GME, Hedge Funds, Citadel and Reddit

[Foxx]

13 minutes ago, DC Tom said:

 

Really?  I love me a good short squeeze, ever since I saw Andrea Electronics in '93 go from $50 to $300 to $80 to $200 in a single day.

 

I'll never play one - that's like juggling honey badgers during an earthquake.  But they're so much fun to watch.  

 

Or at least they were, until the victim class decided to ally themselves with &#%$ing hedge fund managers against reddit.    2021's certainly turning out to be no less insane than 2020, so far.

Toilet paper rolls are now nothing but the cardboard centers. 

 

When you exhaust your coffer's, prospects are bound to get worse before they get better. At the very least, 2021 is going to be interesting.

[Nouseforaname]

1 minute ago, Ann said:

I think the craziest party is TD Amerirade restricting buying and "refunded" trades made on Tuesday.

1) who are they to say what you can/cannot trade?
2) erm were they the broker?
3) was their fund shorting these?

 

 

Pretty sure that the restrictions can be lifted by a phone call from an investor.  

[Foxx]

2 minutes ago, Ann said:

I think the craziest party is TD Amerirade restricting buying and "refunded" trades made on Tuesday.

1) who are they to say what you can/cannot trade?
2) erm were they the broker?
3) was their fund shorting these?

 

It's a tug of war now. Will retail respond and will then institutional lower the boom? Institutions shutting out Joe and Betty Six-Pack sure is a recipe for financial strife.

[GG1]

5 minutes ago, Meazza said:

 

Exactly, and it will be a huge bag full of shit.

 

 

 

Was brought up before

[Ann]

High Short Interest Stocks

https://twitter.com/MarketWatch/status/1354555936421998600
 

 

[Ann]

5 minutes ago, Meazza said:

 

Pretty sure that the restrictions can be lifted by a phone call from an investor.  

Maybe. However, you gonna stay on the line (unless they are like Fidelity and Schwab and give you a faster line at $1M in assets with them)?
 

[Foxx]

In just over a minute, the nut of it all.

https://twitter.com/ggreenwald/status/1354556321681563649

 

 

The entire clip.

https://www.youtube.com/watch?v=9ToOGrUQ7ME

 

 

[GG1]

4 minutes ago, DC Tom said:

 

And you'd have to be an idiot to trade GME on margin, anyway...not when it can lose 50% or more in minutes.  So...trade with cash.  I did just that today, in Nokia and AMC, with no restrictions.

 

The flipside idiot of doing naked short sells and then bragging about it.

[Wacka]

I don't know sh*t about economics, but I would say welcome to the Biden economy.

[Foxx]

2 minutes ago, DC Tom said:

And people are sympathetic to the hedge fund managers

They are so because of the controlled narrative spewed by the squawk box. It will be interesting to see if the internet is going to break that narrative.

[GG1]

3 minutes ago, DC Tom said:

 

The guys on reddit already sold, for the most part, to the hedge funds.  The funds are the ones forced to buy at $300 and left holding the bag.  

 

It's why they're all screaming for their pet politicians to "Save us from the evil amateurs on reddit!  How DARE the proletariat masses buy low and sell high when we're short!  Don't they know who we are?"

 

And people are sympathetic to the hedge fund managers.  What is this, opposite world?

 

I'm not sure about that.  If the hedgies are the ones who bought the shares to meet margin calls, the "loaned" shares would have been returned and with no more demand for the shares the prices would have collapsed.  I'm with Meazza on this one, most of the holdings are still with the retail guys and they probably don't understand the really bad financial position that GME is in.   

 

The short-selling in GME from last year was a pretty good bet that it would go bankrupt within a year.  BTW, that risk is still high.

 

 

[The_Dude]

I do NOT understand finance, investing, and the strategies that go with the dollars and cents. That said, GameStop or Blockbuster 2.0? I wouldn’t invest a damn thing in GameStop, NOT NEVER. I don’t believe games on disc will even be a thing for much longer. GameStop will not be able to keep up with technology, that’s my take. 

[Foxx]

5 minutes ago, DC Tom said:

 

That, and because they have the attention span of mayflies.  Just one week ago, these same people calling for protecting hedge fund managers were calling most of them traitors for being rich, ergo Trump supporters.

Sad but true. You just knew they were going to find a way to blame this on Trump and/or his Nazi supporters.

[GG1]

Just now, The_Dude said:

I do NOT understand finance, investing, and the strategies that go with the dollars and cents. That said, GameStop or Blockbuster 2.0? I wouldn’t invest a damn thing in GameStop, NOT NEVER. I don’t believe games on disc will even be a thing for much longer. GameStop will not be able to keep up with technology, that’s my take. 

 

Believe it or not, you just described 90% of GME's problems.  Sales are declining and they have a pile of debt and leases that they can't repay.    The stock is essentially worthless, but it's fun to watch redditors inflict some pain on shortsellers.

[Foxx]

With the intuitional response, the question is becoming is GME the match that lights the flame that ignites the black hole which swallows the universe?

[Foxx]

 

https://twitter.com/Cernovich/status/1354567632473575425

 

https://twitter.com/Cernovich/status/1354567939698040832

 

 

 

https://twitter.com/maxkeiser/status/1354568187082395648

 

[Nouseforaname]

25 minutes ago, GG1 said:

 

I'm not sure about that.  If the hedgies are the ones who bought the shares to meet margin calls, the "loaned" shares would have been returned and with no more demand for the shares the prices would have collapsed.  I'm with Meazza on this one, most of the holdings are still with the retail guys and they probably don't understand the really bad financial position that GME is in.   

 

The short-selling in GME from last year was a pretty good bet that it would go bankrupt within a year.  BTW, that risk is still high.

 

 

 

Exactly.  Once the rally started any institutional investor would have quickly closed out their positions before they get swamped.

 

At the end, you'll have some redditors with 1000 shares of gamestop that they paid 300+ selling for close to nothing.

[Ann]

36 minutes ago, DC Tom said:

 

And people are sympathetic to the hedge fund managers.  What is this, opposite world?

Real people? Or talking heads? Because what I've been reading the last few days has been both sides of the peasant-political aisle coming together to say, "Good. &#%$ 'em"

 

[Ann]

20 minutes ago, Foxx said:

 

https://twitter.com/Cernovich/status/1354567632473575425

 

https://twitter.com/Cernovich/status/1354567939698040832

 

 

 

https://twitter.com/maxkeiser/status/1354568187082395648

 

Pretty much what I have been reading for days.  The only people squealing at the moment are the talking-heads and the "elites." 

Nasdaq CEO even suggesting a halt to trading is incredible. Simply incredible.




 

[Dubs]

two of my favorite meme!  NPCs and Stonks!