Author Topic: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks  (Read 27209 times)

frugalnacho

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #350 on: February 05, 2021, 10:27:53 AM »
Isn't there some legal construct to owning shares?  If I buy up 80% of the shares of a public company, can they just decide to close up shop, liquidate all of their physical capital, then run off and not pay me?  Aren't I legally entitled to 80% of that?

KarefulKactus15

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #351 on: February 05, 2021, 10:34:58 AM »
I also don't want to point fingers, but it seems pointless to try and explain risks of real estate investment to someone who hasn't invested in it.

Wow, someone lives in a fantasy.

A gentle pointing out that your tone comes off as fairly hostile.

And I guess you, random stranger, are a part time UN peacemaker peacefully strolling by.

(to All): there gonna be no fight. I repeat, there gonna be no fight.

A mature person would have said something like 'apologies, I didn't intend hostility, thanks for letting me know.'  Instead, you confirmed the hostility was intentional.  Thanks for letting everyone know.

As an older female, I can give you a few pointers on what you should or should not say to a gorgeous successful woman with a killer body that you know for sure would have never noticed you. I'm not a big supporter of negativity, but hey, I've noticed you, a random stranger. Would take me a few months to remember your nickname, but it's a start, keep trying.

And I'm also willing to call your 'immature' - a compliment, a lame one, but you tried. Just next time, try to think of something positive to say, like "you sound much younger than your actual age."

Well, don't thank me. I like helping young random strangers like you shape into confident ones that gorgeous women like me would notice. I do it for free, because I'm caring like that.

Your response is laughable. "Gorgeous" , "older female" , "killer body".      Based on your replies I'm not sure "young random strangers" would be very interested TBH.

Glenstache

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #352 on: February 05, 2021, 10:37:14 AM »
I also don't want to point fingers, but it seems pointless to try and explain risks of real estate investment to someone who hasn't invested in it.

Wow, someone lives in a fantasy.

A gentle pointing out that your tone comes off as fairly hostile.

And I guess you, random stranger, are a part time UN peacemaker peacefully strolling by.

(to All): there gonna be no fight. I repeat, there gonna be no fight.

A mature person would have said something like 'apologies, I didn't intend hostility, thanks for letting me know.'  Instead, you confirmed the hostility was intentional.  Thanks for letting everyone know.

As an older female, I can give you a few pointers on what you should or should not say to a gorgeous successful woman with a killer body that you know for sure would have never noticed you. I'm not a big supporter of negativity, but hey, I've noticed you, a random stranger. Would take me a few months to remember your nickname, but it's a start, keep trying.

And I'm also willing to call your 'immature' - a compliment, a lame one, but you tried. Just next time, try to think of something positive to say, like "you sound much younger than your actual age."

Well, don't thank me. I like helping young random strangers like you shape into confident ones that gorgeous women like me would notice. I do it for free, because I'm caring like that.

Your response is laughable. "Gorgeous" , "older female" , "killer body".      Based on your replies I'm not sure "young random strangers" would be very interested TBH.
Can we please return to discussing bets on hedges (which may or may not be really owned) instead of if each others hedges are attractive enough?

MustacheAndaHalf

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #353 on: February 05, 2021, 11:02:00 AM »
As a meta-discussion on the arguing, maybe threads on GameStop and WallStreetBets are destined to end in infighting.

But since I'm the official stick in the mud in these parts, I guess it's my task to mention this:
"2. Attack an argument, not a person."
https://forum.mrmoneymustache.com/forum-information-faqs/forum-rules/

GuitarStv

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #354 on: February 05, 2021, 11:12:02 AM »
In the 'no true scotsman' fallacy, someone changes their position based upon new information.

"All Trump supporters hate black people"
"But what about black Trump supporters"
"Well then, all true Trump supporters hate black people"

That sort of thing.


I think I've been pretty consistent with my reasoning . . . which is that when the rights of ownership are radically restricted and changed, it is no longer really ownership.  That might well be a logical fallacy, but if so it's not the Scotsman one.

Ah, interesting. I can see your point, and you may be right. I was referring to taking the conversation step back a little bit wherein I (perhaps mistakenly) saw this particular fallacy. Example below:

Point: Stocks are devoid of value because they are a mental fabrication.
Counterpoint: Owning part of a company is still valuable, despite them not having any direct materialism.

