Current Events > Can someone explain what's going on with gamespot stock?

(+) Yeah! (+)

What is wall street bets. Why are people saying there needs to be lawyers involved. Why are people saying big money is scared?
i thought some rando on reddit bought some gamespot stock a year ago and now its rising so a bunch of other redditors bought in as well. Why is that news or bad?

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Try clicking one of the other 50 topics on this.

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onedarksoul posted...

Try clicking one of the other 50 topics on this.

for real, how lazy are you

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Use the search board feature. There's like dozens of topics already. Stop flooding the board with this

to the moon

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They merged with gamefaqs

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fuckery, that's what's going on.

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Big money tried to make money using gamestop stocks low prices
Redditors bought tons, raising prices
Big money forced to buy at insanely high prices
Big money losing lots of money because of it

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EricDraven59 posted...

Use the search board feature. There's like dozens of topics already. Stop flooding the board with this

i dont use features that are karma locked for no reason

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Rika_Furude posted...

i dont use features that are karma locked for no reason

What are you talking about? The search feature can be used when not even logged in. So again use it and stop flooding the board

from what i understand

the practice of short selling stocks means that you borrow a bunch of stocks, sell it, hope it goes down, buy back the stock at a lower price, and then return the stocks you borrowed and keep the extra you made when you sold it

ie

say a $GFAQS is 10 bucks a share
i borrow a share from a lender. i sell it for 10 bucks. the price tanks to 5 bucks. i buy it back for 5 bucks and i give back that share to the lender. i know have 5 extra dollars.

now expand that out to the millions, billions of dollars.

Reddit saw a company doing this with GameStop and said "HELL TO THE NAW, TO THE NAH NAH NAH!" and bought options in gamestop, causing the stock to S K Y R O C K E T.

back to our example.
i borrow a stock. i sell it for 10 bucks. but now its worth 1000 dollars. im fucked. the lender wants his stock back, so i have to buy it at 1000 dollars. so i do, and now im out 990 dollars.

NOW EXPAND THAT TO THE BILLIONS OF DOLLARS.

reddit was doing this trololololling at all these corporate fat cats who thought they could short sell and make millions, but now they're going to LOSE millions because of them.

that when robinhood got a phone call from the fat cats: "THE FUCK IS GOING ON? WHY ARE THESE POURS FUCKING UP OUR BUSINESS!"

so robin hood, who pretended to be the broker for the common man, said NOPE NO MORE TRADING GAMESTOP and stopped them, causing the stock to TANK.

now reddit wants to sue them because robinhood shouldn't have intervened and its causing people who bought gamestop to lose money.

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Gamefaqs Features, now loaded with karma and nine essential vitamins and minerals

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EricDraven59 posted...

What are you talking about? The search feature can be used when not even logged in. So again use it and stop flooding the board

Unless thats a recent change, no you cant. Not when signed in. Stop trolling. You always needed a certain amount of karma to search or even view your post history

TheBlueMonk_ posted...

from what i understand

the practice of short selling stocks means that you borrow a bunch of stocks, sell it, hope it goes down, buy back the stock at a lower price, and then return the stocks you borrowed and keep the extra you made when you sold it

ie

say a $GFAQS is 10 bucks a share
i borrow a share from a lender. i sell it for 10 bucks. the price tanks to 5 bucks. i buy it back for 5 bucks and i give back that share to the lender. i know have 5 extra dollars.

now expand that out to the millions, billions of dollars.

Reddit saw a company doing this with GameStop and said "HELL TO THE NAW, TO THE NAH NAH NAH!" and bought options in gamestop, causing the stock to S K Y R O C K E T.

back to our example.
i borrow a stock. i sell it for 10 bucks. but now its worth 1000 dollars. im fucked. the lender wants his stock back, so i have to buy it at 1000 dollars. so i do, and now im out 990 dollars.

NOW EXPAND THAT TO THE BILLIONS OF DOLLARS.

reddit was doing this trololololling at all these corporate fat cats who thought they could short sell and make millions, but now they're going to LOSE millions because of them.

that when robinhood got a phone call from the fat cats: "THE FUCK IS GOING ON? WHY ARE THESE POURS FUCKING UP OUR BUSINESS!"

so robin hood, who pretended to be the broker for the common man, said NOPE NO MORE TRADING GAMESTOP and stopped them, causing the stock to TANK.

now reddit wants to sue them because robinhood shouldn't have intervened and its causing people who bought gamestop to lose money.

The idea of borrowing stocks to make a profit off a company going bankrupt blows my mind. I thought there was only buying or selling

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Rika_Furude posted...

The idea of borrowing stocks to make a profit off a company going bankrupt blows my mind. I thought there was only buying or selling

They made the system into a game so we gamed the system and they're mad that we're better so they're making up new rules like a bratty 6 year old and they're still losing.

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