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

  • 🐕 I am attempting to get the site runnning as fast as possible. If you are experiencing slow page load times, please report it.
Capture.PNG

Link | Archive


MGM to Produce Movie Based on GameStop Stock Market Chaos Because Why Not

By Nicole Drum - January 31, 2021 10:39 pm EST






They say life comes at you fast but this is a case of the entertainment inspired by life coming even faster. According to a report by Deadline, MGM has acquired the film rights to a book proposal for The Antisocial Network, an in-the-works book author Ben Mezrich that will detail last week's wild Wall Street GameStop stock controversy. Per the report, Mezrich's proposal was on the market by the end of last week with MGM moving fast to acquire it and will see MGM's Michael DeLuca working with Mezrich a second time -- DeLuca produced The Social Network, which was based on Mezrich's book The Accidental Billionaires: The Founding Of Facebook, a Tale Of Sex, Money, Genius, and Betrayal.


On the off chance you have no idea what's going on with Wall Street and GameStop and why it's getting so much attention, here's a pretty basic primer. At least two hedge funds, betting that shares of GameStop would fall, engaged in something called shorting -- essentially borrowing stock, selling it for one price, and then waiting for its price to fall so they could buy it back at the much lower price, thus making a profit. However, a group of investors on Reddit's r/WallStreetBets started buying shares of GameStop which in turn increased its market value in a huge way creating a "short squeeze" that forced the hedge funds into losing a lot of money and prompted one hedge fund, Melvin Capital, to need an over $2 billion bailout.

Making things even more interesting is that it isn't just GameStop stock involved at this point. Other stocks, such as AMC, BlackBerry, and Nokia have also been the target of the so-called Reddit investors which has, in turn, prompted trading app Robinhood to put restrictions on certain stocks and generally bring a to of attention to the stock market generally by groups who might not ordinarily pay that much attention.


As for Mezrich's book and MGM's involvement, according to Deadline Aaron Ryder of Ryder Picture Company will produce while Cameron and Tyler Winklevoss will executive produce via Winklevoss Pictures. Mezrich's book is expected to head to auction for publishers in February.
Click to expand...
Link | Archive

Pee Cola said:
Rossmann tears into yet another shitty MSM article on GME. With a title like "Do you know who the good guys are? It's the hedge funds and the short sellers", you know this is going to be a good video. ( article | archive )

Click to expand...
haha fune sex numbr said:

Shill got caught in the act, good grief.
Click to expand...
 
  • Like
  • Informative
Reactions: Slick Willy, Stalovna, Iwasamwillbe and 8 others
Superman93's Bitch said:
The amount of people who don't know the difference in investing in silver or silver trusts is making me care even less about everyone who'd get screwed by a market crash.
Click to expand...

Hey, at least I asked what the difference was!

Exbein said:
Did anyone catch the news that the wife of Plotkin (owner of Melvin Capital) just filed for a divorce?
Click to expand...

If true then either she's fleeing a sinking ship or else it's an arrangement to try and hold onto some of the fortune by claiming her half before the wolves are at the door. If the divorce is pushed through at breakneck speed with no contesting from Plotkin then we'll have a fair guess it's a joint effort to try and not lose everything. Do they have kids?

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?"
Click to expand...
If it were a private fund then I'm sure something could be worked out but is there even such a thing? I would imagine any board of directors that approved such a favour to Melvin Capital would be ousted by their investors in seconds and then sued to boot. Melvin is supposed to be paying interest on the borrowed shares and presumably that's skyrocketing right now.

Still, you might not be wrong. Maybe a board of directors could successfully argue that it was a case of extend the payback period as a concession and get the money back eventually or don't and get a pittance back as Melvin goes poof and its own stock becomes worthless leaving everyone to fight over whatever scraps it can pay like Skeksis.

Think the other poster has a very interesting take though - the stock is actually borrowed from brokers and rightfully owned by the retail investors in which case Melvin is legally fucked. They ain't getting extensions from those diamond-handed motherfuckers.
 
  • Like
  • Agree
  • Thunk-Provoking
Reactions: GloJojo, TerribleIdeas™, Borrisokeane and 6 others
Kujo Jotaro said:
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.
Click to expand...

But is there any point in holding beyond today? I thought the first lot of shorts came due last Friday and this Monday the rest come due. Isn't the damage now done and Melvin finished? When (and how) can we actually find out what is going on? Surely Melvin have to legally make some sort of statement to their investors on this?
 
  • Thunk-Provoking
Reactions: Kujo Jotaro
Xarpho said:
"The Antisocial Network", bet they were feeling really clever when they wrote that one up. Wonder how many mental gymnastics they'll have to do if they want the out-of-touch, greedy hedge fund investors the "heroes" in their story.
Click to expand...
It will be like that movie about how great the corrupt FIFA executives are which has like a 0% review score on RT and in the US made only a few hundred dollars.
 
Revo said:
View attachment 1887205
Link | Archive



Link | Archive


View attachment 1887206

View attachment 1887207
Click to expand...
Must admit, jurnos calling people "game stoppers" and treating them like terrorists was not something I could have predicted for 2021. White power to the players I guess.
 
  • Like
  • Winner
  • Agree
Reactions: Christ on a crutch, PozzedByCoronachan, TerribleIdeas™ and 12 others
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?"
Click to expand...
This isn't like telling your friend that he doesn't need to pay back the coffee you got for him. Contracts are serious business, and lawsuits are involved when said contracts are broken.

As these things are usually written by lawyers, there's termination fees for either party if the contract gets broken, and sometimes a little wiggle room so a company can get away with paying less than one would expect or hope, but the only way to "forgive" Melvin's debt is to file Chapter 7, which would liquidate Melvin Capital in the process, which seems to be a possible outcome in this scenario.
 
