Ika posted:

But its fairly likely that at least 18 of those 19 billion just went to other hedge funds / banks, and you bet they are gonna profit on the way down.

spunkshui posted:

Its paper losses while they are squeezed.

They could just pay the lenders until they bankrupt.

But if that stock stays at 300, they cant live.

quote:

"Check my post history, I called this before the first breakout and I’m calling it again. AMC is not only next, it has already started. I expressed the market volume fundamentals the first time, but now I’ll explain why we NEED AMC to be next:

It is justified. I love the loving movies and I reject bankruptcy motivated short sellers who will kill the employment of thousands of people. I reject them, I reject them, I reject them.

GME NEEDS to be more than an anomaly. If it is our one and only gently caress you to the system then it will be forgotten about. If and WHEN it happens to AMC, this becomes a public strategy.

The principle behind GME is also an attack on inequality through a rejection of our current manipulative financial system. Short selling is not just 75% bullshit, during a pandemic it’s 150% blood-seeking. Does anyone really believe AMC would be seeking bankruptcy if not for the pandemic? Hedge fund fucks have been warned — we are COMING for you.

ONE 🚀 is NOT enough. We have many 🦍 and they have mouths to feed. Institutional investors jump from one concept to another; why the gently caress can’t we? Why the gently caress shouldn’t we? Trick question: these are our rights as investors.

Do people not love the movies? I bought into GME for the cause and because GameStop is a business I support. Frankly, I support AMC even more. I continued being an AMC A-Plus Member through the pandemic because I wanted to support the business. Incidentally, I also hold Apple, Disney, Microsoft, etc. Why is it only okay for me to support and rally for the stock market’s top holdings?

Robinhood and other trading platforms restricted multiple stocks, AMC among them. My personal earnings have been manipulated as have yours. And if trading platforms and hedge funds are allowed to do this, it will forever disincentive public participation in the markets. I have a Bullseye on EVERY stock that was restricted — however, AMC had the most momentum and activity outside of GME, it is continuing to rally, and I will continue to breathe life into it. This level of market manipulation CANNOT be allowed. And, to be clear, this also means I effectively have an ETF at the moment of just stocks that I was told I couldn’t buy — because why? — gently caress that level of bullshit, that’s why.

I am tired of money printing and bailouts being used as the only strategy for saving our economy. PRIVATE CAPITAL should also be SOCIAL CAPITAL. The amount of wealth inequality is loving insane right now. Never in the history of humanity has the concentration of total assets been held by so few hands. The public can’t have a single approach for generating wealth via a transfer back down the chain? Seriously, not even one?

Look, I have so many more reasons. AMC is due to come back when the pandemic resolves, I love getting handjobs at the movies, I enjoy eating popcorn and watching movies with crowds in front of a big loving screen and

I LIKE THIS STOCK. WE LIKE THIS STOCK. 🚀🍿🔥

This is a French Revolution of the financial industry, and it is over loving due.

LONG AMC!!! DIAMOND HANDS 💎 🙌🖕
"

Philthy posted:

I always thought it was because no where could ever let you "cash" out so you were essentially stuck buying:

maniacripper posted:

And as long as DeepFuckingValue holds and post his picture every day, most of these lunatics will hold. Is it enough? Who knows, they do not give a single gently caress though. It's like the MAGA effect except it might actually do some good in the long run because now Wallstreet regulation is going to be on everyone mind after they lose their 1000 buckaroos.

Klyith posted:

at this point there are US exchanges (eg coinbase) that you can cash out and be certain you're actually gonna get money, rather than itchy & scratchy bux or a bank transfer from the Republic of Arstotzka that's gonna bounce after 4 days


however, the reputable US-based exchange also reports your cashing out to the IRS. and Biden's treasury sec looks like she's also gonna make them follow other banking rules (high transaction reporting, anti-laundering regulations) so who knows how long they'll be around.

naem posted:

spunkshui posted:

Its paper losses while they are squeezed.

They could just pay the lenders until they bankrupt.

But if that stock stays at 300, they cant live.

Bright Bart posted:

I don't even understand how mass shorting is profitable. Okay you sold for 10 and hoping the price drops to 4. But now you got to buy and you'd think sellers who know about the short will price to reflect this. Obviously this isn't the case but it's what I would expect.

Ika posted:

Naw I mean the initial hedge lost 19 billion or whatever, but since most of the shares were owned by other hedges and billionaires, most of that money went to them.

Bright Bart posted:

I don't even understand how mass shorting is profitable. Okay you sold for 10 and hoping the price drops to 4. But now you got to buy and you'd think sellers who know about the short will price to reflect this. Obviously this isn't the case but it's what I would expect.

spunkshui posted:

When you massively short a stock you borrow a poo poo ton of shares and then sell them all which floods the market.

It would be like if I went to a trading card company and ask them to borrow 1 million foil Charizard’s and I just threw them all on eBay immediately.

The value of Charizard drops from $100 to $10, it crashes the trading economy, and I can just snatch up the cheapest Charizard‘s on the open market and return them to the card company.

Except right now Charizard cost $300 instead of the $100 I sold them all for because Charizard is on every single news channel.

Kilbas posted:

Eh... I’m still not getting it, can you use a funko pop analogy instead?

