The battle over Gamestop is getting really interesting
- Thread starter LordOfChaos
- Start date
A.Romero
Member
Basically, yes. Some people did get major gains (mainly the guy who was able to forsee this a year back and was mocked originally).
However, I don't think it's over still. But momentum was definitely destroyed.... It's still 100% higher than Friday 22nd and 50x higher than a year ago.
I'm thinking GME is actually worth about $50.
Unknown Soldier
Member
What's important here is we revealed the sheer depth of corruption and greed in the system. I went into this expecting to lose everything I put in. I hope that politicians involved now will try to bring about some real reform of the current stock market.
ricardo_sousa11
Member
They are doing whats called a short ladder, its illegal.
The point is, pretty much all brokers are stopping you from buying, and this is a worldwide issue. So the hedge funds prevents you from buying, and they trade between themselves (you can check this real time, or check the previous day by searching "Nasdaq AMC/GME (pick one) real time trades" and pretty much all the sales end in a "0"), which is quite unusual, this also adds to the fidelity premium information of about 90% buy orders 10% sell orders, and the overall volume, drastically decreasing to a 3rd in a single day.
So, they stop you from buying and you can only sell, then they trade between themselves in order to drive down the price so the majority of people panic sell. This is obvious when you check both AMC and GME graphs, they are identical for the last 5 days.
And the Squeeze hasnt happened yet, so they want to buy as many shares as they can now, yet they still have to cover a huge percentage of both companies, they still need to buy extreme ammounts of shares or exit their positions.
Whats been hapening in the market for the past month has left me heart broken, its always been obvious how wall street has its own tricks, but the recent events are purely disgusting, its not about a reddit, if you have basic knowledge on maths or the stock market, there is blatant corruption and market manipulation, thats not what the market is about, its the opposite.
The point is, pretty much all brokers are stopping you from buying, and this is a worldwide issue. So the hedge funds prevents you from buying, and they trade between themselves (you can check this real time, or check the previous day by searching "Nasdaq AMC/GME (pick one) real time trades" and pretty much all the sales end in a "0"), which is quite unusual, this also adds to the fidelity premium information of about 90% buy orders 10% sell orders, and the overall volume, drastically decreasing to a 3rd in a single day.
So, they stop you from buying and you can only sell, then they trade between themselves in order to drive down the price so the majority of people panic sell. This is obvious when you check both AMC and GME graphs, they are identical for the last 5 days.
And the Squeeze hasnt happened yet, so they want to buy as many shares as they can now, yet they still have to cover a huge percentage of both companies, they still need to buy extreme ammounts of shares or exit their positions.
Whats been hapening in the market for the past month has left me heart broken, its always been obvious how wall street has its own tricks, but the recent events are purely disgusting, its not about a reddit, if you have basic knowledge on maths or the stock market, there is blatant corruption and market manipulation, thats not what the market is about, its the opposite.
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BigBooper
Member
This didn't fail. Those billions the hedge fund lost didn't disappear into thin air. The massive hype train diverted it in weird ways, but the short squeeze worked. I don't know how you can look at the price the beginning of Jan and the end of Jan and think it didn't work. People just didn't take a second to think after it had already gone up 10x how much more was there. And even then, there would have been more if the brokers hadn't screwed it up.
A.Romero
Member
The expectation was for something much higher that what it has shown so far. VW and Blue Apron were used as a reference and those yielded much higher results.
I don't think it's lost yet but even if it is, as Unknown Soldier said: it did show to what extent Wall Street is rotten. There should be a bipartisan push to thoroughly investigate and get to the bottom of this.
BigBooper
Member
I guess that comes down to how much people trust random people on the internet who urge others to yolo their savings. There's no reason to think one event will be the same as another.
Incidentally, look at the starting price of Volkswagen in 2008 compared to the starting price of GameStop before this big push. People were tossing their money into a wishing well with this.
Buggy Loop
Gold Member
Imagine, a market that cannot sell or buy shorts for 2 days enforced by NYSE, and yet here we are. The biggest short attack maybe in history. No politicians speak a word about this illegal obvious attack, not even AOC.
The world just witnessed the most corrupt side of finance, how is that going to help in the future if traders are just crushed to ground when the other team is doing illegal obvious manipulation right in front of SEC? Who is going to trust brokers in the future? They can pull the rug right underneath you.
Bring it to 4$ at this point for all I care , I'll buy 200 more shares to offset my avg price/share
The world just witnessed the most corrupt side of finance, how is that going to help in the future if traders are just crushed to ground when the other team is doing illegal obvious manipulation right in front of SEC? Who is going to trust brokers in the future? They can pull the rug right underneath you.
Bring it to 4$ at this point for all I care , I'll buy 200 more shares to offset my avg price/share
A.Romero
Member
The analysis were done on percentages, not absolute values. Also, GME has (had?) more shorts than VW.
The math makes sense. Nobody expected the system pushing back in the way they did. As far as I know is unprecedented.
