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Thread: r/wallstreetbets and GME

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    r/wallstreetbets and GME

    We're literally watching history unfold and probably a movie in the making

    Nothing quite like this has ever happened before

    In a David and Goliath scenario, hedge funds are literally losing BILLIONS right now (particularly Melvin Capital) all because the little guy is turning the tables and fucking them right in the ass.

    not even a month ago, GME was around $20 per share. As I am writing this, it is trading at about $330. It could go much higher tomorrow and I dont think its 100% impossible at this point to even see something ridiculous like a $1000 share price by friday. Of course any of these scenarios are going to be temporary.

    The shorts are getting squeezed HARD and there is more to come

    CNBC and other outlets even tried putting news stories out very early this morning before market open basically saying that Melvin Capital closed out their short position. However, WSB apparently detected pretty quickly that this had to have been fake news and they still had a short position.

    Other hedge funds have since swooped in with billions more to bail out Melvin.

    Point72 agreed to invest $750 million, and Citadel is investing $2 billion. Both are taking a non-controlling passive revenue share in the firm.

    Fun fact: That was MONDAY...




    Get the popcorn ready

    The squeeze is on...

    Discuss

     
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      FRANKRIZZO: wnnnnnnbc guess where from
    Last edited by Gordman; 01-27-2021 at 11:20 AM.

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    Do you have any positions? I literally have not moved from my bed since 8am other than to make 2 meals and pee.

    If you have any position, do you have diamond hands to hold AH?

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    Diamond Pro Zap_the_Fractions_Giraffe's Avatar
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    bought 67 shares at 15 dollars after Christmas, pussied out before making tens of thousands of dollars though. i am in on the AMC thing though

     
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      OSA: well done

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    Platinum nunbeater's Avatar
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    Quote Originally Posted by Zap_the_Fractions_Giraffe View Post
    bought 67 shares at 15 dollars after Christmas, pussied out before making tens of thousands of dollars though. i am in on the AMC thing though
    hey I feel like you are legit one of the most respectable members here so I am curious as to what your position is on AMC and how would a fella like me throw some money in on this shit?

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    Diamond Pro Zap_the_Fractions_Giraffe's Avatar
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    i'm a degen and i don't know shit about stocks i just bought 107 shares at 14 dollars today because i feel like it's too late to reenter GME and there are murmurs on reddit and 4chan about AMC, BB and NOK. AMC seems like the least retarded of the 3 so I just went for it. i wouldn't follow my advice or lead

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    Diamond Walter Sobchak's Avatar
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    Protip: Sell before everyone realizes how ridiculous these stock prices are and they plummet. It'll happen fast.

    SOBCHAK SECURITY 213-799-7798

    PRESIDENT JOSEPH R. BIDEN JR., THE GREAT AND POWERFUL

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    Quote Originally Posted by Walter Sobchak View Post
    Protip: Sell before everyone realizes how ridiculous these stock prices are and they plummet. It'll happen fast.

    Scared money dont make money brotha

     
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      Walter Sobchak: truth

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    Quote Originally Posted by Walter Sobchak View Post
    Protip: Sell before everyone realizes how ridiculous these stock prices are and they plummet. It'll happen fast.
    i'm prepared to just lose the 1500 i put in to AMC, got income tax returns coming idgaf

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    Diamond Walter Sobchak's Avatar
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    Ironically the crazy increase in stock price makes it more attractive to short. Apparently the total short position has actually increased slightly.

    SOBCHAK SECURITY 213-799-7798

    PRESIDENT JOSEPH R. BIDEN JR., THE GREAT AND POWERFUL

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    Master of Props Daly's Avatar
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    This isn’t the first time we have seen something like this. There was a week back in 2008 when Volkswagen was the most expensive company in the world. A few hedge funds in Europe went out of business.

    https://fantasticfacts.net/3176/

    This is only going to last through option expiration. Once the gamma stops out there is zero reason for any of these companies to be up 100x and they will crash.

    The whole thing is a point in time event.

     
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      GrenadaRoger: history rhyme rep

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    Master of Props Daly's Avatar
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    Quote Originally Posted by Walter Sobchak View Post
    Ironically the crazy increase in stock price makes it more attractive to short. Apparently the total short position has actually increased slightly.
    Obviously different story being short from $20 and $330.

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    Quote Originally Posted by Daly View Post
    This isn’t the first time we have seen something like this. There was a week back in 2008 when Volkswagen was the most expensive company in the world. A few hedge funds in Europe went out of business.

    https://fantasticfacts.net/3176/

    This is only going to last through option expiration. Once the gamma stops out there is zero reason for any of these companies to be up 100x and they will crash.

    The whole thing is a point in time event.

    So you're saying Friday is when the guillotine falls?

