GameStop + Robinhood + Reddit

[freebeard]

Originally Posted by RedDevil

I watch Hyperchange since a couple of weeks.
I like his take on this.

If it's only a couple of weeks you may not know that Galileo brought Mark Frohnmayer and Sandy Munro together. He's now on Arcimoto's Board now.

He's right about buying on the margin. Hedge funds don't disclose their shorts?

In November we found out about elections overnight. In January it's the stonk market.

'Awokening', LOL.

[RedDevil]

I knew that. I even bought some Arcimoto shares again when I learned he joined the board even though I think they're a bit overvalued, but then they do interesting things these last weeks.
I had seen Gali often before and couldn't see past his ADHD ways at first, but time and again he seems to hit the right key. Awokening, indeed

Sold my 2 MCE shares at $15 2 hours after I bought them for $12.
I fell asleep on the couch and found I bought them again at $12.2.
If it keeps moving up and down like this I may gradually increase my position while not ever having spent more than my initial $24, adding a little bit of stability and ever so slightly helping to squeeze out the shorting hedge funds.
Most of all it is entertainment while I watch my other stock positions do about nothing all week.

[freebeard]

#TheJimmyDoreShow
Glenn Greenwald & Dylan Ratigan on Gamestop & Rigged Economy

This is pretty good. I clicked at two hours in, so I don't know, but they're on about Section 230 and Pelosi buying Tesla stock. It's devolved into reading superchats and then it goes behind a paywall.

Far-reaching ramifications.

edit:
Krystall and Saagar, and Tim Pool, are doing pretty well. This is like turning over a rock and watching things scurry away.

[Cd]

Sears stock is now SHLDQ - so it's no longer trading from what I understand.
It is currently at 0.45 - so less than half a penny.

Is there some hope that this sort of thing could happen with SHLD stock ?

The president of Sears is a hedge fund manager and dug Sears into the ground to make a profit.

I have $10,000 ( bought at $81 a share ) invested from my savings that I cashed in, and I would rather ride it down to zero, than to cash in at what it is worth now.

I hate to think that I not only burned $10,000, but that I just gave it away to some rich guy that cheated thousands of people.

I sometimes do the math.
I could have bought nearly $200 in groceries for a family in need.
Every week !
For an entire year !

[freebeard]

Seventy BILLION Dollar Loss For Wall Street As WallStreetBets Shenanigans ROCK The Market

5000 stocks in the same boat. They're playing Whack-A-Mole.

Didn't take long for the current regime to unravel. But we do have a female Secretary of the Treasury.

[redneck]

Originally Posted by freebeard

Seventy BILLION Dollar Loss For Wall Street As WallStreetBets Shenanigans ROCK The Market
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[freebeard]

That was just a 'proof of concept'.

[Xist]

The company that owns Robinhood also owns the hedge fund company that decided to short GameStop, so it makes sense that they would freeze the stock to maybe sort of save themselves, but how do they buy back more stocks than exist in-time?

One of the first redditors to jump on the GameStop train invested $53,000. He needed to sell $13M when they were called, and he has half of his stock, without any calls in the near future.

This stock increased 24x in 28 days.

I haven't seen anyone complaining about the redditors, but I have been following on Imgur, and everyone is on the side of the redditors, while making fun of the hedge fund managers and their apologists.

In this Linus Tech Tips livestream, the unspecified man on the left says "I will buy 5x the GameStop stock that you guys fund with superchats, up to $50,000."

Then he calls his wife and tells her about it.

"We'll discuss this later."

I don't know how much he received, but apparently it was over $10,000, and towards the end he said "Stop giving us money! We are already over the limit!"

So, they will buy the first thing Monday morning. Will it be at $500? Will it be at $100? Nobody knows!

Someone commented: "The goal isn't to ride them into the ground from here, but to hold in order to force the short contracts to expire and make them pay through the nose to fulfill them."

I don't have any idea how the hedge fund can recover because they need to sell more stocks than exist. Two other hedge funds gave Citadel a $2.75B bailout.

How long will that last?

For how long do you think that Linus will hold onto his stock? Will he try to outlast the hedge funds? Will he wait a week, see how high it gets, and then sell once he can get a decent price?

Will he end up just trying to time the market and recover his money?

https://www.youtube.com/watch?v=Ic7NhQ62njg

I don't know that Graham Stephan's video cost him any money, but he posted it after buying his Model 3, and he has 7.2M views so far.

At first he allegedly paid $78 a month.

He didn't.

Then he allegedly got it for free. Rather, his video paid for his car.

Then his video turned a profit, but each video received fewer views than the previous ones.

It seems like YouTube channels that spend lots of money in entertaining ways manage to turn a profit on it, so maybe he will at least break even from his stock and turn a profit from the video.

Maybe his wife will leave him, take the kids, and half of his money.

It's exciting!

[jakobnev]

...and half of his money.

She has to wait and see what the stock does first!

[RedDevil]

She then may have to leave and rejoin her spouse more often than I do - for groceries!

(Still walking the groceries as part of my 10 km/day walks. I now have a thin cloth rucksack in my coat pockets, that allows for some mild hoarding if the occasion arises.)