I'm not sure this point accurately represents my view.  As a stock owner, clearly I see some value in having them!  Imaginary unicorns have value as long as someone is willing to trade me something tangible for one.  That's the whole greater fool theory.

I was trying to argue that the nature of stocks being a mental fabrication means that they're only of value as long as people keep thinking they're of value.  They have no intrinsic worth.  A stock is a piece of paper with no real connection to the company written on the stock.  There's no real reason for the piece of paper to go up or down in value because of the fortunes of the company (and indeed, we often see stock prices rise or fall based on stuff that has nothing to do with the company - like the gamestop example).


Point: You can't partially own something because you can't do anything you want with it.
Counterpoint: You can own 50% of a couch, despite not being able to paint it any color that you want.
Point: That's not REAL ownership. (No True Scottsman would call that ownership).
Counterpoint: Ok, well whatever it is that we're calling it, owning stock exists in the same way that owning part of a couch does.

But I agree that I wouldn't submit this as a textbook fallacy because you have been consistent. It just seems that getting caught up in what constitutes REAL ownership is missing the intent of the discussion. I would be happy to use whatever term you want to substitute for "partial ownership"

I think that the problem occurs with division.

If you own 50% of a couch, that's something the mind can understand.  It exists somewhere, you can sit on it occasionally, cool.  Half a couch is a real thing.  A quarter couch is still a real thing.  But what are your rights related to the couch if you own .000001% of the couch?  Do you still get to sit on it?  'Ownership' loses any real meaning at that point and we start only dealing with theoretical abstracts.

Owning a stock is typically a lot more like owning .000001% of the couch than 50%.  It's something that always struck me as a little weird.

jim555

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #355 on: February 05, 2021, 11:38:15 AM »
A stock has value, the company can be liquidated and distributed.  You have voting rights, and possibly dividends. 

GuitarStv

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #356 on: February 05, 2021, 01:00:51 PM »
A stock has value, the company can be liquidated and distributed.  You have voting rights, and possibly dividends.

Some stocks have voting rights/dividends, but certainly not all.  If a company is liquidating it's assets, it usually means that it's going out of business and shareholders are SOL.

KarefulKactus15

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #357 on: February 05, 2021, 01:28:06 PM »
A stock has value, the company can be liquidated and distributed.  You have voting rights, and possibly dividends.

Some stocks have voting rights/dividends, but certainly not all.  If a company is liquidating it's assets, it usually means that it's going out of business and shareholders are SOL.

Can confirm.   I rode briggs and stratton all the way to the bottom when it delisted at 11 cents.   Shareholders are sol.

ilsy

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #358 on: February 05, 2021, 02:03:45 PM »
Your response is laughable. "Gorgeous" , "older female" , "killer body".      Based on your replies I'm not sure "young random strangers" would be very interested TBH.

Ahhh, sorry for making you laugh. Let me ask you - another young random stranger - how would you describe your own physical appearance? And let me tell you, this is a non threatening environment, we are all friends here, no one will judge your answer and I promise I'll try not to laugh. Go with at least three descriptors.

I try to be open minded, so when I got quite a few guys in their 20s messaging me on 'Ok Cupid' (my minimal cut off was twice their age, so it's not me, it's them). Anyways, I asked my teen kids what do they think about their mom dating cougar-style. Lets say, they are very open minded too, but they said 'No.' So, no "young random strangers" for me, I guess....... till the kids are out. But don't worry, you didn't make the list since your inner thighs were sore for 3 days after a very low weight. Kinda an important area for "cougar style," if you know what I mean. Plus, you think there is only ONE muscle there- this sentence along had ruined everything for me. So sad, you had so much potential.


frugalnacho

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #359 on: February 05, 2021, 02:17:23 PM »
What the fuck does any of this have to do with gamestop?  Are we going to have a god damn gamestop bubble or what? Or was last week it? That would be a very short lived bubble. 

GuitarStv

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #360 on: February 05, 2021, 02:30:08 PM »
What the fuck does any of this have to do with gamestop?  Are we going to have a god damn gamestop bubble or what? Or was last week it? That would be a very short lived bubble. 

