/r/wsb autists taking on a wallstreet hedgefund. Elon musk involved as always / wallstreetbets / gamestop - Gamergate 2: financial boogaloo

[Andy Bandy Man]

My actual TV doesn't even have HDMI;
Maybe I'll see if I can buy a used console. . .

It would be even funnier to bump sales numbers up a little bit... well I'll have to see how much they're gonna try to squeze me for old junk.

 

[spacekatguy]

Can't tell you when to exit, you gotta decide for yourself, but check this....

The short ratio hasn't budged. The squeeze hasn't even began.
If Melvin wants to cover their shorts, it's going to take more than just one day to cover, it's going to take at least a week to cover their position.

Everyone is waiting for when Melvin starts, because when it happens it'll shoot up. Melvin is shitting money with the interest on their positions, and doing everything to scare or manipulate the price down.

A lot of puts are expiring Friday and can be exercised, but Friday may be the day when the squeeze *starts*

So, what happens when Melvin buys a shitton of stock and no one sells?

how can melvin come out yesterday and announced they covered their position

like eventually, if they lied, they'll have to cover it for real and everyone will know?

I just don't know who's telling the truth right now

 

[proteus4994]

how can melvin come out yesterday and announced they covered their position

like eventually, if they lied, they'll have to cover it for real and everyone will know?

I just don't know who's telling the truth right now

They’re lying because they’re hoping it’ll drive the stock price down, and they can recover some losses. Unfortunately for them, WSB is too autistic to sell. This is a hate fuck right now.

The lie is naked attempts at market manipulation but lol it’s a hedge fund they’ll never get in trouble for it.

 

[Unyielding Stupidity]

Investing in Gamestop right now seems like a bad idea - there's only so far this bubble can go before bursting, and we're probably nearing that point now. If you haven't already invested in Gamestop, you've probably missed the train on this one.

People hoping that it'll begin spiking on Friday seems like pure, concentrated cope.

 

[mindlessobserver]

This is the thing. What /r/wallstreet bets did is not unknown. It's happened before, with the last most famous short squeeze done at the turn of the century by banks targetting their competitors over railroad stocks. The issue is short squeezing is very dangerous financially. It can pay off short term, but long term you end up with stock in a company someone else assumed was going to fail. And odds are they were right about that.


Two factors worked against this negative outcome being a deterrent. The first factor is that thanks to the magic of deregulation, hedge funds don't just get to bet with other peoples money, they get to bet to imaginary money too. Which is why Melvin Capital was able to short sell all of Gamestops stock x2. They used an accounting trick where they not just bet against the market, they also bet against themselves, and papered over the second option using the money that was expected to come in from when they ran the first sale of the stock.

What they did not plan for was an autistic army showing up, outbidding their short buys, and then refusing to sell. This means not only was the first short wrecksd, but the SECOND short was as well, causing not a multiple loss but an EXPONENTIAL loss. Worse still, since their short options were set, they HAD to buy from the autists or lose solvency and go under. Which meant they had to keep ordering more and more expensive buys until an autist broke ranks and gave up his stock.

The second reason is even more simple. The autists pushing this are not interested in making money. They simply want to see the world burn and they are using financial instruments that are perfectly legal to do it.

And this is why Wall Street is freaking out. They created some massively dangerous financial weapons. Literal financial nuclear bombs. And Retail Investors, the North Korea of the financial industry, just demonstrated their ability to set one off.

 

[Philosophy Phil]

Investing in Gamestop right now seems like a bad idea - there's only so far this bubble can go before bursting, and we're probably nearing that point now. If you haven't already invested in Gamestop, you've probably missed the train on this one.

People hoping that it'll begin spiking on Friday seems like pure, concentrated cope.

You have been awarded 0.05 Melvincoins for your post! Well done! Keep up the good fight!

 

[proteus4994]

I mean, I’m not investing because I’m too lazy to catch this at the tip, but I hope this shit goes to to $5000 and everyone gets rich.

 

[Pee Cola]

I mean, I’m not investing because I’m too lazy to catch this at the tip, but I hope this shit goes to to $5000 and everyone gets rich.

I'm in the wrong country so I'm not set up to buy shares on any of the US markets, but I too hope that those who went long in GME can eventually afford to buy themselves a lifetime supply of tendies at the expense of (((hedge fund managers))).

 

[Collections Agent]

I really want them to pull this off but it doesn't matter if they don't, the damage has been done. Big tech, the finance industry and the government have gotten their asses kicked so badly this month that they are going to panic for the rest of the year.

The average joe is fighting back and fucking everything up for the top dogs that think they are invincible. I will enjoy every second of it.

It's also PUBLIC KNOWLEDGE NOW how to do this shit.

This is gonna fuck up wall street elites for days to come

 

[XYZpdq]

They simply want to see the world burn and they are using financial instruments that are perfectly legal to do it.

even as I starve to death in the cold as society collapses this will never stop being hilarious

 

[world of shit]

how can melvin come out yesterday and announced they covered their position

like eventually, if they lied, they'll have to cover it for real and everyone will know?

I just don't know who's telling the truth right now

There was some definite fuckery I noticed when I read Melvin's statement. Nothing definite. I believe it was something like "we've removed our position and restructured it". Notice the 'restructure' bit will give them enough wiggle room from prosecution (who doesn't want to prosecute them in the first place).

Rumor is they're out, but who knows...it may just be manipulation.

 

[Without A Gout]

I still believe Wall Street/The SEC/Govt will fuck over everyone who made this goldmine of lulz a reality. But fuck I'm going to sit back and watch the flames grow higher.

More bailouts for the hedge funds? Fuck that. Let em burn.

 

[HumanHive]

There was some definite fuckery I noticed when I read Melvin's statement. Nothing definite. I believe it was something like "we've removed our position and restructured it". Notice the 'restructure' bit will give them enough wiggle room from prosecution (who doesn't want to prosecute them in the first place).

Rumor is they're out, but who knows...it may just be manipulation.

The rumor I heard is they doubled down - and I do mean rumor when I say that.

 

[m4sk]

interview with Melvin ( https://vocaroo.com/1cv3hXwcRPAN ) from /biz/

Enjoy!

 

[world of shit]

The rumor I heard is they doubled down - and I do mean rumor when I say that.

Today? or are you talking about the previous attempt when the got btfo'ed?

 

[HumanHive]

Today? or are you talking about the previous attempt when the got btfo'ed?

Today. After the “lol we surrender” meme.

 

[mindlessobserver]

I would also like to to point out another reason wall street is freaking out. Quite a few funds have gotten stupid rich by setting up various corporations that are otherwise solvent for failure by aggressive short selling. The most famous recent example being Mitt Romneys Bain Capital Group gutting the very nostalgic Toys R Us. These sort of vulture capital moves have been a plague on the American economy for the last 3 decades, and they have gone unchallenged.

What Wall Street REALLY doesn't want the retail investors to know is the gun that was just fired ironically in defense of GameStop can be used very unironically in defense of companies people actually care about and are still viable despite determined efforts to trash them and extract their value.

Like Bed Bath and Beyond for example....

 

[Arm Pit Cream]

This is what happens when you allow for whole companies to exist to bet against markets and other companies, fuck all these jews if they have dirty tricks everybody should be allowed to use them

 

[world of shit]

My wife, who does nothing but autistically browse etsy crafty twitter accounts and facebooks even knew about this.

I believe we've entered the Meme War 2: Autists Strike Bac

Literally everyone is rooting for wsb, and everyone is shitting on banks/ws.

 

[Arm Pit Cream]

wow wtf Vice media was right???