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

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Silver over 30 already, sure hope the parasites of JP Morgan aren't getting nervous right now, that would be a national tragedy.
 
Disheveled Human said:
what is the coordination? People want to buy and hold you do not need a reddit or discord to do that, deadline is as long as autists want to hold which is a long time.
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Nothing is ever that simple, especially when there are agents actively spreading disinformation in an effort to get people to sell, and influencing brokers to fuck with peoples stocks. Its nice to think that everyone involved really has "diamond hands" but when they see that shit start to dip and there's no one there to tell them this is horsehit market manipulation I'd be willing to bet a lot of them start to sell off. Divide and conquer is a historically successful strategy, and I'd bet it would work to some degree here as well.
 
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All I would like to know is why I can go to a lottery kiosk and purchase $500 worth of lotto no questions asked, yet when I want to purchase AMC stock the market says its beyond my pay-grade and limit me into buying only 1 share? its sitting at around $10 dollars a share why are they telling me I cannot afford more then $10? Even a homeless person can afford $10 just by panhandling for an hour or 2.
 
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Apologies if this is a dumb question, but short-selling involves borrowing stock and making a contract to return it on a certain date, right? Whom did Melvin Capital borrow the stock from, and is there any reason that party can't say, "Owing to the unusual circumstances, we will not be enforcing our contract, and we release Melvin from the obligation to return the GME stock it borrowed?"
 
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CeleryStalks said:
Apologies if this is a dumb question, but short-selling involves borrowing stock and making a contract to return it on a certain date, right? Whom did Melvin Capital borrow the stock from, and is there any reason that party can't say, "Owing to the unusual circumstances, we will not be enforcing our contract, and we release Melvin from the obligation to return the GME stock it borrowed?"
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What stops everyone from doing that then?

It would effectively end the financial markets world-wide.
 
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CeleryStalks said:
Apologies if this is a dumb question, but short-selling involves borrowing stock and making a contract to return it on a certain date, right? Whom did Melvin Capital borrow the stock from, and is there any reason that party can't say, "Owing to the unusual circumstances, we will not be enforcing our contract, and we release Melvin from the obligation to return the GME stock it borrowed?"
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I have no doubt at all that there are backroom deals to let Melvin Capital return the stock later than it should have, yeah. But I believe that's also regulated? And involves fines if you do so?
 
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CeleryStalks said:
Apologies if this is a dumb question, but short-selling involves borrowing stock and making a contract to return it on a certain date, right? Whom did Melvin Capital borrow the stock from, and is there any reason that party can't say, "Owing to the unusual circumstances, we will not be enforcing our contract, and we release Melvin from the obligation to return the GME stock it borrowed?"
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Its borrowed from you and me, and we dont even know it. Small time stock owners. Read your brokerage’s TOS.
 
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Superman93's Bitch said:
Its borrowed from you and me, and we dont even know it. Small time stock owners. Read your brokerage’s TOS.
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One of the things WSB was doing early on was having people tell their Brokerage that they did not consent to loaning out their stock. Supposedly NASDAQ requires them to stop if you tell them. This would have frozen even more liquidity (think that's the right term) in the market for GME, which would have lead to even more trouble for the Hedgies.
 
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Superman93's Bitch said:
He's been skeptical. I don't think he's been screeching about anything.
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The dude just claimed he is in an investment group he needs to pay hundreds of dollars to get into and is saying buying long is bad with zero evidence supporting that theory other than just trust me bro, that is more then just being skeptical it is outright biased and manipulative.
 
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Exbein said:
Did anyone catch the news that the wife of Plotkin (owner of Melvin Capital) just filed for a divorce?
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Hilarious if true, but also would demonstrate she's slimier than he is. I mean, sure, buying two houses in Florida (and I don't think that it's his main residence) for $44M in a downturn with the intent of demolishing a near-historic building just for a tennis court, in a business that profits from the demise of business, is slimy, but trying to divorce for solely because the gravy train is heading for derailment shows what kind of wife she really is.
 
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