There is no question that the Financial Establishment is your fucking enemy.
They want you broke, they want homeless, they want your wife dead, and your children raped; and they think it's funny. They also own your mortgage, pension, bank account, and credit card. Killing you is only a waste because they want all the income you will ever make in your life to pay of their financial instruments.
Make no mistake. The Establishment Journos are running defense of the Institutional Investors, and those Institutional Investors are going to want to keep this kind of thing from ever happening again. Expect hyperbolic claims of cyber-terrorism being directed at Reddit. Also expect that the government will try to pass legislation to either:
a) ban retail investors from making purchases at times of their choosing
b) censor forums so they can't talk about making investment purchases
c) both.
TD Ameritrade is restricting the short sales on GameSpot and AMC. Further attacks are likely to follow. There is no level that the Establishment will not stoop to. Remember, Social Justice is merely a weapon that these people use.
Talk to your friends and family and pass along the information to resist this bullshit and refuse to accept the victim mentality of the most powerful people on Earth.
Imagine a peasant wrestling a sabre out of a noble's hand in front of other nobles.
It doesn't matter how insignificant it is, a prole rose above his station and got better off because of it. If they could make it so, heads would be rolling now.
The exchange as a whole has "circuit breakers" which will stop trading if the market drops a certain amount in a day. I wouldn't be surprised if the platforms institute something like that on GME and AMC once people start selling and the price starts to go down.
Yeah, whenever it starts to drop there's going to be a panic of sellers trying to get out.
I haven't looked at the Reddit in question, but I'd be willing to bet they aren't making sound financial decisions themselves. I suspect there's a lot of people on that side way over leveraged and way too greedy to take profits and instead throwing more money they don't have into more shares.
Most of these people aren't trying to make money. They're sending a message. They're announcing to the whole world that brazen market manipulation is now for everyone, and the elites can't stop them without revealing to everyone just how rigged the game truly is.
I'd be willing to bet they aren't making sound financial decisions themselves
Hey, we're off the charts in terms of the U.S. economy. We're on the part of the map that says, "here, there be dragons."
The people playing this game aren't doing anything that the big brains in U.S. government and the Federal Reserve haven't already done at a much larger scale.
I don't blame them they do what they want to do. Not my money or life, so not my call. I think what I was getting at is I really see this as the kind of people that are so over-leveraged that when something pops, they are pretty much bankrupt. That's what I meant by sound decisions. But again, that's just my way of doing things. As long as they don't want free shit from me when they screw up I don't care.
And yeah, the economy and particular the stock market is totally effed up. I'm usually good at evaluating stocks (at least with respect to my earning goals), but trying to find things to buy now really just leaves me with a funny look on my face.
From what I've seen even when they do things that are "sound" they crank them up to 11 so that if something goes wrong it becomes a bloodbath.
Back in March there was a guy who got a $275k margin call for leveraging a 55/45 UPRO/TMF portfolio (which itself consists of triple-leveraged funds). Because something that wasn't supposed to happen -- the S&P 500 and long-term Treasuries both being down simultaneously -- happened.
Meanwhile if you just held on to that portfolio unleveraged you did pretty well for yourself last year.
Yeah that's not a bad portfolio at all as-is. I'm not into leveraging on stocks myself anyway. There's plenty of ways to increase risk/reward without buying on margin. I've just learned I'm not the gambling type. I'm still grumpy about my oil ETFs falling apart last year as it is.
They can have their crazy shit, I'll stick to boring stock trading and my real estate investments.
Anyone buying now on the hype is going to get burned and get burned hard in the long run because gamestop is probably going to plummet to below its december price of 10 dollars once this is all said and done and the panic selling ensues.
Tomorrow we fight back harder than we've foiught all year, this is a direct attempt to c ompletely silence the non one percent! FUCK WALL STREET, FUCK THE SHORTS, FUCK EVERYONE WHO DARE DEFY THE AUTISTS!!!
God speed you glorious sons of bitches.
