Gamestop stock being pumped to the moon by Redditors

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, but they are planning on buying them on Friday to drive the price to $5k.
 
Zazen said:
I'm glad this is happening, Americans need to start fighting back anyway they can. This is much better than being violent because this time they're forced to look into a mirror and see their own practices. They can't condemn this shit without coming across as hypocrites. So much wealth was gained by the top 1% during the pandemic and we got fuck all, time to claim some back
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I just add, I don't know if you agree, but I think the biggest screw job happened with governors who shut their states down granting exemptions to businesses that were totally inconsistent with their criteria for essential jobs. The GM factory in my area was basically exempt from the governor's mandates and yet they exclusively produce luxury vehicles. I can't think of anything less essential than a Camero or Corvette. And actually, the only reason they were shut down in the first place, was because workers ended up walking out en masse when given the option to go home without pay. The governor never actually imposed a shutdown on them. Meanwhile, you have WWE being considered essential in Florida, Hollywood getting to do their Hollywood things.

As far as some getting rich while others went broke during the pandemic, I think that sort of inconsistency and favoritism (if that is what it was) was the greatest culprit.
 
Kforcer said:
BB was being touted for whatever reason, before the whole WSB hype train supposedly started on them. I guess because they got 5G...?
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Blackberry is actually a solid company. They just do more business to business online security type stuff that the general public doesn't see. So the average Joe says, "nobody uses blackberry phones anymore so that company must be going bankrupt" but that's not accurate.

That's like someone looking at Amazon and saying "oh that website that sells books? Yeah they won't last long because nobody reads books anymore"
 
Fedorgasm said:
Blackberry is actually a solid company. They just do more business to business online security type stuff that the general public doesn't see. So the average Joe says, "nobody uses blackberry phones anymore so that company must be going bankrupt" but that's not accurate.

That's like someone looking at Amazon and saying "oh that website that sells books? Yeah they won't last long because nobody reads books anymore"
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Gotcha. I guess I'd heard something about them being involved in security, but I figured the 5G thing was also a big part of the sudden surge in interest. Unless I'm totally making the 5G thing up in my head. But I thought that was the case.
 
rj144 said:
Yes, but they are planning on buying them on Friday to drive the price to $5k.
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By they, you mean the hedge fund who shorted the stock? Why would they do that? My understanding is everyone is holding their shares until the shorts expire and the short holders are forced to buy. But, I guess what I'm asking is, what's stopping them from just saying, sorry, we're bankrupt and can't pay?

When you take a short position do you have to put collateral down? How could you ever know the required amount of collateral if it depends on the stock price at call?
 
Kforcer said:
Just sounds very suspect, though. I mean, are they particularly violent, etc.? Seems awfully convenient timing.
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The main thread/channel (wallstreetbets) is down now too.

Possibly (probably) just due to massive volume of visitors.
 
So is there still money to be made on this or has that ship sailed? Asking for a friend
 
This will go down as fast as it went up, GS is finished. Real money is in bio tech. Made some good coin this week. VKTX, DVAX, OKP, AMRN, VERU all still under $10 with tons of upside.
 
rj144 said:
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Well thats fucked up. Plus Ameritrade has temporarily banned people buying Gamestop stocks. Whole bunch of fuckery going on to try to stop the Redditors. This is fucking messed up
 
ProPROpro said:
Well thats fucked up. Plus Ameritrade has temporarily banned people buying Gamestop stocks. Whole bunch of fuckery going on to try to stop the Redditors. This is fucking messed up
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What happens when they ban people from selling during the selloff?
 
Here's the thing said:
It's fucking awesome. It's a battle between redditors and hedge fund managers. It's a real life game of chicken with billions of dollars on the line.

One thing is for sure...whoever loses is getting fucked ROYALLY. It's like nothing we've ever seen.
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It's like nothing YOU'VE ever seen.
 
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