191–200 of 554 posts
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The guy struck rich! Same with people who shorted crude last year when it went straight to -40. Billions were made.
I realize I need to do some basic reading on this stuff... but, when you say "made" does that really mean "changed hands"? Or is value/money somehow generated in these processes?
Looking back at (u/deepfuckingvalue) Keith Gill's comments on r/wsb, it looks like they had a solid theory to cash out by Jan 2021 for $8+ a share (most of their calls starting June 2019 were 80 cents a share or less [0]). This was by no means a strategy to make money by squeezing the short, though one user, conspicuously named u/burrym, speculated that it ought to be [1]. [0] https://archive.is/Y953e , https://archi…
[1] https://www.businessinsider.com/gamestop-michael-burry-big-s...
Earlier quoted context omitted.
The guy struck rich! Same with people who shorted crude last year when it went straight to -40. Billions were made.
I realize I need to do some basic reading on this stuff... but, when you say "made" does that really mean "changed hands"? Or is value/money somehow generated in these processes?
Can they cash out at $500 or $1000?
Can they offer additional shares in the market, after clearing it with the SEC?
Then, can they take that windfall money, and actually reinvest it into R&D, and build their own GameStation 1 video game system? In order to justify their new lofty valuation.
What makes WSB legal vs emails about imminent pump on an unspectacular stock? What stops somebody from purchasing aged reddit accounts and then pumping up, upvoting their own threads?
matt levine talks about this very thing in one of his other posts on wsj > So if you buy stock with the purpose of pushing the price up so that other people will buy it, that’s market manipulation. If you buy stock hoping that the price will go up because other people buy it, that’s not market manipulation; that’s just normal. Those things are not so different. There is a “traditional four-part test for manipulation…
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Just because he's still in doesn't mean that it's actually worth $300 on the fundamentals. I could definitely see the argument that $20 was undervalued, but it's plain to see that the short-squeeze is now part of the calculation of value. There is no way that GameStop has an actual fundamental value of $300 per share. That price is clearly inflated, and in a few weeks will decrease, probably to somewhere above $20, b…
Any stock that does not pay dividends _has no fundamentals_. It's just supply / demand.
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Check all his recents posts, then you can fact-check that statement and see that he has liquidated and earned some cash, and is simultaneously holding on to some significant stocks. Both things are true.
About $13.8 million he’s got out of the stock to be exact, if reports elsewhere in the thread are correct. This shows how ability to influence large numbers of people can convert to money, and the closer you are to the root the bigger slice of the cake you get.
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It says as much in the article. He literally just thought GME was undervalued on its merits. He had no intention of creating a squeeze or punishing Melvin.
The guy struck rich! Same with people who shorted crude last year when it went straight to -40. Billions were made.
The fact that IBKR couldn’t handle a negative oil price at that time made me realize that for all their marketing as being a higher quality broker for serious investors, they had some serious holes.
Then when they stopped buys on GME while Vanguard and Fidelity still allowed them, I gave up on IB completely.
Right now I’ve bought puts on IBKR - I expect a lot of clients with money will drop them (along with Robinhood etc.) and move to Vanguard/Fidelity.
Earlier quoted context omitted.
It says as much in the article. He literally just thought GME was undervalued on its merits. He had no intention of creating a squeeze or punishing Melvin.
Just because he's still in doesn't mean that it's actually worth $300 on the fundamentals. I could definitely see the argument that $20 was undervalued, but it's plain to see that the short-squeeze is now part of the calculation of value. There is no way that GameStop has an actual fundamental value of $300 per share. That price is clearly inflated, and in a few weeks will decrease, probably to somewhere above $20, b…
The price is bonkers.