I want to learn how to speak to a gorgeous successful old woman with a killer body.

The gamestop thing is played out.  Go long on thighmaster!

StashingAway

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #361 on: February 05, 2021, 02:44:45 PM »
In the 'no true scotsman' fallacy, someone changes their position based upon new information.

"All Trump supporters hate black people"
"But what about black Trump supporters"
"Well then, all true Trump supporters hate black people"

That sort of thing.


I think I've been pretty consistent with my reasoning . . . which is that when the rights of ownership are radically restricted and changed, it is no longer really ownership.  That might well be a logical fallacy, but if so it's not the Scotsman one.

Ah, interesting. I can see your point, and you may be right. I was referring to taking the conversation step back a little bit wherein I (perhaps mistakenly) saw this particular fallacy. Example below:

Point: Stocks are devoid of value because they are a mental fabrication.
Counterpoint: Owning part of a company is still valuable, despite them not having any direct materialism.

I'm not sure this point accurately represents my view.  As a stock owner, clearly I see some value in having them!  Imaginary unicorns have value as long as someone is willing to trade me something tangible for one.  That's the whole greater fool theory.

I was trying to argue that the nature of stocks being a mental fabrication means that they're only of value as long as people keep thinking they're of value.  They have no intrinsic worth.  A stock is a piece of paper with no real connection to the company written on the stock.  There's no real reason for the piece of paper to go up or down in value because of the fortunes of the company (and indeed, we often see stock prices rise or fall based on stuff that has nothing to do with the company - like the gamestop example).


Point: You can't partially own something because you can't do anything you want with it.
Counterpoint: You can own 50% of a couch, despite not being able to paint it any color that you want.
Point: That's not REAL ownership. (No True Scottsman would call that ownership).
Counterpoint: Ok, well whatever it is that we're calling it, owning stock exists in the same way that owning part of a couch does.

But I agree that I wouldn't submit this as a textbook fallacy because you have been consistent. It just seems that getting caught up in what constitutes REAL ownership is missing the intent of the discussion. I would be happy to use whatever term you want to substitute for "partial ownership"

I think that the problem occurs with division.

If you own 50% of a couch, that's something the mind can understand.  It exists somewhere, you can sit on it occasionally, cool.  Half a couch is a real thing.  A quarter couch is still a real thing.  But what are your rights related to the couch if you own .000001% of the couch?  Do you still get to sit on it?  'Ownership' loses any real meaning at that point and we start only dealing with theoretical abstracts.

Owning a stock is typically a lot more like owning .000001% of the couch than 50%.  It's something that always struck me as a little weird.

Lol, funny that's kind of where I was going to go next! At what point does partial ownership go from being something tangible to something fabricated? It's an open ended question. If I have a slip of paper that says that I own 10% of a couch, what does that mean? Or 1%?

In either case, if the couch gets moldy and becomes un-sellable, does that mean that it didn't exist in the first place? Do I still own 10% of a worthless couch, even if it's in another state and has no value? If a company goes bankrupt, how similar is that? Or if it's a couch that suddenly becomes fashionable and my 10% has increased greatly. I can't use any more of the couch than I could before despite the value increasing from outside forces. If you own 10% of ten identical couches, your financial situation hasn't changed any differently than if you owned 100% of one couch. Your ability to paint couches does.

Maybe we should define ownership as something that you can legally paint! Although that would be an issue for people who own houses in HOA neighborhoods.


I personally don't think that just because the scale of a stock is so small that any of this breaks down. But that's an opinion because this is largely semantics.


jim555

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #362 on: February 05, 2021, 03:00:58 PM »
The GameStop thing was done before it got started.  There is no giant squeeze.  A bunch of idiots believing another bunch of idiots creating a mania, that's all.

trollwithamustache

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #363 on: February 05, 2021, 03:06:28 PM »
A stock has value, the company can be liquidated and distributed.  You have voting rights, and possibly dividends.

Some stocks have voting rights/dividends, but certainly not all.  If a company is liquidating it's assets, it usually means that it's going out of business and shareholders are SOL.

usually but not always,  Check out NIHD and RVRA for companies that delisted, shutdown and went into liquidation. They are paying out substantial amounts to shareholders. neither trade anymore, but NIHD traded in the low 2 dollars and a year later likely will be a total around 2.35 in liquidation distributions to shareholders. 

