GME

[Kbg]

And yes I'm posting again on the board after a personal cooling off period which was needed. Maddy needs to be able to rant about a drama queen and so I'm here to provide that for her.

On a more serious note, I very much appreciate the moderators of the board and thank them for a "solid."

If anyone sees me in the politics section again ask me to leave.

[Smith1776]

Welcome back!

I hope I never feel compelled to leave this board. PP fo' life.

[I Shrugged]

Kbg, I agree with you about the whales. Maybe they are in the WSB group, maybe not, but they are in this somewhere.

It's fun to watch, but I still say the swamp will win. Now, if the swamp is on both sides of the trade, hmmm.....

[InsuranceGuy]

[deleted]

[Kriegsspiel]

Chamath Palihapitiya debates CNBC's Scott Wapner on Gamestop stocks

Chamath read my post here and he's repeating it. Especially the last minute or so.

[Kriegsspiel]

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[SomeDude]

Those shares i sold for 55k in Nov are now worth more than 800k. I'm sick over it.

I still have 1250 shares that I bought at $37 and $39

Nice job buddy

[I Shrugged]

Someone please explain to me what it means that Discord has shut down "its WallStreetBets server".
(It's because of "hateful and discriminatory speech". Man, they might as well dismantle the internet, then.)

[CT-Scott]

So the r/wallstreetbets Reddit channel was available for me to join a few mins ago. GME down (at the moment) in after-hours trading. Worth me buying some shares tomorrow AM or has the train left the station?

[doodle]

WSB Public again...membership has increased 1M in one day. Crazy!

[vnatale]

So the r/wallstreetbets Reddit channel was available for me to join a few mins ago. GME down (at the moment) in after-hours trading. Worth me buying some shares tomorrow AM or has the train left the station?

In a mania / bubble isn't that always the eternal question? Things can turn in an instant.

[Kriegsspiel]

Someone please explain to me what it means that Discord has shut down "its WallStreetBets server".
(It's because of "hateful and discriminatory speech". Man, they might as well dismantle the internet, then.)

Haven't you been paying attention? Tech companies (of the social media flavor) are inevitably co-opted by thought police.

The problematic content on the platform only became an urgent issue after the deadly protests in Charlottesville in 2017, which had been planned and discussed openly on Discord for a long time before the event. Before that, there was no Trust and Safety team at Discord; Sean Li, who leads that team, joined the company about a month before Charlottesville. And for too long, the company thought its job was just to keep the worst stuff — the porn, the racial slurs, the flagrantly illegal content — off the platform. It turned a blind eye to the rest, figuring that because it wasn't a public space, what was the harm? Just don't join the server, and nobody can come after you.

Now they see it differently. "Discord is like a country with 100 million inhabitants, living in different states and towns," Li said. "We make the rules on what is allowed to help shape the society at large, and we empower server moderators and admins to help us enforce and expand upon them based on the needs of their communities." He wants to help moderators create whatever kind of community they want, and Discord's also getting better at giving moderators the tools and knowhow to do so, but only within the boundaries set by the broader platform. Those didn't exist for too many years. Now, Discord's trying simply to be clear and forceful about what's acceptable and what isn't, and to enforce those rules consistently. It's investing in bots and other automated mod tools, but the Trust and Safety team now makes up more than 15% of Discord's staff. While there's still plenty of bad stuff on the platform, progress seems to be strong. link

It's not a welcoming place for the likes of WSB.

[Kriegsspiel]

So the r/wallstreetbets Reddit channel was available for me to join a few mins ago. GME down (at the moment) in after-hours trading. Worth me buying some shares tomorrow AM or has the train left the station?

Who knows?

[doodle]

So, digging a bit more...the GME longs might be in for a world of hurt as it could be that the outstanding short interest is greatly exagerrated. I've never heard of the concept of synthetic longs like explained here, but apparently there might be more liquidity in GME than the wsb autists realize.

https://www.shortsight.com/short-inter ... oat-2-0/

[Smith1776]

It is interesting to note that the meteoric and apparently unjustified rise in GME's stock price does not actually disprove the efficient market hypothesis. Although it is of course fun to joke around about it.

It is not irrational to hold/buy an apparently overvalued asset if you simply expect it's going to go higher. Additionally, simple taste/preference for a given piece of merchandise can be an overriding factor, which even Eugene Fama has admitted on occasion.

Finally, nothing about this saga has made prices more predictable, thus preserving one of the key predictions of EMH. Even shorting the stock (an ostensibly obvious move), is not really that obvious, as some hedge funds have discovered.

