OT: OT Thread Part 7: Where the Only Off Off Topic is Politics (Well Not Literally!)

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bellagiobob

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Jul 27, 2006
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Join the gamestop movement ladies and gents. This will be a historic week for the stock market all on the backs of the regular public. When the stock hits $115 the hedge funds lose so jump on and join the mission!!





It really is an interesting story, with the battle between old Wall Street and the new social media/internet subgroup trading armies. Short squeeze gone very wrong. Based on valuations, this stock only has one way to go, and that’s down, but for now valuations are clearly out the window. Best of luck and make sure you have an exit strategy.
 
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Frank the Tank

The Godfather
Aug 15, 2005
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Chicago, IL




It really is an interesting story, with the battle between old Wall Street and the new social media/internet subgroup trading armies. Short squeeze gone very wrong. Based on valuations, this stock only has one way to go, and that’s down, but for now valuations are clearly out the window. Best of luck and make sure you have an exit strategy.

I read a detailed reddit thread last week (before this blew up) about how r/Wallstreetbets had the billion dollar hedge funds over a barrel because of the gamma squeeze on those shorting the stock. That's when the GME stock price was still around $30. Now a week later any amount invested would be worth 10 times as much. Following that sub and the GME stock price has been interesting this past week.
 
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bellagiobob

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I read a detailed reddit thread last week (before this blew up) about how r/Wallstreetbets had the billion dollar hedge funds over a barrel because of the gamma squeeze on those shorting the stock. That's when the GME stock price was still around $30. Now a week later any amount invested would be worth 10 times as much. Following that sub and the GME stock price has been interesting this past week.

Now it’s AMC and Blackberry. Numerous halts this week on all these stocks. Pump and dump with a twist, just don’t be the one holding the bag when the circus leaves town. It really is interesting to follow this.
 
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Skar

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Jul 2, 2016
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Interview from this morning with Chamath Palihapitiya on CNBC. Good information from Chamath here.

 
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iCanada

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Feb 6, 2010
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This game stop stuff warms the cockles of my heart. You make a bad bet and lose your shirt? Unlucky.

Maybe they should be cooking at home, utilizing public transportation, and skipping the avocado toast. :laugh:

Helps that I invested a hundo into GameStop a week ago, though.
 
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XXIV97

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Jun 2, 2016
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Stoneman89

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Feb 8, 2008
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San Francisco to strip Abraham Lincoln, George Washington from school names

San Francisco to strip Abraham Lincoln, George Washington from school names | Canoe.Com

And...the cancel culture and their mob win again! Never thought I'd see the day when Honest Abe was removed, but here we are. Going to be a little difficult with the inevitable takedown of the Washington monument, but nothing a few cranes and some demo crews can't accomplish.
 

iCanada

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Feb 6, 2010
18,940
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Edmonton
Back up again. Hopefully people take a profit and don't get greedy, cause this is going to get ugly when these collapse.

I think a lot of people aren't in it for the money. It's about sending a message. It's about striking back at the wealthy for the first time in a long time in the class warfare they've been waging and winning for 50 years. It's occupy Wall Street with less lazy grandstanding and by playing by their same rules. It's about the 1% paying their fair share of taxes and paying labour a living wage. It's about putting the screws to the same guys that put the screws to all of us in 2008.

Personally I invested $100, I think the average WSB position was an initial investment if ~$500. And as a collective, we've got them over a barrel. They need to buy 250% of all the GME stocks on the market to fulfill their short commitments. They overleveraged themselves trying to put a business and their 50k employees out of business for their own personal gain. To be frank, f*** em. Even if it all goes tits up, still probably the best investment I'll likely ever make.

I cashed out for 10k, bought all my shares back in the dip for about 6k... As a guy whose been out of work for 6 months, taking the EI burden off the tax payer for a couple month's is more than worth it. I'm going to ride it right out and squeeze em for all their worth. And if I lose everything, and they lose everything... Well I had nothing to lose and maybe next time they'll think before they play games with companies that provide value and all of their employees livelihoods... You know assuming they can recover from being collassally outmanuevered by a bunch of nobodies that go by the handle of poopfeast420 & misterfister69 in a public manner. These short-and-distort sellers don’t build anything or provide any value, all they do is siphon wealth from us little guys to themselves so they can buy their third yachts.

Hopefully the fallout from this provides some meaningful change.
 

bellagiobob

Registered User
Jul 27, 2006
22,310
51,668
I think a lot of people aren't in it for the money. It's about sending a message. It's about striking back at the wealthy for the first time in a long time in the class warfare they've been waging and winning for 50 years. It's occupy Wall Street with less lazy grandstanding and by playing by their same rules. It's about the 1% paying their fair share of taxes and paying labour a living wage. It's about putting the screws to the same guys that put the screws to all of us in 2008.

Personally I invested $100, I think the average WSB position was an initial investment if ~$500. And as a collective, we've got them over a barrel. They need to buy 250% of all the GME stocks on the market to fulfill their short commitments. They overleveraged themselves trying to put a business and their 50k employees out of business for their own personal gain. To be frank, f*** em. Even if it all goes tits up, still probably the best investment I'll likely ever make.

I cashed out for 10k, bought all my shares back in the dip for about 6k... As a guy whose been out of work for 6 months, taking the EI burden off the tax payer for a couple month's is more than worth it. I'm going to ride it right out and squeeze em for all their worth. And if I lose everything, and they lose everything... Well I had nothing to lose and maybe next time they'll think before they play games with companies that provide value and all of their employees livelihoods... You know assuming they can recover from being collassally outmanuevered by a bunch of nobodies that go by the handle of poopfeast420 & misterfister69 in a public manner. These short-and-distort sellers don’t build anything or provide any value, all they do is siphon wealth from us little guys to themselves so they can buy their third yachts.

Hopefully the fallout from this provides some meaningful change.

I’m sure there are some that are doing this for altruistic reasons, but most people are out to make a buck. That’s why they are in that group. There will be those that got caught up in the frenzy that bought at $400+, and when the shorts are covered and the mob moves onto the next stock, and the stock plummets back to its proper value, there will be a lot of angry bag holders. I’ve seen some of the posted YOLO accounts. Some big $$$. As an aside, I’m all for these short sellers getting fed their breakfast. Nice to see.
 
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iCanada

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Feb 6, 2010
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Edmonton
The only reason Gamestop's stock went down 20% is since Citadel, which is the company that gave Melvin Capital Management $2 bn bailout, does business with Robinhood (preferred app of most traders in the U.S). Robinhood stopped the buying of stocks like Gamestop today and only allowed people to sell it.


How Payment For Order Flow is impacting markets: The Robinhood and Citadel Case - BSIC | Bocconi Students Investment Club

Robinhood in the past: "Let the people trade!"
Robinhood today: "No, not like that!"
 

StoveTopStauffer

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Apr 6, 2012
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I’m sure there are some that are doing this for altruistic reasons, but most people are out to make a buck. That’s why they are in that group. There will be those that got caught up in the frenzy that bought at $400+, and when the shorts are covered and the mob moves onto the next stock, and the stock plummets back to its proper value, there will be a lot of angry bag holders. I’ve seen some of the posted YOLO accounts. Some big $$$. As an aside, I’m all for these short sellers getting fed their breakfast. Nice to see.

I'm in it to be apart of the chaos myself :D.

But I definitely have my limits set!
 
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Bryanbryoil

Pray For Ukraine
Sep 13, 2004
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