Board 8 > You guys see what's going on with GameStop's stock?

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LordoftheMorons
01/27/21 9:57:38 PM
#151:


foolm0r0n posted...
Why though? If everyone puts a stop loss at the price they bought in on, who loses other than the shorters?

Those with weak hands will lose, sure, like any stock. But there's so much safe money to grab here.
I mean when you're selling there has to be someone at the other end of the transaction buying it. There's some number of stocks that have to be bought due to the shorts, but then there will still be more people who want to sell. Once the hedge funds have taken their hit, who else is going to buy a still clearly inflated stock (except, perhaps, for suckers who don't realize that it's over)?

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Colegreen_c12
01/27/21 10:12:28 PM
#152:


foolm0r0n posted...
Why though? If everyone puts a stop loss at the price they bought in on, who loses other than the shorters?

No offense but please don't give people false info.

If i set a stop loss for 300 but the stock free falls from 1000 to 100 in a very quick period of time i might end up selling for way less than 300. a stop loss is not a guranteed sale at the price you want but rather a number that once you drop below makes you put in a market order. If the price drops fast enough that market order may be way below what you expected

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foolm0r0n
01/27/21 10:13:21 PM
#153:


@lotm Yeah that's the whole point. The shorters will take all the hits on the way down as they compete to sell for the lowest price. Any crash is an opportunity for investors to safely sell to shorters. There's so much opportunity to get out when you want to that nearly all the risk is nullified. The higher it inflates, the more room you have to play and pull your parachute.

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foolm0r0n
01/27/21 10:15:54 PM
#154:


Colegreen_c12 posted...
If i set a stop loss for 300 but the stock free falls from 1000 to 100 in a very quick period of time i might end up selling for way less than 300.
Yeah but how does that happen on a highly shorted stock? They buoy the price as it falls which gives you plenty of time to sell.

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Colegreen_c12
01/27/21 10:18:09 PM
#155:


foolm0r0n posted...
Yeah but how does that happen on a highly shorted stock? They buoy the price as it falls which gives you plenty of time to sell.

If i have to cover why would i buy after a stock crashed 50% from its max. why wouldnt i just wait until it finished crashing and sell at its lowest.

If it's a gradual decline sure, but my assumption is that once most of the short positions are closed we are going to see a very quick drop.

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masterplum
01/27/21 10:18:28 PM
#156:


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LordoftheMorons
01/27/21 10:19:29 PM
#157:


The relevant thing is the total number of stocks that need to be sold vs how many stocks shorters are on the hook to buy. Unless I'm wrong and the former number is smaller (which I doubt given the almost 20 fold increase in the stock's price) there are going to be a bunch of other shares where non-hedge fund people have to take a hit. Once it starts tanking, everybody is going to want to sell.

Like yeah it's hypothetically possible that people could sell in the reverse order that they bought and everyone besides the wall street guys comes out a little ahead, but realistically the orders will not be the same and some people will be making huge gains while others lose most of their investment.

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NFUN
01/27/21 10:19:54 PM
#158:


masterplum posted...


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Colegreen_c12
01/27/21 10:22:14 PM
#159:


LordoftheMorons posted...
Unless I'm wrong and the former number is smaller (which I doubt given the almost 20 fold increase in the stock's price)

you are wrong about this, the short percentage is over 100%. However yes some people will get screwed in the end. It will likely keep rising, people buy out of fomo at some insane price and then it crashes as the shorts finish covering. The only question is what that price is.

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red sox 777
01/27/21 10:23:24 PM
#160:


LordoftheMorons posted...
The relevant thing is the total number of stocks that need to be sold vs how many stocks shorters are on the hook to buy. Unless I'm wrong and the former number is smaller (which I doubt given the almost 20 fold increase in the stock's price) there are going to be a bunch of other shares where non-hedge fund people have to take a hit. Once it starts tanking, everybody is going to want to sell.

Like yeah it's hypothetically possible that people could sell in the reverse order that they bought and everyone besides the wall street guys comes out a little ahead, but realistically the orders will not be the same and some people will be making huge gains while others lose most of their investment.

Yes, LOTM, that's what everyone has been trying to tell you. The number of shares the shorts are on the hook to buy is about 140% of the total number of shares.

Yes, you're reading that right. Over 100%. That's why this whole thing is happening, and why it's rare (the last time a big squeeze like this happened with a major company was 2008). The shorts basically built a trap for themselves and then walked into it. Then they doubled down on it. Now the market is punishing them for their stupidity.

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Wanglicious
01/27/21 10:26:29 PM
#161:


on shorts, gamestop is 140%, AMC is 83%.
that's why both were targeted and both are effective.


