Y'all this shit is absolutely ridiculous and I'm sure it doesn't belong on this website but holy shit. If you've got a few bucks laying around, grab a share of GME and plan to sell this Friday.
Also brace for impact because this is absolutely insane what's going on right now.
Way too much to dump here. Just letting y'all know.
A bunch of funds cheated and borrowed more share of GME to short than share were available (creating phantom shares).
With the Gamma Squeeze in the options for GME, and now the short squeeze, GME has gone to the moon.
A bunch of funds are currently stuck with their dicks in their hands because if they sell out, they lose a cubic fuck-ton of money. However, since there are more shares shorted than created, because of all the funds illegally shorting it (and market makers that allowed it to be illegally shorted), some funds may go out of business causing a cascading effect on the market.
You can’t cheat and borrow more shares than are available. A few things have happened.
GameStop has been massively shorted for a long time.
The float (available shares for trading) is small (46m or 49m, something like that).
Smaller float stocks are prone to squeezing on even minimal news, let alone a forum target buying).
Increased buying (by the WSB gang, mainly) has cause the price to increase. As the price increases shorts start to cover. Shorts cover by buying shares. Now WSB folks are buying, retail traders are buying (because it’s good action), and shorts are buying to cover.
(And the most interesting part of what makes this squeeze so insane). Institutions and others (regular people too) sold naked call options, which is allowed. Unfortunately for the institutions, they over played their hands and oversold them (also allowed. They can sell as many as they can back with real money). As of tonight all of those naked calls are in the money and expected to automatically execute on Friday. Anyone who sold those naked calls, who doesn’t have the shares to cover the call options with shares (that’s why it’s naked), will owe the owners of the call options the value of the shares equal to the number of contracts times 100 at market close on Friday. So institutions are panic buying now too. Cheaper to buy the shares the last couple days and pay in shares than pay in real money on Friday.
This move might bk an institution, maybe a couple. It’s definitely going to blow up some retain traders accounts. It’s definitely going to leave some novices pissed off at the end of the week. And a handful of people will make a shit load of money.
Which is why this seems like a ploy [THEY] would attempt. Very similar to the Market Crash of '07-'08. And Black Monday.
Short selling stocks should be made illegal, as it seems to be the very thing that keeps crashing markets. Over and over again.
I could be wrong but we’re doing what they’re doing and they’re mad they’re losing control of the market. Expect some sort of regulation regarding stock manipulation from the biden administration.
Everyone knows I invented electricity.
Fucking grifting, lying sonsabitches, I tell you....???
It’s a massive short squeeze. It’s likely the hedge funds have already bought back their stock. Nothing is going to happen on Friday, except a bunch of incels on 4chan will get burned
Exactly this. The float has rotated multiple times the last few days. If it gaps up tomorrow, which is likely, it will also likely be the death blow that ends the squeeze.
Is there a way to describe what is happening to a dummy? I know Gamestop is a computer game store where the man yelled It's M'am! but that's all I really know.
In short. People have decided to buy GameStop stock for shits and giggles massively inflating the stock value trying to force investment firms and hedge funds out of business.
I’m in. Where do I send my money?
Obvi it’s too late to get in on gamestop; which company do we do this with next?
So, reddit actually did something worthwhile?
Thanks that was a smooth one. Still laughing.
I jumped out early and still made $425k. This is definitely the best timeline.
Dammit me too reddit gets the best trolls
Holy fucking kek. Fren can you teach me to make that kind of money???????
I can. First lesson is only $1k! Act now!
Step 1: Already have lots of money.
gandalf meme “gamestop....crash the economy?”
I don’t know anymore. All I know is We’re on the crazy train and the breaks just failed. Expect things to get crazier.
ConfusedGandalf.png
Yeah I just caught wind of AMC in the mix as well hahaha whaaaaat is happening. Honk honk.
It’s a short squeeze. Though inflation is a risk in the economy m, There are better explanations.
Lol this is hilarious. Billionaires are about to become millionaires or less.
LEARN TO CODE.
Game Stop stops the stock market...how ironic!
Apparently they are looking to do this with AMC and Blackberry too.
So should we also buy into those companies too to get in on this or what?
That's your choice.
I can tell you that I put $40 into AMC.
Bought some GameStop too. Not much, but that's not the point.
I think I'd rather go for silver & gold....
Thanks though!! Good luck with your trades! :-)
Play right into Citadel's hand.
If you do go that route though, I suggest buying physical silver and gold.
sauce?
Well I decided I was late on GME but just picked up BB and NOK. Thanks!
A quick Google is ganna bring up tons of articles, Elon Musk just joined the fray too. If you've got robinhood check BB, GME, and AMC.
My favorite electronics technician made this video breaking this down for the people in Rio Linda. He kicks ass and speaks truth and does a good ELI5.
https://youtu.be/4EUbJcGoYQ4
Naked short sellers noticed by reddit and forced to cover their shorts so cry like bitches and get bailouts (as usual) while decrying the redditors who had the gall to notice they literally shorted more than 100% of available stock thus guaranteeing they MUST COVER BY BUYING FROM REDDITORS WHO ARE SPIKING THE STOCK PRICE.
Q - 3872
To be blunt... GAME OVER. You're right. That about sums it up, lol.
Pretty much
Of course the guys trying to fuck with the system get fucked by the persons who run the fucked up system for the purpose of fucking the public.
That’s a lot of fucking
That’s a lot of sore dicks!
Yep. Never buy where there's greed afoot.
Liar!
This is a literal crowdfunded way to break the naked short selling of our stockmarket.
The “institutional” investors are going to take it in the shorts! They already are.
You should check out TSLA...
Great!!! Can't wait.
Do it already. The longer we have to wait for all this to kick off, the more my PTSD gets to me.
Dude, it’s a 10bln market cap. This is like telling every incel in California to pee in the ocean to drown Tokyo. Makes no sense
wait! am on east coast, can I get to west coast in time to pee in ocean?
Lol its already crashed! Go read the latest economic data on zerohedge or wolfstreet. make sure you're sitting
$209.26
https://www.marketwatch.com/investing/stock/GME?mod=refsymb_mw
Gamestop is still around? I thought they went extinct like Blockbuster video or the dodo bird.
That's why they bet on it to fail - by everyone buying into its bankrupting billionaires. Thats the point. Same deal with AMC and Blackberry. They're toast haha