Market Shenanigans. GME, Reddit, and more

[cactusflinthead 27,593]

You think ewarren and bern want to flip some tables?

 

[Bateshorn 9,882]

Bern? No, he doesn’t give a fuck about either Big Wall Street Or the WSB bros. 

Warren? Yes, but not in the way you think.  She’d like to both reign in the big boys while nanny stating the fuck out of the little guy. 

Edited January 28, 2021 by Bateshorn

[SydneyCarton 47,809]

Zero sympathy to the wall street fuckfaces here. Listening to them bleat about how it's unfair on the finance shows warms my coal heart while also pissing me the fuck off. You got beat, you're used to being the house and the marks filed in and whipped your fucking asses. Take the loss.

And of course, the irony here moving forward will be wonderful. Oh, you want more regulation in Wall Street? Well right this way...

[cactusflinthead 27,593]

I don't know enough about it. That's why I made this. I was getting close to going over the line from straight news and into CR.

Wsb is getting the attention of the media. The big boys don't like it when you start cutting into their game. Wsb is getting the attention, but I know there are some sharks pushing the short squeeze too.

 

[wildcat09 29,187]

This isn't really a story of the little guys finally getting one over on the big boys. Plenty of big boys are getting very rich off of this shit too. 

[RPM 26,185]

It's all a house of cards that will eventually crumble. But seeing Wall Street aholes that bet on a company to die deserve to be gutted. 

 

[Bateshorn 9,882]

20 minutes ago, cactusflinthead said:

I don't know enough about it. That's why I made this. I was getting close to going over the line from straight news and into CR.

Wsb is getting the attention of the media. The big boys don't like it when you start cutting into their game. Wsb is getting the attention, but I know there are some sharks pushing the short squeeze too.

 

I guess I should be a little more specific:  Bern isn't a policy guy.  He truly believes in Social Democracy, but he's not a wonk. I'm sure Elizabeth Warren has many, many, many thoughts tho.

[cactusflinthead 27,593]

5 minutes ago, wildcat09 said:

This isn't really a story of the little guys finally getting one over on the big boys. Plenty of big boys are getting very rich off of this shit too. 

Me sabe.

But, that's not who's getting the eye of the regulators nor who is getting shut out of making buys. 

Gamma delta theta math heads are having a hard time dealing with irrational behavior. That's been a recurrent problem with markets in general. The rational people can't figure out the irrational ones. And they're not going to. That was fine until it started fucking with their bottom line.

I can't explain the drive to fuck with hedge funds. Other than it appeals to both left and right to poke them with what appears to be a very sharp stick. After seeing companies run into the ground and losing their life savings in the process the hedge funds and Wall Street have made a lot of enemies.

[Hugo Stiglitz 23,356]

46 minutes ago, cactusflinthead said:

You think ewarren and bern want to flip some tables?

 

[aggie08 21,379]

Can someone explain this to me like I went to Texas A&M? Crayon drawings will suffice. I've been checked out from even loosely following the market for months.

[High Plains Drifter 10,970]

 

 

2 minutes ago, aggie08 said:

Can someone explain this to me like I went to Texas A&M? Crayon drawings will suffice. I've been checked out from even loosely following the market for months.

 

 

I'll try to explain it to you like a five year old (which is my level of understanding) explaining it to another five year old:

 

Gamestop is a failing company.

Wall street big wigs were betting on that happening, hoping to make money on GameStop's falling stock prices (called "shorting the stock"). This is common practice.

reddit yahoos start buying up GameStop stock, causing the stock price to rise extremely fast (over 100% in a day, over 1000% this month I believe).

Wall street big wigs cry foul, because the higher the stock goes, the more money they lose.

Some see this as the little guy finally putting it to the big guy. Others see this as market manipulation.

The irony as pointed out above is that now the Wall street big wigs want market regulation (because now they are losing money).

[Bateshorn 9,882]

3 minutes ago, aggie08 said:

Can someone explain this to me like I went to Texas A&M? Crayon drawings will suffice. I've been checked out from even loosely following the market for months.

A bunch of hedge funds bet against game stop.  But the information that they did was actually public.  A bunch of basement dwelling gambling addicts/gamers/small time investors figured that out and sorta unified by buying GME stock to use the mechanics of the market against the hedge funds and bankrupt them.  It became a self reinforcing cycle and the price has gone through the roof.  It will eventually collapse, like all bubbles, but a bunch of rich CT assholes just lost an insane amount of money to an army of socially retarded neck beards. 
 

instead of explaining short selling, watch Trading Places and pay attention during the last half hour. 

[Brisketexan 104,462]

7 minutes ago, aggie08 said:

Can someone explain this to me like I went to Texas A&M? Crayon drawings will suffice. I've been checked out from even loosely following the market for months.