So they owned something.


Mr. Green

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #364 on: February 05, 2021, 04:35:47 PM »
Saw this chart on WSB tonight comparing the stock prices of GameStop and AMC over the last 5 days. Yeah that's not suspect at all!

JetBlast

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #365 on: February 05, 2021, 06:49:40 PM »
Saw this chart on WSB tonight comparing the stock prices of GameStop and AMC over the last 5 days. Yeah that's not suspect at all!

What do you suspect?

BigMoneyJim

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #366 on: February 05, 2021, 06:55:51 PM »
I suspect that the only reason any of us are even thinking about GME and AMC is because the reddit wsb story made news, 6 million new people joined wsb, and all sorts of folks jumped in with both feet on one side or the other.

Hell, I was surprised to hear GameStop was still in business. I had no idea either was publicly listed. Now I own GME & BB, the latter of which I also haven't thought about in 12 years.

Edit: If it's not clear, I'm saying the new attention to wsb and the popular stock topics at the time drove the prices similarly. Add BB to that chart and it doesn't track quite as well, but it quite definitely rhymes. But millions of millennials and zoomers are probably much more familiar with GME and AMC than BB as a company and what they heck they do these days.

I'm not 100% anti-chicanery-theory on these stocks, but neither am I in the most fervent of wsb truthers.

Edit 2: Actually, I retract that: BB follows these two more closely than I originally thought the past 5 days: Yahoo Finance chart of GME, AMC, & BB (I mean I retract that BB only rhymes instead of tracks...the rest I still agree with)
« Last Edit: February 05, 2021, 07:10:24 PM by BigMoneyJim »

MustacheAndaHalf

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #367 on: February 06, 2021, 03:20:12 AM »
Apparently retail investors were not significant in the big surge in prices a couple weeks ago.  Wall Street Bets may have driven the price up earlier, but not the week GameStop made the news.

"Data shows institutional investors as drivers of large portion of the wild price action in GameStop last week."
"GameStop was not in the 10 most-bought names by retail investors last month, according to JPMorgan."
https://www.cnbc.com/2021/02/05/gamestop-mania-may-not-have-been-the-retail-trader-rebellion-it-was-perceived-to-be-data-shows.html


BigMoneyJim - The last five days GME opened at $317 / $141 / $112 / $91 / $54.  It looks like it's headed back to it's old valuation from last year.

JohnnyZ

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #368 on: February 06, 2021, 12:35:03 PM »
Looks like the masks are coming off, they're basically admitting to the pump'n dump:
https://www.reddit.com/r/wallstreetbets/comments/ldvw8m/psa_to_newer_members_of_wsb/

And a lot of people are coming out posting their gains
https://www.reddit.com/r/wallstreetbets/comments/le17d5/i_heard_were_allowed_to_post_gme_gain_porn_now/

 I guess the party's really over.

ender

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #369 on: February 06, 2021, 01:58:39 PM »
The GameStop thing was done before it got started.  There is no giant squeeze.  A bunch of idiots believing another bunch of idiots creating a mania, that's all.

A squeeze definitely happened.

GME was trading < $20/share until mid-January 2021.

Going from ~$17.50 a share up to $300+ a share is a pretty meaningful squeeze imo.

This squeeze was pretty similar to the Volkswagen one, magnitude wise (arguably more).

The problem is, most people got in on the squeeze towards the end, not the beginning. If you bought GME at <$20/share and sold at any point in the last week or so, you made out like a bandit. If you bought at $300 though.. well, rip.

mistymoney

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #370 on: February 06, 2021, 03:25:38 PM »
Looks like the masks are coming off, they're basically admitting to the pump'n dump:
https://www.reddit.com/r/wallstreetbets/comments/ldvw8m/psa_to_newer_members_of_wsb/

And a lot of people are coming out posting their gains
https://www.reddit.com/r/wallstreetbets/comments/le17d5/i_heard_were_allowed_to_post_gme_gain_porn_now/

 I guess the party's really over.

so - what's a diamond hand suppose to mean?

