GameStop Stock keeps going up no end in sight

sk3tch said:
Just the beginning, my friend. The squeeze has not happened. The reports of Marvin covering their shorts were BS.

120% of float, still:
https://www.marketwatch.com/investing/stock/gme

Disclaimer - I own GME shares.
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There are other funds. And I wouldn’t be surprised if folks shorted assuming an eventual drop from peak. Hell, I thought about it- stock ain’t worth 500 by any traditional vision, but I also ain’t stupid enough to take on Reddit!
 
Still going up even if you don't have options to buy.

Screenshot_20210128-085939_Bing.jpg
 
TheToE! said:
Every single person needs to be paying attention to what's going on right now. This is some 3rd world country shit right here.
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And for those who dislike BitCoin - Pay Attention! This is 1st World Big Money Manipulation from the TOP.


"Democratic Senator Elizabeth Warren to demand action from regulators."

SEC ‘Monitoring’ GameStop Frenzy as Warren Pressures Regulators​

Which investors does she and Washington want to protect? Deep Pocket ones apparently,
 
Mega6 said:
And for those who dislike BitCoin - Pay Attention! This is 1st World Big Money Manipulation from the TOP.


"Democratic Senator Elizabeth Warren to demand action from regulators."

SEC ‘Monitoring’ GameStop Frenzy as Warren Pressures Regulators​

Which investors does she and Washington want to protect? Deep Pocket ones apparently,
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A large percentage of Washington DC may be set out to protect exploitative (ie business as usual big money) Wall Street investors, but in the article you link Warren is standing against them.

"“For years, the same hedge funds, private equity firms, and wealthy investors dismayed by the GameStop trades have treated the stock market like their own personal casino while everyone else pays the price,” Warren said. “It’s long past time for the SEC and other financial regulators to wake up and do their jobs -- and with a new administration and Democrats running Congress, I intend to make sure they do.”"

Personally I am not a huge fan of Warren but she's better than the vast majority especially on this sort of thing. Its worth noting that others from Sanders to AOC have called for similar (or even more vehement) reproach of big money having a temper tantrum and they're right to do so, so there are at least some voices against this nonsense; the best of them showcase the hypocrisy and that this illustrates that business-as-usual on Wall Street is unacceptable and needs to be reined in vehemently.
 
Mega6 said:
And for those who dislike BitCoin - Pay Attention! This is 1st World Big Money Manipulation from the TOP.


"Democratic Senator Elizabeth Warren to demand action from regulators."

SEC ‘Monitoring’ GameStop Frenzy as Warren Pressures Regulators​

Which investors does she and Washington want to protect? Deep Pocket ones apparently,
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Opposite actually; read her statement, she's calling out the hedge funds for being pissed about getting beaten at their own game.

Yes, she believes in regulation - and banning a lot of the BS that the PE firms especially do (because their only goal is to extract the value from a company by effectively closing it down - putting thousands out of work, see ToysRUs and other retail lines as examples), but in this case, she's laughing at the street getting beaten by its own rules.
 
lopoetve said:
Opposite actually; read her statement, she's calling out the hedge funds for being pissed about getting beaten at their own game.

Yes, she believes in regulation - and banning a lot of the BS that the PE firms especially do (because their only goal is to extract the value from a company by effectively closing it down - putting thousands out of work, see ToysRUs and other retail lines as examples), but in this case, she's laughing at the street getting beaten by its own rules.
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I see what you mean, but I believe she is double talking and playing both sides of the fence. Why call for regulation when it's the little guy winning for once? Wether you're organized under Reddit or organized under a Hedge Fund - go ahead and short or buy. At least that's my theory.
 
Edit - I'm just editing out this post, it's all happening too quick to even be relevant by the time anybody sees it. It was just an observation of the wild swings happening right now.
 
Looks like the wallstreet stepped in and pretty much forced everyone to stop buying. It's plummeting now.
$469 to $132 in a few hours.
 
Mega6 said:
I see what you mean, but I believe she is double talking and playing both sides of the fence. Why call for regulation when it's the little guy winning for once? Wether you're organized under Reddit or organized under a Hedge Fund - go ahead and short or buy. At least that's my theory.
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Don’t disagree - but the rules have to apply the same to either. Right now, the hedge funds (PE is a different world) play by different rules than the rest of us. As seen by what just happened to the stock and the brokerages. That’s her argument, plus there need to be stricter rules for all - which for many of her points I happen to agree (she’s very anti private equity, which is a leach on society). Not all, mind you, but many. Mostly because it’s not a free market anymore- the big houses get different access and different rules.
 
Think I'll grab some popcorn for this one. Would not touch this with a ten foot pole even if my broker didn't have it locked.

[edit]
just showed low at $126. May grab an ale too.
 

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lopoetve said:
Don’t disagree - but the rules have to apply the same to either. Right now, the hedge funds (PE is a different world) play by different rules than the rest of us. As seen by what just happened to the stock and the brokerages. That’s her argument, plus there need to be stricter rules for all - which for many of her points I happen to agree (she’s very anti private equity, which is a leach on society). Not all, mind you, but many. Mostly because it’s not a free market anymore- the big houses get different access and different rules.
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It still goes to free markets, as far as rules - Hedge Funds are exempt from registering with the SEC, make periodic reports. Regulating Hedge Funds like Mutual Funds would just protect Hedge Fund Investors. Not prevent shorting - which is really a ridiculous idea. They stopped trading on GME et la several times already yesterday. What Warren or anyone means by "regulation" really has to be put forth and examined closely.
 
