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re: If the SEC or Fed steps in to help the Wall Street institutions that shorted GME....
Posted on 1/27/21 at 10:28 pm to fallguy_1978
Posted on 1/27/21 at 10:28 pm to fallguy_1978
quote:
Almost every platform went down at almost the exact same time for 30 minutes - Etrade, Fidelity, Schwab etc? Unless the actual exchanges claim they went down that seems extremely unlikely.
I work in IT and I'm pretty experienced with web traffic and it taking sites down. The likelihood of them all going down at once being a coincidence is almost 0.
MARKET MANIPULATION
0
Posted on 1/27/21 at 10:44 pm to castorinho
quote:
Man, you may not be following this thing closely.
I'm usually the "benefit of the doubt" naive guy, but this is pretty clear to me and I have no skin in the game.
I'm just not going to swayed by a bunch of "stick it to the man" folks who are paranoid about the man (not suggesting that's you, but that's the majority of folks who are worried about it).
What can the SEC even do to stop this? Seriously. There are no tools in the bag here.
ETA- See the people in this thread that think the free platforms going down is some kind of market manipulation, for example.
The GME, AMC, etc. squeezes are fascinating to me, and more power to the little guys that made bank on these positions, but the paranoia is unwarranted IMO.
ETA.2 - Even halting the stock for 30 days would be futile. Someone will be left holding the bag, we both know that, but it's not like a halt will stop the mechanics once it reopens.
This post was edited on 1/27/21 at 10:51 pm
Posted on 1/27/21 at 10:46 pm to fightin tigers
quote:
The autist on reddit may not realize what they have started.
I think they know exactly what they have started
To the moon.
Posted on 1/27/21 at 10:56 pm to slackster
What trading platforms aren't free these days?
Posted on 1/27/21 at 11:01 pm to stout
quote:
quote:
A bunch of kids with a few thousand to invest drove the stock up. Many sold out and paid off their mortgages and student loans.
One guy made $50 million so far but what you dont see is that there will be many late to the game that will catch the falling knife.
Now it's ready to short IMO
He didn't make that much yet - because he can't sell it off. The potential is for him to sort of fleece all these latecomers as an exit strategy but I don't think he can start selling off big chunks like that without triggering the eventual crash/.
At least that is my take
The Reddit / WSB takes it hat since the stock was shorted so much, that there won't be any shares for them to purchaser (if the Redditers all hold). That level of coordination would be very, very impressive.
This is a pretty good article about a massive short squeeze on VW in 2008; however, the difference is that Porsche and the German Government controlled 95% of the stock at that point and so a coordinated effort not to sell was much easier.
LINK
It is all pretty fascinating, can't wait to read whatever book or documentary comes out next year.
This post was edited on 1/28/21 at 1:26 am
Posted on 1/27/21 at 11:03 pm to Pendulum
quote:
What trading platforms aren't free these days?
The ones that didn’t crash.
Seriously though, you could have called your local UBS, JPMorgan, Edward Jones, Raymond James, LPL, etc and placed a trade without a problem this morning, but it wouldn’t have been free.
Eta- I’m not sure why some of you seem offended by this. Many of those same free, do it yourself platforms failed a few times during the March volatility. It’s going to happen again one day. It’s the cost of doing business. Free trades are great, but you can’t be surprised when they fail under immense traffic and trading volume.
This post was edited on 1/27/21 at 11:12 pm
Posted on 1/27/21 at 11:03 pm to fightin tigers
quote:
I saw someone recommend that Gamestop sell off a lot of shares and cover their debts.
I belive this is what AMC has done (they may have already been preparing to do that) to raise capital to last through COVID.
Of course they have a feasible business model once COVID lockdowns dissipate
Posted on 1/27/21 at 11:11 pm to jimbeam
quote:
quote:
The autist on reddit may not realize what they have started.
This is WAY exacerbated by the extremely short position.
Ya, for some reason I have a feeling that a solid chunk of these profits are going to be given back attempting to do similar things to nokia and other companies that don't have that same sort of perfect storm - also other people trying to jump into those new stocks which don't have the same underlying preconditions.
Posted on 1/27/21 at 11:15 pm to Sneaky__Sally
quote:
Ya, for some reason I have a feeling that a solid chunk of these profits are going to be given back attempting to do similar things to nokia and other companies that don't have that same sort of perfect storm - also other people trying to jump into those new stocks which don't have the same underlying preconditions.
