Surly #Stonks

[Trey3216 15358]

3 minutes ago, ZB'Tejas said:

Thanks a BlottObama

Sent from my iPhone using Tapatalk

FIFY 

[LABEVO 928]

15 minutes ago, DonkeyCigars said:

I still think longterm shorting GME makes sense; it's a failed, crappy business and this manic high can only last so long. Like a drug binge, it wears off and you have to sleep at some point.

tender shares and pivot the business.

Hertz was able to do the same to keep from going bankrupt.

[DonkeyCigars 143]

7 minutes ago, Snacks said:

They can tweak the business model a bit to use all that user data and create a streaming service... with the money they get with any new offering...

I need to look into legality and ability of it, but if GME did an offering now, they'd save the shorts and make billions in a day.

I guess. I've worked closely with GME and the 4 CEO's it's had in the last 5 years, and have zero confidence in their front office. I understand why folks are jazzed about the Chewy guy joining the board, but it's not enough. GME are the NYJ's and their CEO is Adam Gase (in my experience). You give them unlimited salary cap and draft picks and they will still screw it up and lose.

That said I put some money where my mouth is and just executed a few puts to short the stock in the future. Let's see. In the meantime I say keep gassing them up for the lulz!

Edited January 27, 2021 by DonkeyCigars

[Hank_Hill 18896]

33 minutes ago, Trey3216 said:

I may go back to the well one more time and buy some weekly $20 VXX calls for .35 right now.  As this insanity begins to unwind several funds, there's just going to be more and more pain on the broader market.  I could see a major selloff tomorrow and friday.  

Good call here. Already up 70% from purchase.

[DonkeyCigars 143]

2 minutes ago, LABEVO said:

tender shares and pivot the business.

Hertz was able to do the same to keep from going bankrupt.

I think they can keep the business floating sure, but I think this is a sub-$57 share stock in a few months nonetheless. At least that's my bet.

GME has hit the lottery with the weaponized autistic army; remember, this is all stemming from literally nothing they've done to earn it. It all just feels so fleeting and flimsy. 

[936horn 919]

https://www.zerohedge.com/markets/unprecedented-move-td-ameritrade-puts-restrictions-transactions-gme-amc

"It's only ok when hedge funds manipulate the markets!!!!"

[Bone3421 716]

I guess. I've worked closely with GME and the 4 CEO's it's had in the last 5 years, and have zero confidence in their front office. I understand why folks are jazzed about the Chewy guy joining the board, but it's not enough. GME are the NYJ's and their CEO is Adam Gase (in my experience). You give them unlimited salary cap and draft picks and they will still screw it up and lose.
That said I put some money where my mouth is and just executed a few puts to short the stock in the future. Let's see. In the meantime I say keep gassing them up for the lulz!

Isnt it mostly a supply and demand play currently....doesn't cost $$$ to hold shares and bleed the shorts...but I guess if you can just keep naked shorting it wont really matter

I'll be interested to see the short% after today...I dont think we've seen the squeeze yet

[DonkeyCigars 143]

Just now, Bone3421 said:

Isnt it mostly a supply and demand play currently....doesn't cost $$$ to hold shares and bleed the shorts...but I guess if you can just keep naked shorting it wont really matter

I'll be interested to see the short% after today...I dont think we've seen the squeeze yet

Good point; I'm just taking a swing with some petty cash on a gamble with some gut instinct is all.

[Slacks 6862]

4 minutes ago, DonkeyCigars said:

I think they can keep the business floating sure, but I think this is a sub-$57 share stock in a few months nonetheless. At least that's my bet.

GME has hit the lottery with the weaponized autistic army; remember, this is all stemming from literally nothing they've done to earn it. It all just feels so fleeting and flimsy. 

They also didn't deserve $3/share. (I think I read FV was $12).

