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The Battle of GameStop

paranoidenough.com

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Re: The Battle of GameStop

#11

Post by trap_chateau »

throwaway0a5e wrote: post #2

They're not winning. They're just minting a different set of losers and pushing the drawing out by a couple weeks. And Reddit being Reddit you can never really be sure whether organic interest is pumping the stock or if they are being manipulated by an astroturfing campaign. If day trading weren't a conflict of interest for me I'd be looking into doing something like that (and consequently not blabbing about it on HN…

I think I'm convinced of manipulation. The memeing and the gameifying investment, calling each other retards (because you, user, you don't know _anything_) and the long obscure unfalsifiable ramblings about predictions or valuable investments hitting the top of the page, it all just seems a little fishy to me.

Re: The Battle of GameStop

#12

Post by JohnJamesRambo »

vga805 wrote: post #5
throwaway0a5e wrote: post #2

They're not winning. They're just minting a different set of losers and pushing the drawing out by a couple weeks. And Reddit being Reddit you can never really be sure whether organic interest is pumping the stock or if they are being manipulated by an astroturfing campaign. If day trading weren't a conflict of interest for me I'd be looking into doing something like that (and consequently not blabbing about it on HN…

the bull thesis has been laid out in detail for months and it's a good one, this is organic interest, Ryan Cohen and others coming over from Chewy was the most recent catalyst

Come on, that is what you’ve been trained to say. I heard the exact same phrases from my younger brother.

Re: The Battle of GameStop

#14

Post by gruez »

dvt wrote: post #6

> The same emotion that caused us to root for the thieves in Ocean’s 11 is what makes Wall Street Bets so enticing. Put frankly, Millennials are tired of getting fucked by the man. When you’re underemployed with $100,000 in student loan debt, your financial situation feels overwhelming. You really don’t want to take the advice of your parents or CNBC talking heads [5] to invest 10% of your salary for a 4% annual retu…

>It's a never-ending shit-show. At least some of us are getting rich in /r/wallstreetbets.

This is sad because most of what you've said can be applied to lotteries as well, which historically has been criticized as being a "tax" on the poor. The end result is the same: people putting themselves in a worse place financially (on average), just so they can cope with their bleak existence.

Re: The Battle of GameStop

#15

Post by IIAOPSW »

I've wrote this elsewhere. The thing that's clicked for me after reading the comments on wsb is that populism, amplified by the modern internet, is going to radically change the finance world in a similar way to how it radically changed our political landscape. These people aren't just investing in GME to enrich themselves. They are doing it to spite the people who they percieve as rigging the game. They are doing it to poke in the eye of "mainstream media talking heads" whom they view as part of the controlled narrative of oligarchs. Does any of this sound familiar?

This is a once in a life time black swan. No one is factoring in populism in their investment thesis yet. Whoever can figure out populism well enough to predict it first stands to gain a lot of money.

Re: The Battle of GameStop

#17

Post by shouldiquitamzn »

I’ve made millions on WSB options plays. I can finally quit my job and stop being a cubicle slave. The visceral reaction from the media on this is disgusting. Major hedge funds got caught on the wrong side of this, and have been making a huge stink about it. CNBC to the rescue, demonizing young middle class Reddit investors. This whole thing has opened my eyes to how even my FAANG compensation is peasant money, it’s too little even as someone in the top few percent of incomes. Capital > labor

Re: The Battle of GameStop

#18

Post by dannyw »

throwaway0a5e wrote: post #2

They're not winning. They're just minting a different set of losers and pushing the drawing out by a couple weeks. And Reddit being Reddit you can never really be sure whether organic interest is pumping the stock or if they are being manipulated by an astroturfing campaign. If day trading weren't a conflict of interest for me I'd be looking into doing something like that (and consequently not blabbing about it on HN…

Melvin capital has been forced to take multiple capital injections and bail outs, to avoid being margin called. Short sellers have mark to market losses of over $6 billion, and should the momentum continue, they will be forced to sell at the worst times (infinity short squeeze).

Wall St are looking like they will be the losers.

Re: The Battle of GameStop

#19

Post by marklubi »

They might be being rude... But are they winning?

Probably.

The banks and hedge funds are playing the same games they've been playing for years and years.

Someone new has entered the picture and changed the game.

Re: The Battle of GameStop

#20

Post by paxys »

ffggvv wrote: post #13
paxys wrote: post #8

"Winning" because they collectively own millions of dollars of a worthless stock?

its okay they'll try to sell before it crashes and leave some other chump holding the bag. "taking on wall street"

Those chumps will likely be other WSB members
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