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red sox 777
01/27/21 10:27:50 PM
#162:


And yes, I expect some people will still sell too late because it's possible for a share to be returned, sold by the owner back to a short seller, and then be returned again to cover a different loan. However, there's risk in any investment. If you don't take any risks, you can't expect to generate any returns. Everyone buying stocks should understand the risk, and no one to my knowledge has been pitching GME to people as a sure thing. Nor have people been advising to buy and hold forever regardless of price. You sell when the price on offer is high enough that you prefer it over keeping the stock.

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ChaosTonyV4
01/27/21 10:37:22 PM
#163:


UltimaterializerX posted...
Tony check your PMs holy shit

?

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kevwaffles
01/27/21 10:37:39 PM
#164:


"Some men just want to watch the world burn."

This is that but more targeted. How is that a hard concept?
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foolm0r0n
01/27/21 10:38:40 PM
#165:


Colegreen_c12 posted...
If i have to cover why would i buy after a stock crashed 50% from its max. why wouldnt i just wait until it finished crashing and sell at its lowest.

If it's a gradual decline sure, but my assumption is that once most of the short positions are closed we are going to see a very quick drop.
Shorters are competing against other shorters, so they will fight to buy at the right time on the way down before their buys shoot the stock back up. They can't coordinate.

And yeah once the shorts are up, this thing craters. Most will have exited by then though.

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LordoftheMorons
01/27/21 10:41:43 PM
#166:


Colegreen_c12 posted...
you are wrong about this, the short percentage is over 100%. However yes some people will get screwed in the end. It will likely keep rising, people buy out of fomo at some insane price and then it crashes as the shorts finish covering. The only question is what that price is.
Fair enough, my bad on that. Thinking about it more though I'm pretty sure you'll still see a lot of people on the train lose their money, though; as shorters return the stocks they borrowed, the original lenders are also going to want to sell their returned stock (as well as anyone else who just happened to own GME). They'll also be competing with WSBers to siphon off the money from the shorters.

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Colegreen_c12
01/27/21 10:43:40 PM
#167:


foolm0r0n posted...
And yeah once the shorts are up, this thing craters. No one needs to stay in at that point though.

The problem is how do you know. Afaik short % is updated daily (at least publicly) so the shorters could quietly close their positions one day and then people see it after the day that the short percentage is something reasonable like 20% now and it craters the next day on market open.

I'm not saying that I think it will be as drastic as that, but it's a possibility. I don't think its likely quite yet but the point is that no matter what buying a stock well above its actual value carries some degree of risk, and a stop loss does not protect you from it.

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Wanglicious
01/27/21 10:44:46 PM
#168:


well, short sellers can figure out what to do after they get squeezed at the end of the week.
as can the ones holding the stock, if they're going for an even bigger squeeze or not.


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foolm0r0n
01/27/21 11:20:41 PM
#169:


Colegreen_c12 posted...
so the shorters could quietly close their positions one day
They can't though because they are over 100% shorted. That would mean closing positions when the stock is really high and making all the memer investors rich and happy. That's the dream scenario.

It's much safer for the shorters to just wait until things naturally cool down and then try to pounce on a relatively low price, which will trigger another short squeeze, and repeat that cycle gradually until all shorters are covered and all memers have exited. Then the price craters

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_foolmo_
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DoubleTangicide
01/27/21 11:32:48 PM
#170:


Lets get NAKD, B8

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bassistsjk
01/28/21 12:18:27 AM
#171:


What is a direct offering and why does it seem like a bad thing for gainz
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ChaosTonyV4
01/28/21 12:27:45 AM
#172:


Unrelated, but I just saw Doge coin broke through a penny.

My god, the memes are taking over.

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ninkendo
01/28/21 1:33:54 AM
#173:


ChaosTonyV4 posted...
Unrelated, but I just saw Doge coin broke through a penny.

My god, the memes are taking over.
Soon I'll be a millionaire

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ChaosTonyV4
01/28/21 1:52:06 AM
#174:


Way back when I was riding the high on LTC, Tron, and Verge crypto money I dropped like 100 bucks on like a million doge because I got swept up in the chat and it went down so I just dumped it, lmao fuck

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Phantom Dust.
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ninkendo
01/28/21 2:03:06 AM
#175:


I only did it because a coworker told me to around that time so I did it for the lulz and I completely forgot about it until just recently

Not that I actually know what to do with any of it I don't really understand any of this stuff just gonna sit on it for as long as I can and see what happens

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Metal_DK
01/28/21 3:06:04 AM
#176:


short interest is still insane here

https://www.ortex.com/stocks/26195/shorts


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Nanis23
01/28/21 4:24:20 AM
#177:


I fucking knew Dogecoin would explode and I still believe it will be much higher

HOW
DO
I
BUY
THIS

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MoogleKupo141
01/28/21 4:54:35 AM
#178:


lol fuck I sold my modest dogecoin supply today to buy AMC
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CoolCly
01/28/21 4:56:35 AM
#179:


is dogecoin a real thing

in the small steps i've taken into the crypto community, it seems to be mentioned jokingly anytime the topic of scam coins or worthless coins are brought up.