The hedeges have earned this beatdown by being stupid enough to short more shares than there are in float. They have to buy the equivalent EVERY share to cover. Cantpossible without GME helping them by diluting. 

FAAFO

[Bone3421 716]

Good point; I'm just taking a swing with some petty cash on a gamble with some gut instinct is all.

I have been thinking though if it would be wise to buy some puts on the way down after the squeeze but I dont know enough about....sitting at +3.5k now and hoping to get up to 5k or 10k if really lucky

[DonkeyCigars 143]

4 minutes ago, Snacks said:

They also didn't deserve $3/share. (I think I read FV was $12).

The hedeges have earned this beatdown by being stupid enough to short more shares than there are in float. They have to buy the equivalent EVERY share to cover. Cantpossible without GME helping them by diluting. 

FAAFO

There is a somewhat similar story, where one guy bought up all the shares when funds were shorting more than were in float. That guy ended up getting sued and I think had to settle?

The difference here is it was one guy/fund versus a billion reddit idiots. Does that really make a difference? 

[Slacks 6862]

3 minutes ago, Bone3421 said:

Isnt it mostly a supply and demand play currently....doesn't cost $$$ to hold shares and bleed the shorts...but I guess if you can just keep naked shorting it wont really matter

I'll be interested to see the short% after today...I dont think we've seen the squeeze yet

We haven't. 

 

[DonkeyCigars 143]

1 minute ago, DonkeyCigars said:

There is a somewhat similar story, where one guy bought up all the shares when funds were shorting more than were in float. That guy ended up getting sued and I think had to settle?

The difference here is it was one guy/fund versus a billion reddit idiots. Does that really make a difference? 

Here is the complaint and it's a great read actually if you are so inclined and into this kind of stuff:

https://www.sec.gov/litigation/complaints/2012/comp-pr2012-122-2.pdf

[Slacks 6862]

2 minutes ago, DonkeyCigars said:

There is a somewhat similar story, where one guy bought up all the shares when funds were shorting more than were in float. That guy ended up getting sued and I think had to settle?

The difference here is it was one guy/fund versus a billion reddit idiots. Does that really make a difference? 

I'd like to see more on that.  I can't imagine buying stocks to be illegal.

[ZB'Tejas 593]

Sent from my iPhone using Tapatalk

[DonkeyCigars 143]

1 minute ago, Snacks said:

I'd like to see more on that.  I can't imagine buying stocks to be illegal.

See my edit above your post.

[Blotto 23579]

51 minutes ago, Trey3216 said:

I may go back to the well one more time and buy some weekly $20 VXX calls for .35 right now.  As this insanity begins to unwind several funds, there's just going to be more and more pain on the broader market.  I could see a major selloff tomorrow and friday.  

I meant to ask you last time you were thinking about VXX calls . Do you have thoughts on VXX options vs UVXY. Do they mainly mirror each other? 

[Trey3216 15358]

5 minutes ago, Blotto said:

I meant to ask you last time you were thinking about VXX calls . Do you have thoughts on VXX options vs UVXY. Do they mainly mirror each other? 

UVXY, since it's leveraged, will have decay over time (not that VXX won't, it's just not as pronounced due to the leverage).  I honestly forgot that UVXY had listed options.  You may get more bang for your buck with UVXY, but you're also having to pay extra for the leverage (which can amount to some built in vega crush in a stagnant market).  

[ChickenSandwich 9853]

10 minutes ago, ZB'Tejas said:

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Horseshit 

[Blotto 23579]

3 minutes ago, Trey3216 said:

UVXY, since it's leveraged, will have decay over time (not that VXX won't, it's just not as pronounced due to the leverage).  I honestly forgot that UVXY had listed options.  You may get more bang for your buck with UVXY, but you're also having to pay extra for the leverage (which can amount to some built in vega crush in a stagnant market).  

so......more or less tendies? JK, appreciate the reply.

[Tailgate 3024]

EXPR joining the amusement park as another wild ride.

