Gamestop

[pdub]

If only he had stopped at the 35th hour.

[Deleted User 289]

facial tattoos = winner, always

Why do people choose to get tattooed places on their body that THEY can't see?

Back to GameStop. I was listening to Mark Cuban yesterday. Found it really interesting to hear a billionaire tell people not to panic - who were in the process of losing a shitload of money.
Mark loses a shitload of money, he still lives happily ever after.
SOME of these people lose a shitload, their lives are seriously fucked.

[hartjack8]

The Gamestop drama is been quite the wild ride. I think it most interesting that a stock that is not worth its value flies so high so fast. Most people have 401-k or IRA and they therefore own stocks but really have no idea. Most people are just naturally long in the market. But what if you knew that something was just overvalued. No way no how is x company worth that. Stocks do not always go up. If you believe a stock is going down you should be in short position. Now how a hedge fund thought it was smart to short a stock more that 100% is insane. But the reddit kids were probably not the cause of all the play on this stock.

https://wallstreetonparade.com/2021/02/ ... -billions/

What I find most interesting is the Robinhood situation. Robinhood sends all its trade to a market maker which is how Robinhood makes it money. Citadel is actually the market maker for 9 online trading firms. Citadel is one of the Hedge funds that bailed out Melvin Capital that was the king of short on Gamestop. All the online traders that stopped trading certain stocks were using Citadel as there market maker.


https://wallstreetonparade.com/2021/02/ ... robinhood/

Here is where things get very interesting about Citadel Advisors LLC. Its Form ADV which was filed on January 15 of this year, shows that it has just 19 clients for which it manages a total of $234,679,962,503. That’s $12.35 billion per client. So let’s get this straight: Citadel Execution Services is allowed by the SEC to pay for order flow so that it can trade against the dumb money coming in from Robinhood while another tentacle of Citadel is managing money for 19 clients who can cough up $12.35 billion each. Welcome to the most lop-sided playing field in the history of markets.

Full disclosure. I did read the wallstreetbets early and knew about the more than 100% short. I have bought options mostly call options where a stock I think is overvalued but I stayed away from all this crazy basically cause of the volitivity. Betting against a hedge fund is not in my wheel house.

[pdub]

I think people who lost money in Robinhood have a good case.

[Cascadia]

No money lost yet, still going to the moon bro!

[Walrus]

She wants to go after the millennials who are likely unemployed in their parents basement, and she doesn't want to look into the endless examples of fraud that Wall Street has been doing for years. I think it's pretty clear she is well invested in these hedge funds that were dumb enough to short the stock.

This was hilarious and I'm so glad Reddit beat them at their own game. However, it's also very likely that there were some hedge fund people that were part of the Reddit squeeze. More importantly though, this event did shine a light on the real problem in America, which is not racism, but rather, extremes in wealth inequality. It also shows just how powerful the establishment is and how they are now calling for "regulation" against the little guys.

[Deleted User 89]

wrong bored, numbnutz

[ousdahl]

I don’t think it’s fair to say racism is not a problem, especially not in the way lobster seems to wanna suggest

but yeah, inequality is a yuge issue, and is closely correlated with racism.

The biggest remedies to the problem of racism may very well be ones economic equality.

[Cascadia]

Looks like this YOLO train is back!

[pdub]

To the MOoN

[Cascadia]

Better stock up while supplies last!