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masterplum
01/28/21 7:19:45 AM
#180:


CoolCly posted...
is dogecoin a real thing

in the small steps i've taken into the crypto community, it seems to be mentioned jokingly anytime the topic of scam coins or worthless coins are brought up.

It was made as a joke. NPR did an interview with creator and he was as WTF it took off as anyone else

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BlAcK TuRtLe
01/28/21 9:18:14 AM
#181:


Lightning Strikes posted...
Boy capitalism sure is stupid.
Sure is. All this time people are wasting yoloing their disposable income into meme stocks is much better spent standing in bread lines and working on a commune.

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guffguy89
01/28/21 10:22:02 AM
#182:


Robinhood, named after the tale of the hero who stole from the rich to give to the poor, has blocked buying of GME shares....a move to prevent the poor from stealing from the rich. Irony at its peak.

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The Mana Sword
01/28/21 10:27:30 AM
#183:


I bought $5 worth of dogecoin this morning as a joke

Should have bought more

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ChaosTonyV4
01/28/21 10:29:44 AM
#184:


Id have actually been on the ground floor of a rocket if I kept my million DOGE.

Kill me

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ninkendo
01/28/21 10:30:14 AM
#185:


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ExThaNemesis
01/28/21 10:33:14 AM
#186:


if these fucking altcoins were easy to buy I'd be so much happier

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ExThaNemesis
01/28/21 10:33:28 AM
#187:


I wanted to put a hundred in Doge like three weeks ago but you can't fucking buy it anywhere

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ChaosTonyV4
01/28/21 10:34:30 AM
#188:


You can buy it at HitBTC, thats usually what I use because they have everything.

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Phantom Dust.
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Forceful_Dragon
01/28/21 10:34:42 AM
#189:


This story has been fascinating, but honestly I just need to avoid following these types of events until I have disposable income myself to participate. My FOMO being on the outside looking in of all this has been huge.

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foolm0r0n
01/28/21 12:38:20 PM
#190:


ChaosTonyV4 posted...
Id have actually been on the ground floor of a rocket if I kept my million DOGE.

Kill me
It's hit this price relative to BTC 8ish times before, you would've sold then

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_foolmo_
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KamikazePotato
01/28/21 2:15:55 PM
#191:


The Robinhood thing happening right now is kinda wild

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PrivateBiscuit1
01/28/21 4:17:46 PM
#192:


Okay guys, this isn't funny anymore. This man who owns 20 million dollar homes is crying. Can you imagine if this was your grandfather crying over GameStop?

https://twitter.com/Fizzy_Purp/status/1354869397739851778?s=20

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bassistsjk
01/28/21 4:19:11 PM
#193:


Get rekt Cooperman
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PrivateBiscuit1
01/28/21 4:21:15 PM
#194:


OH MY GOD DON'T EVEN BEGIN TO FEEL BAD FOR THIS ASSHOLE.

lmao jesus christ fuck this man into oblivion. People are getting their checks from the government and ATTACKING THE RICH PEOPLE holy shit.

https://twitter.com/bubbaprog/status/1354850858115211264?s=20

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jcgamer107
01/28/21 4:51:40 PM
#195:


PrivateBiscuit1 posted...
Okay guys, this isn't funny anymore. This man who owns 20 million dollar homes is crying. Can you imagine if this was your grandfather crying over GameStop?

https://twitter.com/Fizzy_Purp/status/1354869397739851778?s=20
this is from 2019

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azuarc wasn't even home. he was playing Magic the Gathering at his buddy's store, which is extremely easy to verify
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The Mana Sword
01/28/21 9:52:10 PM
#196:


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ZenOfThunder
01/28/21 9:53:58 PM
#197:


10 years from now im gonna offload these 600 dogecoin and make upwards of 50 dollars

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SteveNasti
01/28/21 10:04:23 PM
#198:


ZenOfThunder posted...
10 years from now im gonna offload these 600 dogecoin and make upwards of 5 million dollars


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tyder21
01/28/21 10:07:14 PM
#199:


I don't even feel bad for not putting money into dogecoin. It's fucking dogecoin.

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NFUN
01/28/21 10:07:44 PM
#200:


tyder21 posted...
I don't even feel bad for not putting money into dogecoin. It's fucking dogecoin.

this is a reason you *should* feel bad for not putting money into it
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