[sidis 9832]

2 minutes ago, Tailgate said:

EXPR joining the amusement park as another wild ride.

third largest holder of expr?  blackrock.

Throw them on the list, @Eastwood.  Are they on Melvin's 13F as a short position?

[Trey3216 15358]

2 minutes ago, sidis said:

third largest holder of expr?  blackrock.

Throw them on the list, @Eastwood.  Are they on Melvin's 13F as a short position?

BlackRock going in deep, and they’ve got length and girth Melvin/Citron can’t take.  

[Eastwood 4394]

third largest holder of expr?  blackrock.
Throw them on the list, [mention=247]Eastwood[/mention].  Are they on Melvin's 13F as a short position?

Unsure. Not home to check. Googling Melvin Capital 13f and then finding the one they filed in November would have that info. Only thing is that they show put positions, not shorted shares, but I assume if they bought puts, they also shorted. That's what they did with GME and BBBY.

[Slacks 6862]

36 minutes ago, DonkeyCigars said:

See my edit above your post.

Yah... that was some illegal manipulation among other things.... only got his hand slapped and paid some fine.

https://www.sec.gov/news/press-release/2012-2012-122htm

 

Difference today... regular old regular folks (who are supposed to be market regards) are in on the squeeze.  Free market is winning today.

 

[Cheeseweasel 26438]

33 minutes ago, ChickenSandwich said:

Horseshit 

Golden Rule.

 

They make the gold, so they make the rules. It's absolutely horseshit that they are protecting their own.

[Chewbacca 7787]

47 minutes ago, DonkeyCigars said:

Here is the complaint and it's a great read actually if you are so inclined and into this kind of stuff:

https://www.sec.gov/litigation/complaints/2012/comp-pr2012-122-2.pdf

So it's OK to sell naked shorts, but it's not OK to squeeze the folks who do so?  What the fuck did I just read?

[Cheeseweasel 26438]

Here goes AMC again. 

[DonkeyCigars 143]

1 minute ago, longhornmatt said:

The regular old folks are also manipulating the markets, and they’re making it easy for the SEC by documenting that they’re doing it for that reason on Reddit.  “But it was for the lulz” isn’t going to be a great defense for whatever poor saps the SEC chooses to go after.

Which was exactly my question, when I asked: The difference here is it was one guy/fund versus a billion reddit idiots. Does that really make a difference? 

There is a difference but is there a distinction?

 

[Harrison Stafford 3336]

Who cares?  Free money!!!!

[sidis 9832]

18 minutes ago, Eastwood said:

22 minutes ago, sidis said:

third largest holder of expr?  blackrock.
Throw them on the list, [mention=247]Eastwood[/mention].  Are they on Melvin's 13F as a short position?

Unsure. Not home to check. Googling Melvin Capital 13f and then finding the one they filed in November would have that info. Only thing is that they show put positions, not shorted shares, but I assume if they bought puts, they also shorted. That's what they did with GME and BBBY.

i just went and looked at their 13F, it doesn't appear that Melvin had any puts on EXPR.

[Wally Fairway 5587]

19 hours ago, Wally Fairway said:

Remember when it was crazy that GME hit $150, yeah that day was just yesterday.
It just hit $247 in aftermarket trading - what number is unbelievable to you? $400, $500, $750, $1,000

I kinda feel bad for people at GameStop who have unvested options and just know that this shit can't last until they could cash in; I'm too lazy to look but it would be interesting to see how many unvested options there are, and if they could trigger somehow to allow people to benefit (and likely increase float by a small percentage.)

Remember when I thought about buying $80 GME calls, but they were pricey, yeah that day was yesterday
What a pussy move to not buy at that point, when the stock was in the mid-90's
I didn't really need that extra $20,000+ per option
I'm also glad I didn't buy APPL when they introduced the iPod, and again with the iPhone

I only charge $9.95 to tell you what I'm not investing in

[DonkeyCigars 143]

I think Eastwood was brilliant to make a ton of money; is he leaving money on the table? Who knows. But certainly he gained.

