Gamestop Reddit short squeeze

A nearly bankrupt video game retailer causes the federal repo market to fail (yet again) thereby destroying the US economy.

Peak Clown world ACTIVATED!

Everyone on this board needs to fully understand the repo market and why it's failure in the fall of 2019 led to the unleashing of the fake killer flu.
I had been watching the GME ticker all afternoon. After CNBC reported that there was something wrong with the Fed's connection with major banks not long after that the GME ticker started to skyrocket. There had to be a connection. Cohen dropping the current CFO ready to replace him with another was not to occur until March as reported by the sycophantic CNBC network. So why all the rapid valuation of GME stock? Fedwire was down for that long? Hmmmmmm!!!!! :hmm:
 

eradicator

Peacock
Gold Member
So pretty much it’s an artificial temporary big bump?
It’s tough to say for sure. I sold a while ago but if I still help game I’d be tempted to sell at 160, it’s extremely volatile . The bid and ask prices are up around $160/share.
The people that held with diamond hands are apparently getting rewarded.

Tesla has been losing money for many years but achieved meme status and stayed up around 700... so who knows?
 
Might be a crazy week. Just remember 2 simple words: never sell.

After the revolution goes down, GME stock will be priceless memorabilia, like a piece of the Berlin wall. Best to hold & pass down to your heirs so they never forget what the little man can do.

iu
 
If yall want to play the GME hype but want lower risk then KOSS, EXPR, AMC, BB are the "meme cousins". They follow the same patterns but typically lag GME by a few minutes.

If you day trade its been pretty lucrative, for example:
1. Wait for a GME rally
2. Enter a position in one of the meme cousins, they typically follow seconds to minutes after.
3. Wait for GME rally to fade
4. Exit your meme cousin position as it fades seconds to minutes after

Treat GME as your leading indicator and play the lagging tickers. Not 100% effective, or guaranteed to continue, but it has been a good strategy the past month
 
This might become a household meme stock like tesla. I am expecting a lot of ups and downs. Eventually gamestop might actually bring some value if they buy the gambling website and expand still never ever should be at this price but doesnt matter. The days of careful analysis of revenue, debt and value investing seem to be long gone.

I sold due to the alien intervention in the stock so i am out but I had liquidated everything if you see my previous post i was anticipating a market downturn which didnt happen then but it happened now.

I am about to buy back at discount all of the tech stocks
 

budoslavic

Owl
Gold Member
Bank of England had a similar brief outage yesterday as well which got even less attention.
Interesting. Not many news outlet reported this.

Bank of England suffers system outage​

Bank of England temporarily suspends Clearing House Automated Payments System after glitch

The Bank of England is facing criticism after it was forced to temporarily suspend the Clearing House Automated Payments System (CHAPS) after a technical glitch.

The fault affected the Bank of England’s Real Time Gross Settlement System (RTGS) and prevented payments.

A statement from the Bank of England said: “The Bank of England has identified a technical issue related to some routine maintenance of the RTGS payment system.”

The RTGS is dedicated to processing significant payments. Eighty per cent of payments processed by CHAPS are domestic or cross-border wholesale payments.

Customers were unable to complete the purchase of properties on time, but the Bank of England and CHAPS extended opening hours to process missed payments, and important payments were processed manually throughout the day.

All payments from the day of the outage were settled during the extended opening hours.

A representative from CHAPS said: “By the end of the day, CHAPS processed just under 143,000 payments, which is in line with daily volumes.”

The Bank of England is facing criticism and government pressure due to lack of transparency. In response, the governor of the Bank of England, Mark Carney, has launched an independent investigation into the issue, which will be presented to court and published.

 

C-Note

Ostrich
Gold Member
Looks like the Wall Street insiders are pushing the SEC to mandate that the NYSE and NASDAQ can no longer list stocks with a value of less than $5 a share. They know that many of the discount brokers like RobinHood won't allow trading in most stocks that aren't offered through a major exchange.

 
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Redditors think they winning a war against hedge funds. Fact is, retail investors are a drop in the bucket compared to the hedge funds on both the short and long side, but retail can still drive prices in the short term -- GME is low float and WSB has 7 million new members tho most of them are morons with 3 shares at $300.

What's interesting is that the board hasn't cashed in on the prices. Seems to confirm the theories that Ryan Cohen is trying to shake things up in some strange vendetta against Pets dot com or whatever.

Fascinating how GME does well when the whole market is shaking.

I wonder what the bears are saying.
 

C-Note

Ostrich
Gold Member
Redditors think they winning a war against hedge funds. Fact is, retail investors are a drop in the bucket compared to the hedge funds on both the short and long side, but retail can still drive prices in the short term -- GME is low float and WSB has 7 million new members tho most of them are morons with 3 shares at $300.

What's interesting is that the board hasn't cashed in on the prices. Seems to confirm the theories that Ryan Cohen is trying to shake things up in some strange vendetta against Pets dot com or whatever.

Fascinating how GME does well when the whole market is shaking.

I wonder what the bears are saying.
It's interesting that the share price of GME has been steadily increasing over the past week and is now above $100 again. Looks to me like the squeeze is continuing, in spite of the Street Establishment's efforts to be studiously indifferent to it. I'm still holding my one share.
 

Castelnau

Kingfisher
All those Apes who thought Democrat politicians were on their side.

The wild volatility in GameStop Corp. shares this year has emboldened Democrats who support a tax on stock trades.

A financial-transaction tax, or FTT, would raise money by collecting a fraction of the value of securities trades. Proponents say such a tax could help fund programs like President Biden’s $2 trillion infrastructure plan, while reining in high-frequency trading and excessive speculation. Critics, including Wall Street lobbying groups, say it is a flawed policy that would hurt investors.
Mr. Weiss’s plan calls for a 0.1% tax on stock, bond and derivative trades that would be phased in over a multiyear period. Such a tax could raise $60 billion a year, he estimates. Some lobbyists and tax-policy advisers see his plan as a basis for a bill that could win over Democratic moderates.

Lately, the FTT issue has gained fresh visibility from an unlikely source: GameStop. After the furious rally and subsequent crash of the videogame retailer’s stock in January, politicians and pundits have stepped up scrutiny of high-speed trading and questioned whether the stock market is fair to small investors. Some progressives have seized the opportunity to promote an FTT.

“One way to ensure that this enormous wealth generated on Wall Street actually reaches the real economy...is to enact and look at proposals like a financial transaction tax,” Rep. Rashida Tlaib (D., Mich.) said at a hearing of the House Financial Services Committee last month devoted to the GameStop episode.
In June, Vanguard Group released an analysis of how various types of transaction taxes would affect an investor putting away $10,000 annually for 40 years. For a portfolio with a mix of stock and bond index funds, Vanguard estimated that a 0.1% tax on purchases would ultimately cost the investor $25,705—or between 2% and 3% of his or her savings, which under Vanguard’s assumptions would grow to $1.2 million at the end of 40 years.


(behind paywall)
 
The kvetching machines are firing up, I think the squeeze has been squoze but I'll be able to recover some money thanks to Elon musk memeing the stock market, after that I am going to pull out, when everyone has their stimulus check and throws it in GME I'm ripping out of there and the other meme stocks.
 
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