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The Battle of GameStop

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Re: The Battle of GameStop

#241

Post by thysultan »

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.

Maybe cause $BB&B is close to $BB, either the bots are mistaking it for $BB or the WSB "retards" are. Either way there's a bit of a "rocketship emoji" drive for $BB on WSB.

Re: The Battle of GameStop

#242

Post by blackrock »

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 even worse than this. The government feigns that they can’t do anything. And that everything is the result of the market. Meanwhile, they easily pass bills to increase their own pay, or find magic money to pay for their military wars.

And then, after screwing up the 2008 crisis, they stopped building homes. And the homes that were foreclosed on, they allowed the rich corporations to buy them up for pennies on the dollar.

You call this a real estate market? It’s a god damned scam!

So what does that leave us with? Millennials that have a lot of student loans, low pay for decades, and now, they can’t even buy a home.

How wonderful it is that a dilapidated entry level home is now $700,000. Good luck paying for that, when you couldn’t even afford to pay for a $500,000 home.

Families are delayed. Marriages are delayed. Kids? Good luck even affording to pay for a family, with your $800,000+ mortgage.

Thanks America. You f*cked us. But sure, your rich buddies are even richer.

Re: The Battle of GameStop

#243

Post by ZephyrBlu »

thefreeman wrote: post #61
oceanplexian wrote: post #25

Earlier quoted context omitted.

Is Melvin Capital winning with their short position? When they’re contractually obligated to repurchase millions of shares and there are no shares left to purchase, what do you think is going to happen? There are winners and losers, but in this case the loser could very well be an investment firm with 12B in assets. Some wealthy investors are about to have that wealth redistributed. I think that’s the point.

"no shares left to purchase". what?? 160 million shares changed hands today. there will never be no shares left to purchase.

They shorted more GME shares than the amount that currently exist. That's what "no shares left to purchase" is referring to.

Re: The Battle of GameStop

#244

Post by [deleted] »

flakeandgray wrote: post #162
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…

Congratulations to you! Can I ask where/how did you learn to do what you did? Did you first learn general stock market investing or did you skip straight to options? Any advice and/or resources would be much appreciated. Thanks!

[deleted]

Re: The Battle of GameStop

#245

Post by viraptor »

dmurray wrote: post #228
dingaling wrote: post #221

Earlier quoted context omitted.

> 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...

Did that go through? Releasing new overpriced shares while the price is being obviously raising unrelated to the company performance sounds super dodgy.

Re: The Battle of GameStop

#246

Post by blackrock »

PartiallyTyped wrote: post #213
in3d wrote: post #56

Earlier quoted context omitted.

Getting rich through a greater fool theory and creating a bubble in a small stock is not something I’d be proud of. You’re sticking it to the least knowledge Johnny-come-latelies who will be left holding the bag. Thinking that you’re screwing Goldman Sachs is delusional.

Melvin Capital lost Billions last week alone. They needed to get bailed. You have been sold the narrative by the same people who screwed you in 2008. The bubble is the consequence of Hedge Funds getting greedy and repeatedly screwing a "dead company", by overshorting the shares. Don't take my word for it, take Louis Rossmann's, somebody known to stand for the little guy. https://www.youtube.com/watch?v=4EUbJcGoYQ4

I wonder if there is a systemic risk behind this.

Kind of like, if one domino falls, then the rest will tumble.

Re: The Battle of GameStop

#247

Post by thysultan »

ffggvv wrote: post #140
Spivak wrote: post #69

Earlier quoted context omitted.

I mean of course it doesn’t stay high once the shorts are covered. But everyone who sells to people with short positions will absolutely come out on top which is the point.

what about the wsb folks who were tricked into buying in at 150 today?

They expect it to reach 500-1000, if they are patient and right they'll probably find gold.

Re: The Battle of GameStop

#248

Post by nromiun »

It's like everyone has forgotten the past meme stocks of /r/wsb. GME is not something out of the ordinary. They do this all the time. First someone will pick a stock to pump and if it rises some people win and some will be left holding the bag. Remember the SPY puts at the beginning of 2020? The Chinese coffee startup that got delisted? NKLA? How PLTR pump lost the energy?

Re: The Battle of GameStop

#249

Post by blackrock »

bilekas wrote: post #238
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…

I cant agree with this more, I think though once the mindset takes over than a nomad lifestyle is also something that can be extremely fulfilling and changing peoples ideals of that 50's relic is key. We will probably be hampered by the extreme inequality of wealth for generations to come but I think our generation is losing patience and finding new ways to live happy. VERY Slowly but surely.

So now the new proposal is for people to live in RVs, and wander from town to town? No security. No firm ground to call home. This is a life worse than the medieval ages.

Re: The Battle of GameStop

#250

Post by blackrock »

elmomle wrote: post #169
refurb wrote: post #60

Earlier quoted context omitted.

I was explaining to a friend of mine a few weeks ago why cynicism is so prevalent in our generation Where have I heard this before? ” As adolescents and young adults in the 1980s and 1990s, Xers were dubbed the "MTV Generation" (a reference to the music video channel), sometimes being characterized as slackers, cynical, and disaffected.” https://en.m.wikipedia.org/wiki/Generation_X

Arguably all started in the mid-to-late 70s when leadership in the US essentially threw in the towel on trying to improve the nation and started dismantling the country for profit. Adam Curtis's Hypernormalization does a very good job of illustrating this overall trend as it was reflected in the zeitgeist.

This must be it.

Back in the 70s, Carter at least seemed to care about the American family’s wallet.

Now, America votes for a clown ex-president like Trump, thinking he’ll actually do something for them. Instead, he just surrounds himself with a bunch of other crooks.

And I highly doubt that Biden will do anything different to send America on a different trajectory.

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