Thread Rating:
  • 2 Vote(s) - 5 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Gamestop, The Piñata Of The Internet Trolls.
#1
There's more of Us and them: An example!



Quote:How GameStop found itself at the center of a groundbreaking battle between Wall Street and small investors

The video game retailer has become one of the hottest stocks this year in a tale that illustrates the changing face
of investing.

[Image: attachment.php?aid=9004]
"What the hell does 'Lol' mean?"

'The coronavirus pandemic hit GameStop hard. Like many retailers, already suffering from the shift to online sales,
the video games chain is losing money and plans to close 450 stores this year. And yet, surprisingly, GameStop
has become one the hottest stocks of the year.

The 37-year-old chain store group is now the focus of a David-and-Goliath battle between an army of small investors
and Wall Street that shows no signs of abating and has highlighted some fundamental shifts in investing.

Last April, when the company announced mass closures, GameStop’s shares (GME) could be bought for $3.25 each.
On Tuesday they soared another 92% to end the day at close to $148, pumped up again by small investors hoping to
ruin Wall Street bets that the price would crash. It’s a bet that has, so far, proved very costly for the professional financiers.

The strange saga of GameStop’s cult status can be traced back to last September, when Ryan Cohen – investor and
founder of the online pet food giant Chewy – took a 13% stake in the retailer and started lobbying for it to move more
of its business online and become a serious rival to Amazon. Cohen and two associates were added to the company’s
board in January.

The company’s share price began to soar as small investors snapped up a cheap stock using the trading app Robinhood
and other services, seizing on what they saw as an ideal buying opportunity. Wall Street saw something else – a chance to
“short” an ambitious bet against Amazon they believed was bound to fail.

Shorting a stock is risky. It involves “borrowing” a company’s shares and selling them with the intention of buying them back
cheaper when the share price falls. Many Wall Street fortunes have been made this way, but if the price doesn’t fall, the
losses can be huge.

About 71.66m GameStop shares are currently shorted – worth about $4.66bn. Year-to-date, those bets have cost investors
about $6.12bn, which includes a loss of $2.79bn on Monday. Monday’s stock gain of 145% in less than two hours, which
extends GameStop’s gains for the year to more than 300%, is the latest sign that frenetic trading by individual investors
is leading to outsize stock-market swings. On Tuesday, the party continued. When, and how, it ends is anyone’s guess.

GameStop has been the most actively traded stock by customers of Fidelity Investments in recent sessions, with buy orders
outnumbering sell orders by more than four to one. The volatility prompted the New York stock exchange to briefly halt trading
nine times.

“We broke it. We broke GME [GameStop’s stock market ticker] at open,” one Reddit user wrote on Monday after the NYSE
halted trading. Ihor Dusaniwsky, a managing director at the data analytics company S3 Partners, called the situation “unique”.
Established investors were still betting that the company’s sky-high share price would – eventually – collapse, ignoring earlier
losses “and using any stock borrows that become available to initiate new short positions in hopes of an eventual pullback
from this stratospheric stock price move,” he said.

“Much like the revolutionary war, the first line of troops goes down in a rain of musket fire but is replaced by the troops next
in line,” Dusaniwsky added. The battle has become a war of attrition between a new generation of investors and established,
more diversified players.

Investors on the WallStreetBets subreddit forum have been promoting GameStop aggressively, with many pitching it as a battle
of regular people versus hedge funds and big Wall Street firms. “This is quite the experience for my first month in the stock market.
Holding till infinity,” posted one user on the thread. Another user said: “We’re literally more powerful than the big firms right now.”

In some cases, they’ve been right, with larger investors like Citron Research taking a sharp lesson in what can happen when
“herd investors” squeeze a stock higher.

Citron’s founder, Andrew Left, called GameStop a “failing mall-based retailer” in a report earlier this month and then predicted
that the stock would plunge to $20 in a video he posted to Twitter on Thursday.
According to CNN, Left has now given up on shorting the stock, citing harassment by the stock’s backers...'
Archived Source:


Attached Files Thumbnail(s)
   
Edith Head Gives Good Wardrobe. 
#2
I kept seeing bits and pieces of this in various places. Thanks for posting the article because I was trying to figure it out and this explains it better than what I could find.