HPstache

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #371 on: February 06, 2021, 03:32:25 PM »
Looks like the masks are coming off, they're basically admitting to the pump'n dump:
https://www.reddit.com/r/wallstreetbets/comments/ldvw8m/psa_to_newer_members_of_wsb/

And a lot of people are coming out posting their gains
https://www.reddit.com/r/wallstreetbets/comments/le17d5/i_heard_were_allowed_to_post_gme_gain_porn_now/

 I guess the party's really over.

so - what's a diamond hand suppose to mean?

The opposite of paper hands.

StashingAway

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #372 on: February 06, 2021, 04:25:08 PM »
Looks like the masks are coming off, they're basically admitting to the pump'n dump:
https://www.reddit.com/r/wallstreetbets/comments/ldvw8m/psa_to_newer_members_of_wsb/

And a lot of people are coming out posting their gains
https://www.reddit.com/r/wallstreetbets/comments/le17d5/i_heard_were_allowed_to_post_gme_gain_porn_now/

 I guess the party's really over.

And anonymous person on a forum who has the benefit of 20/20 hindsight and the audacity to lecture a bunch of noobs about stock market timing. Mind you, their advice isn't to not time the stock market, it's to time it their way. Hypocrite. How many times would this person have been wrong about Bitcoin? or Apple? Or Tesla? In other words, he's just as wrong as all the others. The real advice is to stay out of stock picking. THAT would have been the lesson to learn here, no to try to guess which rises are pump and dump and which aren't.

There's no meaning to "masks coming off". It's just more masks underneath. And it's not everyone taking the masks off. It's just a few shouting that they're taking their masks off. Who knows how many people they represent?

trollwithamustache

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #373 on: February 06, 2021, 07:03:15 PM »
Looks like the masks are coming off, they're basically admitting to the pump'n dump:
https://www.reddit.com/r/wallstreetbets/comments/ldvw8m/psa_to_newer_members_of_wsb/

And a lot of people are coming out posting their gains
https://www.reddit.com/r/wallstreetbets/comments/le17d5/i_heard_were_allowed_to_post_gme_gain_porn_now/

 I guess the party's really over.

And anonymous person on a forum who has the benefit of 20/20 hindsight and the audacity to lecture a bunch of noobs about stock market timing. Mind you, their advice isn't to not time the stock market, it's to time it their way. Hypocrite. How many times would this person have been wrong about Bitcoin? or Apple? Or Tesla? In other words, he's just as wrong as all the others. The real advice is to stay out of stock picking. THAT would have been the lesson to learn here, no to try to guess which rises are pump and dump and which aren't.

There's no meaning to "masks coming off". It's just more masks underneath. And it's not everyone taking the masks off. It's just a few shouting that they're taking their masks off. Who knows how many people they represent?

It was never really WSB alone anyways... tons of other hedgefunds/ HTF firms whatever you want to call them, follow momentum. They accentuated the momentum up and down.

HOWEVER, it could still be interesting if the so called diamond hands really do hold for a few more weeks/months, forcing some of the settlement issues out in the open.

mistymoney

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #374 on: February 06, 2021, 11:19:06 PM »
Looks like the masks are coming off, they're basically admitting to the pump'n dump:
https://www.reddit.com/r/wallstreetbets/comments/ldvw8m/psa_to_newer_members_of_wsb/

And a lot of people are coming out posting their gains
https://www.reddit.com/r/wallstreetbets/comments/le17d5/i_heard_were_allowed_to_post_gme_gain_porn_now/

 I guess the party's really over.

And anonymous person on a forum who has the benefit of 20/20 hindsight and the audacity to lecture a bunch of noobs about stock market timing. Mind you, their advice isn't to not time the stock market, it's to time it their way. Hypocrite. How many times would this person have been wrong about Bitcoin? or Apple? Or Tesla? In other words, he's just as wrong as all the others. The real advice is to stay out of stock picking. THAT would have been the lesson to learn here, no to try to guess which rises are pump and dump and which aren't.

There's no meaning to "masks coming off". It's just more masks underneath. And it's not everyone taking the masks off. It's just a few shouting that they're taking their masks off. Who knows how many people they represent?

I am being falsely quoted!!!

