OT Gamestop: Wall Street + Animal House?

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wizenheimer

wizenheimer

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a really interesting story about Gamestop, short sellers, and Reddit millennials going at each other, with the big boys taking it in the shorts, so to speak, and some little guys getting rich

a little bit complex but if you're interested in the stock market worth the read from a couple of different angles:

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kind of an overview:

https://crooksandliars.com/2021/01/reddit-drives-gamestop-surge-and-traders

a couple of more detailed stories worth the read (again, only if you're interested in the market, the ridiculous excesses of capitalism, revenge, and a mad magazine version of the new world order):

https://www.vice.com/en/article/qjp...605&utm_medium=social&utm_source=VICE_twitter

and:

https://www.vox.com/the-goods/22249458/gamestop-stock-wallstreetbets-reddit-citron

and:

https://slate.com/technology/2021/01/gamestop-reddit-wallstreetbets-gme.html

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I always wish I could have gotten in on runs like this but the truth is I'd always be late to the party and wouldn't have the balls to ride the roller coaster anyawy
 
Basically, young people figured out how to really "occupy wall street." Cant beat 'em, join 'em, then beat 'em.
 
donkiez said:
Basically, young people figured out how to really "occupy wall street." Cant beat 'em, join 'em, then beat 'em.
Click to expand...

The autistic shut-ins of reddit with that COVID stimmy have done more to fundamentally change the street than any of the occupy wall streeters in just a few short weeks!
 
Wall Street Elites Destroyed, Beaten By Redditors At Their Own Rigged Game.

 
upload_2021-1-27_18-53-11.png

Reddit group that drove GameStop shares 1,700% higher and cost Wall Street short-sellers billions goes PRIVATE and messaging platform Discord BANS their server for 'hate speech' in the wake of SEC and White House 'monitoring'
  • GameStop shares rose another 130% on Wednesday amid a Reddit buying frenzy
  • The struggling company runs a chain of video game stores across the country
  • Group WallStreetBets is leading charge to inflate stock and punish hedge funds
  • GameStop stock is up 1,700% since January 1 in run that hurt short sellers
  • Hedge funds Citron and Melvin Capital likely lost billions as the shares rose
  • But GameStop's three largest shareholders have gained $3B in recent moves
  • They include board member Ryan Cohen, whose shares are up more than $2B
  • GameStop CEO Geroge Sherman is up $500M and investor Donald Foss $800M
  • TD Ameritrade instituted unprecedented restrictions on GameStop stock
  • Wall Street investors express alarm and say they have never seen anything like it
  • When the bubble collapses all of the shareholder gains could be wiped out
  • Biden's press secretary says that his team is 'monitoring the situation'
https://www.dailymail.co.uk/news/ar...holders-gotten-3BILLION-richer-two-weeks.html
 
SlyPokerDog said:
View attachment 36392

Reddit group that drove GameStop shares 1,700% higher and cost Wall Street short-sellers billions goes PRIVATE and messaging platform Discord BANS their server for 'hate speech' in the wake of SEC and White House 'monitoring'
  • GameStop shares rose another 130% on Wednesday amid a Reddit buying frenzy
  • The struggling company runs a chain of video game stores across the country
  • Group WallStreetBets is leading charge to inflate stock and punish hedge funds
  • GameStop stock is up 1,700% since January 1 in run that hurt short sellers
  • Hedge funds Citron and Melvin Capital likely lost billions as the shares rose
  • But GameStop's three largest shareholders have gained $3B in recent moves
  • They include board member Ryan Cohen, whose shares are up more than $2B
  • GameStop CEO Geroge Sherman is up $500M and investor Donald Foss $800M
  • TD Ameritrade instituted unprecedented restrictions on GameStop stock
  • Wall Street investors express alarm and say they have never seen anything like it
  • When the bubble collapses all of the shareholder gains could be wiped out
  • Biden's press secretary says that his team is 'monitoring the situation'
https://www.dailymail.co.uk/news/ar...holders-gotten-3BILLION-richer-two-weeks.html
Click to expand...