Meme Poker Party posted:

Imagine four pops on the edge of a cliff.


Investment works the same way.

spunkshui posted:

I don’t know what you’re talking about.

The article is a leak showing that they still have the short position meaning they’re hosed because if they had to actually close the position it would cost them $19 billion which is absolutely not how much they got when they shorted those stocks.

Edit: they sold a bunch of stock without owning it, now buying it all makes them bankrupt instead of profit. They have been kicking the can according to the leak.

spunkshui posted:

https://www.google.com/amp/s/market...21-1-1030020684

“Hedge funds and other institutions shorting GameStop stock were sitting on losses of about $19 billion as of Friday, new data shared exclusively with Insider indicates.

Figures from the data provider Ortex suggested that investors who had bet that the share price would fall had been massively squeezed, with losses topping $10 billion on Wednesday alone, when GameStop soared 135%”

https://v.redd.it/l1pa6yuvdhe61

lol

GABA ghoul posted:

Lol, imagine if all that money was donated to the DSA and used to actually gently caress with billionaires. There could have been something good happening ... lol

Jesustheastronaut! posted:

I don't know poo poo about any of this, but it sounds like in order for this to happen, there had to be at least 12 billion dollars worth of stocks in the wild before all this started? Is that true? Is gamestop even worth that much to begin with? I don't really understand how investors are losing so much money when it seems like gamestop isn't even worth that much to begin with. And if it is, does that mean there are just multiple billions of dollars in stocks tied up in every rundown franchise like red lobster and poo poo like that? How does a single bad investment into a single company crash an entire hedge fund? Did they have all have their entire portfolios in GameStop

Ika posted:

That part is clear. But the redistribution of wealth thing is only going on in minuscule amounts according to my understanding, because most of the money went to other fat cats.

In the past:
Hedge A sold X million shares @ 20 dollars, delivery today.
Hedge B/C/D/E, DFV and others bought X million shares @ 25 dollars.


Today:
Hedge A now needs to buy X million shares @ 500 dollars, losing 19 billion
Hedge B/C/D/E + others sell shares @ 500 dollars are up 18 billion, and no longer own any shares

Hedge F put in shorts/puts @ 500 dollars.

In the future
shorts/puts @ 500 dollars expire, making more $$$

GABA ghoul posted:

Lol, imagine if all that money was donated to the DSA and used to actually gently caress with billionaires. There could have been something good happening ... lol

Philthy posted:

I always thought it was because no where could ever let you "cash" out so you were essentially stuck buying:

1. a hit on someone
2. illegal firearms
3. access to child abuse sites
4. illegal drugs
5. stolen credit card data

and thats about all you can "buy"

Fur20 posted:

yea the trick is to never actually own a crypto coin, which is hard to cash; you only want to own stakes in positions on them. which i'm not sure whether that's less risky or more risky than holding the coin itself, but certainly more convenient in terms of offloading the worthless piece of poo poo onto an idiot

GABA ghoul posted:

Lol, imagine if all that money was donated to the DSA and used to actually gently caress with billionaires. There could have been something good happening ... lol

Arms_Akimbo posted:

You're still investing in an instrument that facilitates the sales of child pornography and murder for hire, but if you're cool with that, cool, I guess?

Ika posted:

That part is clear. But the redistribution of wealth thing is only going on in minuscule amounts according to my understanding, because most of the money went to other fat cats.

In the past:
Hedge A sold X million shares @ 20 dollars, delivery today.
Hedge B/C/D/E, DFV and others bought those X million shares @ 20 dollars, delivery today.


Today:
Hedge A now needs to buy X million shares @ 500 dollars, losing 19 billion
Hedge B/C/D/E are up 18 billion, and others including DFV are up one billion.

Ewan posted:

Pretty sure people have been using USD to pay for the same poo poo since it has existed so guess you should divest from that too

spunkshui posted:

The stock going up while gamestop is doomed is probably why it got shorted so goddamn hard by the algorithms.

GABA ghoul posted:

Lol, imagine if all that money was donated to the DSA and used to actually gently caress with billionaires. There could have been something good happening ... lol

ben shapino posted:

source your quotes

Ewan posted:

Pretty sure people have been using USD to pay for the same poo poo since it has existed so guess you should divest from that too

Klyith posted:

Shorting more stock than exists and losing billions of dollars are merely stupid, not criminal. And losing a poo poo-ton of other rich people's money is a thing many hedge funds have done before now. As long as they haven't lied about anything the rich investors pretty much just have to suck it up.

FilthyImp posted:

Oof. Doge is trending back to its sub penny value and the coiners are taking it rough. Apparently a pump and dump?

Dear Watson posted:

$doge paid off. I am glad I got off that wild ride when I did because now I can buy even more $doge when it settles down.

The future is $doge

Bright Bart posted:

I don't even understand how mass shorting is profitable. Okay you sold for 10 and hoping the price drops to 4. But now you got to buy and you'd think sellers who know about the short will price to reflect this. Obviously this isn't the case but it's what I would expect.

Ewan posted:

Nowadays you can trade in bitcoins on the normal stock trading platforms; so if you're treating it as a gamble/investment rather than a currency you want to spend none of these problems apply.