The battle over Gamestop is getting really interesting

I would be curious if anyone can find the short interest after today? Typically paid for data but it typically leaks daily now with GME.
 
LordOfChaos said:
Down 14 million dollars and still holding. This guy sniffing this all out a year ahead of any of us gives me a lot of confidence.

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Count Me In Rick And Morty GIF
 
By the way, as if it was not evident enough, RH are fucking thieves. RH manipulated the price (allowing only selling, causing price to crash), which caused peoples like this, to get margin called at the lowest price (bottom of the day)

k3cj2apdh4e61.jpg


How fucking slimy.

It's not RobinHood, it's RobTheHood
 
Buggy Loop said:
By the way, as if it was not evident enough, RH are fucking thieves. RH manipulated the price (allowing only selling, causing price to crash), which caused peoples like this, to get margin called at the lowest price (bottom of the day)

k3cj2apdh4e61.jpg


How fucking slimy.

It's not RobinHood, it's RobTheHood
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Any chance they'll get into serious legal troubles for this?
 
Fuz said:
Any chance they'll get into serious legal troubles for this?
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Unfortunately I really doubt it, but if our future is anything like the first part of 2021, then anything is possible.
I hope they're destroyed.
What's the point of a trading app if you can't freely trade.
 
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TransTrender said:
Unfortunately I really doubt it, but if our future is anything like the first part of 2021, then anything is possible.
I hope they're destroyed.
What's the point of a trading app if you can't freely trade.
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Couldn't people sue for loss of potential earnings caused by their block or something?
 
They're apparently allowing limited trading of all the blocked stocks from today, tomorrow. No definition of what limited means, and they still say they can and will step in.

Even so. Move off of RH, Americans. You have plenty of free trading options now, it's nothing novel anymore. But don't trigger a sell of GME to get out if you're holding the wall.
 
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Buggy Loop said:
By the way, as if it was not evident enough, RH are fucking thieves. RH manipulated the price (allowing only selling, causing price to crash), which caused peoples like this, to get margin called at the lowest price (bottom of the day)

k3cj2apdh4e61.jpg


How fucking slimy.

It's not RobinHood, it's RobTheHood
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This is perfectly legal. This poisition was placed on margins. So they couldn't afford to BUY GameStop stock so they borrowed it at a greatly reduced cost to themselves. If they lose all the money, they pay all of it.

It's like borrowing your friend's car. He can still sell the car even while you're borrowing it.

This is why you don't buy stocks on margins.
 
isoRhythm said:
Thread should be renamed to


The battle over Gamestop is getting really really REALLY interesting

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Should read "The battle over Gamestop's corpse is getting really really REALLY interesting".

They will still die in the end :(

Also this is great

2b2ddce467faadfb2d67146c8c652ce84fa17371_331687_u79396.jpg
 
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Croatoan said:
Should read "The battle over Gamestop's corpse is getting really really REALLY interesting".

They will still die in the end :(

Also this is great

2b2ddce467faadfb2d67146c8c652ce84fa17371_331687_u79396.jpg
Click to expand...

Again, GME was up to 40$ from 5 because it looks to be in the best position it's been in since 2014. Gamestop's online sales are killing it and they have new retail prospects. They will be fine.
 
Croatoan said:
Should read "The battle over Gamestop's corpse is getting really really REALLY interesting".

They will still die in the end :(

Also this is great

2b2ddce467faadfb2d67146c8c652ce84fa17371_331687_u79396.jpg
Click to expand...

The funny thing about a short squeeze is it almost doesn't matter. It just be like that.

But I think they have about 500M cash on hand, not completely up to date, but they have runway for a few years at least while their digital sales grow and they trim unprofitable stores. If they did a 10 million share offering at the current, I think it's 5 day moving average price they have to do? They'd add years more to their runway and ability to pivot businesses.

I just don't think Ryan Cohen and Reggie would be tempted to join the next Blockbuster. They're smarter than me and see something there.
 
Bladed Thesis said:
This is perfectly legal. This poisition was placed on margins. So they couldn't afford to BUY GameStop stock so they borrowed it at a greatly reduced cost to themselves. If they lose all the money, they pay all of it.

It's like borrowing your friend's car. He can still sell the car even while you're borrowing it.

This is why you don't buy stocks on margins.
Click to expand...

In order to day-trade or trade options people will often have to set themselves up in margin accounts with their broker. T+2 is a long time to wait when playing with highly volatile stocks.
 
LordOfChaos said:
Hmmmmmmmmmmmmmmmmmmmmmmmmmmm


www.bloomberg.com

Robinhood Is Said to Draw on Bank Credit Lines Amid Tumult

Robinhood Markets, the trading app that’s popular with investors behind this month’s wildest stock swings, has drawn down some of its bank credit lines to ensure it has enough cash to clear trades, according to people with knowledge of the matter.
www.bloomberg.com www.bloomberg.com
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Makes me think there may be at least some truth to their excuse. I don't exactly see how, since they were requiring 100% margin coverage, but who knows.
 
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James Sawyer Ford said:
What they are doing is borderline illegal, so don't expect this to continue into perpetuity.
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Can you name the exact piece of legislation that makes this illegal? There is no insider trading or stock manipulation being done by retail investors.
 
