Gamestop stock situation - anyone else in on this?

[KSpan]

Truly crazy stuff, just printing money right now. I've no illusions about the stock's true value once the war on hedge funds ends but sure is fun in the interim.

[d-dave]

https://gizmodo.com/reddit-s-anarchic-investors-to-hedge-funds-i-hope-the-1846135080

I was just about to post this.  One of the top comments points out of ridiculous the entirety of the stock market is and how we're all dumb for giving our money to companies to invest on our behalf.

But finding out that it's putting leverage on a billionaire makes me smile.  My hope though is for the actual employees of GameStop.  Not sure what good can come for them, but I just hope for their betterment.

[t96]

This is truly one of the strangest stock market phenomenons I've ever seen in my life. Enjoying the entertainment of following it from afar. 

[CRA]

I'm about to buy some Blockbuster stock!  Come on huddle. Let's get real crazy!!

but in all seriousness, watch how fast the government can make moves when they actually care about something. 

[Happy Panther]

I am shorting through puts hoping that the market becomes rational again but I'm not convinced it will. If it does I will make bank.

Basically a mob has said forget earnings we determine what the value of a stock is. We buy it which means people who are short will have to buy it (short squeeze) and people who have to own it because of hedges will have to buy it (gamma squeeze). So if I buy one share two other people will have to buy a share too. And if we all mobfund this it will take off.

My question is is it sustainable? It doesn't seem like it but this could represent a watershed event in how trading is done. 

I think once the mob realizes paper gains are paper gains until you sell this will crash. 

[pantherphan96]

kicking myself for not getting in earlier, bit the bullet around 300 and probably going to regret it but it feels good to put the pressure on the hedge funds. can already see them crying and reaching out to their establishment shills to shame the little guys. these fugers crashed the economy in 08/09 and got bailed out but they cant stand a little heat from retail investors and now want to change the rules so only they can get enriched by cheating the system.

[KSpan]

35 minutes ago, Happy Panther said:

I am shorting through puts hoping that the market becomes rational again but I'm not convinced it will. If it does I will make bank.

Basically a mob has said forget earnings we determine what the value of a stock is. We buy it which means people who are short will have to buy it (short squeeze) and people who have to own it because of hedges will have to buy it (gamma squeeze). So if I buy one share two other people will have to buy a share too. And if we all mobfund this it will take off.

My question is is it sustainable? It doesn't seem like it but this could represent a watershed event in how trading is done. 

I think once the mob realizes paper gains are paper gains until you sell this will crash. 

Agreed on all points. The short vs float is what makes this so interesting and could seemingly have a massive ripple as funds adjust to make sure they aren't caught in a similar situation in the future.

[pantherphan96]

if you have 25 minutes watch the full version, Chamath absolutely destroys the CNBC shill

 

[KSpan]

1 hour ago, pantherphan96 said:

if you have 25 minutes watch the full version, Chamath absolutely destroys the CNBC shill

 

I watched that... the host stammering and at a loss for words was great. 

[fitty76]

I got in, but didn't YOLO.  Made a nice $500 profit so far.  I'll keep checking on when to get out.  

[4Corners]

5 hours ago, CRA said:

I'm about to buy some Blockbuster stock!  Come on huddle. Let's get real crazy!!

but in all seriousness, watch how fast the government can make moves when they actually care about something. 

Ditto.

it’s all good, fair, and completely dictated by the free market when some 1 percenter hedge fund people and corporations are stacking the deck but when the average Joe finds away to win at the card table - OH HELL NAW we got to change the regulations and rules. USA USA USA

[4Corners]

Someone tell me what to do. I got $200-$500 to invest - do I jump in on Nokia or AMC? 

[Happy Panther]

[pantherphan96]

17 minutes ago, 4Corners said:

Someone tell me what to do. I got $200-$500 to invest - do I jump in on Nokia or AMC? 

I got a couple shares of AMC. Nokia and Blackberry are the other stocks that were being thrown around WSB