Gamestonk!

WeBull have allowed trading to restart on Gamestop, the price is rising ... FAST!
 
postman said:
So it looks like gamestonk has settled down to a stable price $232 ish.
I'm guessing the big boys have put their thinking caps on and have worked out a way to stabilise the price, probably just by buying put options which means the brokers dont need to hedge their exposure to the WSB call option freaks (I am one of them so I use the term advisedly).
Now its a waiting game, who will crack first. On the one hand you have fund managers that have taken $billion hits and are borrowing stock they dont have at a rate of interest (unknown). And on the other hand you have 4.9 million members who hate those fund managers with a passion you cannot believe and are writing things like.

If I can hold at -$10MM then you can hold too. (hes showing a $10m loss on the DAY!)​


Dear hedge fund managers, CNBC, and the like, Guess what I did yesterday? Went to work then got drunk watching anime until 12am. Guess what I’ll do tomorrow if I loose all these gains? Not a goddamn thing different 💎🙌🚀🚀🚀
It's not about the money, it's about sending a message. 🚀💎🙌

GME YOLO $9,000,000 AND HOLDING! ✋💎🤚 We will not let them scare us. 🚀🚀🚀🚀​

https://www.reddit.com/r/wallstreetbets/comments/l70vmz
YOLO
And if you think these guys are making this up I've been watching them show their positions increasing daily. They dont care about the money its not about that! They are the Sparta generation, they are in it for the glory. This is THE most exciting thing that has happened to them (well when your stuck in your moms basement with a computer, some ramen noodles and a box of tissues what else are you going to do with your $600 stimulus cheque). They will not sell!

Eventually this will resolve probably with a massive melt up and heavy losses on both sides, but this is amazing to watch and the whole westernised trading world is. Oh and some Singapore traders are in on it too.
Click to expand...
This gets more shady by the hour.
1. Robinhood et al stop people BUYING shares (they can still sell).
2. Two large firms sell small amounts of Gamestop shares to each other and the algo's drop the price each time.
3. Robinhood close out peoples shares (GME only) if they are on margin accounts "To mitigate the risk to their accounts" is the message given.

So Robinhood have engineered a way to force people to sell their shares at 80% discount to yesterdays closing price.
A class action lawsuit has been filed against Robinhood today, the fun has only just begun. Robinhood is done it wont survive this.
 
I don't want to work, I want to bang on my drum all day.
Rocket CUK and CCL. Pre-covid high of $49 (Jan 2020) All-time high of $71 (Jan 2018)
Get your beach balls! Fun for all. All for fun.
 
1612041844681.png
 
Atilla said:
View attachment 295462
Click to expand...

man.png

The phones have been ringing off the hook this weekend.
The big boys are calling in the favours, stamping their feet or just demanding this stops. Multiple platforms around the world are pulling the ability to BUY GameStop shares and a number of others which could prove problematic to hedge funds in the US.

This guy was called and asked to prevent people on his trading platform from buying GameStop shares.

"Hey guys - this is Dan Pipitone, Co-Founder from TradeZero. You wouldn’t believe the shit going on behind the scenes right now. 10 hedge funds have fallen, and our clearing firm emailed to block ALL trading platforms from $GME, $AMC, and the like."
https://www.reddit.com/r/IAmA/comments/l81l3g

Its time to pick a side, check if your broker is preventing YOU from participating in a free market 'for your own protection' and then chose if you want to keep your account with them. There are a few who will still let you BUY the stock you like.

Or you can just sit there do nothing and let the casino steal your money.
 
oops! stopped again said:
Had an account at ig for years but couldnt get my trade on... I opened an account at markets.com and get a trade done. Why are they still taking new gme trades but IG arent ??
Click to expand...

