re: So I bought some Gamestop(GME)

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Dude has made $13M from a $53k investment, and he’s set up for life. We’re all jealous. But I would never have held that long so I have a crazy amount of respect for him

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This.

I would have paper handed 12 million ago or maybe even sooner lmao

So this has basically become a pissing match between Reddit and Melvin now?

Good analysis by that guy, but let's note his speculation of what he Melvin bailout means.

Does it mean that Melvin is about to triple down? Doesn't it mean that melvin now has the liquidity to exit their positions and stop the bleeding? We don't know. Melvin and the other funds have plenty of tools at their disposal in this battle but we don't know how it's going to play out.

Stimulus is already priced into the market imo. I don't think we'll see much of a pop if it gets passed.

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has basically become a pissing match between Reddit and Melvin now?

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not at all

this has transcended into a national event. it was on every news station. every social media. influencers with millions of followers are tweeting about it.

this is historical

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We don't know.

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but what we do know is that a multi billion dollar hedge fund is down 30% in the easiest market in history while amateurs are throwing darts and booming double/triple digit returns. Certainly unsustainable but you learn by doing, and participation in the stock market is at an all time high.

this bodes well

Good primer on where we are at, how we got there and why the media is bullshite

Long video and a lot of us in this thread already know everything he's saying, but if someone who doesn't really get what's going on is reading this thread, this is a decent synopsis that explains it in plain english.

i also think it's bizarre that reddit hasn't figured out an effective way to monetize all this attention

robinhood is like weeee right now

There’s some sentiment that paid shills are posting about NOK to distract money and/or attention away from GME. The posters starting topics on NOK have random reddit accounts that have never posted anything about stocks or finance.

It seems plausible that this is the case.

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Does it mean that Melvin is about to triple down?

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No - WSJ reported that Melvin had already sterilized the position by last week. Further, a quick look at the last 13F and we can see Melvins GME position consisted of puts and the total value of those puts was $55M on a $20B/$13B levered/unlevered portfolio.That's 0.27% of Melvins portfolio. Not exactly an earth-shattering position.