Lizard23
Senior Member
- Joined
- Dec 30, 2009
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sadly, i sold yesterday at 109Dude, I would have sold at $150. What the fuck are you waiting for? SELL NOW! Take the money, and run I say.
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sadly, i sold yesterday at 109Dude, I would have sold at $150. What the fuck are you waiting for? SELL NOW! Take the money, and run I say.
Beta as phucksadly, i sold yesterday at 109
I haven't been following the story, but did a bunch of people on reddit just eviscerate a hedge fund or two?
GME still has a short float of 140% though, so yea, someone is going to have to buy the stocks at 1000. But retail investors won't. Melvin has already taken a 3bn hit and has been forced to liquidate other positions to fund their GME shorts.
Maybe if greedy hedge funds would stop selling stocks that doesn't exist people would like them more.
I never said retail investors would have to buy back the short float. But if a retail buyer buys at $950 thinking the stock is going to the moon and all those retail investors and other traders who bought at $200 on the way to the moon, the stock is going to quickly collapse back down, and those guys buying at the top will take a huge loss (I obviously don't think many institutional investors will be buying at $900+). That's the case with any stock, if you buy at the peak, you can wind up losing a lot.The short interest was like 140% of the float. Doesn't matter how shitty the company is, that's reckless.
What does it matter?
I'd say the hedge fund that lost its ass and had to get bailed out.Shorting more than the outstanding shares is reckless for whom?
These aren't buy and hold investors, these are traders. They don't care about Gamestop's business any more than Wall Street generally cares about the Main Street economy.Short selling is an amazing and important tool for the efficacy of financial markets. They provide a valuable signal. If more people are short selling than are willing to buy, that's probably a pretty good indication that there is no market confidence in that business.
With it getting so much media attention now, I think that's imminent.the bubble must pop soon.
Well I agree the law isn't very magical but its still rules..
Shorting more than the outstanding shares is reckless for whom? There's no magic rule that you can't short sell more than the existing shares. If the company goes belly up, the short sellers can buy back for free. Short selling is an amazing and important tool for the efficacy of financial markets. They provide a valuable signal. If more people are short selling than are willing to buy, that's probably a pretty good indication that there is no market confidence in that business.
Edit:
As to why it matters is only academic, but the media is pushing a narrative that retail investors via social media are buying up and pushing the stock higher. I don't believe it. I want the facts. I suspect some institutional investors are the actual ones buying it up and making a huge profit. I don't care if institutional investors are the ones making money, but I just don't buy the narrative.
The bolded is confusing bad outcomes with bad decision making. If I gave you a chance to take the following bet:I'd say the hedge fund that lost its ass and had to get bailed out.
These aren't buy and hold investors, these are traders. They don't care about Gamestop's business any more than Wall Street generally cares about the Main Street economy.
I'll try to find some empathy for the short sellers.
As far as I'm aware, there is no law that prevents that. I'm not an expert, so I'm happy to be proven wrong.Well I agree the law isn't very magical but its still rules.
I don't even know what you are going on about here.The bolded is confusing bad outcomes with bad decision making. If I gave you a chance to take the following bet:
Pick the Powerball numbers, if you don't match everything (i.e. don't hit the jackpot) you win $6. If you do match everything, you owe me $300. You would probably take that deal.
FTFYIt doesn't matter if traders care about the underlying business or not. They're trading stock based on if they think the value of thecompanyshare price will go up or down based on the information they have.
ROFL okay. The growing divergence between Wall St. and Main St. is well documented. But hey, you do you bro.This bullshit populist "wall st doesn't care about main street" you spout is some weird MAGA/occupy Wall St hybrid.
Don't you know the hedge funds are selling to cover their shorts....gotta get the money from the winners to pay for the losers.Meanwhile the broader market is taking a dump. But who cares about non-stonks?
They aren’t. But they are buying calls, which have to be secured by 100 stocks per contract. And having a lot of people doing that can engender these numbers.Damn that's fucking stupid. Shorting a company losing money in a dying industry isn't reckless.
Also, I will continue to say prove that retail investors are buying millions of shares.