StashingAway

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #375 on: February 07, 2021, 04:56:44 AM »
Looks like the masks are coming off, they're basically admitting to the pump'n dump:
https://www.reddit.com/r/wallstreetbets/comments/ldvw8m/psa_to_newer_members_of_wsb/

And a lot of people are coming out posting their gains
https://www.reddit.com/r/wallstreetbets/comments/le17d5/i_heard_were_allowed_to_post_gme_gain_porn_now/

 I guess the party's really over.

I am being falsely quoted!!!

Lol, I cut that one apart pretty bad! I'm not even sure how I did that! Well, it's secured in writing now so it must be true that you've said it. Can't go back now

gentmach

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #376 on: February 07, 2021, 09:41:12 AM »
Looks like the masks are coming off, they're basically admitting to the pump'n dump:
https://www.reddit.com/r/wallstreetbets/comments/ldvw8m/psa_to_newer_members_of_wsb/

And a lot of people are coming out posting their gains
https://www.reddit.com/r/wallstreetbets/comments/le17d5/i_heard_were_allowed_to_post_gme_gain_porn_now/

 I guess the party's really over.

so - what's a diamond hand suppose to mean?

"Hold on for as long as possible." I know a guy that is going to hold on to GME for as long as possible.

Valley of Plenty

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #377 on: February 08, 2021, 06:15:58 PM »
What the fuck does any of this have to do with gamestop?  Are we going to have a god damn gamestop bubble or what? Or was last week it? That would be a very short lived bubble. 

I want to learn how to speak to a gorgeous successful old woman with a killer body.

The gamestop thing is played out.  Go long on thighmaster!

I second this! Clearly the GME train has reached the end of its track. All aboard the Cougar Express!

Also for what it's worth I'm a dude and my thigh adduction is currently up to 10 reps @ 170lbs. Not too shabby! Now where does one find all these gorgeous successful older women with killer bodies??? Asking for me.

EliteZags

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #378 on: February 08, 2021, 09:52:48 PM »
as long as possible


trollwithamustache

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #379 on: February 09, 2021, 08:34:28 AM »
as long as possible



wow. that should be your profile picture!

mistymoney

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #380 on: February 09, 2021, 08:54:11 AM »
so - what is the word on subreddit these days?

I see GME at 48.78 & Short Interest (% of float 01/15/21)121.91

so - still highly shorted, but lost most of it's gains. Everyone just cashed in? Lots sitting on huge losses it seems.

ChpBstrd

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #381 on: February 09, 2021, 09:26:41 AM »
so - what is the word on subreddit these days?

I see GME at 48.78 & Short Interest (% of float 01/15/21)121.91

so - still highly shorted, but lost most of it's gains. Everyone just cashed in? Lots sitting on huge losses it seems.

That’s old info, which is a problem when trying to determine whether the squeeze has been squozen.

MustacheAndaHalf

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #382 on: February 09, 2021, 09:44:34 AM »
Short percentage is only updated every couple weeks, I think.  Even if the percentage was the same, it matters at what prices those short positions were initiated.

One hedge fund claimed to have given up and covered it's short positions, which were initiated probably around $5-$10.  They lost billions, and needed additional funding to cover their losses.

Watching on Feb 1, I saw buying power run into a brick wall.  I think that brick wall was other hedge funds opening short positions.  Attempts to buy at $250 were met with sell orders around that price.  Eventually the sell orders overpowered the buy orders, and the price continues to drop.

The latest short positions are very profitable, unlike the earlier ones.

frugalnacho

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #383 on: February 09, 2021, 10:02:43 AM »
The hype is still pretty strong, but not quite as strong as before.  There seems to be a lot of people posting about how hedge funds have lost like $70B, but also a lot of people claiming that hedge funds mathematically couldn't have covered their shares.   It doesn't make any sense to me.  $70B seems way too high and above the market cap of GME even at the peak, so I'm unsure how any hedge fund could have lost more than the entire market cap by shorting the stock.  I'm also unsure of the logic thinking the squeeze is yet to happen while simultaneously believing the hedge fund was taken for $70B. I don't understand how both can be true.

