41–50 of 104 posts
This article claims the catalyst for GME’s meteoric rise was a change to their board altering the company’s narrative. Josh Gross claims it’s because u/DFV liked their 10-Qs. So which is it? One? Both? Neither? https://twitter.com/endtwist/status/1354547622133051393?s=20
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.
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.
Earlier quoted context omitted.
This is nothing like the size of the bubble (US housing market) that precipitated those crashes.
It is actually. The housing market had real collateral even if it was overly appraised.
The current market cap of GME is $25 billion. Meanwhile, the size of the subprime mortgage market in 2008 was in the neighborhood of $50 trillion.
I 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…
I'm pretty sure bringing up fundamentals is intentional FUD. Nobody is investing in any of these because of fundamentals. It's the public vs hedge funds and GME et al is the battlefield. The more people take part and have strong hands, the more the losses will be democratized, on the way to the real desired outcome against naked shorting hedge funds. I don't mind losing a couple hundred bucks investment for this.
The irony is, once this stock finally comes crashing down, it will be the small retail investors losing a lot of money, and a different set of Wall Street investors will be the ones reaping the reward.
I 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…
I'm pretty sure bringing up fundamentals is intentional FUD. Nobody is investing in any of these because of fundamentals. It's the public vs hedge funds and GME et al is the battlefield. The more people take part and have strong hands, the more the losses will be democratized, on the way to the real desired outcome against naked shorting hedge funds. I don't mind losing a couple hundred bucks investment for this.
It’s a credentialist argument. Whatever we say the stock is worth is fundamentally correct, and if you disagree, well, you’re just an unsophisticated investor who shouldn’t be allowed to participate in the market.
Earlier 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.
Something like this could trigger a cascade, but that cascade would rest solely on the people who built this bubble.
> Left claims that the “mob” has overstepped the mark and harassed him and even his family in a way that is actually illegal. If that is true, shame on them, and those involved should be prosecuted. This must be condemned without hesitation; nothing excuses that type of behavior. Online harassment of those with different opinions, particularly in pursuit of profit, is disgusting and becoming all too common, and stand…
Note the "If". Left had indeed claimed that there were attacks on his personal peers, and I agree that if it were true it is overstepping their right to privacy and probably life if the claimed attacks were death threats.
HOWEVER, if it turns out that Left is lying I will agree that Left have commited defamation against a group of possibly hundreds of thousands of people and I would really suggest to him at that moment (apart from what the law thinks appropriate, which is a somewhat long prison time) to really apologise and permanently stay outside of the stock market.
He is English and I knew from reading their (in a country sense) opinion pieces that they tend to put distance in unsure or unverified information, possibly because of the much stricter libel/defamation laws there (see as an example https://youtu.be/z49LjJj3VTI that discusses why there is avoidance on the phrase "tired and emotional" which acquired a different meaning in UK). I guess that this is just an unintentional carryover especially that American opinion pieces don't really delinate fact from opinion in their writing.
Earlier quoted context omitted.
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.
Agreed. There's a good reason why so many of these hedge funds held short positions -- $GME is a business facing significant headwinds beyond what you'd see from the pandemic and a typical P&L statement: - Their primary product is used game sales, and the biggest players in that sector are making active moves against such sales (see: the disc-less PS5 and Xbox Series S consoles). - Digital storefronts make purchasing…
I 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…
I think you don't understand what wallstreetBETS is all about. It's not investments. It's playing the casino. They are betting. And proud of it. And this is one of the first times they have an advantage over the rest of the table. Because a couple of hedge funds overplayed their hand on a stock small enough to be influenced by the people active in that sub. They are ready to lose it all just for the lulz. It's entert…
It’s also illegal, which seems to have been left out of all the conversations.
“ The rush by short sellers to cover produces additional upward pressure on the price of the stock, which then can cause an even greater squeeze. Although some short squeezes may occur naturally in the market, a scheme to manipulate the price or availability of stock in order to cause a short squeeze is illegal.”