Economy stonks v13, gamestonkegeddon

Bubzeh said:
Anyone able to summarise this whole saga rather simply please?
Click to expand...
Bunch of super wealthy guys make money by betting on companies to fail/go bankrupt. They got over their skis on GameStop stock. A bunch of redditors began buying the stock making the price go up and causing the wealthy who bet against it lose a lot of money . They could theoretically continue to drive the price up and make them lose more but a large number of stock trading apps banned purchase of GameStop stock making the redditors more angry and more willing to stick it out, buy and hold
 
D 1 Wrestler said:
Bunch of super wealthy guys make money by betting on companies to fail/go bankrupt. They got over their skis on GameStop stock. A bunch of redditors began buying the stock making the price go up and causing the wealthy who bet against it lose a lot of money . They could theoretically continue to drive the price up and make them lose more but a large number of stock trading apps banned purchase of GameStop stock making the redditors more angry and more willing to stick it out, buy and hold
Click to expand...

sorta, but kinda worse. they weren't just betting against gamestop, they were actively trying to ~bankrupt them by aggressively shorting, which devalued the stock (and therefore, the company).

if gamespot didn't continually have short interest well in excess of 100%, this never would have happened.
 
K1levelgrappler said:
In four years you’re going to vote for somebody who will shower these hedge fund guys in tax cuts. All they’ll have to do is mumble something about transgender sports or immigrants and you’ll forget all about this.
Click to expand...
No chance.
I’m becoming more of an adherent that nobody should vote. If we could get voting numbers down to like 30%, we could have an even better argument that the government is illegitimate. In the 90s it was below 50%
 
Bubzeh said:
Anyone able to summarise this whole saga rather simply please?
Click to expand...

  • Hedge funds borrowed a bunch of Gamestop to sell, and every month they haven't returned it, they have to pay money to the lender. The amount they have to pay month to the lender is based on the share price. The idea was that Gamestop stock would go down in value, and they could just buy the shares that they sold back for very cheap and return them.
  • Reddit recognized than absolutely number of shares were borrowed and sold like this by the hedge funds.
  • Reddit bought up a ton of GameStop stock to raise the price and hold onto.
  • The price skyrocketed.
  • The hedge funds now have to buy the stock back from Redditors at ridiculous prices, or pay huge amounts of premiums to the lenders of the shares they originally borrowed. This is threatening to actually bankrupt a ton of hedge funds
  • The hedge funds got with the brokers and had the brokers force their users to stop buying GameStop stock.
 
rob mafia said:
sorta, but kinda worse. they weren't just betting against gamestop, they were actively trying to ~bankrupt them by aggressively shorting, which devalued the stock (and therefore, the company).

if gamespot didn't continually have short interest well in excess of 100%, this never would have happened.
Click to expand...

Yep. The only way out of >100% short interest that isn't an absolute bloodbath is if the underlying company goes bankrupt and shares go to zero. The hedge funds wanted GameStop bankrupt.
 
K1levelgrappler said:
In four years you’re going to vote for somebody who will shower these hedge fund guys in tax cuts. All they’ll have to do is mumble something about transgender sports or immigrants and you’ll forget all about this.
Click to expand...

Cmon guys. Keep the partisan out of this. Yes, we have our difference on transgender sports and guns and Covid and all that shit. Doesn't matter. Lets work together on this one fucking thing. If AOC wants to take on the hedge funds, I support her.
 
rob mafia said:
seriously, cnbc is a total sham. elizabeth warren? we all know she's just going to grandstand. she won't answer shit.
Click to expand...
lol why are you made they have Warren on when they also have Winkledick and Chamath and Tony Robbins weekly?
 
Time to start refuelling tommorow.

Firstly, if your with robinhood get the fuck out. The broker is corrupt as we learned today.. so do not support it and secondly leave a 1 star review.. Closed my account moving all funds over.

Once moved over will buy more GME as I haven't been able too on these garbage brokers.

Hold the line and enjoy the journey. Wsbets upto 5m users. Gaining almost 1m every two days. More buyers will pour in 100%

GME to the moon
 
brackis1 said:
lol why are you made they have Warren on when they also have Winkledick and Chamath and Tony Robbins weekly?
Click to expand...

they're not politicians, though. these fuckers are incapable of doing their job or just giving a straight answer. just hypocrisy and SO MUCH GRANDSTANDING.

she didn't answer a damn thing, yet. she did grandstand about women and republicans and unemployment and how being a mommy is a job... jack shit about the actual topic, though. WHO COULD HAVE SEEN THIS COMING?

now she's grandstanding about "the workforce."

aaaaaaand now she's grandstanding about some "wealth tax."

she was asked about robinhood restricting tickers. ffs


edit: the problem is that the cnbc hosts just sit there and let the dems grandstand. it's all they do. they don't cut them off and engage them on the actual topic, unlike with chamath and etc. they bow down to them and just hand them a platform to waste time bullshitttttttttttttttttttttttting.

like, seriously - this stupid, pompous cunt is supposed to be in charge of this shit? she didn't give even one answer.
 
Last edited:
Gas121 said:
Time to start refuelling tommorow.

Firstly, if your with robinhood get the fuck out. The broker is corrupt as we learned today.. so do not support it and secondly leave a 1 star review.. Closed my account moving all funds over.

Once moved over will buy more GME as I haven't been able too on these garbage brokers.

Hold the line and enjoy the journey. Wsbets upto 5m users. Gaining almost 1m every two days. More buyers will pour in 100%

GME to the moon
Click to expand...

I'm letting my current positions in RH ride. As I close them, I'll move the cash over to Fidelity, which already holds my Roth. I bought more GME today during the dip in my Roth and am already up big.
 
Gas121 said:
Time to start refuelling tommorow.

Firstly, if your with robinhood get the fuck out. The broker is corrupt as we learned today.. so do not support it and secondly leave a 1 star review.. Closed my account moving all funds over.

Once moved over will buy more GME as I haven't been able too on these garbage brokers.

Hold the line and enjoy the journey. Wsbets upto 5m users. Gaining almost 1m every two days. More buyers will pour in 100%

GME to the moon
Click to expand...
What's an alternative to Robinhood for people that never bought stocks before like me? I'd like to put a few bucks in just to stick it to those hedge vultures, but I have no clue how it works lol
 
GtehMVP said:
What's an alternative to Robinhood for people that never bought stocks before like me? I'd like to put a few bucks in just to stick it to those hedge vultures, but I have no clue how it works lol
Click to expand...
If you want to stick it to hedge funds you stay out of the market entirely lol
 
GtehMVP said:
What's an alternative to Robinhood for people that never bought stocks before like me? I'd like to put a few bucks in just to stick it to those hedge vultures, but I have no clue how it works lol
Click to expand...

Webull is allowing trades with stonks. Seems decent..

DO not use robinhood. After today they will likely lose millions of dollars and users.
 
You must log in or register to reply here.

Latest posts

Forum statistics

Threads
1,280,458
Messages
58,285,551
Members
175,994
Latest member
Doomer

Share this page

Back
Top