Poll of the Day > GameStops stock price surge is a great example of coming together and positivity

(+) Yeah! (+)

TheSlinja posted...

why are yiu talking like robinhood was the only app to freeze buys, a bunch of them did, its very clearly deliberate

We all know this, but listing the entire run of companies involved in this every time we mention the issue at hand is like parading all of the gender pronouns out at once.

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LuciferSage posted...

We all know this, but listing the entire run of companies involved in this every time we mention the issue at hand is like parading all of the gender pronouns out at once.

im reffering specifically to the headass who keeps trying to say that robinhood was acting alone and not in the intrest of the hedge fund that obviously told them and a bunch of other apps to freeze

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TheSlinja posted...

im reffering specifically to the headass who keeps trying to say that robinhood was acting alone and not in the intrest of the hedge fund that obviously told them and a bunch of other apps to freeze

But like...we both know there's an interlocking chain of corporate interests 6 levels deep that are choking on crow right now.

This is the sort of shit that had brokers free falling and taste testing lead in '29...

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I'm talking about reruns revenge dude

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TheSlinja posted...

I'm talking about reruns revenge dude

I'm already convinced that's a benji alt playing dumb to muddy the waters.

If it isn't, the net result would be the same anyway.

"I'm just asking questions..."

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i only made $100k out of this, but i came in late, ok?

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https://www.forbes.com/sites/johntamny/2021/01/28/ignore-the-populist-gamestop-hype-short-sellers-are-heroes/

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Bitch

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I never really wish absolute ruin on many people, but the stock market and the whole "freer the market" scam needed to be stopped. Everyone fucking over Wall St right now is doing god's work.

Blightzkrieg posted...

https://www.forbes.com/sites/johntamny/2021/01/28/ignore-the-populist-gamestop-hype-short-sellers-are-heroes/

Forbes defending predatory investors? Color me shocked!

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Blightzkrieg posted...

https://www.forbes.com/sites/johntamny/2021/01/28/ignore-the-populist-gamestop-hype-short-sellers-are-heroes/

wow I wonder if they're invested in this somehow

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https://i.imgur.com/720JJCV.mp4

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Mead posted...

https://i.imgur.com/720JJCV.mp4

Lol.

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https://www.wsj.com/articles/keith-gill-drove-the-gamestop-reddit-mania-he-talked-to-the-journal-11611931696

What a shock. It wasn't about getting back at the hedge funds.

https://markets.businessinsider.com/news/stocks/gamestop-investor-deepfuckingvalue-roaring-kitty-reddit-stocks-wall-street-2021-1-1030022004

He just wanted to make his own investment go up in price.
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Revelation34 posted...

https://www.wsj.com/articles/keith-gill-drove-the-gamestop-reddit-mania-he-talked-to-the-journal-11611931696

What a shock. It wasn't about getting back at the hedge funds.

https://markets.businessinsider.com/news/stocks/gamestop-investor-deepfuckingvalue-roaring-kitty-reddit-stocks-wall-street-2021-1-1030022004

He just wanted to make his own investment go up in price.

Gasp! You mean a financial advisor from the investment industry manipulated a bunch of tiny retail investors to gamble their money to benefit his own position? Impossible! This is regular people vs. "wall street" and "hedge funds"!

And gasp! Robinhood had to borrow $500 million and get another $1 billion cash infusion from investors within the last couple of days to stay solvent and limited trading until it fixed its liquidity crisis? Impossible! It was "wall street" and "hedge funds" that forced robinhood to do that!

https://www.wsj.com/articles/robinhood-raises-1-billion-to-meet-surging-cash-demands-11611928504

reruns_revenge posted...

Gasp! You mean a financial advisor from the investment industry manipulated a bunch of tiny retail investors to gamble their money to benefit his own position? Impossible! This is regular people vs. "wall street" and "hedge funds"!

And gasp! Robinhood had to borrow $500 million and get another $1 billion cash infusion from investors within the last couple of days to stay solvent and limited trading until it fixed its liquidity crisis? Impossible! It was "wall street" and "hedge funds" that forced robinhood to do that!

https://www.wsj.com/articles/robinhood-raises-1-billion-to-meet-surging-cash-demands-11611928504

He works in the insurance industry. Not an investment industry. My point was people were only doing it for their own self interest.
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of course people were doing it to make money
fucking hedge funds over was always a nice treat
no one thought they were doing it for the good of their heart and were gonna give all the money to charity or something
people just want to make money too

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That's why I'm kinda mad ish about it, even though I have nothing invested in this.

