Posted on 01/27/2021 12:05:42 PM PST by srmanuel
I don't know how many of you are invested in Stocks or follow the news on Wall Street on a daily basis, but consider this....Gamestop the retailer who bought/sold/traded Computer Games was selling at less that $20/share two weeks ago...today in trading the stock was selling or over $350/share....what happened was a group of Major Wall Street Hedge Funds shorted the stock and forced it down hoping to make billions, at the same time a big group of individuals on Reddit noticed what was happening and proceeded to lead a campaign to buy the stock forcing it up to unprecedented highs, causing billions of dollars in loses to major Wall Street Firms...this is one case where the little guy severely punished Wall Street...
(Excerpt) Read more at marketwatch.com ...
I don’t own Gamestop, I don’t invest in that type of thing, I mainly buy traditional large cap stocks that pay a dividend....which gets rolled over into new shares....
I’m not an active trader....
What I think is funny is a bunch of major Wall Street Firms were taken to the cleaners by a bunch on internet trolls
bingo.
Good, they needed to lose, and lose big, as they were all in for Biden. Teach them a great lesson.
Big money moves stocks not small money. This is a billionaires dance. Don’t get sucked into the idea that little guys are doing this.
Yes.
However, most small investors do not have the ability to actually sell “short”. If there are options that trade on this stock, you may be able to buy “put” options. The worst that can happen with these is that they expire worthless and you are out your initial investment. Not all stocks have options traded though.
This is a stock. It is not a futures contract on a commodity like pork bellies, wheat, corn, oil, lumber or OJ like in the movie “Trading Places”.
Wears Beaks?
In theory, yes, but now that everybody knows about it, it's a hot potato not worth touching.
Sure, if you want to be bankrupted.
But I believe in the case of Game Stop the amount of shares that were sold short was greater than the total amount of shares available.
So when just one share was bought, some short had to sell back a share to cover. And on and on.
Not sure how that works, but that’s what I read.
of course it doesn’t. But if you sell on double money, then take half of that and buy and sell again on double money, money is there to be made. Compliments of the dismayed short sellers who were arrogantly blatant in what they were doing to the stock.
Here’s a good quote:
“Barron’s reported late on Tuesday that the top securities regulator in Massachusetts believes trading in GameStop stock suggests there is something “systemically wrong” with the options trading around the stock.”
In other words: the people (Hedge Funds, professional traders) that were supposed to make money got their rear ends handed to them and That’s Not The Way Things Ought To Be. The little guys aren’t supposed to be doing this.
Sounds like the Wall Street equivalent of the Deep State talking.
Not when the shorts have to buy 150% of the floating stock. That’s right, they were a lot of naked shorts. The tards have them by the curlies if the tards hold. I didn’t think the would but they are.
Playing in GME options right now is not a game for anyone but trading professionals.
There is an ongoing battle between speculating traders and short sellers. Getting in the middle is a dangerous place.
Friday may be quite a day.
Yeah they have lost 5.5 billion because the hedge funds were greedy and shorted more stocks than the should be allowed.
Several hedge funds will get bankrupt on this. One borrowed another 2.7 billion to keep their short positions open yesterday. That money is now gone if the tards hold.
“Several hedge funds will get bankrupt on this. One borrowed another 2.7 billion to keep their short positions open yesterday. That money is now gone if the tards hold.”
They’re gonna take it in the.... you know. :)
It will be interesting for sure. I’m just watching it. My kids told me about it last week. I was stupid not to look at it closely. Now it’s way too risky to risk even play money in it.
Speculators are now trying to squeeze short positions in several other companies that have 80% or even 110% shorts to float. Don’t know if it is the big guys or little ones. They are up big now. I’m watching it hoping the millennial tards get to pay off their student lines with hedge funds billions. Lol.
one of the stocks on a former GS hedgefund manager alert was KOSS..I was looking at it..didnt pull the trigger..it went
low 14.19 high 69.79
another listed was CLVS that hasnt moved
I am buying some for tomorrow
one of the reasons this stuff is moving is because the guy who wants to run for CA Governor has bought some of this stuff up.
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