I keep asking: if everything is BS/a pump and dump or just an illusion, why everything that happened last week, yesterday and today happened? Don't you guy thinks is poor form to show your hand for nothing?
Fuz
Banned
This is exactly what the market is about.
BigBooper
Member
That's what I'm saying... Volkswagon jumped like 10x. GME jumped like 10X. It would have been more if not for the corruption, sure. I hope it blasts off for the people still holding. Not looking much like it will to me.
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mango drank
Member
Tesseract
Banned
Komatsu
Member
Liquidated my positions once price reached 290 - so in the end I left with a couple hundred more than what I came in but that's it.
People forget this one big, huge, differentiating factor in the 2008 VW squeeze - institutional investors, such as the huge automakers retirement funds, simply refusing to sell. Retail can't really pull something to that effect for that long. Still, from 4 bucks in July'20 to 400 earlier this week... Not bad, not bad at all.
People forget this one big, huge, differentiating factor in the 2008 VW squeeze - institutional investors, such as the huge automakers retirement funds, simply refusing to sell. Retail can't really pull something to that effect for that long. Still, from 4 bucks in July'20 to 400 earlier this week... Not bad, not bad at all.
Buggy Loop
Gold Member
Buggy Loop
Gold Member
Better laugh than cry about it.
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longdi
Banned
its over. dead inside.
seems it's true the big boys have years to study and mitigate and exploit what happened to vw and this is the endgame we got with gme
guns kill apes
apes back jungle
apes go hungry
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Rockmaninoff
Neo Member
I hope we (the individual investors) don't get screwed over with whatever regulations come out of this, but I guess that's inevitable. We always get screwed over
A.Romero
Member
Yes, that sounds right. It could have gone by already.
Buggy Loop
Gold Member
Stock Research, Quotes, Performance, and other information by Fidelity Investments
Research the latest stock pricing and performance as well as investment ideas using Fidelity’s screener tools
eresearch.fidelity.com
It's a ratio of 2.73 buy vs sell for Fidelity. WeBull has more volume on buy side, but close to 50/50. Can't know for the other brokers as i ain't spending my night searching all around but yea.. peculiar day result for a stock that still has that kind of ratio of order.
Finra has data that today's volume was 53% percent short, Finra does not track everyone but they track the big ones.
There's also this one that corraborates Finra.
Naked Short Report, Nasdaq and NYSE Naked Short Positions, Short Selling Interest
Naked Short Report - track short selling interest on NASDAQ and NYSE STOCKS, check daily short interest, naked short data and short squeeze stock perfomance
nakedshortreport.com
You can't be covering shorts (i.e. their old position) if over 50% of all shares sold in the past 5 days are sold short. I'll leave that here.
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A.Romero
Member
The theory is that they are doubling down on shorts hoping people jump out? Cause it's working.
Buggy Loop
Gold Member
Of course they are hoping people jump out.
And you know what? Because this thing is probably a freaking mess made by the shorts since for a long time now, GameStop is in the highest companies trading in NYSE with fails to deliver shares (counterfeit shares), it's probably really ugly. They'll put on the way down and they'll make 800$ calls on the way up (huge amounts of them).
Omnipunctual Godot
Gold Member
I found it ironic that they were meming 300 when all those guys held the line and died.
D
Deleted member 17706
Unconfirmed Member
Seeing it stabilize mostly over $100 today makes me think this saga very much isn't going to be over for a while yet.
A.Romero
Member
I think so too. DFV also posted something on twitter after a while so the hype went up again.
Buggy Loop
Gold Member
GameStop Appoints Chief Technology Officer | Gamestop Corp.
There's also legit good moves on GameStop's part. If they play their cards right, they have the potential to be a worldwide digital game store.
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Cyberpunkd
Member
What are you going to regulate? Short selling? Wall street will rebel. Short squeeze? Cannot do it without banning short selling.
A.Romero
Member
GameStop Appoints Chief Technology Officer | Gamestop Corp.
news.gamestop.com
There's also legit good moves on GameStop's part. If they play their cards right, they have the potential to be a worldwide digital game store.
Yes but until that starts happening GME is overvalued and only around 90 because of all the hype.
I remember the times when hating gamestop was part of gaming culture but as a foreigner I've always wanted to have a retailer specialized in games. Amazon filled that void somewhet.
I'd be open to purchase from Gamestop online. Whenever I travel to the US I make sure I visit at least one store and take a look at used games.
GhostOfTsu
Banned
So it seems like Keith Gill (DFV) is being investigated. He probably used privileged info from his work at a big firm to create this "movement" against Wall Street. The whole little guy David vs. GOLIATH narrative falls apart completely now.
He should just cash out his millions and go dark. The angry mob is coming and it won't be pretty.
He should just cash out his millions and go dark. The angry mob is coming and it won't be pretty.
S
SLoWMoTIoN
Unconfirmed Member
What did we learn?
longdi
Banned
i am queuing for 10 shares at $12. gotta average down
Buggy Loop
Gold Member
Posting on reddit is business activity?