I expect it has much to do with size of company. The larger more established companies will likely bow to regulator compliance directives and threats from big players, whereas the smaller providers are happy to increase their business and sod the consequences.
 
oops! stopped again said:
Had an account at ig for years but couldnt get my trade on... I opened an account at markets.com and get a trade done. Why are they still taking new gme trades but IG arent ??
Click to expand...
A couple of possible reasons.
1. If IG let people buy 1,000's of shares of gamestop at $350 on margin and it goes back down to $5 IG have to stump up the money and then TRY to collect it from the people that bought in. They may not have the liquidity to do that so they restrict their risk (not yours as they would like you to believe).
2. The hedge funds that are losing $Billions (its been verified) are pressuring trading firms to stop in-duh-viduals from buying so as to limit the hedge fund losses. Thats not going to work either because Michael Burry (Big short dude) went LONG gamestop in June last year because he saw value in it and your not going to stop him buying a few million more shares and holding them.
3. The excess traffic on badly managed sites may be overloading their systems and affecting all the people on their sites. In which case those guys are screwed too because we know when the SHTF and the markets crash again (which they always do) the companies that couldnt handle this blip will not be letting you sell during the next crash.

There could be other reasons...

The hedge funds involved in this are screwed, RobinHood is screwed and any company who stops you buying shares 'For your own protection' are also going to take a hit on this.
 
counter_violent said:
I expect it has much to do with size of company. The larger more established companies will likely bow to regulator compliance directives and threats from big players, whereas the smaller providers are happy to increase their business and sod the consequences.
Click to expand...
We were replying at the same time.
 
I think the worst possible outcome from this would be the hedge funds have to sell billions in other stocks to pay off their looses from this fiasco. That then cascades into more selling from other firms and markets start to tumble.
This will not be the 'cause' of the next crash because thats been overdue for a long time, but it will be scapegoated as the cause in order to draw up more legislation to protect the hedge funds and screw over the individual investor even more.
It never ends well for the average Joe.
 
The best remedy for this situation will be to stop stimulus cheques, get people back to work, they obviously have too much time on their hands. Crypto mentality creeping into stonks won't end well. Trading isn't about All or Nothing, but today's youngsters have a totally different, lottery, casino, mentality.

Not surprising given that hard work and climbing the ladder is seen as boomer territory. I mean, who want's to be like their dad !
 
Holger Zschaepitz @Schuldensuehner
9h
The Reddit army has destroyed $3.7tn in global mkt cap this week, equal to the GDP of #Germany, as the Hedge Fund short squeeze creates contagion. Hedge Fund had to sell their long positions to fund their losses from short activities.
 
0FXTrader0 said:
Holger Zschaepitz @Schuldensuehner
9h
The Reddit army has destroyed $3.7tn in global mkt cap this week, equal to the GDP of #Germany, as the Hedge Fund short squeeze creates contagion. Hedge Fund had to sell their long positions to fund their losses from short activities.
Click to expand...

Are the fat cats facing lean times?

What a shame.

Go Reddit Army! Make them extinct.

Sooner the better.

:cool:
 

Losses on short positions in U.S. firms top $70 billion - Ortex data​


www.reuters.com

Losses on short positions in U.S. firms top $70 billion - Ortex data

Short-sellers are sitting on estimated losses of $70.87 billion from their short positions in U.S. companies so far this year, data from financial data analytics firm Ortex showed on Thursday.
www.reuters.com www.reuters.com

SEVENTY $BILLION!!!

🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

Thats what happens when you sell a stock short with 140% of its shares.
🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

So yes a few shares were sold off Friday to cover those losses and I'm thinking a few more will get sold off some time next week. Hold on to your hats.
 
postman said:

Losses on short positions in U.S. firms top $70 billion - Ortex data​


www.reuters.com

Losses on short positions in U.S. firms top $70 billion - Ortex data

Short-sellers are sitting on estimated losses of $70.87 billion from their short positions in U.S. companies so far this year, data from financial data analytics firm Ortex showed on Thursday.
www.reuters.com www.reuters.com

SEVENTY $BILLION!!!

🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

Thats what happens when you sell a stock short with 140% of its shares.
🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

So yes a few shares were sold off Friday to cover those losses and I'm thinking a few more will get sold off some time next week. Hold on to your hats.
Click to expand...

Where would they be without social media coordination facilities. That's the game changer.

Hedgies have always had the resources in the past to take out uncoordinated resistance, but not now against an army of ants.
 
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