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Wall Street was the real winner of the GameStop saga

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

#231

Post by FuriouslyAdrift »

clove wrote: post #229
daenz wrote: post #225

Earlier quoted context omitted.

Don't take this the wrong way, but if you worked as a trader and knew how to how to identify and research these opportunities, then why were you paying car, house, and student loans for 35 years until the GameStop opportunity came around?

An even better question is why did he pay off the debt. With the status of inflation and rates at present, it's infinitely smarter to keep the debt and reinvest the profits from the GME trade. He's clearly talking about something like 20%+ interest payments on credit cards but mortgage rates that can be outpaced by bond investments. All around, he doesn't seem like he knows how to manage his money.

I only draw 65k per year salary but made an extra 80k in investing last year. I usually average draw about 30k let year from 1 year and a day stake. I can do that year after year. I work when I want and am beholden to no one.

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

#232

Post by fastball »

stouset wrote: post #180
fastball wrote: post #173

Earlier quoted context omitted.

One can only hope that the counter-party was Melvin Capital.

There were at least two counterparties (one selling the shares, one eventually buying them), one of which was exceedingly unlikely to be Melvin.

Well yes, but only one counter-party had to be the "big loser" in order for OP to be a big winner, and there is a decent chance in that trade the loser was Melvin.

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

#233

Post by ziml77 »

zinclozenge wrote: post #179
CommieBobDole wrote: post #174

Earlier quoted context omitted.

/r/superstonk used to show up in my feed on Reddit a lot, and it seemed like most of the highly-upvoted posts were elaborate explanations of how, any day now, there was going to be some sort of massive short squeeze that was going to cause $GME to hit a price of ten or twenty million dollars a share (at which point the outstanding shares of $GME would be worth more than everything else on earth combined), and everybo…

Superstonk has pretty much been a qanon-esque community since day 1. I still hold 10 shares of GME (bought at $220 oof) _just in case_. With that said, every now and then they come up with something that makes me do a double take. Right now they're obsessed with direct registering their shares. I'm guessing they think that if they can lock up the whole float they can force a short squeeze. Also if ryan cohen issues a…

$220 was a steal compared to what I got mine at. But I was never under the impression that the what /r/wsb was saying was going to come true. I was just rolling the dice on being able to find a greater fool. I knew the price was very high, but I expected the hype to go on for longer than it did.

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

#235

Post by aahortwwy »

mattbrewsbytes wrote: post #158
a254613e wrote: post #67

Earlier quoted context omitted.

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

There are facts out there amongst the near constant stream of BS on reddit. GameStop filed a SEC form [0] about disclosing a partnership with Immutable X, which is in the NFT space for games, not art. The market for in-game purchases (like every mobile game for crying out loud) is huge. Epic games' Fortnite is 100% free to play but has a store for purchasing cosmetic stuff (and a lawsuit with Apple over this). There…

If this is their strategy it's incredibly silly.

1. The Steam Community Marketplace already exists.

2. Why is GameStop - a retail chain with an increasingly irrelevant brand - the right company to build a digital marketplace?

3. Why would developers and publishers participate in GameStop's marketplace - what would it offer them?

4. Gamers hate NFTs. Search that phrase.

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

#236

Post by aahortwwy »

olladecarne wrote: post #90

Why is the financial media so obsessed with Gamestop? It's a relatively tiny company and if it truly was the case that it is over they would have stopped talking about it. Instead they publish fear-mongering articles and hit pieces on people like Keith Gill who was just a normal person seeing a value investment and got lucky. hint: http://www.paulgraham.com/submarine.html

People click on stories about GameStop.

No conspiracy necessary.

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

#237

Post by Melting_Harps »

djanogo wrote: post #197
wsb_mod2 wrote: post #132

Earlier quoted context omitted.

You should check it out again. We recently restricted memes to Friday afternoon to Sunday morning and the context is almost all text now.

I used to visit WSB 5 or 6 years back, whenever I visit it now it all seems to be millionaires pumping their positions in separate trading account as "YOLO" trade trying to get dumb people to pump the stock. All WSB does now is magnify the winners/pumpers while leaving trail of poor people without their money.

> All WSB does now is magnify the winners/pumpers while leaving trail of poor people without their money.

That's all it ever was from my observation from around the same time; they shill the most absurd stock with emojis and brag about taking losses with diamond hands, but somehow discussing Bitcoin as an actual way to counter-act the ills of the 'hedgies' or central banks was banned so I lost interest.

I occasionally drop back in for certain things.

Like the ape statue at Wallstreet in front of the bull and buying kids those switches was cool, though.

But those incidents were always the exception, not the rule.

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

#238

Post by ggambetta »

iib wrote: post #223
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…

On page 7, it seems that IVANOV is the one that tells ANTHONY to short WeDeliver, but on page 31 it seems that IVANOV is mad at ANTHONY that he (IVANOV) lost money. I understand how a perceived egotistic person that IVANOV seems to be would feel this type of anger, but why would ANTHONY accept this?

Great observation. I don't have a clear answer for this. The relationship between Ivanov and Anthony reflects the power relationship between their respective hedge funds (and later when Feng shows up, Feng > Ivanov > Anthony). Could say that Anthony was responsible for executing Ivanov's plan, so he's blamed when it fails, or that Ivanov is the kind of person who blames everyone but themselves when things go wrong, and Anthony is weak and/or afraid of Ivanov, so he just takes the blame without pushing back. But again, great observation, will try to improve in future drafts.

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

#239

Post by Melting_Harps »

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…

> Anyway, here it is. Feedback welcome.

I'm 10 pages in, it's engaging and taps into the whole 'GME is Occupy Wall Street 2.0' narrative that was widespread in late 2020-2021. It reads a lot like 'How to Sell Drugs Fast' to me.

I think we really should have a monthly screen-writer post on HN, throughout the years here I've read a few things that seemed like it had potential if it were fleshed out but usually fell on deaf ears. I have a few pilots and screen plays I go back to when I have down time.

Who knows maybe a FAANG worker has an in at Netflix?

Edit: Just finished it, the last act seems really rushed, like it was meant to meet a page threshold more than finding the protagonist's resolution.

The overall arch was solid, with typical banter and some inside jokes that could still be relatable to the uninitiated.

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

#240

Post by lutzwutz »

whatshisface wrote: post #192
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…

I like the script but you might want to tone it down at the start. I think it was good up until the christmas tree, and the wishing star was a little over the top. The emotions being expressed are clear already, and you don't need to translate it into symbolism for the audience to understand. :)

Lutz / Co-writer here. Thanks for your feedback! I'm mostly to blame for the excessive use of symbolism as I'm personally a big fan of visual storytelling as opposed to focusing on dialogue to explain the set-up in a scene. But I agree with you, maybe it was a little too much considering the context was already set very early into the scene!
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