The Battle of GameStop

Post by kangaroozach » Thu, Jan 28, 2021, 9:14 AM UTC

kbenson wrote: post #474

glazyrin wrote: post #472

Earlier quoted context omitted.

I think this is a truism which doesn't always apply. Suppose that there are 1,000 basement-dwelling redditors (okay, it's a caricature). Each has their basic needs taken care of, but not much money, and not much scope to improve their lot in life. What little money they have doesn't get invested, but spent frivolously. Suppose 1,000 such people could all put in $500 and give it to a randomly selected one of them. Tha…

This is just the flip side of why people support progressive taxes. If you believe that a flat tax is unfair because the people at the lower end of the spectrum have much less free money that isn't taken up by base needs, then it follows that different amounts of money affect people in different circumstances differently. To the person with 10 million dollars, doubling their wealth is nice for them but likely won't r…

Post by alisonkisk » Thu, Jan 28, 2021, 2:04 PM UTC

dash2 wrote: post #88

fennecfoxen wrote: post #9

Earlier quoted context omitted.

People exist who in the past two days paid $150 for a share that most analysts think is worth about $14 — at a company with negative earnings for six of the last seven quarters, and minimal earnings growth over the past few years. I'm sure there was some bull case for the company, and it might have had a snowball's chance in hell around $14 or even $20/share. But at $60+ ? What on God's good earth is supposed to make…

One answer is given at gmedd.com, which presents analysis suggesting that even in the “bear case”, GME could be fairly valued at about $40/share. Disclaimer: I don’t know if their analysis is any good, but would like to hear your thoughts.

Post by alisonkisk » Thu, Jan 28, 2021, 2:12 PM UTC

finolex1 wrote: post #349

0b01 wrote: post #7

Citadel can see 80% of retail orderflow such as Robinhood and is massively long since last Friday as can be seen from the calls they are selling. Now it is likely the steam has run out(gamma cascade) so they are placing their bets on the opposite side by taking over Melvin which is massively short without causing too much market impact.

I may be wrong, but there is an information firewall between Citadel Securities (the market maker that pays for order flow), and the Citadel LLC (the hedge fund that is bailing out Melvin Capital)

Post by magnio » Thu, Jan 28, 2021, 2:29 PM UTC

Bjartr wrote: post #171

elmomle wrote: post #169

Earlier quoted context omitted.

Arguably all started in the mid-to-late 70s when leadership in the US essentially threw in the towel on trying to improve the nation and started dismantling the country for profit. Adam Curtis's Hypernormalization does a very good job of illustrating this overall trend as it was reflected in the zeitgeist.

“The children now love luxury; they have bad manners, contempt for authority; they show disrespect for elders and love chatter in place of exercise. Children are now tyrants, not the servants of their households. They no longer rise when elders enter the room." -Socrates

Post by rank0 » Thu, Jan 28, 2021, 4:04 PM UTC

kortilla wrote: post #539

rank0 wrote: post #492

Earlier quoted context omitted.

Your friends are lying through their teeth. Do you honestly believe these people aren't motivated by profit, when they are clearly entering long positions with the intention of driving up GME's price? It's straight up doublespeak.

A $1000 ticket to punch a 0.1% right in the balls is a worthy trade for many. People donate to political parties just to fuck the other party.