If it was just a bunch of internet people crashing a stock for no reason that'd be dumb, but the correct and profitable course when someone is short selling IS to buy up... anyone who has used an MMO auction house can attest to this, if someone undercuts by even a tiny bit they'll get gobbled up and reposted.

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The outcome is positive, but I think it's more accurate to label this situation as how people of all backgrounds and situations can come together when united by their hatred of "single" enemy.

It's a lot easier to get people to be unified against a common enemy than it is for something without a clear enemy.
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Revelation34 posted...

He works in the insurance industry. Not an investment industry. My point was people were only doing it for their own self interest.

Mass Mutual is part of the investment industry. Many large insurance companies are. They do more than just issue insurance policies, but even whole life insurance policies are basically investment vehicles. Look it up. Mass Mutual even owned a feeder fund that sent investments to Madoff and got sued for billions. There is a reason he had the FA designation, and it's not because he was giving grandma a $50k term life policy. He knew what he was doing when orchestrating this. It's just a different iteration of a pump and dump. A bit smarter because you have the extra fuel of a short squeeze and retail investors that are easier to dupe by harnessing their collective outrage for profit. This thread is a good example of how many people are willing to buy it. That was my point.

But this is a fluke because GS stock price just 2 years ago was only like $6 bucks.

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BUMPED2002 posted...

But this is a fluke because GS stock price just 2 years ago was only like $6 bucks.

And he rallied people just to drive the price up so his investment would pay off.
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It's a shame Sears/TransformCo isn't on the market any more. The short sellers ruined Sears pushing it down to $4 a share a few years ago when it was pushed down from $40/share by short selling hedge fund cocksuckers. The kind of cocksuckers Fast Eddie courted...

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I bought some $GME I fully intend to lose.

Hedge funds never should have recklessly gambled with other people's money to this extent. That's on them. Fuck em.

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I'm not buying any now but it seems wild that it has stabilized around 300 the last couple days. Very original thought but damn I wish I knew about this "meme" when it was at 20 a share.

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Gamestop has been tanking. $81 a share now.

I don't know what the future holds. Maybe it goes up again, I don't know. But the mantra of "hold, hold, hold" always sounded dumb because the best time to stop holding is whenever YOU feel comfortable. Not to piss of investors, bankers, and hedge fund assholes. Because if you lost a lot of money on this, does it really matter a small handful of hedge fund guys stand to lose money, when you also lost a ton? Besides, other hedge fund guys not in on shorting GME likely made bank at the same time.

However, I am no expert, and things could change, I guess when it's time for the shorts to actually be dealt with.

But it is tempting to see how low it goes and maybe make a small entry into it, just in case it does explode like people say it can do still.

Well, GME seems to be rallying right now, up to 115

I bought another for the lulz

Best entertainment I've had all pandemic. Worth it.

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I bought 5 shares at $84.50, I feel so included now!

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I wonder where this rally is coming from? I thought the stock would essentially plunge like a stone today. I am surprised to see it in the hundreds again.

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This is all the stupidest crap, and it just makes me feel like I've finally become an old man/outgrown my youth, because I don't understand or care about any of it

argonautweakend posted...

Gamestop has been tanking. $81 a share now.

I don't know what the future holds. Maybe it goes up again, I don't know. But the mantra of "hold, hold, hold" always sounded dumb because the best time to stop holding is whenever YOU feel comfortable. Not to piss of investors, bankers, and hedge fund assholes. Because if you lost a lot of money on this, does it really matter a small handful of hedge fund guys stand to lose money, when you also lost a ton? Besides, other hedge fund guys not in on shorting GME likely made bank at the same time.

However, I am no expert, and things could change, I guess when it's time for the shorts to actually be dealt with.

But it is tempting to see how low it goes and maybe make a small entry into it, just in case it does explode like people say it can do still.

The fundamental misconception is that this is a money making venture. It's not. It's like entering a Nascar race with a boat and then flooding the track with warm Nutella.

