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

Crunchy Leaf said:
Drudge still exists??
Anyway, anyone buying dogecoin who isn’t planning to get out this week is dumb. Obvious pump and dump in a way shares tied to a real company can’t be.

I haven’t sold yet and I feel fine, but also, my average share price is 41. I’m planning on selling a little on Monday to cover my investment. The people who bought at 250+, though? Not gonna be good.
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glad i sold when it reached 0.07. only way to profit is if you bought at a super low. last time doge got pumped was because of tiktok. the pump will come back but not for a few months.

also bought into gamestop around $96 per share. gonna sell a majority of the stock I have and watch what happens to the remaining stock.
 
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waffle said:
As long as enough people hold and keep buying to hold they can't close the shorts because they don't have enough volume and then amount they owe will infinitely spiral.

Keep in mind they have to mill through all of the shares, and then some again to close all the shorts - as long as diamond hands pick up whatever shares move to cover Melvin/citadel/blackrock's bill increases infinitely because at some point all of the investors who aren't in the wolf pack will have sold or joined and there won't be enough volume.

The other thing, is, what if some large block of the optioned stock is held by somebody who decides their diamond hands are taking them to the moon? Melvin could pay back massive blocks of the short, but instead going right on the market so Melvin can use it again the guys who sold the option have a pretty strong incentive to hold any that gets returned.
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That's ok, brokers will prevent you from engaging in anti-semitic, white supremacist behavior like buying and holding by forcing you to sell via market order during the next dip.
 
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Crunchy Leaf said:
Someone I know is in some rightoid Christian group where one of the admins has said they put 1000 into dogecoin to be able to pay for a Christian compound for them to live in. He shoulda bought GME at 80 this Monday and sold yesterday and would’ve been better off.
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as soon as I saw my cousins talk about it and someone posting a mia khalifa tweet on /biz/ i sold right away. at that point, the momentum is gone and doge has always had a history of pump and dump.
Slick Willy said:
I have a burner phone, but I might get another.
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send him this number 901-922-9912
 
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Crunchy Leaf said:
Someone I know is in some rightoid Christian group where one of the admins has said they put 1000 into dogecoin to be able to pay for a Christian compound for them to live in. He shoulda bought GME at 80 this Monday and sold yesterday and would’ve been better off.
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Lad I talk to got all excited with me sharing my GME exploits with him and bought 200 pounds of dogecoin at 0.054 right before the freefall, ouch. :semperfidelis:
He doesn't even browse /biz/, good luck figuring out when the next pump n' dump's gonna happen
 
BalthasarGelt said:
Lad I talk to got all excited with me sharing my GME exploits with him and bought 200 pounds of dogecoin at 0.054 right before the freefall, ouch. :semperfidelis:
He doesn't even browse /biz/, good luck figuring out when the next pump n' dump's gonna happen
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Oh yeah, a week and a half ago I told one of my friends I spent 700 dollars on GME. This week he messages me and says ‘I thought you were an idiot!’ He bought AMC and other meme stocks on Wednesday night, paper handed Thursday morning, and then bought dogecoin, and is already down money.
 
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LemmeSee said:
Someone's going to be left holding the bag on this and deep down we all know that, no matter how much we might wish otherwise, it's not going to be the bankers. If you haven't sold yet, it's probably too late. The weekend is giving people time to reconsider their positions without the dopamine hit of the numbers going up and they're realizing that if they get out before everyone else they can keep their winnings.

edit: grammar fix
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The way my friend did it, he 1. Used money extra money he had laying around then 2. Robinhood was giving money away for signing up.

So these people may very well have been playing with money that was free to begin with.
 
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