One thing I keep seeing repeated over and over is that hedge funds needs to buy your share (specifically yours) in order to close their shorts, and not just any share on the market, so just hold onto them as they rocket to the moon.  It's unclear to me why the same share can't be repeatedly used to close out short positions, providing that you keep buying that share back at market price after you've used it to satisfy your short.  If I owe 10 people an apple, why couldn't I just satisfy my debt with person #1 by giving them an apple, then buying it back at an elevated market price and then using it to pay back person #2, then buying it back, etc until all my apple shorts are satisfied? 

bacchi

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #384 on: February 09, 2021, 10:07:58 AM »
The hype is still pretty strong, but not quite as strong as before.  There seems to be a lot of people posting about how hedge funds have lost like $70B, but also a lot of people claiming that hedge funds mathematically couldn't have covered their shares.   It doesn't make any sense to me.  $70B seems way too high and above the market cap of GME even at the peak, so I'm unsure how any hedge fund could have lost more than the entire market cap by shorting the stock.  I'm also unsure of the logic thinking the squeeze is yet to happen while simultaneously believing the hedge fund was taken for $70B. I don't understand how both can be true.

One thing I keep seeing repeated over and over is that hedge funds needs to buy your share (specifically yours) in order to close their shorts, and not just any share on the market, so just hold onto them as they rocket to the moon.  It's unclear to me why the same share can't be repeatedly used to close out short positions, providing that you keep buying that share back at market price after you've used it to satisfy your short.  If I owe 10 people an apple, why couldn't I just satisfy my debt with person #1 by giving them an apple, then buying it back at an elevated market price and then using it to pay back person #2, then buying it back, etc until all my apple shorts are satisfied?

It's almost as if some people on r/WSB are making shit up.

ChpBstrd

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #385 on: February 09, 2021, 10:18:21 AM »
I think hype is the only relevant metric here. Without a steady stream of new GME buyers, the squeeze cannot continue to push prices higher forever, even if some "diamond hands" really do hold forever, which I doubt. The only thing attracting more buyers was a rapidly appreciating stock price, and that is no longer true. Actually most of the WSB people have lost the majority of what they've invested, because most of them piled on 2 weeks ago.

Short interest data will be released today. It will remain above the 20% which is customarily used to define a stock at risk of short squeeze. New shorts are piling in, so I don't know if SI will be 25% or 100%, but if it exceeds expectations we could see renewed interest in engineering another squeeze, or a final collapse of GME's price.   

MustacheAndaHalf

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #386 on: February 09, 2021, 10:43:38 AM »
frugalnacho - I suspect r/WSB overestimates how many shares they control.  Trading was so intense on Jan 26-28, a multiple of the company's float (shares outside the company) traded on each of those days.  There was plenty of opportunity to close out short positions with that much volume.

ChpBstrd - I think it's much higher than 20% short interest.  Many hedge funds joined the fight, and presumably produced selling power by shorting.  Each buy order was met with a short sell order, which will be cashed in later at a profit.  It wouldn't surprise me if the number was close to 100% short interest, still.

bacchi

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #387 on: February 09, 2021, 11:20:32 AM »
ChpBstrd - I think it's much higher than 20% short interest.  Many hedge funds joined the fight, and presumably produced selling power by shorting.  Each buy order was met with a short sell order, which will be cashed in later at a profit.  It wouldn't surprise me if the number was close to 100% short interest, still.

If true, a 2nd short squeeze will be much harder. Shorts would've entered in the $200+ range, making it very tough to shake them.

mistymoney

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #388 on: February 09, 2021, 12:13:58 PM »
so - what is the word on subreddit these days?

I see GME at 48.78 & Short Interest (% of float 01/15/21)121.91

so - still highly shorted, but lost most of it's gains. Everyone just cashed in? Lots sitting on huge losses it seems.

That’s old info, which is a problem when trying to determine whether the squeeze has been squozen.

that is what tdameritrade told me seconds before I posted....where is one to find more current info?

You know - for a small time investor at td?
« Last Edit: February 09, 2021, 12:16:01 PM by mistymoney »

frugalnacho

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #389 on: February 09, 2021, 12:19:37 PM »
so - what is the word on subreddit these days?

I see GME at 48.78 & Short Interest (% of float 01/15/21)121.91

so - still highly shorted, but lost most of it's gains. Everyone just cashed in? Lots sitting on huge losses it seems.

That’s old info, which is a problem when trying to determine whether the squeeze has been squozen.

that is what tdameritrade told me seconds before I posted....where is one to find more current info?