The question really is, how does this end? I like this blurb I read this AM that kinda details the tricky position to do anything with this newfound windfall:

"You know who has a weird job right now? The CEO of GameStop George Sherman.

GameStop’s executives and board of directors don’t seem to have said much recently. What could they say? “Huh, nice that the stock’s up.” One important thing to remember is that while you and I and Reddit and Elon Musk can all treat GameStop’s stock as an absurd gambling token, a toy adrift on market sentiment far from any economic reality, it is still the stock of a company. The company’s executives still come to work each day and have to figure out what this all means. Does the price signal sent by the capital markets tell them something about how they should invest and what their hurdle rate for new projects should be? (Lol no.) Should they keep doing the stock buyback that they still have authorized? (Lol no.)

Should they sell a ton of stock to all these redditors who want it so badly? Yes, of course, absolutely, I said so on Monday, but it’s tricky.

For one thing if they sell stock at the top they will surely get sued. For another thing, even at these prices, you want something sensible to do with the money; you can’t be like “we’re gonna sell a billion dollars of stock because we can, and use the money to pay ourselves bonuses and open some stores I guess?” Also, though, what is happening with their stock is a strange and for all anyone knows delicate piece of magic, and it’s very possible that filing to sell more stock would mess it up.[3] For technical reasons (more shares for short sellers to borrow), for fundamental reasons (dilution?), for anti-establishment resentment reasons (“ahh Wall Street is taking advantage of this rally for its own ends”) or for general emotional reasons (“man even GameStop is a seller at these prices”). I would not be especially surprised if GameStop announced a stock offering and the stock fell all the way back to, you know what I am not going to type a number here, but let’s just say a normal price."

[Bone3421 716]

I think Eastwood was brilliant to make a ton of money; is he leaving money on the table? Who knows. But certainly he gained.
The question really is, how does this end? I like this blurb I read this AM that kinda details the tricky position to do anything with this newfound windfall:
"You know who has a weird job right now? The CEO of GameStop George Sherman.
GameStop’s executives and board of directors don’t seem to have said much recently. What could they say? “Huh, nice that the stock’s up.” One important thing to remember is that while you and I and Reddit and Elon Musk can all treat GameStop’s stock as an absurd gambling token, a toy adrift on market sentiment far from any economic reality, it is still the stock of a company. The company’s executives still come to work each day and have to figure out what this all means. Does the price signal sent by the capital markets tell them something about how they should invest and what their hurdle rate for new projects should be? (Lol no.) Should they keep doing the stock buyback that they still have authorized? (Lol no.)
Should they sell a ton of stock to all these redditors who want it so badly? Yes, of course, absolutely, I said so on Monday, but it’s tricky.
For one thing if they sell stock at the top they will surely get sued. For another thing, even at these prices, you want something sensible to do with the money; you can’t be like “we’re gonna sell a billion dollars of stock because we can, and use the money to pay ourselves bonuses and open some stores I guess?” Also, though, what is happening with their stock is a strange and for all anyone knows delicate piece of magic, and it’s very possible that filing to sell more stock would mess it up.[3] For technical reasons (more shares for short sellers to borrow), for fundamental reasons (dilution?), for anti-establishment resentment reasons (“ahh Wall Street is taking advantage of this rally for its own ends”) or for general emotional reasons (“man even GameStop is a seller at these prices”). I would not be especially surprised if GameStop announced a stock offering and the stock fell all the way back to, you know what I am not going to type a number here, but let’s just say a normal price."

