Issuing new shares requires approval of existing shareholders. But, any other holders of the stock can sell to allow them to cover. Average volume is 24M shares so i would imagine that getting out of the short isn't that impossible.
The current number of shares on loan is 44M, and the price increase since yesterday is $100. So we're talking about a paper loss right now of $4.4B.
That might sound like a lot but i'm not sure how significant it really is.
This actually happens all the time with meteoric rises, the company does a public offering to take advantage of the high price. VERY common amongst penny stocks or companies strapped for cash, as I would imagine Gamestop is pretty strapped due to covid and the ability to download games online.
One thing that I wondered was how did this short war get started in the first place? The actions being taken only work if people know information about the hedge fund short positions ahead of time. How did that happen? If I ever shorted a stock, I would never tell anyone about that fact...
I think any hedge fund could do what reddit has done at any time if some fool borrows more shares than are available and it is known that you literally are required to buy at any price. The fact that they don't do this on the regular makes me wonder if there is a gentleman's agreement about such things.
Honestly, kinda why I don't have any desire to mess with the stock market. Feels like God's judgement for usury/greed. I'd rather just work hard, save money, own real assets(goats and chickens).
I call BS on the MSM spin that this short squeeze is due to oddlot Robinhood trading. No way! This is an attack on MUCH larger scale. It requires a lot more to squeeze this many positions. GME, BBBY, NOK, etc. etc. I am not discounting the power of the small guys banding together and piling on but the catalyst for this squeeze originated from somewhere else.
You'd have to be a retard to buy GME now. It will totally collapse and these dummy Redditors are just going to get owned by institutional investors when they short it on the way down again lmao
There’s another thread about this but an even better video. https://youtu.be/4EUbJcGoYQ4
TLDR: some weebs are screwing over billionaires. It’s awesome.
A hedgefund had a bunch of shorts on game stop.
Reddit wallstreetbets got together and all decided to buy the stock.
There are 50m stocks still shorted.
If everyone on wallstreetbets holds then they can never buy a stock to sell it to cover their short.
GME hits 5k just as a LOL to fuck over a hedge fund.
Thank you for knowing wallstreet bets had a big hand in this pump. They do this with a lot of meme stocks.
If GME begins to issue additional shares for sale, wouldn't this little game end rather quickly?
It would be the appropriate corporate action, non?
Fucking over your stockholders is the appropriate action?
Fucking over the shorts is fine by most honest investors.
Well, bond holders and debt holders and wage earners are higher on the ladder, so yes you do fuck over the stock holders first.
Those people arent shorting the stock, though. Fuck the hedges and their billions in losses for shorting GME.
Issuing new shares requires approval of existing shareholders. But, any other holders of the stock can sell to allow them to cover. Average volume is 24M shares so i would imagine that getting out of the short isn't that impossible.
The current number of shares on loan is 44M, and the price increase since yesterday is $100. So we're talking about a paper loss right now of $4.4B.
That might sound like a lot but i'm not sure how significant it really is.
Also not an expert :) I agree it's a lot for a single fund. I guess I was assuming it wasn't just one player.
This actually happens all the time with meteoric rises, the company does a public offering to take advantage of the high price. VERY common amongst penny stocks or companies strapped for cash, as I would imagine Gamestop is pretty strapped due to covid and the ability to download games online.
https://web.archive.org/web/20210127101019if_/https://www.reddit.com/r/wallstreetbets/comments/l60euz/theory_the_hold_is_working_and_the_squeeze_is/
https://greatawakening.win/p/11SK7FvB39/the-gme-stock-war-leads-to-suici/
That's my short closed out then.
One thing that I wondered was how did this short war get started in the first place? The actions being taken only work if people know information about the hedge fund short positions ahead of time. How did that happen? If I ever shorted a stock, I would never tell anyone about that fact...
its public knowledge. Also this is the hedgefund that was shorting tesla and fucking with musk.
Musk sent out a tweet about gamestop recently to add to this.
they got too cocky.
Short lists are published. Not hidden info.
I think any hedge fund could do what reddit has done at any time if some fool borrows more shares than are available and it is known that you literally are required to buy at any price. The fact that they don't do this on the regular makes me wonder if there is a gentleman's agreement about such things.
ya, the people are taking DOWN the hedge funds !!!!!!!!!!!!!!!!!!! Viva la revolución
they shorted the stock and are going to pay BILLIONS because it expires on FRIDAY !!!
Fingers crossed.
https://greatawakening.win/p/11SK7FwXlD/shall-we-play-a-game--gme-/c/
Short Squeeze! Haha. It's not funny for the shorts but it happens.
Now up around $340. Damn. And the wall street guys are going to try to use the media to stop it...
https://www.msn.com/en-us/money/topstocks/bofa-warns-gamestop-stock-could-plunge-93-25-as-weak-earnings-and-skeptical-turnaround-plan-will-weigh-on-the-business/ar-BB1d91FI
Honestly, kinda why I don't have any desire to mess with the stock market. Feels like God's judgement for usury/greed. I'd rather just work hard, save money, own real assets(goats and chickens).
I call BS on the MSM spin that this short squeeze is due to oddlot Robinhood trading. No way! This is an attack on MUCH larger scale. It requires a lot more to squeeze this many positions. GME, BBBY, NOK, etc. etc. I am not discounting the power of the small guys banding together and piling on but the catalyst for this squeeze originated from somewhere else.
You'd have to be a retard to buy GME now. It will totally collapse and these dummy Redditors are just going to get owned by institutional investors when they short it on the way down again lmao
My understanding is these hedge funds are contractually obligated to buy it as early as Friday. And there is over 100% saturation.
https://web.archive.org/web/20210127101019if_/https://www.reddit.com/r/wallstreetbets/comments/l60euz/theory_the_hold_is_working_and_the_squeeze_is/