You know - for a small time investor at td?

The info is only released periodically.  I believe it is being released tonight, so tomorrow we should have more current info. 

Or so everybody says, I have no idea what's going on.




mistymoney

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #390 on: February 09, 2021, 12:24:56 PM »
so while all this is going on - what is happening to the company and workers there?

Do they just keep moving forward with day to day operations?

also - td told me this

During the most recent quarter, 1M shares were bought, and 903K shares were sold in insider trading.

MustacheAndaHalf

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #391 on: February 09, 2021, 01:43:07 PM »
I think you mean "trading by insiders", since "insider trading" refers to illegally trading based on inside information.  The January trading volume for GME stock was 1.26 billion shares, or 18x the company's stock.  Insiders didn't have much effect.

bacchi - I agree the next attack is harder.  Last week was dramatically different from the week before.  Once the stock price is artificially elevated, and all over the news... every hedge fund knows about it.  I think there's an insurmountable pool of hedge fund money waiting to short sell against any buy orders.  Unlike the first buying attack, there's no surprise this time.

I visited WSB briefly, and saw a screen shot of someone quadrupling their money.  Combined with Tesla profits, I thought it's possible they have more money than I thought.  But the trading volume suggests something else.

Jan 8 over $100 million trading volume.  I can imagine WSB having an impact.
Jan 15 had almost $2 billion trading volume.  Now it seems questionable.
Jan 22 had $10 billion trading volume.  WSB does not have billions/day to invest!
Jan 29 about $18 billion trading volume.  $9 billion in buy orders from WSB?
Feb 5 down to about $5 billion in trades of GME stock

Looking back, WSB didn't have the money to pull this off.  If I had tracked the trading volume more carefully, I'd have questioned the assumption WSB acted alone.  They might have tens of millions, but they don't have tens of billions.

mistymoney

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #392 on: February 09, 2021, 03:49:47 PM »
I think you mean "trading by insiders", since "insider trading" refers to illegally trading based on inside information. 

well - those things are semantically identical. and I was again quoting directly out of tdamertrade....


mistymoney

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #393 on: February 09, 2021, 03:50:34 PM »
up nearly 3% post market :)

HPstache

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #394 on: February 09, 2021, 04:27:22 PM »
up nearly 3% post market :)

Not even sure that could be considered a dead cat bounce.  This is just the blood spatter from the fall...

mistymoney

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #395 on: February 09, 2021, 06:05:04 PM »
my popcorn just finished popping....I don't want to story to be over :(

MustacheAndaHalf

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #396 on: February 10, 2021, 06:47:33 AM »
I think you mean "trading by insiders", since "insider trading" refers to illegally trading based on inside information. 
well - those things are semantically identical. and I was again quoting directly out of tdamertrade....
I retract my correction - I think it has different meaning in different contexts.  Insiders can trade, but under strict rules to prevent taking unfair advantage of their information advantage.  That's what you're quoting, and I was wrong to correct that.

What I usually see is "insider trading scandal", where the news story is always about insider trading that broke the law.  To quote wikipedia, "There has long been "considerable academic debate" among business and legal scholars over whether or not insider trading should be illegal".
https://en.wikipedia.org/wiki/Insider_trading

MustacheAndaHalf

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #397 on: February 10, 2021, 07:00:55 AM »
For those cheering for more Game Stop drama, stay tuned for Friday.  When GME trade volume went from 57M to 197M, that was a Friday.  Last week the stock dropped in price every day... except Friday.

GME call options expire every Friday, which is probably the connection.  The open interest in $800 strike calls that expire Friday (2/12) is now 18k.  Normally that hints at an attack on Friday, but these calls are very cheap.  The entire 18k calls are only worth $150k right now, while last week's attack had $2 million worth.

ChpBstrd

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #398 on: February 10, 2021, 07:19:27 AM »
The thing about internet memes is they peak once and never return.

Ice bucket challenge anyone?

BigMoneyJim

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Re: Someone fill me in on what's going on with WSB subreddit and GME / BB stocks
« Reply #399 on: February 10, 2021, 07:32:06 AM »
The thing about internet memes is they peak once and never return.

Yeah, there's a cool video about that.

 

Wow, a phone plan for fifteen bucks!