Just hear say but I believe they are not saying anything due to the "quiet period" before earnings report

[DonkeyCigars 143]

2 minutes ago, Bone3421 said:

9 minutes ago, DonkeyCigars said:

I think Eastwood was brilliant to make a ton of money; is he leaving money on the table? Who knows. But certainly he gained.
The question really is, how does this end? I like this blurb I read this AM that kinda details the tricky position to do anything with this newfound windfall:
"You know who has a weird job right now? The CEO of GameStop George Sherman.
GameStop’s executives and board of directors don’t seem to have said much recently. What could they say? “Huh, nice that the stock’s up.” One important thing to remember is that while you and I and Reddit and Elon Musk can all treat GameStop’s stock as an absurd gambling token, a toy adrift on market sentiment far from any economic reality, it is still the stock of a company. The company’s executives still come to work each day and have to figure out what this all means. Does the price signal sent by the capital markets tell them something about how they should invest and what their hurdle rate for new projects should be? (Lol no.) Should they keep doing the stock buyback that they still have authorized? (Lol no.)
Should they sell a ton of stock to all these redditors who want it so badly? Yes, of course, absolutely, I said so on Monday, but it’s tricky.
For one thing if they sell stock at the top they will surely get sued. For another thing, even at these prices, you want something sensible to do with the money; you can’t be like “we’re gonna sell a billion dollars of stock because we can, and use the money to pay ourselves bonuses and open some stores I guess?” Also, though, what is happening with their stock is a strange and for all anyone knows delicate piece of magic, and it’s very possible that filing to sell more stock would mess it up.[3] For technical reasons (more shares for short sellers to borrow), for fundamental reasons (dilution?), for anti-establishment resentment reasons (“ahh Wall Street is taking advantage of this rally for its own ends”) or for general emotional reasons (“man even GameStop is a seller at these prices”). I would not be especially surprised if GameStop announced a stock offering and the stock fell all the way back to, you know what I am not going to type a number here, but let’s just say a normal price."

Just hear say but I believe they are not saying anything due to the "quiet period" before earnings report

Sure, but the post was more a commentary into the weird nature of this windfall. It's like stealing a $100mm painting and not being able to fence it. This is what I found the most interesting, this idea that they need to take advantage of this as a company, but if they do they might screw it up and ruin it. It also speaks to Eastwood's question of, "what is the actual end game?":

Also, though, what is happening with their stock is a strange and for all anyone knows delicate piece of magic, and it’s very possible that filing to sell more stock would mess it up.[3] For technical reasons (more shares for short sellers to borrow), for fundamental reasons (dilution?), for anti-establishment resentment reasons (“ahh Wall Street is taking advantage of this rally for its own ends”) or for general emotional reasons (“man even GameStop is a seller at these prices”). I would not be especially surprised if GameStop announced a stock offering and the stock fell all the way back to, you know what I am not going to type a number here, but let’s just say a normal price."

Edited January 27, 2021 by DonkeyCigars

[LABEVO 928]

10 minutes ago, Bone3421 said:

16 minutes ago, DonkeyCigars said:

I think Eastwood was brilliant to make a ton of money; is he leaving money on the table? Who knows. But certainly he gained.
The question really is, how does this end? I like this blurb I read this AM that kinda details the tricky position to do anything with this newfound windfall:
"You know who has a weird job right now? The CEO of GameStop George Sherman.
GameStop’s executives and board of directors don’t seem to have said much recently. What could they say? “Huh, nice that the stock’s up.” One important thing to remember is that while you and I and Reddit and Elon Musk can all treat GameStop’s stock as an absurd gambling token, a toy adrift on market sentiment far from any economic reality, it is still the stock of a company. The company’s executives still come to work each day and have to figure out what this all means. Does the price signal sent by the capital markets tell them something about how they should invest and what their hurdle rate for new projects should be? (Lol no.) Should they keep doing the stock buyback that they still have authorized? (Lol no.)
Should they sell a ton of stock to all these redditors who want it so badly? Yes, of course, absolutely, I said so on Monday, but it’s tricky.
For one thing if they sell stock at the top they will surely get sued. For another thing, even at these prices, you want something sensible to do with the money; you can’t be like “we’re gonna sell a billion dollars of stock because we can, and use the money to pay ourselves bonuses and open some stores I guess?” Also, though, what is happening with their stock is a strange and for all anyone knows delicate piece of magic, and it’s very possible that filing to sell more stock would mess it up.[3] For technical reasons (more shares for short sellers to borrow), for fundamental reasons (dilution?), for anti-establishment resentment reasons (“ahh Wall Street is taking advantage of this rally for its own ends”) or for general emotional reasons (“man even GameStop is a seller at these prices”). I would not be especially surprised if GameStop announced a stock offering and the stock fell all the way back to, you know what I am not going to type a number here, but let’s just say a normal price."