:Sly:
 
SlyPokerDog said:
View attachment 36392

Reddit group that drove GameStop shares 1,700% higher and cost Wall Street short-sellers billions goes PRIVATE and messaging platform Discord BANS their server for 'hate speech' in the wake of SEC and White House 'monitoring'
  • GameStop shares rose another 130% on Wednesday amid a Reddit buying frenzy
  • The struggling company runs a chain of video game stores across the country
  • Group WallStreetBets is leading charge to inflate stock and punish hedge funds
  • GameStop stock is up 1,700% since January 1 in run that hurt short sellers
  • Hedge funds Citron and Melvin Capital likely lost billions as the shares rose
  • But GameStop's three largest shareholders have gained $3B in recent moves
  • They include board member Ryan Cohen, whose shares are up more than $2B
  • GameStop CEO Geroge Sherman is up $500M and investor Donald Foss $800M
  • TD Ameritrade instituted unprecedented restrictions on GameStop stock
  • Wall Street investors express alarm and say they have never seen anything like it
  • When the bubble collapses all of the shareholder gains could be wiped out
  • Biden's press secretary says that his team is 'monitoring the situation'
https://www.dailymail.co.uk/news/ar...holders-gotten-3BILLION-richer-two-weeks.html
Click to expand...

...some nefarious shit going on here where WSB redditors getting blasted by hedgefund hackers posting tons of faked hate speech to get them shutdown. But these guys are like a massive hydra now so onto new subreddits like wallstreetbets2 and wallstreetbetsnew
 
HAAK72 said:
...some nefarious shit going on here where WSB redditors getting blasted by hedgefund hackers posting tons of faked hate speech to get them shutdown. But these guys are like a massive hydra now so onto new subreddits like wallstreetbets2 and wallstreetbetsnew
Click to expand...

WSB is back open.
 
3v22vnw8rxd61.png
 
SlyPokerDog said:
View attachment 36392

Reddit group that drove GameStop shares 1,700% higher and cost Wall Street short-sellers billions goes PRIVATE and messaging platform Discord BANS their server for 'hate speech' in the wake of SEC and White House 'monitoring'
Click to expand...


Wow..

In a message titled, 'Where do we go from here and who is going to step up to help us?', moderators accused Discord of 'destroying' their Wallstreetbets community, but failed to address why the forum had gone private on Reddit.

'We're suffering from success and our Discord was the first casualty. You know as well as I do that if you gather 250k people in one spot someone is going to say something that makes you look bad,' the statement read.

'That room was golden and the people that run it are awesome. We blocked all bad words with a bot, which should be enough, but apparently if someone can say a bad word with weird unicode icelandic characters and someone can screenshot it you don't get to hang out with your friends anymore.

Discord did us dirty and I am not impressed with them destroying our community instead of stepping in with the wrench we may have needed to fix things, especially after we got over 1,000 server boosts. That is pretty unethical.'
 
HailBlazers said:

Wow..

In a message titled, 'Where do we go from here and who is going to step up to help us?', moderators accused Discord of 'destroying' their Wallstreetbets community, but failed to address why the forum had gone private on Reddit.

'We're suffering from success and our Discord was the first casualty. You know as well as I do that if you gather 250k people in one spot someone is going to say something that makes you look bad,' the statement read.

'That room was golden and the people that run it are awesome. We blocked all bad words with a bot, which should be enough, but apparently if someone can say a bad word with weird unicode icelandic characters and someone can screenshot it you don't get to hang out with your friends anymore.

Discord did us dirty and I am not impressed with them destroying our community instead of stepping in with the wrench we may have needed to fix things, especially after we got over 1,000 server boosts. That is pretty unethical.'
Click to expand...

I'm sure money was paid to shut down that discord.

Just like I'll ban anyone here for $50 or a share of GME.
 
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It's concerning to me that the 1% are trying to spin this against the working man.

Why the hell is it okay for them to come down on normal people for legally buying stocks, and how is it legal? I saw that the trading app stopped trading of those stocks. To me, that's WAY more concerning than what these people are trying to spin.
 
Natebishop3 said:
It's concerning to me that the 1% are trying to spin this against the working man.

Why the hell is it okay for them to come down on normal people for legally buying stocks, and how is it legal? I saw that the trading app stopped trading of those stocks. To me, that's WAY more concerning than what these people are trying to spin.
Click to expand...

The counter attack against reddit has been well coordinated. The financial shows are all shit talking, systems are not filling buys only sales, and the reddit wsb was shut down last night. It's a dog fight at the moment. I believe a big portion of the shorts are due next week and they are fighting for their lives.
 
donkiez said:
I believe a big portion of the shorts are due next week and they are fighting for their lives.
Click to expand...

Good. Fuck them. Any time something like this happens, the façade drops and we get to see who really controls this country.

Kind of like when the Blazers go up 1-0 on the Lakers and suddenly the whistles come out.
 
So ties between Robinhood and big hedge fund linvestors are starting to surface. Robinhood was a darling company in wsb and people have been anxiously waiting to meme it on ipo. Looks like it might get anti meme status, this is going go kill any ipo plans they had, wsb will crush them for revenge if the go public. There are already plans of a mass migration out of Robinhood
 
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