I wanna own GameStop when you're done. Imagine it now: "GameStop: Powered by GamerGate"
Since economic powers that be are threatening to lock any stocks that show too much volatility or about which too much bantz exist, would this not give the reddit/4chan crowd the ability to lock down the entire stock market, more or less?
And now the left and their controlled platforms are going after individuals, and are on the side of big Wall Street corporate investment. I'm just stuck with a WTF look on my face.
Here's kinda the full story and backdrop. I wrote this like a week ago so it's a little outdated.
Take it back to March 2020. Gamestop is a dying company. Everything Gamestop did in the past can now be done online. Worse, Covid-19 is decimating physical retail. People expect Gamestop to file for bankruptcy anytime. Share price: ~$2.80.
While all this is happening, hedge funds/investors have been shorting Gamestop. I won't go into the exact mechanics of shorting a stock, but what's important to know is that unlike buying a stock and making money when it goes up, in short (aka selling short and short selling) you make money when the stock goes down. Short selling is important to the story. The funds who sell short are called short sellers. The biggest short seller is Melvin Capital. Short sellers made a lot of money shorting Gamestop from $45 to $2.
IIRC, things are quiet from April end to June. GameStop stock keeps seesawin between $3 and $6.
It's near the end of August now. GameStop has made some good moves in regards to paying of their debts and taking better loans. They might have done other stuff too, I don't fucking remember. Console release hype for the new Xbox and PS are setting in.
Out of the blue, Microsoft announces a fantastic partnership with GameStop. The next couple days, GME share price rockets from $5 to $10. On WSB, the crowds is turning bullish. They're further motivated by u/DeepFuckingValue, who, in his end of September update posts his position... and he is a [FUCKING MILLIONAIRE] (https://old.reddit.com/r/wallstreetbets/comments/j2u3zn/gme_yolo_monthend_update_sep_2020/). Throughout the summer, DPV has continued to add to his GameStop position. From being 40k in the red, DPV is now 989k in the GREEN. He has taken his initial investment of ~140k and turned it into 1.4 Million. He isn't even fucking done yet.
All this while, short sellers like Melvin Capital are getting antsy. You see, short selling is far more dangerous than simply buying a stock. When you buy a stock at $1 and it goes to $10, you have made $9. If it goes to $0, you have lost $1. But you can only lose at most your initial investment. On the other hand, if you short a stock at $1, expecting it to go to $0, and it goes to $10, you have lost $9 - 9 times your initial position size. Now imagine shorting 10 million dollars worth of GameStop at $5. If it goes to $10, these short sellers OWE money to their brokers. They owe 10 million dollars.
In order to exit their shorts, short sellers have to buy back the shares from the open market. Buying raises the price of a stock - that's simple supply and demand. The problem is that these short sellers have gotten SO FUCKING GREEDY, that they've started to sell short stock that doesn't exist. This is called naked short selling. For GameStop, more than a 100% of the stock is being sold short. WSB autists theorize that the resulting buying pressure from short sellers exiting their positions will cause the share price to sky rocket. This phenomenon has a name: [Short Squeeze] (https://www.investopedia.com/terms/s/shortsqueeze.asp). It happened to Voltswagen in 2008, Tesla in Feb 2020, and the retards on WSB are hoping it's going to happen to Gamestop too.
WSB has a brilliant idea: buy shares of GME to reduce the shares available for short sellers to buy back. This buying should drive the price of GME higher, forcing the short squeeze to happen sooner. It's a positive feedback loop that's putting short sellers on suicide watch. The name of the game: the Gamestop Infinity Squeeze.
For many reasons, whether the strong bullish case from the console releases, the restructuring of corporate debt, or partnerships with company like Microsoft, the folks on WSB found reasons to buy GameStop.
And from September to November, WSB continue to buy shares of GameStop. [Some attempts at tabulating ownership] (https://old.reddit.com/r/wallstreetbets/comments/k5ociy/gme_ownership_survey_update/) show that /r/wallstreetbets owns ~4% of the company. For a billion dollar company, that's nearly 40 million dollars in shares held by the basement dwellers on WSB. Share price mid month November: 15 bucks flat.