Just hear say but I believe they are not saying anything due to the "quiet period" before earnings report

[Anastasis 23484]

 

[Bone3421 716]

Sure, but the post was more a commentary into the weird nature of this windfall. It's like stealing a $100mm painting and not being able to fence it. This is what I found the most interesting, this idea that they need to take advantage of this as a company, but if they do they might screw it up and ruin it. It also speaks to Eastwood's question of, "what is the actual end game?":
Also, though, what is happening with their stock is a strange and for all anyone knows delicate piece of magic, and it’s very possible that filing to sell more stock would mess it up.[3] For technical reasons (more shares for short sellers to borrow), for fundamental reasons (dilution?), for anti-establishment resentment reasons (“ahh Wall Street is taking advantage of this rally for its own ends”) or for general emotional reasons (“man even GameStop is a seller at these prices”). I would not be especially surprised if GameStop announced a stock offering and the stock fell all the way back to, you know what I am not going to type a number here, but let’s just say a normal price."

How about this rides up to 700$ then we see a stock split ala Tesla then WSB raises it 500%....

[Hank_Hill 18896]

$25 BB call looking spicy. This shit is just nuts.

[Anastasis 23484]

 

[Cheeseweasel 26438]

34 minutes ago, DonkeyCigars said:

Should they sell a ton of stock to all these redditors who want it so badly? Yes, of course, absolutely, I said so on Monday, but it’s tricky.

They should simultaneously announce that they are selling stock and closing all stores to move to an online gaming platform with money raised from the stock sale.

A big FUCK YOU to everyone and probably the only long term hope this company has.

[Cheeseweasel 26438]

1 minute ago, Anastasis said:

 

 

For anyone who thinks it's Dems vs. Repubs let this be a wake up call. It's RICH PEOPLE'S MONEY against EVERYONE ELSE.

[Bone3421 716]

$25 BB call looking spicy. This shit is just nuts.

Ikr....want gme to squeeze so I can buy some options with the profits

[Errestaurants 2570]

23 minutes ago, Anastasis said:

 

Chamath and Tom Lee are my favorite CNBC guests. Can listen to those two all day. 

[LABEVO 928]

 

[Hank_Hill 18896]

That Biden tweet making me take a hard look at my shares.

[The Royal We 3072]

4 minutes ago, LABEVO said:

 

Why in the blue fuck would they be bailed out!?  Fuck them, they need(ed) better Risk Managers not a goddamn bailout. 

[ChickenSandwich 9853]

5 minutes ago, LABEVO said:

 

Fuck that. Let them burn. 
 

Stay the fuck out of this you greasy ass politicians. 

[Burt Macklin 19053]

22 minutes ago, Hank_Hill said:

$25 BB call looking spicy. This shit is just nuts.

I bought some stock at 13. Really regretting not grabbing an option too. 

[Cheeseweasel 26438]

Just now, The Royal We said:

Why in the blue fuck would they be bailed out!?  Fuck them, they need(ed) better Risk Managers not a goddamn bailout. 

 

Just now, ChickenSandwich said:

Fuck that. Let them burn. 
 

Stay the fuck out of this you greasy ass politicians.