GME
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GME
Is anyone paying attention to the price action in GME? You think storming the capitol was a revolutionary act? This is reddit retail traders literally banding together to take down wall street whales.
- Kriegsspiel
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Re: GME
Apparently, they were led by user Roaring Kitty.
I actually don't know shit about this, but Smithers has been on top of it for like 6 internet-years already.Cullen wrote:Roaring Kitty FTW. That means “for the win”. That’s how the kids talk these days. Or so I’ve been told.
This is actually one of the more interesting stories in a long time. In case you haven’t been paying attention – a bunch of Redditors banded together to drive Gamestop (GME) stock higher by buying far out of the money call options. Meanwhile, a whole bunch of hedge funds were short the stock. This has recently resulted in a short squeeze and a gamma squeeze. Basically, lots of short covering and hedging by market makers in the options market. It got so bad that one hedge fund needed a bailout. And this was all led by a user named “Roaring Kitty”. Yes, Roaring Kitty took out a $12B hedge fund. I shit you not. . .
link.
You there, Ephialtes. May you live forever.
Re: GME
There are "autist" kids there literally sitting on multi-million dollar portfolios comprised of 100% gamestop shares...who refuse to sell. This is rewriting economics.
https://www.reddit.com/r/wallstreetbet ... nt_stop/
https://www.reddit.com/r/wallstreetbet ... nt_stop/
Re: GME
I have no idea what's going on.
Is it the case that some people on Reddit have just decided amongst themselves that they're going to buy and hold lot of GameStop? People on Reddit have enough money to affect the stock this much? I'm confused.
Doodle, can you tell me what part of economics are being rewritten? I'm really very interested in this but am having a great deal of trouble figuring it out.
Is it the case that some people on Reddit have just decided amongst themselves that they're going to buy and hold lot of GameStop? People on Reddit have enough money to affect the stock this much? I'm confused.
Doodle, can you tell me what part of economics are being rewritten? I'm really very interested in this but am having a great deal of trouble figuring it out.
Re: GME
I too am trying to figure this out.Xan wrote: ↑Tue Jan 26, 2021 8:43 pm I have no idea what's going on.
Is it the case that some people on Reddit have just decided amongst themselves that they're going to buy and hold lot of GameStop? People on Reddit have enough money to affect the stock this much? I'm confused.
Doodle, can you tell me what part of economics are being rewritten? I'm really very interested in this but am having a great deal of trouble figuring it out.
As far as economics being rewritten, I'm referring to company fundamentals having any bearing on price and capital allocation....oh, and rational behavior. Gamestop is essentially a moribund company...it's pretty much the blockbuster of video games with a market cap now of over 10 billion dollars. People know it's a dying company but through crowd psychology are literally making millions off of price action. There is a complete disconnect taking place between wallstreet and the real economy that is entirely out in the open. This is pure gambling based on crowd psychology and the standoff by retail investors is literally bankrupting wall street hedge funds.
Browse r/wallstreetbets....
Re: GME
25 year old kids sitting on 10 million dollars worth of call options saying they refuse to sell until this bankrupt company share price hits 1000 bucks (currently at 150ish) is not economically rational behavior. This is Bitcoin HODLer mentality taking over stock market....
It perhaps requires at least a reevaluation of common investing metrics I think....
It perhaps requires at least a reevaluation of common investing metrics I think....
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Re: GME
This is interesting.
How soon could GameStop start issuing new shares and capture some of this capital?
How soon could GameStop start issuing new shares and capture some of this capital?
Re: GME
Up almost 50% now in aftermarket....to 209! I'm more curious how this unwinds at this point. It's a game of chicken essentially
Re: GME
GUYS. Fama/French, Browne, Bogle, and the 3, 4, 5 or whatever factor models are the past. Why did I waste so much of my life studying the "science" of investing?? The RETARD FACTORTM MODEL IS NOW.
GME TO THE F#@$ING MOON.
BUY AND HOLD TILL MELVIN CAPITAL AND SHITRON ARE BANKRUPT.
Make those pompous Harvard grad hedge fund dilettantes realize they're not better than us!!!!!!
LMAO.
GME TO THE F#@$ING MOON.
BUY AND HOLD TILL MELVIN CAPITAL AND SHITRON ARE BANKRUPT.
Make those pompous Harvard grad hedge fund dilettantes realize they're not better than us!!!!!!
Why can't Melvin capital just uninstall the Robinhood app and reinstall it to restore their save game and get their money back?????
LMAO.
MB
Ruby on Rails rules all
www.allterraininvesting.com
Ruby on Rails rules all
www.allterraininvesting.com
Re: GME
Guys, get me off this subreddit.
