GameStop, Reddit and Wallstreet

Anchorpunch

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Nov 29, 2014
I don't know if that's 100% analogous only because DvDs and cash are somewhat more material, actionable, and accessible items concerning their ability to be traded. But I don't decry stock holders who lend shares. Shorting is risk and I see new reason to absolve risk because a previously unthought of method increased it. Or restored it.
There's a lower transaction cost to "trading" cash but it's still only valuable because someone backing it says it is. Your stock is legitimate ownership of a company and is worth what it is because of the perceived value of the company. Point being, I think you're being too generous with you notion of cash being a real thing unlike stocks.
 

ILJO

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Aug 27, 2008
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The Streets!
If only my dad would give me a small loan of a million dollars.
You know a milli is not that much these days. I got a coworker sitting on 2M in Bitcoin and one day I asked if he could buy me a drink from the vending machine as I had forgotten my wallet, and he said "I need to know when you are going to pay me back" :rofl: . No joke.

I did of course immediately say I would pay him back as soon as I asked him to get it for me, but I assumed he would brush it off like most people and say don't worry about it. But that motherfucker was dead ass serious about getting his dollar back.
 

disposableassassin

Mutatis Mutandis
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A vending machine
You know a milli is not that much these days. I got a coworker sitting on 2M in Bitcoin and one day I asked if he could buy me a drink from the vending machine as I had forgotten my wallet, and he said "I need to know when you are going to pay me back" :rofl: . No joke.

I did of course immediately say I would pay him back as soon as I asked him to get it for me, but I assumed he would brush it off like most people and say don't worry about it. But that motherfucker was dead ass serious about getting his dollar back.
Hell he was probably sitting there adding up the potential interest hahaha

Some people man. Some people.
 

Tapout

Bringing Sexy Back
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Los Angeles via Chicago
I went to get some Dogecoin last night, and it’s not on Coinbase...and fucking Robin Hood took away the ability to invest in crypto with instant cash because of game stop. What a horseshit app. I hope they lose everything.
 

Rise

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Joined
Dec 3, 2014
You shouldn’t be able to “borrow” stock. You should either buy stock or sell stock but the notion of borrowing it to buy it later seems asinine to me.

What happens when GameStop stock value returns to normal? This won’t go on forever, GameStop will continue to struggle to keep their doors open. It’s a false balloon in value.
That's what I'm wondering Gamestop lost 1.6 billion last year and their revenue is consistently decreasing year over year (almost 30% drop last year). The hedge funds are going to take the big hit of course but anyone that is buying it up could take a good hit if they don't get out fast as well. Long term losers will be the people the stocks were borrowed from in the first place though.
 

Kevo

SMOKE BOMB!
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Feb 1, 2010
Location
Evanston
I went to get some Dogecoin last night, and it’s not on Coinbase...and fucking Robin Hood took away the ability to invest in crypto with instant cash because of game stop. What a horseshit app. I hope they lose everything.
I got some through robinhood. I own 437. And like .00002 bitcoin lol
 

m1ckey kn0x

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Feb 2, 2011
I went to get some Dogecoin last night, and it’s not on Coinbase...and fucking Robin Hood took away the ability to invest in crypto with instant cash because of game stop. What a horseshit app. I hope they lose everything.
Fuck robinhood. Once this shit is over, however it goes, I’m closing my account and deleting that shit forever. I hope something actually comes of all the lawsuits against them but in this world, I doubt it. They will get a slap on the wrist and go back to deciding which yacht to take out for the weekend.
 

GingerPowerBottom

mortality, ka, and the Tower
Joined
Nov 25, 2011
I don’t care to really know, or understand, what’s going on but found this funny:

“These hedge fund CEOs who lost billions need help.

I suggest $600.” Taken from the book of faces.
 

m1ckey kn0x

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Feb 2, 2011
I can understand if I was in their shoes. I mean they only got a few trillion split up by the whole lot of them. Not like they each got their own trillion. Life isn’t easy. Especially having to share the country with all us working class filthy peasants.
 

sourdough

Sourdough
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Apr 30, 2009
I can understand if I was in their shoes. I mean they only got a few trillion split up by the whole lot of them. Not like they each got their own trillion. Life isn’t easy. Especially having to share the country with all us working class filthy peasants.
If a couple hedge funds go broke at least the rest of the money other hedge funds money have will trickle down to them eventually
 
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Goremire

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Sep 16, 2012
I think this whole situation is just glorious. I've been engrossed in this whole mess for a couple of weeks now.

