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I mean just looking at the trade volumes it seems pretty clear that Robinhood and other retail brokers killed it as opposed to it playing out naturally.
The WSB plan would have worked just fine according to the rules of the game, their mistake was not realizing that the rules can change at pretty much anytime.
I don't even think it's over yet. The volumes are STILL way down.
Edit: So that was a fucking lie
The WSB plan would have worked just fine according to the rules of the game, their mistake was not realizing that the rules can change at pretty much anytime.
This is the funniest part to me. Like, WSB has the numbers advantage in just random people willing to play for memes, but that's got nothing on being able to take Robinhood's CEO out to lunch and telling them to shut down trading.
Wall Street's a big ol' club, and WSB wasn't part of it.
The proffered justification is that Robinhood is on the hook to have a certain percentages of the value of the users investments off to the side in a big bucket separate from user money, and when millions of new users sign up to buy a meme stock that is growing unboundedly, having that much money in the other bucket became problematic.
You bought your last stonk, kid. Sorry you got mixed up in this scene. From where your posting it must seem like an 18 Dogecoin run of bad luck. Truth is...gme was rigged from the start
just playing devil's advocate here, but isn't it possible they've closed their troublesome shorts last week and any high short-interest is from opening new shorts in the $300+ range?
Volume wasn't high enough to support that.
https://www.nasdaq.com/market-activity/stocks/gme/historical
They may have gotten out from under some of those shorts during the big dips, such as when trading was halted by RH and others on Thursday and the price went down to 132, but they were still bleeding out of their eyes to make that happen if they bought all their shorts back when the price was under $20 a share.
Your own link has historical volume average <10 million daily except for the days where le epic redditors were buying like crazy (after the shorts were made).
What the fuck are you talking about.
$GME was shorted to the tune of 150+%, so the shorts being covered at that price would have to involve a daily volume of 150+% of $GME's marketcap, which didn't happen.
Civility said my piece for me. I may be wrong about it, though, as the link has updated to reflect today's volume, and that is a good deal higher.
However, much of that volume is actually more short shares. As much as 55%. Shorts can't be covered by other shorts, it has to be covered by a long. If retailers have been hoovering up a substantial portion of GME and holding it long, then there just aren't enough longs to go around.
https://ns.reddit.com/r/wallstreetbets/comments/lbavu0/the_ratio_of_short_volume_to_total_volume/
The above post goes into some more detail about it.
Imagine coping this hard.
The volume isn't low, it's fucking high, stop reading WSB for DD.
The hedge funds have been doing weird and probably illegal shit
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No.
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Even if they were, what the fuck do you think is gonna happen? The answer? Nothing.
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House always wins and anyone who thought anything else was on pure unfiltered :cope:
Lol billionaire Mark Cuban is literally in the comments doing an AMA telling them to hold the stock this is so funny
Well, to be fair most of these price movements are hedge funds (on both sides of the trade I might add)
That’s right. Ladder exists but in otc/pink sheets. There were certainly strategic attacks at certain prices though
I can't even derive schadenfreude from this. As annoying as the redditors are, them getting a leg over some hedge fund ghouls would've been infinitely funnier and preferrable.
I don't own any gme but it literally has to go back up once the short sellers start covering their positions. The only way it doesn't is if it tanks all the way to ~35 dollars or so
they most definitely did not lol
the stock is still shorted over 100%
it would have to go down to ~35 dollars which I don't think it will go that low, and once they start covering it will go back up.
Curious as to where you're getting that number from? My understanding is that the hedge funds will only have to cover if whoever they're borrowing shares from forces them to cover.
You sure they're not shorting again? Because I honestly think they're shorting again. Not the same people necessarily but I'm pretty sure someone is shorting again.
Shit's over either way. You don't know when they're forced to cover and they don't have to do it all at once either.
I think you're just misinformed on this one comrade.
Edit: OH HO HO HO, WELL IF IT ISN'T A PLATE OF CROW. YUM YUM GONNA EAT IT.
Terrific examples of loss porn right now. Waiting for the options losses posting
tried to go in for some tears and instead saw them coming all over Mark Cuban
Is there reason to believe that the hedge funds have covered their shorts?
The S3 is an op then. Chair said they use a different method than normal to calculate, it uses shorted shares(you know the naked ones too) instead of actual shares. Using the math from last week, its still over 120%.
The S3 guy apparently had a twitter thread or something where he tried to explain that 120% was wrong, the real number was 55%, because you have to count each borrowed share as two shares to make sure the number doesn’t go over 100%.
Its all stupid finance bro bullshit. The main takeaway is that every calculation of shares shorted as percent of float uses a different definition of "float," specifically so that their numbers can’t be easily compared.
It's sad for the investors who were like "I can afford my sister's surgery now!" But for every one of those there 10,000... maybe 100K people who are like "Hold! You ret***! I love my fellow ret**** and autists." So like. Fuck most of those people. Not all. I hope that guy got his sister the medical care needed, if that was in deed real.
It honestly started to make me sick going there to see what was happening.
I can't believe they've put up actual fucking billboard ads, like this is definitely an effective way to get your message out
EDIT: I searched "billboard" on wsb and there's heaps of them, drivers will definitely understand what the fuck they mean
Second picture from the links you posted looks like somewhere overseas, maybe the Middle East. Wonder if these guys are taking out highway billboards all over the world?
Still not sure if I see this as a populist revolt or not. I guess in some sense, since there seems some orchestration between Robin Hood day traders who understood that this vulture hedge fund Melvin Capital was going heavy and hard to short a stock (Gamestock) into oblivion.
But if people are talking about , and not accepting MSM narrative that the
stockWall St casino gambling market is some divine metric of how the whole economy is doing (instead of the fraudulent and rigged the whole thing is), how it's really a farce of a playground for the super wealthy or those connected to some insider information/trading, then I suppose it's just one more shot across the bow of Crony Capitalism.Though you have to wonder how many brainwashed Get Rich Quick, American Dream™ just wish they could "play the market" too and make some fast, easy money, instead of just understanding that in a socialist system one's desires for that kind of boondoggle could be greatly diminished by having those desperate feelings mitigated by simply being assured of having a social safety net that doesn't let people fall through the cracks (i.e. Healthcare for all, nationalizing the energy grid, making internet access free to everyone, college tuition free, etc).
The constant conditioning of our countrymen that the ultimate goal in life is to get rich, be envied for material goods and buy a big house is a deep propaganda tactic that keeps this whole shit system afloat, in thrall to the altar of Capitalism. It's a two-pronged punch, along with relentlessly maligning soshulism/gommunism for decade after decade after decade since the late 1800's (or even before), that keeps us divided and conquered. The theory of American Exceptionalism, taught from the moment we arrive in kindergarten and are taught, before anything else, to repeat the words, "I pledge allegiance...," wraps it all up nicely in the kind of fascist authoritarianism that prevails.
It's still trading at $100. If you bought anytime before 2 weeks ago you're still making profit.
They did legit get ratfucked. News articles about how WSB was moving onto silver, trying to get the non-reddit bandwagon jumpers and boomers to move onto something that would benefit wall street.
I understand being annoyed at it, it is basically a fucking meme for rich kids. But if the plan has failed, I don't feel too good about it. I guess at least a maybe a few more people will realise how fixed this shit is.
As I predicted, this whole ordeal showed a ton of people that they can't win with this. Now of course, we gotta stamp out the crony capitalism bs.
