I swear, GME is the feel-good story of the year.
I sincerely hope this comment ages well, but I doubt it will. A scenario where a majority of the retail traders in GME right now come out ahead would be surprising.
The Irony in the GameStop Story
11–20 of 104 posts
Re: The Irony in the GameStop Story
#12I swear, GME is the feel-good story of the year.
The irony of manipulating markets against market manipulators is delicious.
This will also punish over exposed players who are probably reviewing their short positions as this unfolds.
Re: The Irony in the GameStop Story
#13Off topic but I noticed a large number of large empty white spaces. Then I realised that my browser is blocking all those ads. Kind of sad how much of that page is ads.
WOW, those are some serious ad spaces...
If anyone wonders, this is what the page looks like on Firefox with uBlock Origin: https://imgur.com/bvrLMTv
Re: The Irony in the GameStop Story
#14Earlier quoted context omitted.
Gotta say I agree, after hearing non crap news for a year. It's nice to see a hedge fund eat their hat.
Until it cascades like Lehman and AIG with USA citizens holding the bag. In two days we are 33,333 days since the crash of 1929.
This is nothing like the size of the bubble (US housing market) that precipitated those crashes.
Re: The Irony in the GameStop Story
#15Earlier quoted context omitted.
Gotta say I agree, after hearing non crap news for a year. It's nice to see a hedge fund eat their hat.
Until it cascades like Lehman and AIG with USA citizens holding the bag. In two days we are 33,333 days since the crash of 1929.
If that is possible here, there needs to be more regulation on hedge funds so they do not operate in a "heads I win, tails the US govt. bails me out" scenario.
Re: The Irony in the GameStop Story
#16I agree that Citron and especially Left is indeed ironic in this situation (and the refreshing reminder that a: American English is derived from English English and b: the internet is not just Americans). The small-scale market (as a group) is doing the exact things as him in other instances, but the call for restrictions is, to say the least, confusing.
Re: The Irony in the GameStop Story
#17Earlier quoted context omitted.
Gotta say I agree, after hearing non crap news for a year. It's nice to see a hedge fund eat their hat.
Until it cascades like Lehman and AIG with USA citizens holding the bag. In two days we are 33,333 days since the crash of 1929.
That's the most hilarious part of it. It's a given that someone is going bankrupt big time and someone is going to want to be made whole. They will threaten the stock market until the USG bails them out.
Re: The Irony in the GameStop Story
#18I still feel like these stories are missing a core distinction. If these WSB folks rallied around GME because they were true believers of a beloved brand with faith in a turn around plan, god love em. I think that’s an interesting phenomenon that upgrades retail collective trading in much the same ways mutual funds behave on behalf of loads of retail investors. But that’s not what happened. The brand is irrelevant. I…
> But that’s not what happened. The brand is irrelevant. It’s just math and vengeance and in the end...a lot of retail folks are going to be left holding the bag as prices drop down to earth. That cannot be a good outcome for anyone. I don’t think we want a system to function like this.
Not sure what you suggest be done about it. Hopefully people learn their lessons but it is not like we can eliminate the possibility of doing dumb things, and doing so would be quite illiberal.
Re: The Irony in the GameStop Story
#19I swear, GME is the feel-good story of the year.
Gotta say I agree, after hearing non crap news for a year. It's nice to see a hedge fund eat their hat.
I think the sentiment will shift when people realize that some of these hedge funds invested people's pension money, or university endowments, or any other number of people's funds. WSB has promoted a cartoonish version of Wall Street where hedge funds only hold rich, evil people's money. That's not really how this works.
A lot of people are also going to be disappointed to learn that some Wall Street firms profited massively from this situation.
And finally, a lot of retail investors who were late to the party are going to lose a lot of money on this. Some of that will flow to early Redditors who got their exit timing right. Some of that will flow to hedge funds who cleverly scooped up the naive money in the chaos.
I'd go so far as to bet that journalists are already working on articles with all of these angles. They'll start to trickle out just as soon as the market euphoria wanes.
Re: The Irony in the GameStop Story
#20I swear, GME is the feel-good story of the year.
Unfortunately, the hedge funds will be 100% fine and probably capitalize on this event and somehow still come out ahead. The WSB folks who started this have probably already sold out so they're fine. It's average everyday folks who bought into this robin hood (not the app) story and purchased stock at recent prices who will lose a lot of money