There is so much rich comedic material here but the one that sticks out is Wall Street's bumbling attempts to shift the narrative on Reddit and Reddit just keeps humiliating them whenever they try. Like this whole silver nonsense which is a pathetically transparent attempt to divide the GME gang.

Hedge fund raises a whole army of bot accounts to spread disinformation about how now is the time to sell GME and buy silver? That's fine - Reddit will screenshot their user details showing the account is less than 24 hours old and spammed the exact same comment 400 times across different subs in less than a minute.

Hedgies sell the same stock bundle to each other at ever decreasing amounts to try and push the price down and trigger panic buying? (known as a 'ladder attack') No problem, a redditor will just post the trade volume in a screenshot showing that its a quarter of what it normally is, meaning no panic buying is taking place.

But the one that really hits home how little Wall Street understands their opponent is the Hate Holders. These guys went in when the price was $150-$350 a share for as much as they could afford and they're posting shit like "This money is GONE I will never see a DIME from it, my goddamn GRANDKIDS WILL INHERIT THIS STOCK I will never EVER sell because every single second I hold it my buddies make more bank and the hedge funds bleed just a little bit more SEE YOU IN VALHALLA!!!" and that's honestly so fucking amazing and brave.

I've heard financial pundits in their $3000 dollar suits with their rugged jawlines and perfect coiffes concern trolling about how "The average Joe is gonna be left holding the bag!" Like no shit dum-dum, they know exactly what is going to happen, they are in fact VOLUNTEERING to hold the bag, fully aware, eyes wide open because the money doesn't matter to them, they want to hate fuck you and this is the closest they're ever going to get to doing it.

They waited for YEARS for Wall Street to be held accountable for the carnage in '08 only for Saint Obama to let them off the hook and tell the world that "no crimes have been committed." They've waited for months for stimulus cheques that haven't come. And in one fell swoop the perfect storm was created for average people to right both of these wrongs through communication, teamwork and guts and its just fucking incredible and great.

Can you imagine a hedge fund offering to jump on a live grenade to save the market? Of course they wouldn't. And that's why theyre losing. These money worshipping parasites with THOUSANDS OF YEARS combined financial and market knowledge are getting outmanouvered by a gang of plucky losers who grew up on MMOs and MMA and understand two things: the power of online co-operation and assymetric matchups.

It wouldn't occur to any of these Armani wearing fuck sticks to be anything other than a DPS character in an MMO. Never mind that a DPS character is screwed without tanks, healers and crowd control to do their thing.

These fuckos probably watched Khabib drop McGregor and drew the conclusion that Khabib was the better stand up fighter - never mind that Khabib could only do that because McGregor couldn't use 80% of his stand up game due to Khabibs takedown threat.

Our generation watched Matt Hughes learn just enough BJJ to negate his weaknesses and protect his strengths so he could beat Royce Gracie on the ground.

So when I hear these media fucks talk about redditors being clueless and being taken advantage of, and too ignorant and inexperienced to trade properly I just laugh.

They don't need to know how the ENTIRE market works - just this specific situation! They don't need to have a deep understanding of how shorts work to understand "Me hold good for me, bad for you!" right now. They have just enough knowledge (which has been given to them by people who DO understand all of it works and have gladly shared for mutual benefit) and that is MORE THAN ENOUGH to fucking Bury these hedge funds.

From most of the accounts I've read this week is gonna be SPICY by Friday so grab your popcorn and buckle up.
 

Kano

My New Challenge
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Dec 3, 2014
Location
Icebox of the Nation
I think this whole situation is just glorious. I've been engrossed in this whole mess for a couple of weeks now.

There is so much rich comedic material here but the one that sticks out is Wall Street's bumbling attempts to shift the narrative on Reddit and Reddit just keeps humiliating them whenever they try. Like this whole silver nonsense which is a pathetically transparent attempt to divide the GME gang.

Hedge fund raises a whole army of bot accounts to spread disinformation about how now is the time to sell GME and buy silver? That's fine - Reddit will screenshot their user details showing the account is less than 24 hours old and spammed the exact same comment 400 times across different subs in less than a minute.