Mr. Cohen doesn't like the way GME is being run by its executives. He thinks that GameStop should transition from physical retail to ecommerce. He thinks he can run GameStop better than the shrooms already on the board of directors... and he probably can. Ryan Cohen is a smart. He founded and ran Chewy, a company that sells pet products online. He essentially went toe-to-toe with Amazon and survived, netting himself a cool 3.35 Billion when he sold it to PetSmart in 2017.
Like WSB, Mr. Cohen has been slowly been buying shares in GameStop. But it's not to trigger the Infinity Squeeze. At 10% ownership, Cohen can put people on board of directors and change GameStop in a way he see fits. Cohen begins tweeting about GameStop. [In late November, Mr. Cohen announces he has a 9.99% stake in GameStop, slightly below the controlling amount, and issues a letter demanding that GameStop begin a transition to ecommerce.] (https://www.cnbc.com/2020/11/20/former-chewy-ceo-ryan-cohen-urges-gamestop-to-become-the-amazon-of-video-games.html) The letter falls on deaf ears.
At this point, the hype on /r/wallstreetbets is unparalleled. GameStop is one of the most mentioned companies on the sub. People who have been following this saga are ecstatic about Mr. Cohen's board takeover. His leadership should set the stock higher. Retards hope it forces the Infinity Squeeze.
Melvin Capital and other short sellers are in danger. Instead of covering, they continue to sell GameStop short. The supply for shares available to short is rapidly dwindling. Some brokers have less than a 1000 shares available to sell short. As the price of GameStop continues it's steady trend up, short sellers hemorrhage more and more money. December end of month share price: $19.26.
That all brings us to this week.
On Monday, Ryan Cohen announces his board members. It's him and two other people who worked with him at Chewy. The stock shoots up 10%. It's quiet on Tuesday. Then suddenly today, the stock shoots up from it's $20 open to $38.87 at it's highest today - up more than 80%.
The retards on wallstreetbets rejoice. Months of nervously waiting for this moment have paid off. Thousands and thousands of people wake up with $10,000s more than they went to sleep with. Short sellers like Melvin Capital continue to buy back stock, realizing millions of dollars in losses, sending the stock up even further. WSB celebrates, laughing at the snooty analysts and news figureheads that said such a recovery with GameStop wasn't possible. Jim Cramer, CNBC anchor and beloved autist, says that [wallstreetbets is in control] (https://old.reddit.com/r/wallstreetbets/comments/kwhxsr/whos_in_control_here_we_are/) and even joins in [bashing short sellers on twitter.] (
https://twitter.com/jimcramer/status/1349429511981592578?ref_src=twsrc^google|twcamp^serp|twgr^tweet)
The share price at today's close: $31.40, up 57.39% today alone.
Nobody knows what is going to happen now. Maybe short sellers will continue to exit their positions and drive the stock up higher. This might become the new normal for the next several days, with daily 20-40% increases as short sellers continue to buy back. Maybe this was a one off day, and the stock tanks 50% tomorrow, with mourning following today's celebration. Nobody knows. The market is a fickle mistress.
Edit:
I rarely revisit my posts, so I wanted to make an exception and say thanks. I didn't know this would be well received. I'm not the best narrator/writer and my post is FULL of grammatical errors and mistakes.
That's an interesting read. I had pegged Gamestop as totally broke and dead, but it sounds like at least the $15-20 it used to be at was totally warranted with respect to possible growth/restructure and Ryan Cohen thing.
If they want to go after someone, they really should be going after whoever was doing the naked shorts, for actually being illegal. They won't though because we now live in a country where being on the side of the party is more important than being legal.
It's win/win for the people. Either the elites take serious losses, or they reveal to everyone that the game is 100% rigged. Either outcome gets us closer to where we're going.
I still don't get how they can short over 100% of a stock.
So they borrow a bunch of stock, sell it, then reborrow it and sell it, repeat until you hit 140%?
Then if and when it drops you have to buy it, give it back then rebuy it to give it back to the next guy?
How is this even legal, just by working their way through this they drive the price of the stock in the direction they want.