[doodle]

Screenshot_20210127-190139.png (201.87 KiB) Viewed 5632 times

GME’s SI % of float is over 100%, which is illogical as you cannot get five quarts of milk out of a gallon jug. In actuality, GME’s short interest is 58.26% if we include the “synthetic longs” that are created by short sales in the float calculation. A portion of these “synthetic longs” become lendable shares as they settle in lending programs (mutual funds and ETF providers), marginable retail accounts and rehypothicatable hedge fund accounts. Short selling therefore not only provides added daily trading liquidity but also stock loan liquidity which supports not only the ability to execute Alpha generating short trades but also liquidity for portfolio hedging strategies and derivative (option\swap) hedging.

[I Shrugged]

Normally I'd invoke the Greater Fool Theory. That might still be appropriate.

[vnatale]

Normally I'd invoke the Greater Fool Theory. That might still be appropriate.

I have prior pled guilty to being the "greater fool" and I will again do so here.

From 1988 to 1991 I "invested" $30,000 in sports cards (primarily baseball). I came in at the height of the market, being the "greater fool" for others to cash out. In just one day alone I made 50% more in "investments" than I have ever paid for a car (including the last one I bought in 2013).

The recession of 1991 but values in half and they've never recovered.

[Smith1776]

Stonks only go up!

[CT-Scott]

GME plummeting today as a result Robinhood (and others?) restricting buying, but not selling. Disgusting.

But I never got in, so now I'm watching to see if it craters and may try to still buy using TD Ameritrade (which, I *think* might only be restricting certain types of transactions, and not simple buying of shares).

[Xan]

GME plummeting today as a result Robinhood (and others?) restricting buying, but not selling. Disgusting.

But I never got in, so now I'm watching to see if it craters and may try to still buy using TD Ameritrade (which, I *think* might only be restricting certain types of transactions, and not simple buying of shares).

It seems like Robinhood is torpedoing itself by not allowing buying. I don't understand why they would do that. Maybe they're trying to avoid being associated with the bad press of a crash?

[CT-Scott]

Well, I did it. I bought some via TD Ameritrade (via their website). At least I think I did. I'm such a dope when it comes to buying/selling stock (the only stock I ever purchased was AAPL, which I made the mistake of selling around March or so last year), so I'm still a little fuzzy on whether the order was definitely completed (it shows a status of "Filled" so I *think* that means that it's a done deal).

I almost got it at the floor as of a short while ago (around $120) but as I was placing my order it was already moving upwards. And because I wasn't sure how to submit my order the best way I had to revise it to up my limit (is there a way to just enter: buy me however many shares I can get for $xxx ?).

Anyway, it looks like I got in at a purchase price of $169.97. I didn't buy as much as I originally thought I might buy (was originally thinking around $10K worth), but ended up getting 36 shares (so a little over $6K) , simply because I got scared by the huge drop it had taken today, but I still got enough for an interesting ride worth watching. If I lose it all, I guess I'll be rethinking this, but we'll see. As I started to write this, it had gotten back up to over $240, but now it's down again close to $200. Oof.

[flyingpylon]

GME plummeting today as a result Robinhood (and others?) restricting buying, but not selling. Disgusting.

But I never got in, so now I'm watching to see if it craters and may try to still buy using TD Ameritrade (which, I *think* might only be restricting certain types of transactions, and not simple buying of shares).

It seems like Robinhood is torpedoing itself by not allowing buying. I don't understand why they would do that. Maybe they're trying to avoid being associated with the bad press of a crash?

Just a guess but... follow the money.

[doodle]

Well, I did it. I bought some via TD Ameritrade (via their website). At least I think I did. I'm such a dope when it comes to buying/selling stock (the only stock I ever purchased was AAPL, which I made the mistake of selling around March or so last year), so I'm still a little fuzzy on whether the order was definitely completed (it shows a status of "Filled" so I *think* that means that it's a done deal).

I almost got it at the floor as of a short while ago (around $120) but as I was placing my order it was already moving upwards. And because I wasn't sure how to submit my order the best way I had to revise it to up my limit (is there a way to just enter: buy me however many shares I can get for $xxx ?).

Anyway, it looks like I got in at a purchase price of $169.97. I didn't buy as much as I originally thought I might buy (was originally thinking around $10K worth), but ended up getting 36 shares (so a little over $6K) , simply because I got scared by the huge drop it had taken today, but I still got enough for an interesting ride worth watching. If I lose it all, I guess I'll be rethinking this, but we'll see. As I started to write this, it had gotten back up to over $240, but now it's down again close to $200. Oof.

Place yer bets! Place yer bets!

As long as it's money you can afford to lose, you have Harry's seal of approval!

[Tortoise]

It seems like Robinhood is torpedoing itself by not allowing buying. I don't understand why they would do that. Maybe they're trying to avoid being associated with the bad press of a crash?

Just a guess but... follow the money.

Yup, money talks. My guess is that some very rich and powerful Wall Street types who are at risk of losing billions over this either threatened or bribed some higher-ups at Robinhood to restrict trading on GME.