Hedgies sell the same stock bundle to each other at ever decreasing amounts to try and push the price down and trigger panic buying? (known as a 'ladder attack') No problem, a redditor will just post the trade volume in a screenshot showing that its a quarter of what it normally is, meaning no panic buying is taking place.

But the one that really hits home how little Wall Street understands their opponent is the Hate Holders. These guys went in when the price was $150-$350 a share for as much as they could afford and they're posting shit like "This money is GONE I will never see a DIME from it, my goddamn GRANDKIDS WILL INHERIT THIS STOCK I will never EVER sell because every single second I hold it my buddies make more bank and the hedge funds bleed just a little bit more SEE YOU IN VALHALLA!!!" and that's honestly so fucking amazing and brave.

I've heard financial pundits in their $3000 dollar suits with their rugged jawlines and perfect coiffes concern trolling about how "The average Joe is gonna be left holding the bag!" Like no shit dum-dum, they know exactly what is going to happen, they are in fact VOLUNTEERING to hold the bag, fully aware, eyes wide open because the money doesn't matter to them, they want to hate fuck you and this is the closest they're ever going to get to doing it.

They waited for YEARS for Wall Street to be held accountable for the carnage in '08 only for Saint Obama to let them off the hook and tell the world that "no crimes have been committed." They've waited for months for stimulus cheques that haven't come. And in one fell swoop the perfect storm was created for average people to right both of these wrongs through communication, teamwork and guts and its just fucking incredible and great.

Can you imagine a hedge fund offering to jump on a live grenade to save the market? Of course they wouldn't. And that's why theyre losing. These money worshipping parasites with THOUSANDS OF YEARS combined financial and market knowledge are getting outmanouvered by a gang of plucky losers who grew up on MMOs and MMA and understand two things: the power of online co-operation and assymetric matchups.

It wouldn't occur to any of these Armani wearing fuck sticks to be anything other than a DPS character in an MMO. Never mind that a DPS character is screwed without tanks, healers and crowd control to do their thing.

These fuckos probably watched Khabib drop McGregor and drew the conclusion that Khabib was the better stand up fighter - never mind that Khabib could only do that because McGregor couldn't use 80% of his stand up game due to Khabibs takedown threat.

Our generation watched Matt Hughes learn just enough BJJ to negate his weaknesses and protect his strengths so he could beat Royce Gracie on the ground.

So when I hear these media fucks talk about redditors being clueless and being taken advantage of, and too ignorant and inexperienced to trade properly I just laugh.

They don't need to know how the ENTIRE market works - just this specific situation! They don't need to have a deep understanding of how shorts work to understand "Me hold good for me, bad for you!" right now. They have just enough knowledge (which has been given to them by people who DO understand all of it works and have gladly shared for mutual benefit) and that is MORE THAN ENOUGH to fucking Bury these hedge funds.

From most of the accounts I've read this week is gonna be SPICY by Friday so grab your popcorn and buckle up.
Love that post.
I disagree with one thing.
Conor having better stand up than Khabib. Khabib would beat Conor in a 10 round boxing match.
 

Anchorpunch

Well-Known Member
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Joined
Nov 29, 2014
Worth repeating that your ire should be, especially as it pertains to 08, at banks not hedge funds. Funds can go out of business and were betting against a lot of the mortgage stuff. Banks are government backed enablers and the worst of corporatism.

That said, the ghoulishness of betting on companies to go out of business is something that deserves ire too. I'm glad short selling now has this assumed risk (read: cost) baked into it.
 

Dimson

Your tears don't fall...
Joined
Aug 28, 2008
Anyone investing in AMC or GameStop? Or even in Dogecoin?
 

Dimson

Your tears don't fall...
Joined
Aug 28, 2008
I got AMC and Dogecoin, both are tanking.
From the Facebook and reddit groups I am in, AMC isn't tanking, it is just market manipulation by the hedge funds dropping stock. But they know a lot more about it than me, lol.
 

m1ckey kn0x

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Joined
Feb 2, 2011
Blood is everywhere and I’m just enjoying the show. I love the union this has created between people of all kinds.

I watched American Psycho last night, too.
 

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I hate these filthy neutrals Kif. With enemies you know where you stand, but with neutrals? Who knows.

It sickens me.
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Two weeks down of my new job. Glad it’s Friday. Hope all you guys are well.

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