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    Master of Props Daly's Avatar
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    The crazy thing about $GME isn't that it's currently trading over $300 per share it's when you try to sell it and you get $9 in-store credit.

     
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      nunbeater: lol
      
      Walter Sobchak: will you be here all week?
      
      Gordman: Badum Tssssss
      
      gimmick:

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    Quote Originally Posted by Walter Sobchak View Post
    Ironically the crazy increase in stock price makes it more attractive to short. Apparently the total short position has actually increased slightly.

    You dont want to be shorting this right now IMO. You dont know how much higher it will climb before it inevitably drops. If anything maybe a small position on some longer term puts, but I wouldnt be shorting the actual stock, or you would be caught with your pants down when you are left having to cover.

    Aldo, who knows if you would even be able to right now. Many brokerages took away traders ability to short today; i dont know how long that will go on.


    This is a unique situation.

    The short interest is around 140%, which is fucking ridiculous and should be fucking illegal to begin with. How is it even allowed that people can short more shares than are actually even available?! So ridiculous. I bet you the regulations will change on this sooner or later.

    As i mentioned earlier, CNBC and other crooked outlets straight up lied this morning for Melvin saying they were out of their short position. This one area where the SEC should be investigating.

    This is short interest updated as of today:


    Name:  0qwv5cjtivd61.jpg
Views: 484
Size:  99.7 KB

    Notice that nothing changed much, so unless im really missing something, there's your proof that they lied


    I could be wrong, but the way I see it, If that short interest is truly correct, you could see this price blast off into outer space before it comes falling back down.


    Tread lightly

     
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      Belly Buster: S̶h̶u̶t̶ ̶i̶t̶ ̶d̶o̶w̶n̶ ̶G̶o̶r̶d̶o̶ Good content

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    Quote Originally Posted by Gordman View Post
    Quote Originally Posted by Walter Sobchak View Post
    Ironically the crazy increase in stock price makes it more attractive to short. Apparently the total short position has actually increased slightly.

    You dont want to be shorting this right now IMO. You dont know how much higher it will climb before it inevitably drops. If anything maybe a small position on some longer term puts, but I wouldnt be shorting the actual stock, or you would be caught with your pants down when you are left having to cover.

    Aldo, who knows if you would even be able to right now. Many brokerages took away traders ability to short today; i dont know how long that will go on.


    This is a unique situation.

    The short interest is around 140%, which is fucking ridiculous and should be fucking illegal to begin with. How is it even allowed that people can short more shares than are actually even available?! So ridiculous. I bet you the regulations will change on this sooner or later.

    As i mentioned earlier, CNBC and other crooked outlets straight up lied this morning for Melvin saying they were out of their short position. This one area where the SEC should be investigating.

    This is short interest updated as of today:


    Name:  0qwv5cjtivd61.jpg
Views: 484
Size:  99.7 KB

    Notice that nothing changed much, so unless im really missing something, there's your proof that they lied


    I could be wrong, but the way I see it, If that short interest is truly correct, you could see this price blast off into outer space before it comes falling back down.


    Tread lightly
    And apparently the rich billionares are now getting help from their buddies at TD Ameritrade and some other brokers by blocking trades.. This is some serious bullshit supposedly in the name of protecting clients... Yeah not the avg joe blow investor but the billions held by hedge funds who are getting fucked up the ass.. BTW.. Lets just say I bought call options for the $100 strike price Monday (exp 2/19) roflmao.. I more then doubled my account on that trade which I put in a sell order to dump them when they were at $120 each.. Market opened this morning the options were worth $220 each and were sold for a profit of....... $1 million dollars (Dr Evil laugh).. ok no it wasnt that much but lets just say it was a significant profit on the trade..

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    Diamond Walter Sobchak's Avatar
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    Did CNBC say he WAS out of his short position, or that he SAID he was out of his short position? The difference is who is doing the lying. You'd think CNBC would be smart enough not to outright lie but who knows. You can be wrong a million times and nothing will happen, but lie once and you open up the possibility of federal pound me in the ass prison.

    It's down over 12% in after-hours trading. Has no predictive value, but is a good reminder to be careful.

    SOBCHAK SECURITY 213-799-7798

    PRESIDENT JOSEPH R. BIDEN JR., THE GREAT AND POWERFUL

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    Quote Originally Posted by Walter Sobchak View Post
    Did CNBC say he WAS out of his short position, or that he SAID he was out of his short position? The difference is who is doing the lying. You'd think CNBC would be smart enough not to outright lie but who knows. You can be wrong a million times and nothing will happen, but lie once and you open up the possibility of federal pound me in the ass prison.

    It's down over 12% in after-hours trading. Has no predictive value, but is a good reminder to be careful.

