonna do anything. I would have bought low this morning on Gamestop if they had allowed me, bump up to $1k invested, but this blatant corruption has really screwed me.

[AllexxisF1]

If the internet and phone never existed, what they are pulling right now, would be closing the doors to the exchange and leaving everyday people locked outside.

Just so the Wall Street Hedge Funds can survive their short-selling bets, not go under and sink the little guy locked outside.

My brothers own their own financial firm, and they're like, this is the most gross thing they have ever witnessed.

This is corruption. Just bald-faced corruption.

[Nascar24]

There she blows! what a chit show! Gamestop falling like a Boulder!