'We love this stock': GameStop effect spreads as calls for probe build

[pedro01]

33 minutes ago, Jan Dietz said:

Try shorting Onions, see what happens. 

 

Not the first time...

You can't short options. 

[placeholder]

On 1/30/2021 at 4:34 PM, ExpatOK said:

This is a financial populist revolt.  

 

I'm pleasantly surprised at some of the comments by those who hate one particular populist.

 

There's hope for you all!

If your idea of populism is a movement to make the rich richer and the well-connected more protected.

[placeholder]

22 hours ago, ExpatOK said:

Thank you. You are coming around to a populist way of thinking.

 

Congratulations and Welcome Aboard!

Says the supporter of a certain person who eased regulations on hedge funds and banks. The same people who brought on the 2008 financial disaster.

[Misty]

On 1/30/2021 at 8:32 AM, Berkshire said:

If I were a betting man, I'd short the crp out of GME.  But I'm going to stay out of this one.  When this is all over--probably soon--some people are going to lose their ass.  Hedgies, perhaps, but mostly retail pissants.   

 

Some people (new investors writing naked call options) have already lost their ass.  Some brokers in poorly regulated jurisdictions may also be losing their ass.  And if those brokers are using clearing houses in better regulated jurisdictions (they are), the pain may be more widely spread.

[Misty]

A primary function of capital markets is supposed to be to help companies access new capital. Perhaps GameStop should consider a large capital raising exercise now, since their shares are so popular.

[Neeranam]

Looks like XRP is the follow on from this gamestop. Today at 8.30 pm a group of average people are pumping the cryptocurrency. 

 

https://www.coindesk.com/xrp-ripple-price-3-year-high-telegram-groups

 

 

 

 

 

Edited February 1, 2021 by Neeranam

[impulse]

22 hours ago, pedro01 said:

You can't buy shares that aren't available, why should you be able to short sell more than exist? That is nonsense. 

 

Saw an interesting explanation for how that happens.  If Tom wants to short a stock, he borrows 1000 shares from Bill, with a promise to replace them later.  He sells those borrowed shares to John.  Then Jack borrows the shares from John, promising to replace them later.  He sells them to some reddit guys.

 

In that massively oversimplified example, Tom and Jack have written 2000 short contracts on 1000 available shares.

 

I'm just not sure how the reddit guys cash out if they bankrupt Tom and Jack.  Can't get blood out of a rock.

 

Edited February 1, 2021 by impulse

[GrandPapillon]

there is an interesting interview of RH CEO vlad with Elon Musk asking him for answers ????

 

recorded this morning PST on YT ????

Edited February 1, 2021 by GrandPapillon

[Virt]

On 1/30/2021 at 4:13 AM, meechai said:

They have also turned their attention to Silver which will be fun too.

Last two days has been interesting ????

 

Silver up 11 %. Did you get your share ????

[candide]

It's a good time to shortsell Gamestop. The price already went down from $379 on 29 January to $241.

 

As I wrote before, the small guys who just imitated others and bought shares late, just because It's so simple to click on an app, are (will be) screwed.

And edge funds are catching up for some of their loss.

 

Remember the target price (the true economic value) is around $10

 

Edited February 1, 2021 by candide

[candide]

On 1/30/2021 at 4:15 PM, candide said:

A long but excellent opinion article.

https://www.bloomberg.com/opinion/articles/2021-01-28/knowing-when-to-sell-gamestop-stock-at-the-top-is-impossible

 

23 hours ago, pedro01 said:

 

Shorting is a good thing. Here's why. 

 

 

The S&P500 was at 2,200 in mid 2000 and didn't reach those levels again till 2015. It took 8 years to bottom out. Imagine having a massive amount of your personal wealth locked into a 401k for that period, watching it drop and not being able to go short. 

 

Saying that, shorting more shares than exist is ludicrous.

 

You and I have to borrow shares and pay interest during the holding time. Those rules don't seem to apply to hedge funds, who shorted more than 100% of the float. 

 

Shares available to float should be limited to those made available by holders allowing them to borrow. 

 

You can't buy shares that aren't available, why should you be able to short sell more than exist? That is nonsense. 

You should read the article. It takes time and requires some concentration, but It's fascinating how many ramifications this topic has.

[SunnyinBangrak]

4 hours ago, candide said:

It's a good time to shortsell Gamestop. The price already went down from $379 on 29 January to $241.

 

As I wrote before, the small guys who just imitated others and bought shares late, just because It's so simple to click on an app, are (will be) screwed.