I need help.
I need help.
MB
Ruby on Rails rules all
www.allterraininvesting.com
Ruby on Rails rules all
www.allterraininvesting.com
Re: GME
Yep, pretty much. It's like occupy wallstreet 2.0. This time though the peasant crowds aren't shouting in the streets, they are literally gang raping these guys at their own game. It's a beautiful sight. LolQuote: Smith1776
The RETARD FACTOR TM MODEL IS NOW.
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Re: GME
Man this is fun to think about.
This feels like a storm.
Imagine GME turning this into capital and it just keeps running to the point they buy other companies and become a conglomerate.
I thought TSLA was crazy but I think this one will take off like crypto. It has the whole fight the man movement. Has this happened before?
This feels like a storm.
Imagine GME turning this into capital and it just keeps running to the point they buy other companies and become a conglomerate.
I thought TSLA was crazy but I think this one will take off like crypto. It has the whole fight the man movement. Has this happened before?
Re: GME
Here's a good explanation: https://slate.com/technology/2021/01/ga ... s-gme.html
Basically, social media is now big enough that a bunch of individual investors figured out that they can pool enough money to execute the same type of short squeeze normally only the territory of corporations and hedge funds. It won't last, and the stock will almost certainly crash once the Reddit crowd wrings the lemon dry and starts to sell en masse. In the long run, the truly big deal is how it puts a lot of the big hedge funds on notice that they're not the only sharks in the water.
Last edited by Tyler on Tue Jan 26, 2021 10:20 pm, edited 4 times in total.
Re: GME
This is entirely unique phenomenon as far as I can tell. This could start to get epic. The balls on some of these guys still holding with tens of millions of dollars in paper profits is unbelievable.whatchamacallit wrote: ↑Tue Jan 26, 2021 10:13 pm Man this is fun to think about.
This feels like a storm.
Imagine GME turning this into capital and it just keeps running to the point they buy other companies and become a conglomerate.
I thought TSLA was crazy but I think this one will take off like crypto. It has the whole fight the man movement. Has this happened before?
- I Shrugged
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Re: GME
Wouldn’t NOW be the time to short it?
Re: GME
Fama and French will have to update the academic literature to a 7-factor model:
- Market Beta Factor
- Size Factor
- Value Factor
- Profitability Factor
- Investment Factor
- Momentum Factor
- Retard FactorTM
- Market Beta Factor
- Size Factor
- Value Factor
- Profitability Factor
- Investment Factor
- Momentum Factor
- Retard FactorTM
MB
Ruby on Rails rules all
www.allterraininvesting.com
Ruby on Rails rules all
www.allterraininvesting.com
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Re: GME
I don't know. All these years I thought crypto was crazy and it "went to moon".
If buying GME is truly out there on social media as the way to stick it to the man. I felt like that was what was driving crypto this whole time.
Would it be fair to GameStop if the SEC shuts it down?
Another thing that gives this more potential than crypto I feel like is the point of entry. I personally never felt comfortable buying crypto but putting a little money in a stock is going to be a whole lot easier.
Re: GME
Only if you want your face ripped off.
Until the short interest comes down to just an absurd level this thing will move higher. New shorts are coming in only to get squeezed and fuel the rocketship higher.
At some point this will drop 90% in a week as the late to sell longs try to keep some profit but not until short interest drops at least below 100% of the float.
Between May 2018 and q1 2020 i accumulated over 4,000 shares at an average price of about $10.
I rode this sonofabitch all they way down to $2.80 waiting for this mother of all short squeezes. It was like a race between the longs and shorts to see if the shorts could hang on for bankruptcy or start covering first.
GME did a huge buyback of 40% of the shares. Then some activists acquired and it had some life. The price moved big up to $14 and i sold every share last Nov to get out with a tidy profit and lessons learned.
My investment thesis was always that a massive squeeze would come some day and i would stay in until most of the shorts were cleared. Then i got married and had a baby and decided i didn't want to lose the family's money and i chickened out.
Those shares i sold for 55k in Nov are now worth more than 800k. I'm sick over it.
Re: GME
Now almost 1.5 mil...as of premarket....up another 100% overnight.Those shares i sold for 55k in Nov are now worth more than 800k. I'm sick over it
You must have forgotten to apply the retard factor into your trading algorithm
But you know who is sicker? Melvin
- Kriegsspiel
- Executive Member
- Posts: 4052
- Joined: Sun Sep 16, 2012 5:28 pm
Re: GME
What I'm taking from this whole situation is that there's a more interesting variant of autism than the ones who can list every train engine by memory.
You there, Ephialtes. May you live forever.