1 -- Gamestop sells video games.

2 -- nerds love video games.

3 -- nerds hate rich bankers in their fancy car with their hot wives with fake boobs.

4 -- ???

5 -- profit.

 

[ConferenceRoom 6,123]

2 minutes ago, Brisketexan said:

1 -- Gamestop sells video games.

2 -- nerds love video games.

3 -- nerds hate rich bankers in their fancy car with their hot wives with fake boobs.

4 -- ???

5 -- profit.

 

Nerds hate GameStop. 

[High Plains Drifter 10,970]

2 minutes ago, Bateshorn said:

A bunch of hedge funds bet against game stop.  But the information that they did was actually public.  A bunch of basement dwelling gambling addicts/gamers/small time investors figured that out and sorta unified by buying GME stock to use the mechanics of the market against the hedge funds and bankrupt them.  It became a self reinforcing cycle and the price has gone through the roof.  It will eventually collapse, like all bubbles, but a bunch of rich CT assholes just lost an insane amount of money to an army of socially retarded neck beards. 
 

instead of explaining short selling, watch Trading Places and pay attention during the last half hour. 

 

 

this time, this time only, #teamsociallyretardedneckbeards

 

[Continental Op 3,934]

All I know is that the PR campaign unleashed by big money is working like gangbusters and small investors are being painted as villains here even through tons of the big boys are at the buffet as well.  One of the hosts on The Ticket in Dallas was on there referring to this as a "ponzi scheme" this morning.  

[DonkeyCigars 144]

37 minutes ago, wildcat09 said:

This isn't really a story of the little guys finally getting one over on the big boys. Plenty of big boys are getting very rich off of this shit too. 

While you are right in that the little guys/wsb are the meat shields at the front of the infantry line here and there are plenty of institutional investor tanks and generals really pushing this thing; when you win the battle everyone who took arms and survived should get their fair share of spoils.

I feel like your attitude is the wrong one to take here and I hope it's not reflective of the government's in general, because it's a bad PR/optics position, as there truly has been an organic, little guy, grass roots movement here (even if it's been overblown by word of mouth and clumsy mainstream media). Both can be true.

But any optics that makes it look like the new government regime is bailing out Wall St. or helping the big money, and handicapping the little guy, is bad politics. So I expect the Democrats to screw it up somehow.

Edited January 28, 2021 by DonkeyCigars

[wildcat09 29,187]

1 minute ago, DonkeyCigars said:

While you are right in that the little guys/wsb are the meat shields at the front of the infantry line here and there are plenty of institutional investor tanks and generals really pushing this thing; when you win the battle everyone who took arms and survived should get their fair share of spoils.

I feel like your attitude is the wrong one to take here and I hope it's not reflective of the government's in general, because it's a bad PR/optics position, as there truly has been an organic, little guy, grass roots movement here (even if it's been overblown by word of mouth and clumsy mainstream media). Both can be true.

But any optics that makes it look like the new government regime is bailing out Wall St. or helping the big money, and handicapping the little guy, is bad politics. So I expect the Democrats to screw it up somehow.

And they're already getting fucked by the trading platforms.

[TwiceHorn 31,184]

The only thing "wrong" that investors did was act in concert, through reddit, to begin buying GME stock.  That concerted buying started pushing the price up, which caused the shorts to have to buy more stock, driving the price even further up and further inserting penis into rectum of short sellers.

Shorts are pretty notorious for putting information into the market that drives the stock price down.  Sometimes that information has a casual relationship to the truth or to the "business case" against a stock.

Here, the longs bought GME without a real "business case" for believing it would or should go up, except to create the short seller ouroborus.

The shorts got hoist on their own petard.

[Js1 85,056]

9 minutes ago, ConferenceRoom said:

Nerds hate GameStop. 

They can take their $340 stock to GameStop and get a $12 store credit. 

[Macanudo 12,922]

12 minutes ago, Bateshorn said:

A bunch of hedge funds bet against game stop.  But the information that they did was actually public.  A bunch of basement dwelling gambling addicts/gamers/small time investors figured that out and sorta unified by buying GME stock to use the mechanics of the market against the hedge funds and bankrupt them.  It became a self reinforcing cycle and the price has gone through the roof.  It will eventually collapse, like all bubbles, but a bunch of rich CT assholes just lost an insane amount of money to an army of socially retarded neck beards. 
 

instead of explaining short selling, watch Trading Places and pay attention during the last half hour. 

Especially the part with the guy in the gorilla suit.

[wildcat09 29,187]

1 minute ago, Js1 said:

They can take their $340 stock to GameStop and get a $12 store credit. 

And a Game Informer subscription.

