Gamestop Reddit short squeeze

typtre

Robin
So no stock options huh. Question is if we should give up here, or try to find another method. Without strong communities like those you find at Church, the next rebellion is doomed to fail. Maybe starting a website where you have to doxx yourself and prove your dedicated to the cause snd can be punished for betrayal. Nah we need an organisation. Any ideas, this is gonna be hard, they'll fight us hard than they did occupy wallstreet. So it won't be easy.

No options.
No ideas. I think Andrew Torba of Gab called for a mass exodus from the meme market. Purchase hard assets and abandon the rigged ship. Excellent idea, in my opinion. But as effective as calling for world peace, a fair election, or to only buy GME with money you can lose.

My favorite part was when they shut off the buying. Never expected that. Apparently it functioned as intended, a result of illiquidity and not illegal at all, and I'm looking forward to learning more about it. Surely there's an ethical journalist out there who will dumb it down for us plebians in the coming months, with some historical context -- the problem will be discerning the few legitimate takes from the sea of fantasies playing into people's righteous indignations.
Right! That was a big one that came from out of nowhere that really put us plebs back in our place again.
I think by the time you have discerned what is factual from that one ethical well-informed altruistic good intention way to hell paving journalist, they will have already put new regulations in place.
But then we can play the game again and find out how the new rules work (against us)! Exciting.
 

aynrus

Kingfisher
I'm shocked that anyone was surprised that trading was restricted. It was clear right away that there'd be restrictions slammed (and possibly long-term restrictions are to come yet).
People have too much faith in the gubimint and the system.
These're a bunch of hardcore crooks who're running the show and they're anything but stupid, they got more tricks up their sleeve than Joe can think of.
(ever woke up in the morning to learn that all bank accounts are frozen and you can't withdraw anything but tiny amount, while monetary reform devaluing your currency went into effect overnight without warning? That's how they do it sometimes, they can go to much longer length than temporary stock buying restricitons and can confiscate assets)
Can't bring a baseball bat to a gun fight. It's like people for some reason think that government, brokers, etc are their caring friends - they're the opposite. Once you realize they're your enemies you can immediately see that they'd go to any length and take any measures, legal or illegal (they can legitimize it later) to protect their real friends (big business interests)
It's like people in another pump thread (cough) are talking about certain ETF, how pristine and safe it is....didn't they read the prospectus that says in plain text that due to "covid" they're absolved from any non-performance of their duties? Duh!
 

Coja Petrus Uscan

Hummingbird
Gold Member
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eradicator

Peacock
Gold Member
Best comment is that GameStop will give him $3.50 in trade credit for the car

There are plenty of stocks I bought that are doing well this year but I took a bath on gme and amc

Cruise stocks like carnival and Norwegian cruise lines are looking up and arguably a safe buy. Before covid they were trading at 60 to 70/share and as recent as November were 10 to 12/share and gone back up to 25 to 28/share.
If they go back up to their pre covid price then that right there would pay off my mortgage.

I regret not buying any Disney in November but cest la vie.

This is not advice and I’m not a financial advisor
 
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eradicator

Peacock
Gold Member

There are plenty of stocks I bought that are doing well this year but I took a bath on gme abd amc

Cruise stocks like carnival and Norwegian cruise lines are looking up and arguably a safe buy. Before covid they were trading at 60 to 70/share and as recent as November were 20 to 12/share and gone back up to 25 to 28/share.
If they go back up to their pre covid price then that right there would pay off my mortgage.
I regret not buying any Disney in November but cest la vie
 
Just remember that its not as easy as expecting them to go back to pre-covid prices.all of them have had a lot of dilution and sold off key assets in order to avoid going bankrupt. More shares + less assets = not necessarily gonna hit pre-covid price per share for a while.

Thats only if the market goes by fundamentals though. Their could be a rush into the travel stocks elevating them above what could be considered a fair book value.
 

CynicalContrarian

Owl
Gold Member
GME rose. Now Reddit & Robinhood froze...


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Hypno

Crow
Anyone know why it skyrocketed today?

Not complaining thats for sure!

Someone or someones bought a ton of out of the money options. Because of the way market makers (who wrote or sold the options) hedge their risk, it forces them to buy the stock now, which they are fine with because they just got paid to sell the option. This is called a gamma squeeze. Not a party to these transactions are the shorts, who get crushed, and the longs, who get a windfall.
 

budoslavic

Owl
Gold Member
Via ZeroHedge
Update (1749 ET): As of this update, Reddit is back online, and so is WSB.

2021-02-24_17-48-32.png


Update (1637 ET): As of this update, Reddit is still down...

2021-02-24_16-37-22.png

Isn't it odd that Reddit went down as GME went up?

Downdetector reports Reddit users are experiencing issues or outages across the country on Wednesday afternoon.



There is no definitive link between the Gamestop-led short squeeze, and the stock zooming up over 100% in minutes and everyone checking the r/WallStreetBets board on Reddit, but certainly, it's a coincidence.
GME%20ramp_0.jpg


Reddit outages developed around the time GME shares exploded higher.

2021-02-24_16-05-43.png


Outages are seen from coast to coast.

2021-02-24_16-05-54.png


Across the country, internet search trends for "GME" are exploding into late afternoon.

2021-02-24_16-16-08.png
 

budoslavic

Owl
Gold Member
Memeberg Terminal for reddit
According to the site:
The Memeberg Terminal analyzes data from stock based subreddits to display trending stocks. Inspired by the GME short squeeze of 2021.
Disclaimer: This website is not financial advice and we do not guarantee the accuracy of any information, use at your own risk.


 
Anybody have any predictions on the peak? I'll sell my sole share at $600 and write off the victory as a story to tell my future kids. I think the more delusional retail sellers will know by now selling at 10K isn't doable haha.
 
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