They'll go after him, but cmon, that a "financial wellness education director", with access to Finra (data that you can pretty much get anyway?) is the plot for a mass planned movement, is fucking ridiculous.
Customer: "Sir, what is your advice for my financial well..."
DFV: "Diamond hands
!"
The guy was laughed at for nearly a year at WSB.
Is Mike Burry then conducting "business activity" any time he tweets?
Cheering for the take down of the average citizen is simply ugly. If his youtube videos are monetized, i guess he should have declared that, but really?
Pretty much all obligations/laws are lagging when it comes to anything online, so he's probably ok.
They'll go after him, but cmon, that a "financial wellness education director", with access to Finra (data that you can pretty much get anyway?) is the plot for a mass planned movement, is fucking ridiculous.
Customer: "Sir, what is your advice for my financial well..."
DFV: "Diamond hands
!"The guy was laughed at for nearly a year at WSB.
Is Mike Burry then conducting "business activity" any time he tweets?
Cheering for the take down of the average citizen is simply ugly. If his youtube videos are monetized, i guess he should have declared that, but really?
Pretty much all obligations/laws are lagging when it comes to anything online, so he's probably ok.
Buggy Loop
Gold Member
Good read, even if you're out of position, it's a fascinating read on short practices, documented by SEC.
tradesmithdaily.com
The Drop in GameStop Short Interest Could be Real — Or Deceptive Market Manipulation - TradeSmith Daily
Over the past few days, the level of hedge fund short interest in GameStop fell sharply. Or did it? On the evening of Monday, Feb. 1, Bloomberg reported that “GameStop Short Interest Plunges in Sign Traders Are Covering.” Two separate research firms, IHS Markit and S3 Partners, reported the...
tradesmithdaily.com
UnravelKatharsis
Member
Good read, even if you're out of position, it's a fascinating read on short practices, documented by SEC.
The Drop in GameStop Short Interest Could be Real — Or Deceptive Market Manipulation - TradeSmith Daily
Over the past few days, the level of hedge fund short interest in GameStop fell sharply. Or did it? On the evening of Monday, Feb. 1, Bloomberg reported that “GameStop Short Interest Plunges in Sign Traders Are Covering.” Two separate research firms, IHS Markit and S3 Partners, reported the...
We already know they'll use every dirty trick in the book so it wouldn't surprise me.
Wish the sec would come in and force them to close their short positions on gamestop. Just get it over with.
Thirty7ven
Banned
Shit is rigged as fuck, this just exposed it further.
The worst part is seeing all the envious motherfuckers happy at this. Scum of the earth, ants.
(I didn't put money FYI)
D.Final
Banned
The problem of the financial situationGood read, even if you're out of position, it's a fascinating read on short practices, documented by SEC.
The Drop in GameStop Short Interest Could be Real — Or Deceptive Market Manipulation - TradeSmith Daily
Over the past few days, the level of hedge fund short interest in GameStop fell sharply. Or did it? On the evening of Monday, Feb. 1, Bloomberg reported that “GameStop Short Interest Plunges in Sign Traders Are Covering.” Two separate research firms, IHS Markit and S3 Partners, reported the...
LisaMariaMartin
Banned
GhostOfTsu
Banned
Not sure what was "rigged".
Robinhood (and other apps) just ran out of money. What else were they going to do with thousands buying a worthless stock at 400$+? People were already losing enough money with this shitshow. The limit really saved tons of people from going down even further. Imagine the mess.
And of course, Financial institutions and highly qualified individuals with MBAs and years of education and experience (DFV included) have access to more knowledge and tools.
You really think that retail investors (random people on the street and Reddit) should be able to take the same risks after watching a couple of videos on YouTube? How naive. The same rules should not apply to them.
The price keeps dropping and yet people on WSB are still buying and HODLING. Those people are lost. Cultists.
Rockmaninoff
Neo Member
My biggest fear is that they do something completely bullshit and out of left field like limiting the individual investor to a certain dollar amount every day i.e. we're looking out for the little guy, so we don't want them to get suckered into investments they cannot afford...they would paint WSB as somehow evil and manipulated the market
I don't think that's going to happen, but I don't know if I'd be surprised if it did
Raven117
Member
Don't exactly know what you mean here, but the answer is yes, they should. You are couching it as risk, but what you are really doing is gatekeeping access to markets. The markets BY FAR the biggest generator of wealth. The rich can keep getting rich and playing the game, but others can't because...well...we know what is good for you, can I get a refill on 18 year old scotch?
So yeah, you let them go for it with whatever a broker feels comfortable doing.
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a multicultural team of v
Member
They definitely wouldn't do that, institutional investors and market makers love retail order flow and would not want to cut it off.
I'd imagine nothing will really come from any of this because there is no punishment regulators could come up with that is worse than how someone who bought in at $350 last Friday feels right now.
Buggy Loop
Gold Member
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