GameStop episode 4: A new Hope of stonks

[Mr Rager]

Biden needs to be careful here.

He shouldn't touch this one. At least not directly.
Occupy Wall St Pt II would be well justified if the government overplays their hand here

 

[Nicole0416_718_929_646212]

One such short seller, Melvin Capital, was effectively KO’d earlier this week, requiring an infusion of nearly $3 billion from hedge funds Citadel and Point72 Capital. On Wednesday, Melvin Capital’s Gabe Plotkin told CNBC that the firm’s short position was closed out the previous afternoon following a huge loss.
....
The volatile world of speculative and derivatives- it was all good until shyt went left and he wasn’t in on the options:


‘Big Short’ Investor Who Once Touted GameStop Calls Rally ‘Unnatural, Insane, and Dangerous’

Dude is big mad - throwing shade and everything. Let the games begin.....

“Investor Michael Burry, head of Scion Asset Management and a major character in The Big Short book and film, said in a now-deleted post on Twitter that he believes there should be legal repercussions for what’s happening with GameStop trading. Burry made a substantial investment on GameStop in 2019 and noted that he’s happy for investors who made money following his initial investment in the retailer.

“If I put $GME on your radar, and you did well, I’m genuinely happy for you,” he wrote in a quickly-deleted Tweet on Tuesday. “However, what is going on now – there should be legal and regulatory repercussions. This is unnatural, insane, and dangerous.”

 

[Mr Rager]

What The Heck Is Going On?
By Brian Warner on January 27, 2021


To keep this as simple as possible, until recently GameStop was literally the most shorted stock on Wall Street. When a stock is shorted, the shorter is betting the price will drop. People with short positions only make money when the stock decreases in price. The risk with short selling is there's unlimited downside.

For some reason, the people who follow r/wallstreetbets decided to coordinate an attack on all the GME shorts by buying up tons of shares, sending the price to the moon, forcing the shorts to "cover" their bets… This actually creates a vicious cycle for the shorts. When the stock suddenly spikes, they are forced to rush in and buy shares back to avoid a potentially unlimited downside. This rush results in even more gasoline being poured onto the fire as the shorts buy more shares at even higher prices. Hence the term "short squeeze".

As a result of this unprecedented short squeeze, it has been reported that some hedge funds who had large short positions are teetering on bankruptcy, having lost hundreds of millions or even billions of dollar in a matter of hours this week.

One hedge fund, which I won't name because these are unconfirmed rumors, was allegedly so damaged that it had to borrow $2 billion from a fellow hedge fund run by the owner of the NY Mets. It has been alleged that the hedge fund proceeded to lose that entire $2 billion bailout the very next day (yesterday).


Andrew Left of Citron, Gabriel Plotkin of Melvin Capital and Loen Shaulov of Maplelane LLC were on the losing end of the price action, pulling out of their positions after likely losing billions

New York Mets owner Steve Cohen had exposure to the turbulent situation as well, after his Point72 Asset Management helped bail out Melvin Capital

New York Mets owner Steve Cohen had exposure to the turbulent situation as well, after his Point72 Asset Management teamed up with Ken Griffin's firm Citadel to inject Melvin with a combined $2.75 billion bailout on Monday to help the struggling fund.

Responding to a worried Mets fan on Twitter who asked if the GameStop situation would impact the team's payroll, Cohen wrote: 'Why would one have anything to do with the other'.

Maplelane Capital LLC, a New York hedge fund that started the year with about $3.5 billion, was down roughly 30 percent for the year through Wednesday, with its bearish GameStop position a significant driver of losses, sources told the Wall Street Journal.



yikes....

fukk em

 

[ORDER_66]

They out for blood. I'm willing to take a loss just to see some of these fat cats humbled.


The GameStop Short Squeeze Shows an Ugly Side of the Investing World

The GameStop Short Squeeze Shows an Ugly Side of the Investing World
Short sellers are thick-skinned, but the nasty comments, insults and threats leveled at them feel like political fights, not investing differences

Andrew Left is no stranger to conflict when it comes to investing. He makes a living betting that companies will stumble, and he calls out executives by name.

Companies and their supporters fight back, but the criticism he normally gets is nothing compared with the venom spewed in recent days by stock traders who have come together online to drive up shares of an unlikely momentum stock, mall retailer GameStop Corp.

“It makes you feel vulnerable,” Mr. Left, 50, founder of Citron Research, said in an interview. “We live in a world where we’re all exposed and people don’t understand boundaries.”

The angry traders have shared his personal information, hacked into Mr. Left’s social-media accounts and texted Mr. Left and his two children, using threatening, profane and personal language, according to people close to the matter.

Nah muthafukka the game is the game and y'all fukked up!!! no so fun when the rabbit got the gun...

 

[CouldntBeMeTho]

so when should we sell?

The word on walstreetbets was hold til it hits 1000. Since thats what everyone is saying itd probably be wise to get out before that point

 

[How Sway?]

everything they're doing is legal.
Maybe if the system cared about regular people instead of these fck bois on wall street, you would have all these folks trying to find roundabout ways to make money than going to somebullshyt job making 13 dollars an hour. fck outta here.

Watch, they'e gonna start finding ways to people attend church more often. Better they focus on White Jesus and the after life while the fat cats check a bag(s)

 

[Afro]

He shouldn't touch this one. At least not directly.
Occupy Wall St Pt II would be well justified if the government overplays their hand here

He touches this and folks will go Red out of spite next election


"Democrats kept the common man from exercising his American right to be a part of the Free Market " - A Republican

 

[RARI_Godwind]

As predicted the clamp comes down. Rich Cacs not taking this lying down.

Expect BIG changes to our access to do this sht and a number of laws to be passed about it within the year.


This bubble and others like it not going to last as long as people might think.


Transfer of wealth, all going according to the pandemic timeline


Don’t ask me how


Lemme get mines first real quick tho

 

[SAINT]

I wonder what kind of implications this situation will have

 

[philmonroe]

Rich People: you broke boys need to pull yourselves up by your bootstraps, this is a free market everyone can eat.



"people pull themselves up by their bootstraps and cost the rich billions"

Rich people: Stop the damn game we need regulation.

Them wall st boys like

 

[JT-Money]

I want to see them humbled too but not at my expense.

I'm still pissed at Wall Street over the money I lost in the 2008 crash. So I'm out for blood and wanting some of them to go Bankrupt. Now they'll know how it feels to lose Big. I'm willing to take the loss since I'm playing with house money and help drive the stock up.

 

[ORDER_66]

I'm still pissed at Wall Street over the money I lost in the 2008 crash. So I'm out for blood and wanting some of them to go Bankrupt. Now they'll know how it feels to lose Big. I'm willing to take the loss since I'm playing with house money and help drive the stock up.

Exactly these dudes have access to billions upon billions of dollars... plus govt contacts and regulatory agencies now they wanna cry about it???! Nah fukk em they'll probably be bailed out by white zaddy sooner or later...

 

[T.H.E. Goat]

fukk em we ball

 

[Mr Rager]

I'm still pissed at Wall Street over the money I lost in the 2008 crash. So I'm out for blood and wanting some of them to go Bankrupt. Now they'll know how it feels to lose Big. I'm willing to take the loss since I'm playing with house money and help drive the stock up.

The House will not lose. Period

 

[JT-Money]

The House will not lose. Period

They already lost Billions shorting Gamestop stock and abandoning their positions. There is no coming back from such a huge L.