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DragonClaw01 posted...

I wonder where this rally is coming from? I thought the stock would essentially plunge like a stone today. I am surprised to see it in the hundreds again.

Mark Cuban on r/WSB telling an audience of millions to HOLD

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I trust Mark Cuban moreso then redditors(even the admins or w/e of WSB).

I should have got in at 80 bucks, but I had no idea it'd rebound. I think signing up for an app and buying 1-3 shares of gme just to see what happens(money i can lose if thats what ends up going on) might be alright.

Anyone understand how puts work?
I thought they were a "safer" method to bet against a stock, where at worst, you don't execute a trade and lose the fee you paid.
Robinhood is making it seem to be more like a short (the really dangerous tactic where you can lose big, like the hedge funds have)...
I'm randomly seeing puts available for a fee of $0.01 (yes, really) with a strike price of $90 or $45 or whatever (keeps changing) so it's like...ok, I can drop $10 on that. If I lose the $10, no biggie.
But then when I go to buy the options, it demands a "limit price" within a certain range, and if I choose like $50, now it says my max cost is $50,000. Huh? I thought limit price was supposed to be a automatic sell point or something, not what I'm paying per stock...

streamofthesky posted...

Anyone understand how puts work?
I thought they were a "safer" method to bet against a stock, where at worst, you don't execute a trade and lose the fee you paid.
Robinhood is making it seem to be more like a short (the really dangerous tactic where you can lose big, like the hedge funds have)...
I'm randomly seeing puts available for a fee of $0.01 (yes, really) with a strike price of $90 or $45 or whatever (keeps changing) so it's like...ok, I can drop $10 on that. If I lose the $10, no biggie.
But then when I go to buy the options, it demands a "limit price" within a certain range, and if I choose like $50, now it says my max cost is $50,000. Huh? I thought limit price was supposed to be a automatic sell point or something, not what I'm paying per stock...

rip

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But I have no idea, my opinion is don't click buttons if you don't know how it works lol

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> Put options are in the money when the stock price is below the strike price at expiration. The put owner may exercise the option, selling the stock at the strike price. Or the owner can sell the put option to another buyer at fair market value.
>
> If the stock price is above the strike price at expiration, the put is out of the money and expires worthless. The put seller keeps any premium received for the option.

Sounds like you're betting the market price to be lower than the strike price at expiration and whatever the premium is could be the money you lose it it goes above and they're worthless?

https://www.bankrate.com/investing/what-are-put-options-learn-basics-buying-selling/

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So....... what was the effect of this GameStop bump on GameStop itself?

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Nothing. It still is going to die.

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DragonClaw01 posted...

Nothing. It still is going to die.

wuuut, stock prices aren't a reflection of a product's success? that's not very sensible

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DragonClaw01 posted...

Nothing. It still is going to die.

You know the short price that companies were expecting to pay was somewhere in the $5 and $10 per share range, right?
Even if it hits $50 they'll still be fucked.

grimhilde00 posted...

But I have no idea, my opinion is don't click buttons if you don't know how it works lol

I thought I did know how it worked, lol

grimhilde00 posted...

> Put options are in the money when the stock price is below the strike price at expiration. The put owner may exercise the option, selling the stock at the strike price. Or the owner can sell the put option to another buyer at fair market value.
>
> If the stock price is above the strike price at expiration, the put is out of the money and expires worthless. The put seller keeps any premium received for the option.

Yup, that's how I understood it. As the put buyer, I pay the fee no matter what, and either the option expires worthless or I cash in once it's somewhere below the break even price (strike price - fee) and make some money.

Sounds like you're betting the market price to be lower than the strike price at expiration and whatever the premium is could be the money you lose it it goes above and they're worthless?

https://www.bankrate.com/investing/what-are-put-options-learn-basics-buying-selling/

Yeah, I was trying to bet that a month, 3 months, 6 months, whatever from now (tried all different expiration dates), the stock price would be much lower. Like, strike prices of $40 or higher, seems pretty safe. And when the fee is almost $0, there's very little risk.
But then I try to buy put options and it makes me fill in that limit price field and then tells me the max price is # of shares x the limit price.
Makes no sense...I'm not buying at that limit price, I'm selling... Why would I be on the hook for that much?

