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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

#31

Post by simpleguitar »

carnitine wrote: post #26
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...

Why do you think not a single institutional investor has rallied behind this cause? Hedge funds love fucking each other over and would embrace popularity with the public. Why hasn’t some firm with a few billion under management taken up this cause if there’s really anything there?

Because that would be illegal market manipulation.

Any institute, including GameStop themselves, would be committing a crime if they knowingly triggered a short squeeze. The SEC rules on this is quite clear.

What's interesting to me is that the official SEC report on GameStop "squeeze" specifically called out that the rise in price WAS NOT due to short covering, but rather a large increase in retail buying and market makers balancing options. So the reported % short went from more than 100% to less than %20 with zero short covering and prices falling? Yeah, sure.

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

#32

Post by Nursie »

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.

> There are still many retail investors who think the saga is far from over

I had the misfortune to encounter one of these on reddit the other week. I asked (what I thought was) a fairly simple question - are people still in it because they think the company has a reasonable chance of turning around and making good money, or is this now an idealogical thing about sticking it to the man, or a bit of both?

And I basically got a full-on hard sell as a response, massive amounts of details about business plans and any reservations I expressed were due to me being stupid and/or biased.

So that's me told.

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

#33

Post by mupuff1234 »

goldnugget92 wrote: post #21
mixologic wrote: post #8

Earlier quoted context omitted.

Yeah, yet not even cool enough to get its own phrase in the zeitgeist like "Drink the Kool-Aid"

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...

Where do you see a short interest of 220%? Checking yahoo finance now it's listed at around 20%.

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

#34

Post by djtango »

carnitine wrote: post #27
andrewclunn wrote: post #5

So because people traded (sometimes) using services that had associated fees... Wall Street won? There's nothing in this article that supports the click bait title.

Some small hedge funds no one had heard of had a bad year, while market makers like Citadel who thrive on volatility and high volume made a fortune.

Melvin Capital definitely wasn't a HF "no one had heard of"

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

#36

Post by swarnie »

galcerte wrote: post #11
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…

Most discussion around $GME takes place on r/Superstonk these days anyways. Can't remember why it was banned from WSB. Something to do with the new mods I believe.

Because it took over the entire subreddit for months on end and dominated all conversation.

You can only read "Reporting in from Kazakhstan with 2 shares, stay strong apes HODL" so many times....

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

#37

Post by shpx »

phphphphp wrote: post #7
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.

Also known as the Mother Of All Collective Delusions

A modern day cargo cult, the QAnon of finance.

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

#38

Post by goldnugget92 »

mupuff1234 wrote: post #33
goldnugget92 wrote: post #21

Earlier quoted context omitted.

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...

Where do you see a short interest of 220%? Checking yahoo finance now it's listed at around 20%.

Here is a archine from Jan 14, 2020 showing 101% of float SI. https://web.archive.org/web/20200114081942/https://www.marke...

The 220% was in Feb.

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

#39

Post by Kaspar1313 »

goldnugget92 wrote: post #38
mupuff1234 wrote: post #33

Earlier quoted context omitted.

Where do you see a short interest of 220%? Checking yahoo finance now it's listed at around 20%.

Here is a archine from Jan 14, 2020 showing 101% of float SI. https://web.archive.org/web/20200114081942/https://www.marke... The 220% was in Feb.

And in October 136%; https://web.archive.org/web/20201003083657/https://www.marke...

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

#40

Post by xwolfi »

andrewclunn wrote: post #5

So because people traded (sometimes) using services that had associated fees... Wall Street won? There's nothing in this article that supports the click bait title.

Well for sure bagholders of worthless GME stocks aren't winning, but the high volume of transactions spread a lot of money everywhere. 1 or 2 hedge funds are still struggling, but that's their problem, "Wall St" is bigger than these 2.
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