I don’t really know much about the stock market. I wonder if this could lead to rule changes where only professionals will be able to buy/sale?
#3
(01-27-2021, 04:20 PM)VioletDove Wrote: I kept seeing bits and pieces of this in various places. Thanks for posting the article because I was trying to figure it out and this explains it better than what I could find.

I don’t really know much about the stock market. I wonder if this could lead to rule changes where only professionals will be able to buy/sale?

I've often suggested a mumbling house-party from the seventies, where music is playing at a volume that
wouldn't ruin the conversation. At that party, a group of sullen 'Goth'-like youngsters stood close together
and discussed music and how the world seemed not to suit their point of view.

Enter a group of Hurray-Henrys who'd just come from a champagne-swigging ball, all resplendent in their
tuxedos and unravelled bow ties. The change the music style and these well-bred ass-heads loudly chat
about good they are as 'the beautiful people'.

The original group watch and eventually wander off into another room where they produce their style of
music and continue to chat about the subjects that interest them only.

It seems that with this Gamestop prank, the exiled group took a wander back into the party-room that
had been usurped!
minusculethumbsup

It might be a one-off, but then again...
Edith Head Gives Good Wardrobe. 
#4
SpaceShot76 covered this so I could understand it in his live stream. I'll post the link when he finishes the show. 

But, for now, I'll post this from NeonRevolt on GAB:

Quote:Can't wait for all the "disinfo beat" journo-hacks try to wrap their tiny pea-brain minds around what's happening with $GME right now, since 99% of them have never exercised a single options contract in their entire lives, and don't even know what an options contract is or how it works. They'll be reading investopedia articles and watching youtube videos on the subject until 4 AM until they can fool people into thinking they're somehow authorities on the subject. Despite, in all likelihood, having a negative net worth.

Inevitably, they'll call options "hacking the system," equate it to "economic terrorism" and blame Robinhood (call for deplatforming of certain shareholders), and freak out since they missed out on the literal millions being made by retail autists - all because they have to consistently reassure themselves that their degrees aren't written on toilet paper, from the glow of their overpriced macpads, sitting alone in their 4,000 dollar a month NYC apartments.

I mean, they're already saying this is cause of "white supremacy." They're already screeching that this should be illegal cause... the billionaires made bad bets and lost this time?

I'm gonna LMAO when some bankrupt hedgie jumps from a 35th floor window. Even AFTER getting gubmint bailouts. Meanwhile, the guy on the street tasked with bagging his body will have made five or six figures by going long.

Price discovery cuts both ways, you leaky pissholes. Sorry-not-sorry your monied masters lost this time.

#GamersRiseUp


[Image: bac81c5aaaad6f62.png]
#5
SpaceShot76 gives a great overview of this on his live stream.  This will only be up as a rerun for 2 days, so watch it now, if interested. 

Start at the 16:03 mark: 


Quote: https://dlive.tv/p/spaceshot76+TS3YVnYMR
#6
My son has been going on about this for a few days now. Unfortunately, his version was missing some important pieces of the puzzle. No fault of his, he is not an investor. 

NOW.... I understand what is going on. Wealthy people took it in the shorts because their bet fell through. So the little guys who caused the loss are now nazi's. 

Somebody should get the SEC and the FBI on this immediately. Threats to the nation.
#7
The problem here is the "professionals" are destructive crooks who bet on the failure of corporations and jerk the market around to bring about precisely that result.

This time, the "little guys" stuck it to the professionals (to tune of $91,000,000,000 I heard).  The entire investment scene seems to have been very crooked since the 1980s at least.

Yeah, the rush to declare the reddit crowd criminals is shameful.  The rich are so crooked and untouchable anymore, they parade around showing off how corrupt they are.

Cheers
[Image: 14sigsepia.jpg]

Location: The lost world, Elsewhen
#8
Not sure if this is accurate.  If it is ... hoo boy.

[Image: qj6013a293.png]

Cheers
[Image: 14sigsepia.jpg]

Location: The lost world, Elsewhen
#9
Texas Attorney General takes interest in Wall Street's response to Game Stop.

Quote:Wall Street corporations cannot limit public access to the free market, nor should they censor discussion surrounding it, particularly for their own benefit. This apparent coordination between hedge funds, trading platforms, and web servers to shut down threats to their market dominance is shockingly unprecedented and wrong.

https://www.texasattorneygeneral.gov/new...-investing

Cheers
[Image: 14sigsepia.jpg]

Location: The lost world, Elsewhen
#10
The GameStop crew are being hit with fake news, but they ain't falling for it!




