Reddit poster goes from $50k to $11 million off Gamespot stock( now $48 mil)

Spectre

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Melvin Capital, hedge fund targeted by Reddit board, closes out of GameStop short position

PUBLISHED WED, JAN 27 20216:20 AM ESTUPDATED WED, JAN 27 20214:21 PM EST

GameStop was the single most traded name in the U.S. stock market on Tuesday, topping Tesla and Apple, even though they are 81 and 233 times larger in market cap terms, according to Deutsche Bank strategist Jim Reid.

Amid GameStop’s explosive rally, short sellers have accumulated losses of more than $5 billion year to date in the stock, including a loss of $917 million on Monday and $1.6 billion on Friday, according to data from S3 Partners.


Short seller Andrew Left of Citron Research said Wednesday he has covered the majority of his short position in GameStop at a loss. He previously said GameStop will fall back to $20 a share “fast” and called out attacks from the “angry mob” that owns the stock.

Investor Michael Burry said in a now-deleted tweet Tuesday that trading in GameStop is “unnatural, insane, and dangerous” and there should be “legal and regulatory repercussions.” Burry shot to fame by betting against the housing bubble and was featured in Michael Lewis’ book “The Big Short.”

The Securities and Exchange Commission declined to comment.

Social Capital’s Chamath Palihapitiya is among those who jumped into the stock, saying in a Tuesday tweet that he bought GameStop call options betting the stock will go higher. His tweet seemed to intensify the rally in the previous session. The stock ended the day 92% higher at $147.98.

After Tuesday’s closing bell, Elon Musk commented on the mania, linking it to the “wallstreetbets” Reddit chat room. The Tesla CEO tweeted to his 42 million followers “Gamestonk!!” The comment [URL='https://www.cnbc.com/2021/01/26/gamestop-jumps-as-elon-musk-tweets-out-reddit-board-thats-hyping-stock.html']appeared to help send GameStop shares soaring in extended trading Tuesday.[/URL]
 

ORDER_66

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Melvin Capital, hedge fund targeted by Reddit board, closes out of GameStop short position
PUBLISHED WED, JAN 27 20216:20 AM ESTUPDATED WED, JAN 27 20214:21 PM EST

GameStop was the single most traded name in the U.S. stock market on Tuesday, topping Tesla and Apple, even though they are 81 and 233 times larger in market cap terms, according to Deutsche Bank strategist Jim Reid.

Amid GameStop’s explosive rally, short sellers have accumulated losses of more than $5 billion year to date in the stock, including a loss of $917 million on Monday and $1.6 billion on Friday, according to data from S3 Partners.


Short seller Andrew Left of Citron Research said Wednesday he has covered the majority of his short position in GameStop at a loss. He previously said GameStop will fall back to $20 a share “fast” and called out attacks from the “angry mob” that owns the stock.

Investor Michael Burry said in a now-deleted tweet Tuesday that trading in GameStop is “unnatural, insane, and dangerous” and there should be “legal and regulatory repercussions.” Burry shot to fame by betting against the housing bubble and was featured in Michael Lewis’ book “The Big Short.”

The Securities and Exchange Commission declined to comment.

Social Capital’s Chamath Palihapitiya is among those who jumped into the stock, saying in a Tuesday tweet that he bought GameStop call options betting the stock will go higher. His tweet seemed to intensify the rally in the previous session. The stock ended the day 92% higher at $147.98.

After Tuesday’s closing bell, Elon Musk commented on the mania, linking it to the “wallstreetbets” Reddit chat room. The Tesla CEO tweeted to his 42 million followers “Gamestonk!!” The comment appeared to help send GameStop shares soaring in extended trading Tuesday.

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Good fukk em!!!:pachaha:
 

OnlyOneBoss

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I’m in the WSB discord server rn


shyt is madness :mjlol:



Apparently Elon is lurking in there :ohhh:
 

Spectre

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:blessed:

Watch the SEC change the rules after this :francis:
Oh they'll try find a way

But there's no foul play. It's no different than your average firm.

Group of people see a shorted stock and bet against it, telling more people to bet even more. that usually reaches a point and is short lived

It's not insider info cuz the majority don't know wtf they're doing lol

Might be a once in a lifetime thing unless everyone starts doing the same to other shorted stocks like BB and AMC in droves by the thousands pouring more millions of money...based on open market chatter

It's beautiful

2021 is a new year
 

Afro

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Oh they'll try find a way

But there's no foul play. It's no different than your average firm.

Group of people see a shorted stock and bet against it, telling more people to bet even more. that usually reaches a point and is short lived

It's not insider info cuz the majority don't know wtf they're doing lol

Might be a once in a lifetime thing unless everyone starts doing the same to other shorted stocks like BB and AMC in droves by the thousands pouring more millions of money...based on open market chatter

It's beautiful

2021 is a new year

Bro, you could tell someone to toss in $200 of their check, turn around and pay off student loans :pachaha:


Instead of trickling down, we shakin the tree :ohhh:
 
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