And edge funds are catching up for some of their loss.

 

Remember the target price (the true economic value) is around $10

 

Dangerous advice. I take it you are not a regulated financial advisor? the 140% outstanding short IS the fundamental reason why GME could just as easily pop to $1,000 as $10 where it belongs. You would need deep pockets shorting GME at $250 if it quadruples. Sitting on the sidelines is the sensible place to be unless you want a coin toss gamble.

 

Edit.the price today dropped only because the trading platforms are still limiting buys

Edited February 1, 2021 by SunnyinBangrak

[GrandPapillon]

the stock is worth <deleted>, no need to be a registered financial advisor to see that.

 

Check the P/E for $GME, it's probably something like 10000x,  more than AAPL or GOOG combined LOL

[Lacessit]

Shorting is a legitimate way of business for investors who are looking for poorly run companies to make money on. It becomes illegitimate when the short seller is selling shares they don't own and have not borrowed from someone else, the so-called naked short. It's even more illegitimate when the short seller spreads false rumors about the financial position of a company they are attacking. IMO scum like that belong in jail.

Naked short selling is banned in Australia, another example of where America could do some catching up.

Interesting to note the shorts are attacking Tassal in Australia. That's a well run business with plenty of demand and a solid balance sheet that pays dividends like clockwork. Think I'll put some of my money where my mouth is tomorrow.

 

[Sujo]

1 hour ago, GrandPapillon said:

the stock is worth <deleted>, no need to be a registered financial advisor to see that.

 

Check the P/E for $GME, it's probably something like 10000x,  more than AAPL or GOOG combined LOL

The stock is worth what people are willing to pay for it.

[PattayaJames]

15 hours ago, Virt said:

Silver up 11 %. Did you get your share ????

 

Due to a coordinated attack by the fake MSM publishing worldwide a lie. 

[Lacessit]

1 hour ago, PattayaJames said:

 

Due to a coordinated attack by the fake MSM publishing worldwide a lie. 

Be still my fluttering heart. What real media source do you rely on for your information?

[Credo]

5 hours ago, Sujo said:

The stock is worth what people are willing to pay for it.

The stock maybe, but it's doubtful that company is.

 

[Credo]

4 hours ago, PattayaJames said:

 

Due to a coordinated attack by the fake MSM publishing worldwide a lie. 

So publications like "Business Insider", "Market Watch", and "Market Place" are part of the 'fake' MSM?   

[candide]

20 hours ago, candide said:

It's a good time to shortsell Gamestop. The price already went down from $379 on 29 January to $241.

 

As I wrote before, the small guys who just imitated others and bought shares late, just because It's so simple to click on an app, are (will be) screwed.

And edge funds are catching up for some of their loss.

 

Remember the target price (the true economic value) is around $10

 

 

15 hours ago, SunnyinBangrak said:

Dangerous advice. I take it you are not a regulated financial advisor? the 140% outstanding short IS the fundamental reason why GME could just as easily pop to $1,000 as $10 where it belongs. You would need deep pockets shorting GME at $250 if it quadruples. Sitting on the sidelines is the sensible place to be unless you want a coin toss gamble.

 

Edit.the price today dropped only because the trading platforms are still limiting buys

It was just my personal opinion.

Anyway, Gamestop shares now at $116. It went down to 103, now climbing up a bit, probably because some shortsellers are buying what they sold at 300+ before. Down to 110 the time I wrote this post.

[PattayaJames]

13 minutes ago, Credo said:

So publications like "Business Insider", "Market Watch", and "Market Place" are part of the 'fake' MSM?   

 

Seems like it, have a read of the comments on this story: https://www.marketwatch.com/story/silver-gets-the-gamestop-treatment-rallies-by-as-much-as-13-11612203674

[Credo]

4 hours ago, PattayaJames said:

 

Seems like it, have a read of the comments on this story: https://www.marketwatch.com/story/silver-gets-the-gamestop-treatment-rallies-by-as-much-as-13-11612203674

That's amusing.  I don't see anything fake in that story.  

 

Reporting the news is not fake.

 

 

[Scott]

A post with foreign language has been removed.  English only.

 

[Berkshire]

On 1/30/2021 at 8:32 AM, Berkshire said:

If I were a betting man, I'd short the crp out of GME.  But I'm going to stay out of this one.  When this is all over--probably soon--some people are going to lose their ass.  Hedgies, perhaps, but mostly retail pissants.   

Looks like the fun is about over.  This stock went from $325 to $53 in four days.  And no, I didn't short this puppy when I had the chance.  Such is life...555