[Brisketexan 104,462]

1 minute ago, Macanudo said:

Especially the part with the guy in the gorilla suit.

This cannot be overstated.

[Hugo Stiglitz 23,356]

3 minutes ago, TwiceHorn said:

The only thing "wrong" that investors did was act in concert, through reddit, to begin buying GME stock.

I’m having trouble with this one.  It’s not like the people on Reddit entered into a contract to act in concert as part of a larger pump and dump scheme.  Seems like the behavior was more of an organic organizing effort. 

[Captainant 27,309]

The root issue here is that hedge funds shorted (read: pre-sold) 140% of GME's available shares. And when the public found out, they squeezed the fuck outta the available shares and drove the price to the moon because the demand for shares to fulfill the outstanding contracts vastly outweighed the supply of stock.

It's a beautiful thing to see reddit fuck over hedge funds, but this sort of thing is only gonna continue due to the glut of liquidity in the market from the trump admin. This big ol bubble is gonna pop and we're gonna have a bad time with no brakes

[DonkeyCigars 144]

13 minutes ago, wildcat09 said:

And they're already getting fucked by the trading platforms.

Yep. Any smoke or hint that the platforms took their cue from Yellen or Warren is bad. I hope for Biden's sake it wasn't and they are playing it smart and keep up with vagaries like "we are keeping an eye on the situation". 

[wildcat09 29,187]

Just now, DonkeyCigars said:

Yep. Any smoke or hint that the platforms took their cue from Yellen or Warren is bad. I hope for Biden's sake it wasn't and they are playing it smart and keep up with vagaries like "we are keeping an eye on the situation". 

They didn't take their cue from the fucking government, they took it from their industry friends who were getting nervous.

[DonkeyCigars 144]

2 minutes ago, wildcat09 said:

They didn't take their cue from the fucking government, they took it from their industry friends who were getting nervous.

Yea, I agree and think that is right, I'm just saying that if it even starts to smell fishy, they should run away from it. Like if HF or Wall Street starts asking for favorable policy or regulations against little guys or, God forbid, a thinly veiled bail out.

I don't think it will happen, but then again, crazier things have.

And can you imagine the conspiracy theories around the government that would explode if neckbeards get even a hint of someone in a government positioning doing something-- we are talking about reddit after all. I just think the government has to steer way clear here and let this grease fire burn out on it's own.

Edited January 28, 2021 by DonkeyCigars

[Haphap 741]

33 minutes ago, aggie08 said:

Can someone explain this to me like I went to Texas A&M? Crayon drawings will suffice. I've been checked out from even loosely following the market for months.

some  already explained above but putting it here
 

 

[TwiceHorn 31,184]

7 minutes ago, Hugo Stiglitz said:

I’m having trouble with this one.  It’s not like the people on Reddit entered into a contract to act in concert as part of a larger pump and dump scheme.  Seems like the behavior was more of an organic organizing effort. 

Hence the quotes.

It's no different from the early, if not inside, information that brokerages get/share that causes them to act "in concert."

[hayden_horn 11,360]

gme is tanking, because of the halted trading. 

it's fucking bullshit.

"the wrong people are making money"

[Captainant 27,309]

Just now, TwiceHorn said:

Hence the quotes.

It's no different from the early, if not inside, information that brokerages get/share that causes them to act "in concert."

Except in this case they used public info and discussed it out in the open on an unrestricted forum

[Biff Tannen 45,477]

16 minutes ago, Captainant said:

This big ol bubble is gonna pop and we're gonna have a bad time with no brakes

All gas, no brakes baby!  /sharkisian

[Nice Guy Eddie 13,391]

Saw some TV stock analysts whining that pension funds are getting caught up in the losses as well. Why its true that some innocent people could see problems with this story, it's also important that pensions need more oversight on the investment companies they are utilizing. Perhaps pensions and retirement managers need to stop selecting investment firms based on the location (Vegas, Bahamas) of the annual trip the fund managers are taking them.  

[Pescado_Rojo 19,327]

33 minutes ago, TwiceHorn said:

The only thing "wrong" that investors did was act in concert, through reddit, to begin buying GME stock.  That concerted buying started pushing the price up, which caused the shorts to have to buy more stock, driving the price even further up and further inserting penis into rectum of short sellers.

Shorts are pretty notorious for putting information into the market that drives the stock price down.  Sometimes that information has a casual relationship to the truth or to the "business case" against a stock.

Here, the longs bought GME without a real "business case" for believing it would or should go up, except to create the short seller ouroborus.

The shorts got hoist on their own petard.

Not entirely true. Game Stop's earnings came in better than expected, largely on the strength of their on line business. They also picked up a new investor (the guy that started Chewy.com) with experience in on line business, so there's some effort to move their business to digital. Maybe it's tenuous, but probably no more so than the info the hedge funds used to start their whisper campaign to short the stock. 

