Social WR Lounge V221: Brady is an overrated can

Should we replace Lead?

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Prokofievian said:
If you're a leftist with a broker account and haven't put in a buy order for GME by this point, you go to gulag.
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Funnily enough (as pointed out in the clip I posted), completely unrelated stock GME on the ASX has also seen a 53% surge in value.
So the idea that this is some big player's "long game", rather than just the social media reaction it appears to be... seems pretty unlikely.
 
Ruprecht said:
Funnily enough (as pointed out in the clip I posted), completely unrelated stock GME on the ASX has also seen a 53% surge in value.
So the idea that this is some big player's "long game", rather than just the social media reaction it appears to be... seems pretty unlikely.
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Ok
 
Sketch said:
Ok
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One of the commentators was asserting that was the case.
ie "you aren't really sticking it to big money, you're just a patsy for one group of billionaires against the other".
The cynicism is appealing under the circumstances, but the evidence is lacking.

ASX is fairly heavily regulated. Noone was heavily shorting GME on the ASX because it's not a viable strategy. Naked short selling attracts punitive regulation (as opposed to whatever the SEC supposedly does, although not to the same extent as some), so you're not getting short interest over 100% here. The biggest risk of a short squeeze on the ASX was Invocare, which had a short interest of 8.1%.
The fact that a bunch of investors:

a.) didn't realise that GME on the ASX was a different company
b.) didn't realise that noone was shorting it
c.) bought it in sufficient quantities to trigger a regulatory halt anyway

Is pretty compelling evidence that it really is just a viral trend on social media.
 
Ruprecht said:
One of the commentators was asserting that was the case.
ie "you aren't really sticking it to big money, you're just a patsy for one group of billionaires against the other".
The cynicism is appealing under the circumstances, but the evidence is lacking.

ASX is fairly heavily regulated. Noone was heavily shorting GME on the ASX because it's not a viable strategy. Naked short selling attracts punitive regulation (as opposed to whatever the SEC supposedly does, although not to the same extent as some), so you're not getting short interest over 100% here. The biggest risk of a stock squeeze on the ASX was Invocare, which had a short interest of 8.1%.
The fact that a bunch of investors:

a.) didn't realise that GME on the ASX was a different company
b.) didn't realise that noone was shorting it
c.) bought it in sufficient quantities to trigger a regulatory halt anyway

Is pretty compelling evidence that it really is just a viral trend on social media.
Click to expand...

Oh nice
 
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