    Most likely he sold his position to someone else with deeper pockets most likely. I mean Citron buys RH's order flow supposedly so they were all parties to this. Just seems like Melvin got the raw end of the deal

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    Quote Originally Posted by Walter Sobchak View Post
    Did CNBC say he WAS out of his short position, or that he SAID he was out of his short position? The difference is who is doing the lying. You'd think CNBC would be smart enough not to outright lie but who knows. You can be wrong a million times and nothing will happen, but lie once and you open up the possibility of federal pound me in the ass prison.

    It's down over 12% in after-hours trading. Has no predictive value, but is a good reminder to be careful.

    Here is a press release from early this morning that should answer your question.

    https://www.cnbc.com/2021/01/27/hedg...n-tuesday.html

    According to this article, the fund manager told CNBC, however I find it kind of telling that CNBC (and others) did not step back during the day and take another look at the situation (at least I didnt see anything). The only thing I saw at different times ive viewed today was the media pissing all over wsb and the retail traders like they are doing something wrong.
    The general vibe was:

    its "irresponsible"...

    "shouldnt be allowed to happen"...

    "they are unsophisticated and dont know what they are doing"...

    Which is pretty fucking laughably ironic considering that an internet message board was able to make huge hedge funds with "professionals" lose BILLIONS...with a B.

    If it wasnt so sad, it would be hilarious how much some of the media is shilling for the big boys.


    I wish someone could explain to me how WSB et al is somehow doing something wrong...unethical...or whatever they want to label it as...

    ...but somehow multi-billion dollar hedge funds are just fine when they are behaving irresponsibly shorting a company with positions so large that some of shares literally dont even exist.

    And to top it off?

    Doing it to a company that emloys thousands of people...all during a global pandemic

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    Diamond Walter Sobchak's Avatar
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    Quote Originally Posted by Gordman View Post
    Quote Originally Posted by Walter Sobchak View Post
    Did CNBC say he WAS out of his short position, or that he SAID he was out of his short position? The difference is who is doing the lying. You'd think CNBC would be smart enough not to outright lie but who knows. You can be wrong a million times and nothing will happen, but lie once and you open up the possibility of federal pound me in the ass prison.

    It's down over 12% in after-hours trading. Has no predictive value, but is a good reminder to be careful.

    Here is a press release from early this morning that should answer your question.

    https://www.cnbc.com/2021/01/27/hedg...n-tuesday.html

    According to this article, the fund manager told CNBC, however I find it kind of telling that CNBC (and others) did not step back during the day and take another look at the situation (at least I didnt see anything). The only thing I saw at different times ive viewed today was the media pissing all over wsb and the retail traders like they are doing something wrong.
    The general vibe was:

    its "irresponsible"...

    "shouldnt be allowed to happen"...

    "they are unsophisticated and dont know what they are doing"...

    Which is pretty fucking laughably ironic considering that an internet message board was able to make huge hedge funds with "professionals" lose BILLIONS...with a B.

    If it wasnt so sad, it would be hilarious how much some of the media is shilling for the big boys.


    I wish someone could explain to me how WSB et al is somehow doing something wrong...unethical...or whatever they want to label it as...

    ...but somehow multi-billion dollar hedge funds are just fine when they are behaving irresponsibly shorting a company with positions so large that some of shares literally dont even exist.

    And to top it off?

    Doing it to a company that emloys thousands of people...all during a global pandemic
    I couldn't agree more, but this is the reality of the markets. The big boys very rarely lose and almost always get what they want. They don't play by the same rules as everyone else. And when they fuck up someone will be there to save them, last resort being the government. It's socialism for the 1% and capitalism for everyone else. And they have zero self-awareness or moral compass so they will go on TV to whine about how unfairly they are being treated.

     
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      Gordman: this
      
      MumblesBadly: Spot on

    SOBCHAK SECURITY 213-799-7798

    PRESIDENT JOSEPH R. BIDEN JR., THE GREAT AND POWERFUL

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    I would wager that the big boys are doing everything humanly possible to see to it that everything goes their way tomorrow. I imagine movie scene-like scenarios from flicks like Margin Call/The Big Short have been playing out all day today and are probably playing out right now as we speak. I'm not joking...i think is turning into some unimaginable serious shit for them - not even just for GME, but for others in the future. They want to spank the little guy hard and let them know that this isn't ok (to them) and hopefully discourage them from trying this shit on them in the future, because otherwise this is a gamechanger. They are calling in all of their favors and assembling their army. The big question is, who is going to win the battle.

    My unprofessional take in regards to the after hours drop in price - In a nutshell, after hours pricing can be easily manipulated by the big boys imo. Funds can sell much smaller amounts than normal to tip prices whichever direction they want them to go...in this case - down; I'm sure they are implementing FUD to get people to sell. Also they could be trying to trigger any stop-losses that might be sitting out there. They will do anything possible to get people to cash in their gains and sell tomorrow.
    Anyone feel free to expand on this or correct me - I'm getting kind of preoccupied here.

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