[89Horn 1,490]

57 minutes ago, aggie08 said:

Can someone explain this to me like I went to Texas A&M? Crayon drawings will suffice. I've been checked out from even loosely following the market for months.

Asking for an explanation reminds me of this movie scene:

 

[bad_teammate 13,125]

1 hour ago, wildcat09 said:

This isn't just really a story of the little guys finally getting one over on the big boys. Plenty of big boys are getting very rich off of this shit too. 

fixed

I hope this is an inflection point in igniting class consciousness among a larger group of people.

 

[Pescado_Rojo 19,327]

24 minutes ago, hayden_horn said:

gme is tanking, because of the halted trading. 

it's fucking bullshit.

"the wrong people are making money"

I hope they can class-action the fuck out of Robinhood and put them out of business if this saves the short sellers and fucks the WSB guys. 

[Hugo Stiglitz 23,356]

 

[Mrs Whiggins 13,049]

 

[Sbbruin 21,697]

1 hour ago, Bateshorn said:

instead of explaining short selling, watch Trading Places and pay attention during the last half hour. 

Are you saying it's all because of this terrible, awful negro?

[Dr. Teeth 5,813]

Guys I think if we let hedge funds off scot-free again, they will probably learn their listen now. It has to work sometime or else why would we keep letting them get away with it?

[Bateshorn 9,882]

5 minutes ago, Sbbruin said:

Are you saying it's all because of this terrible, awful negro?

I mean this is America, so at some point Fox News is going to blame it on black people.

[washparkhorn 9,931]

40 minutes ago, Captainant said:

The root issue here is that hedge funds shorted (read: pre-sold) 140% of GME's available shares.

Agree. The Hedgies shorting 140% of a stock is greedy as fuck and deserving of market punishment. They thought they were immune from market forces.  Now they are hinting a bailout might be needed.

Shorting 100% of a stock is dangerous; shorting 140% of a stock is asking for an ass-kicking. 

[Anastasis 23,375]

55 minutes ago, TwiceHorn said:

The only thing "wrong" that investors did was act in concert, through reddit, to begin buying GME stock. 

I think that you have to start the accounting of "Wrong" with the guys shorting 140% of the float. The self-proclaimed austists on reddit found the weakness and exploited it for their gain. The big money guys were taking it in the shorts, and had to respond by manipulating the market by locking out buying of the stock and spooking the trade before the autists landed their rockets on the moon. 

[Brisketexan 104,462]

5 minutes ago, washparkhorn said:

Agree. The Hedgies shorting 140% of a stock is greedy as fuck and deserving of market punishment. They thought they were immune from market forces.  Now they are hinting a bailout might be needed.

Shorting 100% of a stock is dangerous; shorting 140% of a stock is asking for an ass-kicking. 

This.  Come on, Repubs and such -- aren't people responsible for the consequences of their decisions....and aren't corporations people?

The hedge funds fucked around, and fucked around, and fucked around.

And now....the finding out.

Seems like in the future, they will consider the possible consequences of fucking around before they fuck around.  Nothing teaches a lesson like touching the hot stove.

Edited January 28, 2021 by Brisketexan

[We’reTexas 1,467]

24 minutes ago, Pescado_Rojo said:

Not entirely true. Game Stop's earnings came in better than expected, largely on the strength of their on line business. They also picked up a new investor (the guy that started Chewy.com) with experience in on line business, so there's some effort to move their business to digital. Maybe it's tenuous, but probably no more so than the info the hedge funds used to start their whisper campaign to short the stock. 

And Michael Burry went long on it back in August. And, of course, DeepFuckingValue - who started all this - has been posting YouTube videos for a year. 

[Bateshorn 9,882]

4 minutes ago, washparkhorn said:

Agree. The Hedgies shorting 140% of a stock is greedy as fuck and deserving of market punishment. They thought they were immune from market forces.  Now they are hinting a bailout might be needed.

Shorting 100% of a stock is dangerous; shorting 140% of a stock is asking for an ass-kicking. 

And that’s where the Big Short comparison becomes very apropos: a bunch of small time Michael Burrys      figured out that it was a perfect trade and went to pound town. 

[Anastasis 23,375]

Funny how all the institutions are able to move so quickly to favor one side of the trade when some hedge fund managers are getting their asses pounded, but not one fucking finger lifted when those hedge fund managers are pulling shitty and likely illegal moves to put a business of out business and their thousands of employees out of jobs.  

[Michael Knight 12,863]

ain't late stage capitalism grand?

 

 

 

Edited January 28, 2021 by Michael Knight