You'll be surprised on what's legal and what's not. Either way, the main nail in the coffin is that Hedge funds gotten way too greedy and are now paying the ultimate price for their greed fueled mistakes.
WallStreetBets did nothing wrong.
There is no question that the Financial Establishment is your fucking enemy.
They want you broke, they want homeless, they want your wife dead, and your children raped; and they think it's funny. They also own your mortgage, pension, bank account, and credit card. Killing you is only a waste because they want all the income you will ever make in your life to pay of their financial instruments. Make no mistake. The Establishment Journos are running defense of the Institutional Investors, and those Institutional Investors are going to want to keep this kind of thing from ever happening again. Expect hyperbolic claims of cyber-terrorism being directed at Reddit. Also expect that the government will try to pass legislation to either:
TD Ameritrade is restricting the short sales on GameSpot and AMC. Further attacks are likely to follow. There is no level that the Establishment will not stoop to. Remember, Social Justice is merely a weapon that these people use.
Talk to your friends and family and pass along the information to resist this bullshit and refuse to accept the victim mentality of the most powerful people on Earth.
Here's some additional sources from Alt Media:
WON'T SOMEONE PLEASE THINK OF THE HEDGE FUND!
OUR DEBT-SLAVERY PENSIONS ARE LOCKED IN THERE!!!
The guy can declare bankruptcy and be back at it in 1 month.
Citadel is rumored to be front-running Robinhood app trades, so they'll be making money off r/wsb autists with botted high-speed trading anyway.
Wall St literally can't lose. Don't know why they're so mad.
Imagine a peasant wrestling a sabre out of a noble's hand in front of other nobles. It doesn't matter how insignificant it is, a prole rose above his station and got better off because of it. If they could make it so, heads would be rolling now.
It was always GamerGate
The exchange as a whole has "circuit breakers" which will stop trading if the market drops a certain amount in a day. I wouldn't be surprised if the platforms institute something like that on GME and AMC once people start selling and the price starts to go down.
Yeah, whenever it starts to drop there's going to be a panic of sellers trying to get out.
I haven't looked at the Reddit in question, but I'd be willing to bet they aren't making sound financial decisions themselves. I suspect there's a lot of people on that side way over leveraged and way too greedy to take profits and instead throwing more money they don't have into more shares.
Most of these people aren't trying to make money. They're sending a message. They're announcing to the whole world that brazen market manipulation is now for everyone, and the elites can't stop them without revealing to everyone just how rigged the game truly is.
Hey, we're off the charts in terms of the U.S. economy. We're on the part of the map that says, "here, there be dragons."
The people playing this game aren't doing anything that the big brains in U.S. government and the Federal Reserve haven't already done at a much larger scale.
I don't blame them they do what they want to do. Not my money or life, so not my call. I think what I was getting at is I really see this as the kind of people that are so over-leveraged that when something pops, they are pretty much bankrupt. That's what I meant by sound decisions. But again, that's just my way of doing things. As long as they don't want free shit from me when they screw up I don't care.
And yeah, the economy and particular the stock market is totally effed up. I'm usually good at evaluating stocks (at least with respect to my earning goals), but trying to find things to buy now really just leaves me with a funny look on my face.
The world economy is in full Drew Carey mode.
r/wsb is literally a meme sub where people go yolo thousands of dollars to -500%.
One guy glitched the Robinhood app to turn $2000 into -$50,000 box calls and the app admins had to ban the technique hours later.
So Robinhood were pretty salty on the sub. Then the wsb mods banned the Robinhood official account. Kek.
It's not serious investing in the slightest.
From what I've seen even when they do things that are "sound" they crank them up to 11 so that if something goes wrong it becomes a bloodbath.
Back in March there was a guy who got a $275k margin call for leveraging a 55/45 UPRO/TMF portfolio (which itself consists of triple-leveraged funds). Because something that wasn't supposed to happen -- the S&P 500 and long-term Treasuries both being down simultaneously -- happened.
Meanwhile if you just held on to that portfolio unleveraged you did pretty well for yourself last year.
