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Wall Street was the real winner of the GameStop saga

economist.com

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Re: Wall Street was the real winner of the GameStop saga

#61

Post by mcv »

danuker wrote: post #41
mcv wrote: post #20

Earlier quoted context omitted.

I made a little money of it last year when the squeeze squoze, and I don't see it happening again. I was late to get in, but not too late; the next morning, the price had doubled, so I sold half. I held on to the rest just to be along for the ride, but I think that morning was the real squeeze. I think I bought some extra on a dip, sold half of that for double again, and sold the rest on a minor bump a few months lat…

> remember to buy the dips As long as the dip is not permanent, say, due to a permanent change in the fundamentals. Then it might just keep dipping.

Of course. Always check if something changed about the company itself.

And when trading derivatives, even dips caused by the market (rather than fundamentals), can lose you lots of real money. Because even if it will eventually recover, it might dip deeper and longer than you can afford. I lost a ton of money on Tesla that way. (I would have been rich now if I'd been able to keep that.)

Re: Wall Street was the real winner of the GameStop saga

#62

Post by ashurov »

I have seen so much fuckery with the stock price and ridiculous headlines in het media about GME that can't really believe that we have seen the actual squeeze. Furthermore, the SEC report said that the price run-up was because retail bought in, not because the hedge funds closed their positions. So when did they do this and went from 200% to 20%? Besides all of that, the fundamentals for GME are great. They are hiring great people and seem to be working behind the scenes with some of the biggest companies to, what seems to be, create a NFT marketplace linked to gaming, that will be 'carbon neutral'. all-in-all a good investment on that end I think. time will tell.

Re: Wall Street was the real winner of the GameStop saga

#63

Post by xenadu02 »

goldnugget92 wrote: post #23

Its easily dismissed as conspiracy but having read many of their supporting arguments and seeing the SI (Short Interest) being over 220% myself along with the SEC report suggesting that shorts never closed their position... I can't say I would dismiss the possibility of another short squeeze...

A bunch of shorts 100% closed their positions. That was the original smaller push that made the stock take off. The rest of it was momentum from retail investors, algorithms, etc.

There was never going to be a flag day though... shorts cover over time as their bet looks less likely to payoff. By the time the "squeeze" day arrived the billion dollar losers had already covered.

Re: Wall Street was the real winner of the GameStop saga

#64

Post by moffkalast »

rvanmil wrote: post #6

There are still many retail investors who think the saga is far from over, and are now betting on direct registration (DRS) of their GME shares with the goal of triggering another, much bigger short squeeze than last year.

It does seem like a good idea on paper, though when you look at the reports of how many people have actually DRSed their shares it becomes painfully obvious that it's so few that it isn't likely to ever make a difference.

Re: Wall Street was the real winner of the GameStop saga

#65

Post by moffkalast »

just-tom wrote: post #35

I suggest we start putting [PAYWALL] in titles of links that have paywalls. This way, my time and others' will be spent better.

12 ft ladder works on the Economist: https://12ft.io/proxy?q=https%3A%2F%2Fwww.economist.com%2Fcu...

It's pretty funny that the entire article is only like 3x the length of the preview.

Re: Wall Street was the real winner of the GameStop saga

#66

Post by pkhamre »

capableweb wrote: post #45
danuker wrote: post #44

Earlier quoted context omitted.

How and why is that illegal? I am stumped that market participants would not be allowed to correct the capital misallocations of others. Is there any law or ruling you can point out to?

> How and why is that illegal? I am stumped that market participants would not be allowed to correct the capital misallocations of others. I don't think (but someone correct me as I'm no professional) the occurrence of short squeezes are illegal, unless there is a knowing collusion behind it (check previous cases from courts regarding collusion to trigger short squeezes). What is illegal is naked shorting ( https://w…

Side note; The CEO of Aterian ($ATER) has tweeted about preliminary data of naked shorts and that they hired a third party company to fight this.

https://twitter.com/yaniv_sarig/status/1455515851541598208

https://twitter.com/yaniv_sarig/status/1448716392656670722

Re: Wall Street was the real winner of the GameStop saga

#67

Post by a254613e »

ashurov wrote: post #62

I have seen so much fuckery with the stock price and ridiculous headlines in het media about GME that can't really believe that we have seen the actual squeeze. Furthermore, the SEC report said that the price run-up was because retail bought in, not because the hedge funds closed their positions. So when did they do this and went from 200% to 20%? Besides all of that, the fundamentals for GME are great. They are hiri…

This reads exactly like the comments on conspiracy theory subreddits like Superstonk.

Re: Wall Street was the real winner of the GameStop saga

#68

Post by [deleted] »

a254613e wrote: post #67
ashurov wrote: post #62

I have seen so much fuckery with the stock price and ridiculous headlines in het media about GME that can't really believe that we have seen the actual squeeze. Furthermore, the SEC report said that the price run-up was because retail bought in, not because the hedge funds closed their positions. So when did they do this and went from 200% to 20%? Besides all of that, the fundamentals for GME are great. They are hiri…

This reads exactly like the comments on conspiracy theory subreddits like Superstonk.

[deleted]

Re: Wall Street was the real winner of the GameStop saga

#69

Post by rccb2002 »

moffkalast wrote: post #64
rvanmil wrote: post #6

There are still many retail investors who think the saga is far from over, and are now betting on direct registration (DRS) of their GME shares with the goal of triggering another, much bigger short squeeze than last year.

It does seem like a good idea on paper, though when you look at the reports of how many people have actually DRSed their shares it becomes painfully obvious that it's so few that it isn't likely to ever make a difference.

What reports have you seen that show the actual numbers? Genuinely curious. As far as I know, there is only one report that has been released--that was by Gamestop itself for the 3rd Quarter (Aug 1-Oct 30). That number was 5.2 Million.

Now, the DRS movement, for lack of a better term, did not start to take off until late August/Early September. IOW, DRSing shares has not been going on since last January.

The next quarterly results (Nov-Jan) will be released around the end of March and, assuming that Gamestop continues to release the DRS numbers, will provide 2 data points.

The last point I would like to make is that the total number of shares outstanding for Gamestop is only 76.5 Million. 12 Million of those shares are Insider shares. Even if you Ignore institutional holdings and individual investor shares held in brokerage accounts, 5.2 Million is 8% of 64.5 Million. I would say that is not an insignificant percentage, even if the DRS movement stagnated after October.

Re: Wall Street was the real winner of the GameStop saga

#70

Post by eternalban »

ggambetta wrote: post #4

It was a weird, fun ride. My writing partner Lutz and I work in tech, but have a real passion for filmmaking. We lost some money on $GME, so we had to tell the story from our point of view. The result is STONKS, a comedy/drama feature screenplay [0], fictional but inspired by the GME events, and a love letter of sorts to WSB. We queried Hollywood producers but were ignored; we shared on WSB itself but we were insta-b…

Read it, it's good. (Typo page 45 r/the approach/they approach).

"not bad for a day's work"

Interesting definition of work. I see Kyle's future having morphed into Ivanov..

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