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From WSB
I'm glad this place has quieted down enough for some actual DD written by a monkey with a keyboard and Adderall. Disclaimer: I am that monkey. Let me explain to you what happened, play by play. I will give you illiterates who hate reading a spoiler up front: We were within approximately 30 seconds of triggering a nuclear bomb that would have blown up the market. Do I have your attention? Here goes:

1. ⁠Yesterday, new call option strike prices were added all the way up to $570. Do I have to go over gamma squeezes again? Really? We've been over this: when deep out-of-the-money call options start being gobbled up and the price starts moving towards being in-the-money, the call writers have to hedge their risk of having their sold calls exercised, typically by buying stock. This creates upwards pressure on the market. We've been seeing these movements all week.
2. ⁠Yesterday after market, you probably saw that coordinated effort to drive the price down and spook retail investors into a mass sell-off. It didn't work.
3. ⁠Last night, Robinhood sent out a message to users: you could no longer enter into new options. You could exercise them if you had the collateral (money in the account) to do so. Very interesting and the first sign of pants-shitting fear.
4. ⁠Today, the market opened very strong. It opened so strong that we were looking at a self-perpetuating gamma squeeze all the way up way past $570.
5. ⁠At approximately 9:58 am, the stock had reached $468 in a parabolic move.
6. ⁠Two minutes earlier, at 9:56 am, Robinhood tweeted that they were not allowing users to buy GME stock, but they would allow selling.
7. ⁠The trend instantly halted and started a collapse downwards, before picking up a bit, especially after some retail was allowed back in.

Okay, now that you are clear on the facts, understand this: The market ran out of liquidity today, or was threatening to get close enough that they killed it. What does that mean? It means they ran out of shares and/or capital. They wouldn't let you buy new shares because we were burning through all the shares on the market. I saw an unsubstantiated post from a user who said a small sell limit order executed at $2600 for him. Do you get the severity of the situation, if that's true? It means the buying was getting to the point where it was just about to put INFINITE pressure on the price of the shares. It means virtually any ask was getting bid.

How do you get infinite upwards pressure? A gamma squeeze triggering the mother of all short squeezes, just like we predicted. The call writers need shares to hedge. Retail is still buying more. The short sellers need over 100% of the float back. Add these together. There were more shares needed than existed on the open market. That's what a liquidity crisis is.

Listen to this remarkable (if infuriating) interview where the chairman of Interactive Brokers admits that they didn't have the capital to pay out the winners (us), so they took their ball and went home. DO YOU GRASP HOW INSANE IT IS THAT HE SAID THEY NEEDED TO SHUT DOWN BUY ORDERS TO "PROTECT THE MARKET"? Hello! He's not talking about the market for GME shares. He's talking about the entire market! The New York Stock Exchange. The NASDAQ. All that.

Remember the movie Snowpiercer? Do you remember that scene where the lower class people realize the soldiers who oppress them have no bullets? Go to the 1:00 minute mark of this link:

It kick starts a full blown rebellion. They have no bullets. It's the exact same in this market: No capital. No shares. Infinite losses inbound.

TL;DR: For all you who will just skip to the bottom to ask, "Do I get my tendies now?" the answer is this: they NEED NEED NEED your shares. Do you get that? HOLD. Like the guy in the movie, scream, "They're out of bullets!" and create a stampede. That's how we win.

They needed your shares so badly that they literally risked PRISON TIME to get them. They tried robbing you, and I'm not even exaggerating. They were within 30 seconds of all being wiped out today.

EDIT for all you people who like to see me fling my poo around: I made this its own post now.

Click to expand...
 
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Just so you have an idea in case you're naive to think the SEC will have the "people's" side while some politicians grandstand for political brownies on twitter (parading future-to-be show trails). Just listen to this revolving door witch word for word... makes you puke in disgust.

If you don't think her acting colleagues don't come from the same flock, and mostly share the same mentality, I got a nice call for $40 on Robinhood to sell you at tomorrow's opening (NOT). They look out for their own.

It's Open War.

What about folks simply liking the stock do they not understand? "Integrity of the market".... b...where you been?

 
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Knitted Knight said:
Just so you have an idea in case you're naive to think the SEC will have the "people's" side while some politicians grandstand for political brownies on twitter (parading future-to-be show trails). Just listen to this revolving door witch word for word... makes you puke in disgust.

If you don't think her acting colleagues don't come from the same flock, and mostly share the same mentality, I got a nice call for $40 on Robinhood to sell you at tomorrow's opening (NOT). They look out for their own.

It's Open War.

What about folks simply liking the stock do they not understand? "Integrity of the market".... b...where you been?

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/barf

"Requires a full policy solution"

But they don't even dare to mention that Wall Street can short 140% a company. That's the whole catalyst to what is happening dumb fucks! WSB before was a bunch of porn loss with a rare few times of gain porn.

She's talking about being ok with gamestop stock owners losing money. Fuck that bitch to the moon.
 
She seays a lot more than that. Approval of stoppage of trading of retail by brokers, approval of censoring of discussion channels by social media (reddit, facebook, discord etc). Approval of snooping on individuals and going for witchhunts... stopping trading etc...

A final solution...

You can't make this shit up.
 
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{insert code here} said:
So anyone holding GME stock right now has what equates to.... infinite money.
Am I reading that right???
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Not quite haha, but if we're sucking all of the volume out of the market, and their position has to close, they HAVE to start buying their positions back.

Basically, set some high ass limit sells.

High. ASS.
 
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