r/wallstreetbets and GME

[Gordman]

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

[OSA]

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?

[Zap_the_Fractions_Giraffe]

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

[nunbeater]

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?

[Zap_the_Fractions_Giraffe]

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

[Walter Sobchak]

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

[desertrunner]

[Dan Druff]

This shows you how incompetent the Biden Administration really is, and how literally everything with Democrats these days is wrapped up in identity politics:




Jen Psaki's first answer about the Gamestop situation is to "repeat that we have our first female treasury secretary".

What?!

Why does this matter?

Then she pretty much ignores the question and rants about COVID relief.

Great job!

[Walter Sobchak]

This shows you how incompetent the Biden Administration really is, and how literally everything with Democrats these days is wrapped up in identity politics:




Jen Psaki's first answer about the Gamestop situation is to "repeat that we have our first female treasury secretary".

What?!

Why does this matter?

Then she pretty much ignores the question and rants about COVID relief.

Great job!

This is a dumb answer, but it's standard procedure to take whatever question they ask you and turn it into something you want to say and point that day's talking point rather than giving an actual answer. This goes double for when there's anything technical about the question, because the press secretary usually has no idea what is going to be done about it.

Every press secretary does this, Trump's secretaries did, Obama's did, every one of them that I can remember did. It's more or less the job description.

[mickeycrimm]

Fox News has been on this story solid for two days. Dave Portnoy is naming people and saying fines won't work, they have to go to jail.

[GrenadaRoger]

Fox News has been on this story solid for two days. Dave Portnoy is naming people and saying fines won't work, they have to go to jail.

thanks for passing that along...i don't watch Fox News anymore; its too left wing for me so occasionally i miss out some interesting stories.