Quote:GameStop investor battle moves on to silver as prices surge

'Silver prices have hit an a eight-year high after calls to buy the metal on social media sparked a trading frenzy.
It comes a week after amateur investors piled into shares in the games retailer GameStop, causing them to jump 700%.

On Monday silver rose by as much as 11% to $30 an ounce, while shares in some mining firms were up as much as 60%.
Small time traders swapping tips on Reddit are thought to be behind the trend, as they seek to drive prices up.
However, some users of the site dispute this, alleging the "Silver Squeeze" is secretly being coordinated by big Wall Street
firms...'
BBC:


Pim Tool explains:

Edith Head Gives Good Wardrobe. 
#11
Quote:Wall St Bull statue under guard after being defaced with pieces of tape.

The GameStop investor saga continues to grip Wall Street and now a total over-reaction has proven the drama
has sent billionaires mad.

[Image: attachment.php?aid=9035]

'The iconic Charging Bull statue near Wall Street had to be placed under guard after photos showed the sculpture
“vandalised” amid protests. The sculpture in New York City’s Financial District was defaced with pieces of tape saying
“hold the line” as protesters demonstrated amid the GameStop stock frenzy.

As the frenzy over the GameStop phenomenon continues to fascinate investors around the world, it appears as though
the symbol of New York’s market has been given some extra protection.
Pictures taken on Sunday revealed the bronze statue has been draped in a blue tarp.

And the New York Police Department took to Twitter to assure anyone concerned about the beast’s safety that its Counter
Terrorism squad was on the case.
Seriously.

It came after pictures emerged on social media apparently showing the Charging Bull has been covered with stickers by
supporters of the Reddit army disrupting the stock market...'
SOURCE:

mediumfacepalm


Attached Files Thumbnail(s)
   
Edith Head Gives Good Wardrobe. 
#12
(02-02-2021, 02:16 PM)BIAD Wrote:
Quote:Wall St Bull statue under guard after being defaced with pieces of tape.

The GameStop investor saga continues to grip Wall Street and now a total over-reaction has proven the drama
has sent billionaires mad.

[Image: attachment.php?aid=9035]

'The iconic Charging Bull statue near Wall Street had to be placed under guard after photos showed the sculpture
“vandalised” amid protests. The sculpture in New York City’s Financial District was defaced with pieces of tape saying
“hold the line” as protesters demonstrated amid the GameStop stock frenzy.

As the frenzy over the GameStop phenomenon continues to fascinate investors around the world, it appears as though
the symbol of New York’s market has been given some extra protection.
Pictures taken on Sunday revealed the bronze statue has been draped in a blue tarp.

And the New York Police Department took to Twitter to assure anyone concerned about the beast’s safety that its Counter
Terrorism squad was on the case.
Seriously.

It came after pictures emerged on social media apparently showing the Charging Bull has been covered with stickers by
supporters of the Reddit army disrupting the stock market...'
SOURCE:

mediumfacepalm

Hmm...  Things don't seem to change no matter how much time passes. 

I'm reminded of the Bible story where the people were worshiping the golden calf when Moses came down off the mountain with the Ten Commandments, and now the people are basically worshiping a bull that represents their idol: Wall Street and money.
#13
(02-02-2021, 05:39 PM)Mystic Wanderer Wrote: Hmm...  Things don't seem to change no matter how much time passes. 

I'm reminded of the Bible story where the people were worshipping the golden calf when Moses came down off the mountain with the Ten Commandments, and now the people are basically worshipping a bull that represents their idol: Wall Street and money.

It is ironic that the symbol for a false idol that was deemed top oversee debauchery and earthly wants
was a golden bull. Exactly why Wall Street chases the dollar and exactly what they have parked outside
in the financial district.

Along with a metal statue of a little girl, but let's not go there.
tinyhuh
Edith Head Gives Good Wardrobe. 
#14
Just in case any of those new 'rich guys' are passing, here's some art as a Thank You!

[Image: attachment.php?aid=9040]


Attached Files Thumbnail(s)
   
Edith Head Gives Good Wardrobe. 


Forum Jump:


Users browsing this thread: 1 Guest(s)