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Re: Gamestop?
Posted: Wed Feb 03, 2021 10:06 am
by Campitor
Elon Musk questions Robinhood CEO about his company's actions concerning GME:
https://www.youtube.com/watch?v=aicDIMtVld8
Re: Gamestop?
Posted: Wed Feb 03, 2021 1:37 pm
by suomalainen
suomalainen wrote: ↑Sat Jan 30, 2021 9:28 am
But, if you shut down both sides, then you're locking your existing customers into their trades by fiat (rather than by "only" preventing them from selling to new RobinHood schmucks) which ALSO doesn't look good, so my guess is that someone made the decision at RobinHood that cutting off buys but not sells would be the lesser of two evils to allow RH to manage their clearing house risk and regulatory requirements while also doing the least damage to their customers.
Campitor wrote: ↑Wed Feb 03, 2021 10:06 am
Elon Musk questions Robinhood CEO about his company's actions concerning GME:
https://www.youtube.com/watch?v=aicDIMtVld8
12:57 - 13:23 "But we did operational processes to make sure that customers that had positions could sell their open positions because obviously restricting someone -- we got a lot of questions about 'ok, if you had to restrict buying, why didn't you also restrict selling?' And the fact of the matter is that people get really pissed off if they're holding stock and they want to sell it and they can't, right? So, I mean, that's categorically worse, so."
Nailed it.
Re: Gamestop?
Posted: Thu Feb 04, 2021 11:06 am
by SavingWithBabies
We talked about how the short sellers might not go public announcing their shorts after this GME episode but here is another tactic -- go public but not actual short:
https://hindenburgresearch.com/clover/
Conclusion: Do Short Sellers Play A Role In A Healthy Market?
Despite nearly 4 months of due diligence we performed and financed for this report, we have no position in Clover.
Why? Because while short selling is always high risk, these are unprecedented times; many people are angry and right now we believe it is important to demonstrate the role short sellers play in a healthy, functioning market.
Usually, the gripe with short sellers is the business model (i.e.: making money when a stock goes down). We are taking that off the table for this one report so the investing public can more clearly see the work for what it is; deep-dive investigative research.
Critical, adversarial research is needed because Wall Street is a finely tuned machine, built to sell securities to the public, regardless of quality. ...
Re: Gamestop?
Posted: Fri Feb 05, 2021 1:01 pm
by jacob
Yesterday, GME had almost come back to its pre-bubble price in the $low 40-handle.
However, it popped about 40% after RH reinstated buys today. I guess this is not over yet ...
Re: Gamestop?
Posted: Fri Feb 05, 2021 1:53 pm
by white belt
Watching all of this unfold, I do wonder why we couldn't see the exact same speculative mania again with GME? All it takes is the price to drop down like it has and for shorts to pile on to their positions again to have an exact replay. Maybe the hedge fund GME shorts learned their lesson, but I'm not so sure. WSB still has 8.6 million followers.
Edit: Data today shows that GME short interest is around 50% of float.
Re: Gamestop?
Posted: Fri Feb 05, 2021 2:04 pm
by Bankai
The shorts that piled in at 300-400-480, they're taking profits. Not sure why this stock would be that attractive to shorts anymore at these levels, precisely because of what's happened.
Re: Gamestop?
Posted: Fri Feb 05, 2021 2:06 pm
by white belt
@Bankai
Right but what started this whole fiasco was how GME was heavily shorted at even pre-bubble levels.
Re: Gamestop?
Posted: Fri Feb 05, 2021 2:13 pm
by Bankai
Yeah, but those guys have probably learnt their lesson by now (risk management!) while the ones that piled in at the top are now taking profits (they realised 80% or so of possible gain already and risk to reward doesn't look good anymore). And new shorts are probably quite hesitant and quite rightly so - what happened once can happen again. There's plenty of fish in the sea - why go after the one that ate a sea mine?
Re: Gamestop?
Posted: Fri Feb 05, 2021 4:39 pm
by giskard
Bankai wrote: ↑Fri Feb 05, 2021 2:13 pm
Yeah, but those guys have probably learnt their lesson by now (risk management!) while the ones that piled in at the top are now taking profits (they realised 80% or so of possible gain already and risk to reward doesn't look good anymore). And new shorts are probably quite hesitant and quite rightly so - what happened once can happen again. There's plenty of fish in the sea - why go after the one that ate a sea mine?
Short interest is only 49% of float today according to Bloomberg. So yeah... Still a ton of people short but definitely a whole lot less.
Re: Gamestop?
Posted: Wed Feb 24, 2021 8:31 pm
by Der Leiermann
GameStop just doubled to USD 90+. This phenomenon has a lot more longevity than I thought.
Re: Gamestop?
Posted: Thu Feb 25, 2021 12:26 pm
by ertyu
These idiots shorted it again
What I hope doesn't happen is they blame this all on retail and hurt some regular shmo like roaring kitty
I predict it doesn't make a higher high than last time, might sell some weeklies 350c
Re: Gamestop?
Posted: Mon Aug 08, 2022 10:09 pm
by white belt
Re: Gamestop?
Posted: Mon Aug 08, 2022 11:01 pm
by candide
Oh, there is so much dumb money that still has to be flushed out of this system.
That and the labor numbers, 100 point hike here we come.
Re: Gamestop?
Posted: Tue Aug 09, 2022 1:13 am
by ertyu
candide wrote: ↑Mon Aug 08, 2022 11:01 pm
Oh, there is so much dumb money that still has to be flushed out of this system.
That and the labor numbers, 100 point hike here we come.
Nah. It will be 75. Friendly bet
Re: Gamestop?
Posted: Tue Aug 09, 2022 6:55 am
by jacob
In other news, AMC (another gamestonk) is issuing a special dividend in the form of preferred shares with the ticker symbol---you can't make this up---APE. This will effectively dilute the outstanding shares. However, as the company retains some of these APEs it will be possible to sell them later instead of using debt funding.
Re: Gamestop?
Posted: Tue Aug 09, 2022 10:51 am
by candide
ertyu wrote: ↑Tue Aug 09, 2022 1:13 am
Nah. It will be 75. Friendly bet
I was more joking in a jocular fashion, so as long as this bet has no stakes, we can consider it both friendly and "on."
Still, the talk was that inflation had peaked, so it looked like we might be done with a rising interest rate environment. I'm not the largest Fed watcher, but I think I would have be surprised that 75 was a consensus two weeks ago.