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

HumanHive said:
Turns out when you leave an entire generation with nothing but a fast food cashier salary and a fur baby to pet, they don’t really mind the entire economic system going up like a garbage fire.

What lessons can we draw from this?
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Don't give them the fur baby next time. It gave them a little bit of hope and prevented the full demoralization from taking hold.
 
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Rich Evans Apologist said:
Just as long as you bear in mind that a stock which is shorted may actually be shit, and the short might be a correct judgment. When you throw money at some of these, you're assuming that they're being undervalued - and ideally, as more people come to that same conclusion, the price rises up in speculation, then comes down. Ideally you want to hop off while it's still going up, before it settles back down into equilibrium. GME was totally unique because of just how many shares were shorted.

Like, the people going on the AMC stock don't -actually- think that cinemas are coming back, do they? Not when movies have been streamed online for a bloody year and most folks have realized that going to the big-ticket theaters fucking sucks. Maybe it'll go up a little when the lockdown ends, sure, but folks who were buying in when that stock had already shot up, expecting it to behave like GME, are just asking to lose their money.


Yeah, they're burning their own money to burn way, way more of the fucking wall street billionaires'. There's a very real risk to many of them that they hold the line so long that there's no way they make any of their money back - which is why they should be saluted for putting their money where their mouths are. They're spending money to drive these hedge managers to suicide, expecting potentially nothing in return, and that's just a feel-good story for the whole family.
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So does Gamestop itself end up making the money, or does this effectively delete currency?
 
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WinchesterPremium said:
The market is closed until monday I'm not even sure they could unhold if they wanted.
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If the retail investors have started queuing up their sells already, we won't know until 9am Monday morning.

Or 8:58am apparently, if they're on Robinhood. This is a worrying development:
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Looks like the Hedge funds are about to lose almost $20 billion.
The astronomical rally in GameStop has imposed huge losses of nearly $20 billion for short sellers this month, but they are not budging.

Short-selling hedge funds have suffered a mark-to-market loss of $19.75 billion year to date in the brick-and-mortar video game retailer, including a nearly $8 billion loss on Friday as the stock kept ripping higher, according to data from S3 Partners.
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