Yeah that's not a bad portfolio at all as-is. I'm not into leveraging on stocks myself anyway. There's plenty of ways to increase risk/reward without buying on margin. I've just learned I'm not the gambling type. I'm still grumpy about my oil ETFs falling apart last year as it is.
They can have their crazy shit, I'll stick to boring stock trading and my real estate investments.
Anyone buying now on the hype is going to get burned and get burned hard in the long run because gamestop is probably going to plummet to below its december price of 10 dollars once this is all said and done and the panic selling ensues.
I'm actually expecting it.
Say it with me everyone
"WE CAN REMAIN IRRATIONAL FAR LONGER THAN YOU CAN REMAIN SOLVENT!!!!!!!!
I prefer the take I saw on 4chan earlier:
DIAMOND
HANDS
#WELIKETHESTOCK
#WELIKETHESTOCK
#WELIKETHESTOCK
Enemy Actions so far:
The original "Power to the Players" is still very appropriate
I can't fucking handle how happy this is making me.
-Styxhexenhammer
https://www.minds.com/newsfeed/1201311585395539968?referrer=thatyellowbastard
EDIT: LOL AND IT ACTUALLY MIGHT HAPPEN ANYWAY
Activate it.
doooo eeeet
I'm down.
And now the left and their controlled platforms are going after individuals, and are on the side of big Wall Street corporate investment. I'm just stuck with a WTF look on my face.
You shouldn't. They are useful idiots that are also foot-soldiers of the establishment.
Something of a timeline via Minds, all credit to @plasmarob
This was a RIDE
r/wallstreetbets tortures greedy short sellers out of existence (think 4chan but hiding on reddit and playing the stock market)
STORY TIME
u/TheCopyPasteLife:
Here's kinda the full story and backdrop. I wrote this like a week ago so it's a little outdated.
Take it back to March 2020. Gamestop is a dying company. Everything Gamestop did in the past can now be done online. Worse, Covid-19 is decimating physical retail. People expect Gamestop to file for bankruptcy anytime. Share price: ~$2.80.
Enter wallstreetbets, the autistic capital of the online investing world. Several users begin to go bullish on GME. They're laughed at and called retarded. Most notably, a user, u/DeepFuckingValue, who has been invested in GME for a very, very long time, reiterates his position in the stock while providing monthly updates. In [January 2020 he is down thousands of dollars (-40k).] (https://old.reddit.com/r/wallstreetbets/comments/ex040l/gme_yolo_monthend_update_jan_2020/) However, by the end of [April 2020, he's finally green (+41k).] (https://old.reddit.com/r/wallstreetbets/comments/gb3ctb/gme_yolo_monthend_update_apr_2020/) And he's just getting started. Share price EoM April: ~$5.75.
While all this is happening, hedge funds/investors have been shorting Gamestop. I won't go into the exact mechanics of shorting a stock, but what's important to know is that unlike buying a stock and making money when it goes up, in short (aka selling short and short selling) you make money when the stock goes down. Short selling is important to the story. The funds who sell short are called short sellers. The biggest short seller is Melvin Capital. Short sellers made a lot of money shorting Gamestop from $45 to $2.
IIRC, things are quiet from April end to June. GameStop stock keeps seesawin between $3 and $6.
It's near the end of August now. GameStop has made some good moves in regards to paying of their debts and taking better loans. They might have done other stuff too, I don't fucking remember. Console release hype for the new Xbox and PS are setting in.
Out of the blue, Microsoft announces a fantastic partnership with GameStop. The next couple days, GME share price rockets from $5 to $10. On WSB, the crowds is turning bullish. They're further motivated by u/DeepFuckingValue, who, in his end of September update posts his position... and he is a [FUCKING MILLIONAIRE] (https://old.reddit.com/r/wallstreetbets/comments/j2u3zn/gme_yolo_monthend_update_sep_2020/). Throughout the summer, DPV has continued to add to his GameStop position. From being 40k in the red, DPV is now 989k in the GREEN. He has taken his initial investment of ~140k and turned it into 1.4 Million. He isn't even fucking done yet.
