Gamestop stock being pumped to the moon by Redditors

Prefect said:
The video game industry is huge. Far bigger than people think based on the number of stores around. Even if the stores only capture 1%, that is easily billions of dollars. I don't think people even comprehend how big it is. It is between 3 and 4 times bigger than both the movie and music industries.
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Everything is going to download and people will buy systems on amazon
 
dirtypablo said:
Sure, but what does that actually mean? They'll have to buy 20 million shares at whatever the market price is? What happens if they don't have the money? What if they say sorry we're bankrupt? Is that possible?
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Yes, this is why they did it, to kill the shorters
 
ProPROpro said:
They won't ban selling. They are trying to save Melvin Capital from going under
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I was thinking about after the options expire, but I guess there really isn't a scenario where they would want to stop selling?

My heart wants to believe a ton of normal people are going to clean up on this and that giant hedge funds are going to have take the loss. My brain tells me that's not likely. I really hope I'm wrong, but I'm not convinced this whole thing doesn't just collapse Friday with hedge funds saying sorry, you're out of luck, we don't have the funds to buy the shares.
 
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dirtypablo said:
I was thinking about after the options expire, but I guess there really isn't a scenario where they would want to stop selling?

My heart wants to believe a ton of normal people are going to clean up on this and that giant hedge funds are going to have take the loss. My brain tells me that's not likely. I really hope I'm wrong, but I'm not convinced this whole thing doesn't just collapse Friday with hedge funds saying sorry, you're out of luck, we don't have the funds to buy the shares.
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MC will try to snake their way out of this in any way possible.

It's completely fucked that actual financial institutions are trying to stop people from buying stock in Gamestop. I guarantee that Ameritrade/American Express has a relationship with Melvin Capital and are trying to help minimize losses under the guise of "customer protection." What complete bullshit..
 
rj144 said:
A rumor collapsed Lehman Brothers in a matter of days, right?
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Not exactly. Lehman's was balls deep in questionable mortgage papers, CDOs, and various other structured finance products, a lot of which had gone bad and ended up underwater. They'd been losing money since 2007 and using fraudulent accounting to cover their losses. Their counterparties started calling them in, forcing them to begin liquidating their assets along with hitting the Federal Reserve's emergency lending facilities. They ran out of collateral to swap with the Fed for emergency funding, and when word of that got out it was a short trip to the grave.

Lehman's was already doomed early in the year, it was headed downhill for at least a good 6-7 months before the final crash that killed it.
 
Fedorgasm said:
I think there is a stock market bubble so you could look at previous bubbles to see what happens afterwards.

Economy tanks, businesses go belly up, unemployment goes up, tons of new traders that made money this year will lose everything, and this last part is just my own personal opinion but I think people will lose a ton from their retirement accounts too.

So you'll have a lot of old people that are suddenly broke but too old to work, so the govt will have to step in to take care of them, and raise taxes on the young employed people to pay for it all, which will discourage many young people from working at all. So they'll live off welfare until there's too many of them and it breaks the whole system.
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Different culture I guess. Generally where I live an elder won’t save for retirement but will have a home paid off by age 60. When no longer able to work the elder will sell the home and move in with children or grandchildren. Sale of the old house eases financial burden for everyone. This seems to be the old way though.
 
ProPROpro said:
MC will try to snake their way out of this in any way possible.

It's completely fucked that actual financial institutions are trying to stop people from buying stock in Gamestop. I guarantee that Ameritrade/American Express has a relationship with Melvin Capital and are trying to help minimize losses under the guise of "customer protection." What complete bullshit..
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That's my thought - if they can work something out with the SEC where they pay some 20 or even 200 million dollar fine that's an order of magnitude less than actually buying the shorts. Does anyone think our government wouldn't let them get away with it?
 
dirtypablo said:
That's my thought - if they can work something out with the SEC where they pay some 20 or even 200 million dollar fine that's an order of magnitude less than actually buying the shorts. Does anyone think our government wouldn't let them get away with it?
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That's a very possible scenario. They will get a slap on the wrist, and then business will continue as usual.
 
chance mccoy said:
Everything is going to download and people will buy systems on amazon
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Every major city has bunch of game retro resale places. There is a market there. When my controller broke, I walked 10 minutes to a Game Stop and got another. I am not going to say that Game Stop or video game shops have a huge market. All I am say is they they will always have a sliver in an incredible huge market and that sliver is enough to keep shops going.
 
Prefect said:
Every major city has bunch of game retro resale places. There is a market there. When my controller broke, I walked 10 minutes to a Game Stop and got another. I am not going to say that Game Stop or video game shops have a huge market. All I am say is they they will always have a sliver in an incredible huge market and that sliver is enough to keep shops going.
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The GameStop by me, Portland OR, is in the midst of liquidation, everything must go
 
aerius said:
Not exactly. Lehman's was balls deep in questionable mortgage papers, CDOs, and various other structured finance products, a lot of which had gone bad and ended up underwater. They'd been losing money since 2007 and using fraudulent accounting to cover their losses. Their counterparties started calling them in, forcing them to begin liquidating their assets along with hitting the Federal Reserve's emergency lending facilities. They ran out of collateral to swap with the Fed for emergency funding, and when word of that got out it was a short trip to the grave.

Lehman's was already doomed early in the year, it was headed downhill for at least a good 6-7 months before the final crash that killed it.
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My bad. I got them confused with Bear Stearns.
 
what theyre doing is illegal
many years ago some kid got busted cuz he would post a "hot stock" on internet forums that he had just bought, it would go up from the buzz, he would sell and make $

he got busted for it
 
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LMAO 4chan

Anonymous (ID: /r2xAWkP) 01/27/21(Wed)18:39:50 No.305407613▶>>305407951 >>305408023 >>305408043 >>305408729 >>305408861 >>305409078 >>305409101 >>305409222 >>305409255 >>305409267 >>305409655 >>305409819 >>305410312 >>305410410 >>305410461 >>305410485 >>305410513 >>305410540 >>305410544 >>305410723 >>305411046 >>305411283 >>305411355 >>305411422 >>305411550 >>305411558 >>305411682 >>305411713 >>305411720 >>305411730 >>305412178 >>305412371 >>305412472 >>305412685 >>305412792

"I never thought I'd die fighting side by side with a redditor."

EDIT - added link: https://boards.4chan.org/pol/thread/305407486
 
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lostdog000 said:
what theyre doing is illegal
many years ago some kid got busted cuz he would post a "hot stock" on internet forums that he had just bought, it would go up from the buzz, he would sell and make $

he got busted for it
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I don't think it is because there are no invalid claims being made. Telling people to buy a stock to fuck short sellers is not a lie about Game Stop's stock. If people where going around saying that there was a buyout about to happen, that would be an infraction.
 
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