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The Battle of GameStop

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Re: The Battle of GameStop

#221

Post by dingaling »

shouldiquitamzn wrote: post #17

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…

> demonizing young middle class Reddit investors

They're not investors. Their money doesn't help the company.

Re: The Battle of GameStop

#222

Post by mrec »

MaximumYComb wrote: post #164
8note wrote: post #122

Earlier quoted context omitted.

I skipped classes and did a mechanical engineering degree and also a CSC degree. Do I count? Daily lattes are great. They're just coffee and milk. The people who aren't doing well aren't the ones who didn't drink, lived at home and did math degrees as far as I can tell

Why are people who did math degrees not doing well? Math degrees open all sorts of doors, at least once you get a bit of post grad education.

I think you missed the double negative.

Re: The Battle of GameStop

#223

Post by PartiallyTyped »

trap_chateau wrote: post #11
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.

What are the odds that the reddit proletariat is manipulating the market and not the frat boys making millions and dictating the narrative?

Re: The Battle of GameStop

#224

Post by ollifi »

gruez wrote: post #14
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.

/r/wsb is kind of insanity, but I’ve come to think that maybe young person can YOLO a bit against the odds somewhere in life. If something returns poorly on average, but has high payouts at the top it might just work out. Your life won’t be the average case but single sample.

Lottery is too improbable but some other things ”no rational person would do” can be ok. Main thing is to get over with it soon and protect the downside.

Of course if you get lucky you need to be contempt with the nice head start and switch strategy to doing the boring rational things. Not sure if these qualities are often found in one person.

Re: The Battle of GameStop

#225

Post by L-four »

dingaling wrote: post #221
shouldiquitamzn wrote: post #17

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…

> demonizing young middle class Reddit investors They're not investors. Their money doesn't help the company.

Yes it does, the company can do a stock split and sell more shares.

Re: The Battle of GameStop

#226

Post by PartiallyTyped »

jeffbee wrote: post #123
pmorici wrote: post #29

Earlier quoted context omitted.

They essentially drove one of wall streets very successful hedge funds of recent years to near failure they had to make a deal for an emergency investment today to stay afloat. I’d call that winning.

They will probably use the infusion of money to just ride out this raid and make a mint when the wsb bubble pops, which it inevitably will. To say that the hedge fund is "near failure" is the same as saying they did not fail. If they bridge this gap they win double.

They need to buy the stock back and pay interest. They shorted the stock at say 20, or 30. Now they will have to buy it back at 90 and pay interest on it.

They have repeatedly resorted to market manipulation to drive the price down and cut their losses, but people are not selling, there do not exist enough shares for them to close their position. They screwed up royally, they doubled down, from 128% shorted stock to 140% shorted stock, then they resorted to blatant market manipulation, using the media and painting a false narrative.

Re: The Battle of GameStop

#227

Post by kelnos »

dingaling wrote: post #221
shouldiquitamzn wrote: post #17

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…

> demonizing young middle class Reddit investors They're not investors. Their money doesn't help the company.

Not directly. But driving up a company's market cap can make its stock more attractive to a potential acquisition target. Or it can simply sell shares of itself at the new, higher price.

Re: The Battle of GameStop

#228

Post by dmurray »

dingaling wrote: post #221
shouldiquitamzn wrote: post #17

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…

> demonizing young middle class Reddit investors They're not investors. Their money doesn't help the company.

At least in this case, GameStop has filed to raise up to $100,000,000 through an ATM offering (selling shares to the public) [0]. So yes, the recent activity does help the company, in so far as GME is a company that can be helped by getting its hands on more cash.

[0] https://www.sec.gov/Archives/edgar/data/1326380/000119312520...

Re: The Battle of GameStop

#229

Post by Miner49er »

tinyhouse wrote: post #104

Today I noticed that Bad Bath and Beyond rallied 40% in the morning with no major news. It closed only +1.5%. I was wondering what's going on. I think that's one warning sign not to invest in companies that often flactuate greatly with no major news. It often happens with small companies so it's good to stay away from such companies. But BB&B seem to have a market cap of a few billions so it's not expected.

A lot of of heavily shorted stocks are up a ton recently. BBBY, GME, DDS, FIZZ, TR.

Re: The Battle of GameStop

#230

Post by tom-_- »

shouldiquitamzn wrote: post #34
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…

They are winning. That’s what people don’t get. This whole dumb money never wins mantra is what’s driving WSB. It’s a bucking of that false narrative. People working on Wall Street aren’t gods, but it’s their job to convince you they are

There is no "they".

WSB is a public subreddit. Traders, pms, hedge fund guys all participate and win often bigger because they have more to play with. They pump and dump and ride the emoji rockets like everyone else.

There are only the winners, which include the $60k/yr nurse, the $600k/yr FAANG principal, and the $6M/yr Senior PM who timed their call options right.

And the losers which include the same but timed it wrong.

The engineers and finance folks who lost will have a bad week. The lower-middle income earners will have a bad year.

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