Oh well, I only put $10 in my Robinhood wallet and it literally won't let me buy the puts b/c my wallet isn't big enough, so nothing's been lost. Mostly just annoyed at how arcane this is.

argonautweakend posted...

Gamestop has been tanking. $81 a share now.

I don't know what the future holds. Maybe it goes up again, I don't know. But the mantra of "hold, hold, hold" always sounded dumb because the best time to stop holding is whenever YOU feel comfortable. Not to piss of investors, bankers, and hedge fund assholes. Because if you lost a lot of money on this, does it really matter a small handful of hedge fund guys stand to lose money, when you also lost a ton? Besides, other hedge fund guys not in on shorting GME likely made bank at the same time.

However, I am no expert, and things could change, I guess when it's time for the shorts to actually be dealt with.

But it is tempting to see how low it goes and maybe make a small entry into it, just in case it does explode like people say it can do still.

Yeah I would have done it just to make a profit. Don't give a shit about the hedge funds.
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shadowsword87 posted...

You know the short price that companies were expecting to pay was somewhere in the $5 and $10 per share range, right?
Even if it hits $50 they'll still be fucked.

Yeah, that was the whole point. It was not like anyone thought gamestop was a good investment. The company is about as irrelevant as a blockbuster, but has about as enjoyable shopping experience as going to a wireless courier. It is completely doomed from a business standpoint.

As far as the shorts are concerned most of them already lost thier money, so I expected most of the support for GME to evaporate, but I guess I didn't count on the fomo with a bit of prodding from cuban to keep it up, although I guess it is declining again, so it probably is truly doomed now.

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DragonClaw01 posted...

Yeah, that was the whole point. It was not like anyone thought gamestop was a good investment. The company is about as irrelevant as a blockbuster, but has about as enjoyable shopping experience as going to a wireless courier. It is completely doomed from a business standpoint.

As far as the shorts are concerned most of them already lost thier money, so I expected most of the support for GME to evaporate, but I guess I didn't count on the fomo with a bit of prodding from cuban to keep it up, although I guess it is declining again, so it probably is truly doomed now.

The company itself is a complete shitshow, yeah. It's an awful company to work for, and an even worse from all of its business practices.
I don't have any love of the company, and it seems like nobody else really does as well.

Once the shorts are paid out though, shit is going to hit the fan.

Don't touch options unless you learn the greeks and how to control risk. A shitty platform for small traders like robinhood doesn't even have rudimentary educational materials to really learn option basics and fundamentals. Go to a better platform if that's what you want to do - all of the big ones should have materials. TD Ameritrade has excellent resources as well as the thinkorswim modeling platform.

The light in the tunnel was not daylight. It was an oncoming train. This was predictable. The sad thing is that many people were suckered into putting money in the trade way too late when the risk-reward profile was totally skewed towards a big loss. And the people encouraging them to do it were fellow retail traders who, of course, were driven by their own financial self-interest in fueling the pump. I wish people would learn from the experience, but I doubt they will do more than cry foul at "wall street" and "hedge funds". The first rule of investing is don't lose money. You make it much easier to follow that rule by not making idiotic and unreasonable investment decisions predicated on supposed moral authority and get rich quick schemes.

reruns_revenge posted...

The light in the tunnel was not daylight. It was an oncoming train. This was predictable. The sad thing is that many people were suckered into putting money in the trade way too late when the risk-reward profile was totally skewed towards a big loss. And the people encouraging them to do it were fellow retail traders who, of course, were driven by their own financial self-interest in fueling the pump.

This is literally what big hedge funds do every day. All the wringing of hands and gnashing of teeth isn't coming from retail traders, it's coming from all the "white shoes boys" that are clutching their pearls that the rabble dared to challenge them at their own game.

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LuciferSage posted...

This is literally what big hedge funds do every day. All the wringing of hands and gnashing of teeth isn't coming from retail traders, it's coming from all the "white shoes boys" that are clutching their pearls that the rabble dared to challenge them at their own game.

Ha. Yeah. They're really upset. Trading firms hate volatility and never play both sides of a trade. You people crack me up. So delusional.

Stand up and fight!

https://youtu.be/ZmInkxbvlCs