Mega6 said:
It still goes to free markets, as far as rules - Hedge Funds are exempt from registering with the SEC, make periodic reports. Regulating Hedge Funds like Mutual Funds would just protect Hedge Fund Investors. Not prevent shorting - which is really a ridiculous idea. They stopped trading on GME et la several times already yesterday. What Warren or anyone means by "regulation" really has to be put forth and examined closely.
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Don't you know you have to pass bills to see what's in them these days?
 
ChadD said:
haha good make the shorties pay I say.

Its probably time we get rid of the system that lets billionaires bet on business failures. In such a broken system perhaps this is the best way to spit in its eye.

Seriously perhaps this gives the next people employing business trying to make it work and loosing ground a little breathing room... before the old money employee no one funds swoop in to bet on their corpse. I hope this gives them pause. Hey at any time a mob of redit investors may drive the stock up. It has always been obvious to the vultures that betting against a gamestop days before they tap out is quick money... perhaps when the next game stop rolls around the vultures will just circle and never swoop in to get bite back. lol Who knows might give some other company the few months they need to figure it out. (probably not but perhaps)
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The shorties are the balance for the bulls. If they got rid of shorties, trading altogether would either be even higher risk (letting bulls run unchecked), or almost no risk but also little reward (a stocks only value would be the dividend return, and shift completely away from the value increasing over time. This isn't really possible if the market is open and shares can be traded between investors).
Westwood said:
I wish I understood whatever it is that is happening. XD
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Watch the whole thing:
 
Bigbacon said:
why is borrowing stock even a thing?
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It's finance. You can borrow stuff, you can lend stuff, you can write a contract to buy something at a specific price in 6 months, you can buy a contract to be able to sell something for a specific price in 6 months. Etc. If I'm a long term investor, and you'll pay me $ to borrow my stock, and you have collateral to prove you'll pay me back, and you'll cover any dividends (including a premium for difference in tax treatment), why wouldn't I let you borrow it and take the money? Yes, maybe you'll distort the price in the short term, but whatevs, I'm a long term investor.

Lots of index funds have a stock lending program and use the proceeds to cover the costs of managing the fund, reducing the fees charged to the holders.
 
Mega6 said:
Ameritrade and Schwab restrict trading on AMC and GameStop. Big Money protecting themselves on Wall Street.
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Big money protecting themselves or trading platform with a near 0 when not 0 transaction fee protecting themselves from unexpected volume/usage ? A bit like moviepass that stopped working just before an avenger movie release.

It look like all the restricting platform where $0 online commision one.
 
LukeTbk said:
Big money protecting themselves or trading platform with a near 0 when not 0 transaction fee protecting themselves from unexpected volume/usage ? A bit like moviepass that stopped working just before an avenger movie release.

It look like all the restricting platform where $0 online commision one.
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I dont know what this means but I can say by stopping trades helps the hedge funds by not allowing buys on the stock and effectively putting a stop to the short squeeze.
 
toast0 said:
It's finance. You can borrow stuff, you can lend stuff, you can write a contract to buy something at a specific price in 6 months, you can buy a contract to be able to sell something for a specific price in 6 months. Etc. If I'm a long term investor, and you'll pay me $ to borrow my stock, and you have collateral to prove you'll pay me back, and you'll cover any dividends (including a premium for difference in tax treatment), why wouldn't I let you borrow it and take the money? Yes, maybe you'll distort the price in the short term, but whatevs, I'm a long term investor.
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I think one point you're forgetting is you shouldn't be able lend more than you have, which is the case here with 120% of the available stock being "borrowed" which doesn't make it a borrowed thing, it makes it selling something you do not have, which it boggles my mind why this is even allowed.
 
sfsuphysics said:
I think one point you're forgetting is you shouldn't be able lend more than you have, which is the case here with 120% of the available stock being "borrowed" which doesn't make it a borrowed thing, it makes it selling something you do not have, which it boggles my mind why this is even allowed.
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You can't just eliminate buying stock on margin just because you don't like it. Credit is at the heart of this nation's (and almost all other) financial market and everything would cease to function without it. Don't make an example of stocks because it's everywhere from you wallet to the federal deficit.
 
sfsuphysics said:
I think one point you're forgetting is you shouldn't be able lend more than you have, which is the case here with 120% of the available stock being "borrowed" which doesn't make it a borrowed thing, it makes it selling something you do not have, which it boggles my mind why this is even allowed.
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Buying what you don't have is practically the definition of what margin is.

Wall Street has become a convoluted mess, that even the smartest people in the world only have a brief idea of what's going on. And it's purposely designed that way.
 
Nytegard said:
Buying what you don't have is practically the definition of what margin is.

Wall Street has become a convoluted mess, that even the smartest people in the world only have a brief idea of what's going on. And it's purposely designed that way.
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Just because you don't understand everything about wall st doesn't mean it's all bad. It just means you are not smart enough to take advantage of all the ins and outs. Not necessarily required to make money, but it helps. Buy low and Sell high STILL WORKS if you have vision. It's only as complicated as you make it.
 
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Mega6 said:
I dont know what this means but I can say by stopping trades helps the hedge funds by not allowing buys on the stock and effectively putting a stop to the short squeeze.
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Yes, but it feel like it would help a company that offer free transaction to their customer but have to pay for them, to block them, it does not require any other motivation for them to do this than to want to stop to bleed of their own money.

If normal fee transaction platform do not block them, we will have our answer I think.
 
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