  • Like
Reactions: GloJojo, the fall of man, Yotsubaaa and 1 other person
Xarpho said:
"The Antisocial Network", bet they were feeling really clever when they wrote that one up. Wonder how many mental gymnastics they'll have to do if they want the out-of-touch, greedy hedge fund investors the "heroes" in their story.
Click to expand...

They'll make them old jews that love everyone and donate to soup kitchens, only SUDDENLY NAZI TRUMP SUPPORTERS ON 4CHANEDDIT. Except for the one random black woman trader who gets assaulted in the street by someone chanting POWER TO THE PLAYERS.
 
  • Winner
  • Like
  • Informative
Reactions: Slick Willy, TerribleIdeas™, make_it_so and 13 others
Overly Serious said:
But is there any point in holding beyond today? I thought the first lot of shorts came due last Friday and this Monday the rest come due. Isn't the damage now done and Melvin finished? When (and how) can we actually find out what is going on? Surely Melvin have to legally make some sort of statement to their investors on this?
Click to expand...
Many people think the hedgies are doubling down so holding another month costs the shareholders nothing if they hold strong not letting the hedgies enjoy stock that is priced low due to the what would be expected selloff. HODL. These hedge fund losers are gonna go bankrupt anyways so they are free to double down but internet autists are choosing to hold just for the sake of seeing what happens regardless of losses.
 
  • Optimistic
  • Like
Reactions: Overly Serious, HIVidaBoheme, Real Gay Autist and 3 others
Disheveled Human said:
Many people think the hedgies are doubling down so holding another month costs the shareholders nothing if they hold strong not letting the hedgies enjoy stock that is priced low due to the what would be expected selloff. HODL. These hedge fund losers are gonna go bankrupt anyways so they are free to double down but internet autists are choosing to hold just for the sake of seeing what happens regardless of losses.
Click to expand...
Short interest is falling though, and if buying is restricted then "HODL" doesn't mean as much since the price will fall as a result. They can still do a lot of damage (they already have) and if that was the point then sure, it's still a war of attrition, but the cards are stacking against the retail investors. They would need to mobilize more buyers on every platform where it's still possible, and that's unlikely to happen.
 
  • Agree
Reactions: Real Gay Autist and secret watcher
DyingStarsForever said:
Short interest is falling though, and if buying is restricted then "HODL" doesn't mean as much since the price will fall as a result. They can still do a lot of damage (they already have) and if that was the point then sure, it's still a war of attrition, but the cards are stacking against the retail investors. They would need to mobilize more buyers on every platform where it's still possible, and that's unlikely to happen.
Click to expand...
Yeah they are trying to manipulate stock of not just GME but other stock that is being shorted do not fall for their tricks and buy the dips. Imagine thinking these billionaire hedge funds are not trying to weasel out of their positions by thinking share holders are ignorant and will chain panic sell when a dip happens. This is not the case this stock is HOT! same with AMC, KOSS, BYND Ect....
 
  • Optimistic
  • Like
Reactions: secret watcher and Hubelublub
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?"
Click to expand...
Basically what Melvin Capitol did was ask for 100% of the total stock in existence plus an additional 20%-40% meaning anyone betting against them will be given multipliers on their return if Melvin Capitol bet wrong which is exactly what is happening.
 
  • Optimistic
Reactions: secret watcher
mindlessobserver said:
Except they currently have congress embroiled in Impeaching Trump AGAIN. That is the Senates agenda for February. They will have to put impeaching the orange man off to deal with this, and the shit will really fly then. The SEC doesnt even have a chairman atm. Because again, the Senate is busy dealing with the Orange Man Bad trial. Again.
Click to expand...
That's a sideshow. As is the Senate, for the most part. If TPTB see the financial system breaking down it's not going to involve days of debate under Robert's Rules of Order for them to do something about it. Maybe if they do something drastic it would cause a floor vote on a bill none of the senators read. But most likely it would be 'regulatory actions' decided upon by people who have never been elected to anything.
 
  • Optimistic
  • Agree
Reactions: Pocket Dragoon and secret watcher
  • Optimistic
Reactions: Pocket Dragoon and secret watcher
Alex Poulos said:
I'm getting Metal Gear Solid 2 vibes from this. That feeling certainly will intensify in the future.
Click to expand...
MGS 2 is a documentary about 2020-21, somehow made in 2000. All the GW and information control shit is just social media and the MSM.

So if kojima is right that means Donald Trump is actually a clone of Patton, and is going to attack Facebook headquarters with a disgraced band of supersoldiers in a desperate bid to end the deep state's hold over everyone's mind.

Shit guys, I think Q was Hideo Kojima the whole time. :jacewtf:
 
Last edited:
  • Thunk-Provoking
  • Semper Fidelis
  • Lunacy
Reactions: Uranus Pink, Sir Yarnsalot, The Sacred Chao and 19 others
Xarpho said:
"The Antisocial Network", bet they were feeling really clever when they wrote that one up. Wonder how many mental gymnastics they'll have to do if they want the out-of-touch, greedy hedge fund investors the "heroes" in their story.
Click to expand...
When this ends, Melvin capital may go bust. Some billionaires will lose their shirts, some billionaires are going to get a whole lot richer because they be against capital. But there are at least a few idiots cleaning out their kids' college funds trying to buy into Gamestop not because they're trying to send a message, but because they think they're somehow going to profit somehow. They're going to lose a ton of money, and they will be portrayed as the real victims in all of this. r/Wallstreetbets will be blamed for leading these idiots to their financial destruction.
 
  • Like
  • Agree
  • Disagree
Reactions: Doc Cassidy, Allakazam223, Casshern and 3 others
You must log in or register to reply here.
Back