All this while, short sellers like Melvin Capital are getting antsy. You see, short selling is far more dangerous than simply buying a stock. When you buy a stock at $1 and it goes to $10, you have made $9. If it goes to $0, you have lost $1. But you can only lose at most your initial investment. On the other hand, if you short a stock at $1, expecting it to go to $0, and it goes to $10, you have lost $9 - 9 times your initial position size. Now imagine shorting 10 million dollars worth of GameStop at $5. If it goes to $10, these short sellers OWE money to their brokers. They owe 10 million dollars.
In order to exit their shorts, short sellers have to buy back the shares from the open market. Buying raises the price of a stock - that's simple supply and demand. The problem is that these short sellers have gotten SO FUCKING GREEDY, that they've started to sell short stock that doesn't exist. This is called naked short selling. For GameStop, more than a 100% of the stock is being sold short. WSB autists theorize that the resulting buying pressure from short sellers exiting their positions will cause the share price to sky rocket. This phenomenon has a name: [Short Squeeze] (https://www.investopedia.com/terms/s/shortsqueeze.asp). It happened to Voltswagen in 2008, Tesla in Feb 2020, and the retards on WSB are hoping it's going to happen to Gamestop too.
WSB has a brilliant idea: buy shares of GME to reduce the shares available for short sellers to buy back. This buying should drive the price of GME higher, forcing the short squeeze to happen sooner. It's a positive feedback loop that's putting short sellers on suicide watch. The name of the game: the Gamestop Infinity Squeeze.
For many reasons, whether the strong bullish case from the console releases, the restructuring of corporate debt, or partnerships with company like Microsoft, the folks on WSB found reasons to buy GameStop.
And from September to November, WSB continue to buy shares of GameStop. [Some attempts at tabulating ownership] (https://old.reddit.com/r/wallstreetbets/comments/k5ociy/gme_ownership_survey_update/) show that /r/wallstreetbets owns ~4% of the company. For a billion dollar company, that's nearly 40 million dollars in shares held by the basement dwellers on WSB. Share price mid month November: 15 bucks flat.
There's a knock at the door. It's a stunningly gorgeous man. He says his name is [Ryan Cohen.] (https://specials-images.forbesimg.com/imageserve/5ffcc3658284b47415e4a523/960x0.jpg?cropX1=0&cropX2=6392&cropY1=498&cropY2=3493)
Mr. Cohen doesn't like the way GME is being run by its executives. He thinks that GameStop should transition from physical retail to ecommerce. He thinks he can run GameStop better than the shrooms already on the board of directors... and he probably can. Ryan Cohen is a smart. He founded and ran Chewy, a company that sells pet products online. He essentially went toe-to-toe with Amazon and survived, netting himself a cool 3.35 Billion when he sold it to PetSmart in 2017.
Like WSB, Mr. Cohen has been slowly been buying shares in GameStop. But it's not to trigger the Infinity Squeeze. At 10% ownership, Cohen can put people on board of directors and change GameStop in a way he see fits. Cohen begins tweeting about GameStop. [In late November, Mr. Cohen announces he has a 9.99% stake in GameStop, slightly below the controlling amount, and issues a letter demanding that GameStop begin a transition to ecommerce.] (https://www.cnbc.com/2020/11/20/former-chewy-ceo-ryan-cohen-urges-gamestop-to-become-the-amazon-of-video-games.html) The letter falls on deaf ears.
On [December 21st, Ryan Cohen discloses that he has a 12.9% stake in GameStop.] (https://www.thestreet.com/investing/ryan-cohen-chewy-13-percent-stake-gamestop) He's going to get his people onto the board and change the way GameStop is run.
At this point, the hype on /r/wallstreetbets is unparalleled. GameStop is one of the most mentioned companies on the sub. People who have been following this saga are ecstatic about Mr. Cohen's board takeover. His leadership should set the stock higher. Retards hope it forces the Infinity Squeeze.
u/DeepFuckingValue has achieved legendary status for having balls of steels and holding GameStop through thick and thin. His [December, end of Month, end of Year update puts his GameStop position at 3.2 Million dollars] (https://old.reddit.com/r/wallstreetbets/comments/kny2rx/gme_yolo_yearend_update_dec_31_2020/). He is up 1.9 Million dollars.
