241–250 of 475 posts
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> high frequency traders are probably making a bundle. I've heard from a former colleague at a major HFT firm, that they hit their entire revenue target for the year, just in the past week.
What kind of self-respecting HFT firm has revenue targets? Surely you're talking about P&L.
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Does not seem far fetched. Killing the business means maximum profit for the shorters. Having a short interest of about 140% is also a good indicator that they would have loved to see GME bankrupt. In the end a short means a future buy and 140% of shares bought in the future means the price will go up eventually..
If the share price goes to 0 because of bankruptcy, shares don't have to be bought back/returned. That was the outcome Melvin Capital was going for.
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It's annoying. The regular guy should be able to profit off this too. I was at the gym yesterday and heard like 5 people talking about stocks: gme, amc, bb. Everyone is trying to get in on this and they're trying to stop it. They bogged gme at open to scare people and now it's back up. If they didn't remove the option for users to buy they surely would have bought the dip.
Blocking people from buying a stock is not the same as blocking people from profiting off of a stock; nobody knows what the future valuation of the stock will be, so if you prevent people from buying, you may just as well be preventing them from losing money as from gaining. Keep in mind that this is very likely a zero-sum game. At some point the bubble will pop, and as many people as gained money on the way up will…
GME has now become a $25B hedge fund with a gaming focus. They absolutely have the ability to become long term successful given these black swans they just experienced.
Now, I know *nothing* about their management, but they at least have been given a chance. Their's an Eminem song that they should be playing throughout their buildings right now. If I were them I'd sell more shares, pay down any bad debt, and invest in 10-100 of the best black swan ideas of my rank and file and see what happens.
I don't know- there must be institutional players on the long side by now right? Either way, _eventually_ someone will be left holding the bag when the stock comes back down to earth.
From what I understand, BlackRock has a long stake. https://www.sec.gov/Archives/edgar/data/1326380/000083423721... >BlackRock Inc. trimmed its holdings in Gamestop, Inc. (NYSE:GME) by 18.23% during the 4th quarter, according to the company in its most recent Form 13G/A filing with the SEC. The firm now owns 9,217,335 shares of GME, which represents 13.20% ownership.
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Where did I say that? They've been taught a lesson via losing a lot of money, and now they know will be a lot of eyeballs on any future trades of a similar nature.
How is that a lesson? What consequences have they endured that will affect their future behavior? "Eyeballs" is not a lesson.
Once again, this insistence on viewing 'Wall Street' as a monolothic entity. The largest asset management firm on Earth holds over 9 million Gamestop stock, none of the big banks that received bailouts in 08 are affected by this, 99.9% of hedge funds are not affected by this, high frequency traders are probably making a bundle. Institutional money was long Gamestop before this story entered the public consciousness.…
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Do you know how this whole thing started? It seems you're just coming in and dismissing the whole thing, when the person who started it with $50k is now sitting on gains of $50m and even people who bought in yesterday are up almost 2x.
And some people who can't really afford to buy Powerball tickets every week. And a few of them hit it big. Doesn't make it a rational choice from a purely economic perspective.
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Not sure if I missed something but did the government intervene here? I thought it was all private entities that stopped the trading?
The line is blurry. There was an immediate and emphatic appeal to the regulators, and the way the SEC works is often by encouraging self regulation. The CEO of the NASDAQ even went on air to ask for more SEC regulation. This isn't unusual, it's pretty much how "government intervention" via the SEC, and a lot of other regulatory bodies, actually works.
Once again, this insistence on viewing 'Wall Street' as a monolothic entity. The largest asset management firm on Earth holds over 9 million Gamestop stock, none of the big banks that received bailouts in 08 are affected by this, 99.9% of hedge funds are not affected by this, high frequency traders are probably making a bundle. Institutional money was long Gamestop before this story entered the public consciousness.…
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That sitting around playing drums and smoking doesn’t accomplish anything productive.
That’s called being civil. Would you prefer they instead break the law to have their voices heard? Do you want wall street suits to fear for their life?
Well... yes? For less than what this guys did Louis XVI lost his head.
They can do what they want and suffer no consequences, of any sort. Neither economic (they get bailed out by us) nor personal (virtually nobody gets personally prosecuted and sent to jail). Why should they stop what they're doing? In their position, I wouldn't.