Does anyone ever actually cash out on r/wallstreetbets
Seems everyone just keeps doubling down
Posted on 1/27/21 at 11:19 pm to Ross
That is what I'm saying - call me jaded but if I was holding $22,000,000 in gamestop stock that would likely absolutely crash if I started unloading it, best way to get out would be to make sure nobody else was selling and keep hyping it up so new people keep buying.
Luckily it sounds like most people are throwing in $350 here, $1,000k there at this point so hopefully there won't be too many late comers losing just massive amounts of money.
Luckily it sounds like most people are throwing in $350 here, $1,000k there at this point so hopefully there won't be too many late comers losing just massive amounts of money.
Posted on 1/27/21 at 11:21 pm to stout
quote:
One guy made $50 million so far but what you dont see is that there will be many late to the game that will catch the falling knife.
I believe the $50M he made was still mainly in the position. Selling is the tricky part.
Posted on 1/27/21 at 11:22 pm to goofball
Who would stop stock prices from rising if not for the government?
Posted on 1/27/21 at 11:32 pm to Ross
quote:
Does anyone ever actually cash out on r/wallstreetbets
Seems everyone just keeps doubling down
That’s what makes the sub so entertaining. I got lost there from a PersonalFinance thread and was amazed by their boldness
Posted on 1/28/21 at 12:14 am to Sneaky__Sally
He cashed out almost $14MM so far. He's still holding about $32MM in unrealized gains. It's smart on his part.
Posted on 1/28/21 at 1:11 am to biggie
No doubt, the math behind it makes sense for it to continue going up - but I just don't know what sort of behind the scenes things can / will take place as they figure out how to handle this whole short scenario.
Posted on 1/28/21 at 1:17 am to Sneaky__Sally
Tough to be in his position, as he’s essentially the de-facto leader. I guess in his eyes, what’s the difference between 18MM and 50+MM. I think he’ll continue to shed shares this week. When this eventually drops, he’ll probably let some shares go down with the ship.
Posted on 1/28/21 at 1:39 am to biggie
I think that is what is going to make this whole thing so interesting to watch play out. The porsche thing in 08 was still really between two hedge funds, but a lot of these reddit people are still throwing in at this point and are out for their pound of flesh.
Some are not even looking to get rich but just to try and screw over the financial industry if possible. They will throw in $300 and don't care if they go down with the ship.
I am just curious as to how many shares they actually control at this point, because some institutional investors have certainly jumped in. I also don't really understand enough to know if the broker is able to turn around and sell the stock that just got returned to them to another short seller who can also return it to them - it sounds like the only that could make this thing get back to normal with a short interest ratio over 100%.
All the floated shares aren't technically even available since tons of these WSB people seem all in on going down with the ship.
Some are not even looking to get rich but just to try and screw over the financial industry if possible. They will throw in $300 and don't care if they go down with the ship.
I am just curious as to how many shares they actually control at this point, because some institutional investors have certainly jumped in. I also don't really understand enough to know if the broker is able to turn around and sell the stock that just got returned to them to another short seller who can also return it to them - it sounds like the only that could make this thing get back to normal with a short interest ratio over 100%.
All the floated shares aren't technically even available since tons of these WSB people seem all in on going down with the ship.
This post was edited on 1/28/21 at 1:40 am
Posted on 1/28/21 at 2:14 am to Ross
quote:
I’d say it would finally be the shot across the bow that ends a lot of the pointless left/right arguments and shows everyone that we are all equally worthless in the eyes of the elite
Thank you!
Posted on 1/28/21 at 2:29 am to biggie
Y’all all realize that there is something much larger going on here than just autists pumping and dumpling? Right?
I hope.
Do you understand that autists who own GME call options that are ITM (in the money) that expire this Friday are going to execersize the options? That’s right. Not selling before expiration.
This was posted, then removed, then reposted again. I will put it here for all to read.
Godspeed to the OT
I hope.
Do you understand that autists who own GME call options that are ITM (in the money) that expire this Friday are going to execersize the options? That’s right. Not selling before expiration.
This was posted, then removed, then reposted again. I will put it here for all to read.
Godspeed to the OT
Posted on 1/28/21 at 2:36 am to TchoupitoulasTiger
Why do they all call themselves autists?
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