Melvin Capital and other short sellers are in danger. Instead of covering, they continue to sell GameStop short. The supply for shares available to short is rapidly dwindling. Some brokers have less than a 1000 shares available to sell short. As the price of GameStop continues it's steady trend up, short sellers hemorrhage more and more money. December end of month share price: $19.26.
That all brings us to this week.
On Monday, Ryan Cohen announces his board members. It's him and two other people who worked with him at Chewy. The stock shoots up 10%. It's quiet on Tuesday. Then suddenly today, the stock shoots up from it's $20 open to $38.87 at it's highest today - up more than 80%.
The retards on wallstreetbets rejoice. Months of nervously waiting for this moment have paid off. Thousands and thousands of people wake up with $10,000s more than they went to sleep with. Short sellers like Melvin Capital continue to buy back stock, realizing millions of dollars in losses, sending the stock up even further. WSB celebrates, laughing at the snooty analysts and news figureheads that said such a recovery with GameStop wasn't possible. Jim Cramer, CNBC anchor and beloved autist, says that [wallstreetbets is in control] (https://old.reddit.com/r/wallstreetbets/comments/kwhxsr/whos_in_control_here_we_are/) and even joins in [bashing short sellers on twitter.] ( https://twitter.com/jimcramer/status/1349429511981592578?ref_src=twsrc^google|twcamp^serp|twgr^tweet)
u/DeepFuckingValue posts his GME update: [5.8 Million Dollars, 2.7 of which he made today alone] (https://old.reddit.com/r/wallstreetbets/comments/kwpviw/gme_yolo_update_jan_13_2021/). He is crowned the King of the Retards.
The share price at today's close: $31.40, up 57.39% today alone.
Nobody knows what is going to happen now. Maybe short sellers will continue to exit their positions and drive the stock up higher. This might become the new normal for the next several days, with daily 20-40% increases as short sellers continue to buy back. Maybe this was a one off day, and the stock tanks 50% tomorrow, with mourning following today's celebration. Nobody knows. The market is a fickle mistress.
Edit:
I rarely revisit my posts, so I wanted to make an exception and say thanks. I didn't know this would be well received. I'm not the best narrator/writer and my post is FULL of grammatical errors and mistakes.
https://www.minds.com/newsfeed/1201031217605980160?referrer=thatyellowbastard
That's an interesting read. I had pegged Gamestop as totally broke and dead, but it sounds like at least the $15-20 it used to be at was totally warranted with respect to possible growth/restructure and Ryan Cohen thing.
If they want to go after someone, they really should be going after whoever was doing the naked shorts, for actually being illegal. They won't though because we now live in a country where being on the side of the party is more important than being legal.
There's really only one problem with your post - it ends too soon.
At close of trading on 1/27, $GME last traded at $347.51, up $199.53 today.
DeepFuckingValue's holdings at the end of December, at this price, are worth $4.5 million dollars.
Christ this is worthy of an hour long Internet Historian video.
It has to be on works. And it's going to be epic in its narration.
LARGEST
WEALTH TRANSFER
IN HISTORY
I'll fucking take it.
I really wonder how this will turn out. I can see so many people become black pilled from this if it goes the wrong way.
It's win/win for the people. Either the elites take serious losses, or they reveal to everyone that the game is 100% rigged. Either outcome gets us closer to where we're going.
I still don't get how they can short over 100% of a stock. So they borrow a bunch of stock, sell it, then reborrow it and sell it, repeat until you hit 140%?
Then if and when it drops you have to buy it, give it back then rebuy it to give it back to the next guy?
How is this even legal, just by working their way through this they drive the price of the stock in the direction they want.
You'll be surprised on what's legal and what's not. Either way, the main nail in the coffin is that Hedge funds gotten way too greedy and are now paying the ultimate price for their greed fueled mistakes.
Let the market decide.
The perennial gale of creative destruction is howling.