GameStop Deathwatch

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Who will be the first to meet Jeffery Epstein in the Afterlife?

  • GameStop

    Votes: 76 40.0%

  • Ginsberg

    Votes: 66 34.7%

  • Goku

    Votes: 48 25.3%
  • Total voters
    190
werewolf rape erotica said:
Here, have a badly formatted Twitter thread.



If you're out of the loop - this is the (hilarious) story of a subreddit (wall street bets) taking down a multi-billion dollar hedge fund... get your popcorn ready 🍿

the hero of our story: a user named DeepFuckingValue bought $50k of call options in Gamestop ($GME) that has turned into a $13M+ win in ~3 months. he's a part of the subreddit r/WallStreetBets, a group of degenerate gamblers that I love.


So here's the situation. Gamestop (GME) = a dying biz. circling the drain. Who goes to a store to buy games? It's basically a pokemon card dealership at this point. Plus with covid, malls are dead. So some Hedge Funds are shorting the stock, betting it would go down.

One fund in particular, Melvin Capital Managment - a multi-billion dollar hedge fund...had been accruing a big short position in gamestop. Usually you don't have to disclose your shorts - but these were 'listed put options' so some clever redditors discovered the position

Melvin had a $55M+ short against GME.. If you're not familiar with shorting - read this simple explanation using apes and snakes and bananas from the subreddit. Teachers, take note:

except in this case - redditors saw the overloaded short position and started buying the stock, as a "short squeeze" against melvin. Now the "borrowed" shares were due, but redditors refused to sell, demanding higher and higher prices.

to be clear. This has nothing to do with gamestop as a business. They are just a piece of rope being used in a tug of war between internet nerds and wall st suits. the rally cry on r/wallstreet bets: "we can remain retarded for longer than they can stay solvent!"

Melvin lost $2B+ in like 2 weeks, and just had to get bailed out by 2 other funds just to cover it's losses from the shorts. It's not quite George Soros "Breaking the Bank of England" - but it's close. The yolo traders of reddit just broke a multi-billion dollar hedge fund

"Why can't Melvin capital just uninstall robinhood and reinstall it to restore their save game to get their money back????" - u/dopexile

short squeezes (and day trading) are stressful and super volatile. But... I'm here for the petty fight between internet trolls and wall st. And in that fight, i'm going with the neckbeard cat guy rather than goldman sachs suit. $50k on $GME and $BB at market open baby 😅😅😅
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Is this the reason for this?
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not to mention it is personal for some people too. Elon Musk tweeted Gamestonks. most likely cheering for retail investors as Melvin Capital was also quite involved in shorting Tesla stocks back then, which at least Tesla weathered
 
This is a good overview of what happened. However what they're not saying (probably for libel reasons) is that a lot of people suspect Melvyn Capital haven't actually liquidated their poistion in Gamestop. They're still waiting for the share price to collapse and their bag carriers in CNBC and a handful of blue check marks, are happy to oblige.

 
Apparently, higher ups level positions were responsible for the GME stock push posts on Reddit to build one last note of interest for the company. Or at least people they hired.
 
Pee Wee Herman said:
Apparently, higher ups level positions were responsible for the GME stock push posts on Reddit to build one last note of interest for the company. Or at least people they hired.
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Source? This sounds rather illegal but the thread in Happenings is too busy discussing prepping and smoking weed in AMC theaters to bother posting anything on the actual story.
 
I don't understand how lawyers would be so gay.

You think $50 is a faggot price, I once got a $250 lightsaber for my birthday. It's much fancier than the target flashlight ones.
(I would never pay $250 for a lamp)
 
Osama Bin Laden said:
Some customer put a fake sticker on a Darth Vader lightsaber and Gamestop has officially came out and made a statement on it
View attachment 6312292View attachment 6312290
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"If someone took the 'use the force' a bit too far, please reach out to..."

An employee put that sticker on. That's what it means. If a customer put the stickers on, then GameStop wouldn't have any liability for the situation and wouldn't denigrate their brand with this embarrassment attached to their letterhead.
 
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