1st off if you don't know, Jim Cramer is the biggest paid financial shill for Wallstreet. His job is to get dumb money to invest in dumb things. His track record is soooo bad there's no other expiation. You can actually do well on stocks and beat the market by doing the opposite of what he says.
CNBC just used 30 minutes of time that was scheduled to be part of a normal hour of Shark Tank.
Every day at 5 PM Pacific the news on CNBC ends and Shark Tank begins. This Monday was no different, except the stock market saw the NASDAQ take a -4%+ drop and DOW take a -3%+ drop only to recover, and like another post on this sub pointed out, that’s the most significant drop and recovery in a trading day since October of 2008. Eesh.
So why does Shark Tank matter? Shark Tank is a ratings monster. There’s a reason it is first up in prime time every single day on CNBC. There’s a reason I watch it every day other than just wishing I could make a bunch of fucking money for some other reason besides just all the money I plan to make on GME (so I could then throw it all into GME and make more). But besides all that, it would take a lot for CNBC to just skip over 30 minutes of Shark Tank. They wouldn’t give up all those eyes for nothing, unless they wanted them on something. And guess what they had on.
They had fucking Cramer. And he was shitting on retail traders like normal, but he was also desperately sending a message. And that message was that we are not in a recession and everything is okay. He tried to say that now is the time to buy. That buying in this uncertain time is the antidote. They gave Cramer 30 whole minutes of Shark Tank time so he could plead with the working man to keep buying, keep bag holding as we veer off of the cliff, because we are veering hard. He knows it, CNBC knows it, they mentioned it on the show.
They literally said, you can taste it. Regular people can taste it. Wild statistics like the dip and recovery today being the biggest since October 2008 are piling up, we are seeing the writing on the wall clearer and clearer and the dumbest of smooth brain non-apes who invest in mutual funds are starting to hear little birds telling them something is off. And they’re starting to question their masters, and CNBC has to take the time to inject an extra fat dose of it-will-be-okay to keep grandma and mom and dad buying stock while the market makers and rich investors cash out and jump ship.
TLDR; Shark Tank being interrupted by Cramer telling folks to bag hold harder is the canary in the MSM coal mine.
Persona opinion: this is likely tied to the GME and other stocks naked shorting and synthetic shares costing Hedge Funds BILLIONS so far. It looks like a major one got margin called yesterday.
Stupid advice.
If you know anything about the stock and the situation it is in, you would know that this is the best advice in this thread.
I know that a lot of people bought GME because of the naked shorting.
I also know that GME has ZERO naked shorts today.
I also know that GME has been losing more and more money over the past 2 years.
I also know that stocks that lose money get CRUSHED in market selloffs and bear markets.
That's what I know.
What do you know?
They use off book swaps to hide the short interest
Short interest is self reported and they lie about it
That they use XRT and IWM to created more fake shares of GME (since ETFs are allowed to temporarily make naked shares for rebalancing purposes.
That XRT is currently at 250% short interest (which is self reported which means higher)
In December XRT short interest almost hit 700%
Due to off the books swaps that are back by futures, GME makes a run up EVERY 90 days
That the MEME ETF that was created in December was almost immediately placed on the Securities threshold list. This ETF contained both GME AND DWAC.
When the MEME ETF was placed on the threshold list due to overshorting, DWAC immediately took off
That the Motley Fool ETF was placed on the threshold list as well containing GME
That GME is the only stock that had thousands of articles written about how bad of a play it is
That Melvin Capital, one of the most prolific companies to short GME, is down 50% in 2021 and already down 25% in the first 3 weeks of 2022
That Melvin Capital has moved funding from their office in New York to the Cayman Islands
That GME has no debt, is below the average P/E ratio for a stock of it's type
That GME's actual cash on hand gives it a minimum evaluation of $88
That no inside has sold ANY GME period since September 2021. Every large company in America's insiders have sold a shit load since then
That the media purposely leaked an article with no sources about GME's NFT marketplace to cover-up for after hours buying that they did try to satisfy FTDs on GME
And that is just off the top of my head 🤣
You have a great memory,thanks for posting.
I think you should change your name to rachelkillsmag768720
They weren't hiding it last year, when it showed 120%-130% of float was short.
Why "hide" it all of a sudden?
Well, FINALLY someone in this thread actually states which ETF's are supposedly being used to "secretly short."
So, now you are saying that the money management team for XRT, which is one of if not THE largest retail funds in the market, is involved in illegal trading just to help out a few hedge fund buddies. Look at their holdings:
https://finance.yahoo.com/quote/XRT/holdings?p=XRT
Top 10 stocks have around 1% of the fund's assets invested. GME is not one of them, so if they own GME at all, it is likely much less than 1% of assets.
IWM is the Russell 2000 index fund, which owns 2000 small cap stock (GME likely is one of them). But an index fund DOES NOT micromanage positions. They periodically buy/sell at the end of the month or quarter to reflect which stocks are still in the index, so their fund assets match the Russell 2000 index. You are saying that the management team of this fund, which has NO AUTHORITY to buy/sell outside of the specific parameters of matching the Russell 2000 index, is secretly shorting massive amounts of GME -- and putting the ENTIRE FUND AT RISK -- and putting themselves at risk of serious PRISON TIME if it goes wrong, just to help out some hedge fund buddies?
And BTW, those hedge fund buddies ... ALREADY COVERED THEIR SHORTS.
This is LOONEY TUNES you guys are buying into.
And do you know WHY they would do that? Because they USE FUTURES CONTRACTS to attempt to mirror the INDEX that they are REQUIRED to try and match. That is the WHOLE POINT of the existence of this fund: to match the S&P Retail Index.
In their own words ...
https://finance.yahoo.com/quote/XRT/profile?p=XRT
The IWM (Russell 2000 index mirror) is a fund that does the same thing.
There are NO futures contracts that specifically target GME. It would be WAY easier to just short the stock by "shorting against the box" where they both buy and sell at the same time, and then exit their long so they are net short.
The reason for the "run up EVERY 90 days" is FAR MORE LIKELY to be explained by market manipulation. Every 90 days, there is an earnings report. Stock manipulators (like the ones YOU are following) tout stocks around earnings time. The company itself might also manipulate in hopes of landing a big fish who will make an investment in a company that is on the brink of bankruptcy -- like GME did recently.
Now, THAT is the first interesting point I've seen made in this entire thread. However, MEME has ... ZERO ASSETS.
https://finance.yahoo.com/quote/MEME?p=MEME
Also, DWAC has ... ZERO REVENUE. It is a SPAC, which are almost all shell companies with nothing. Maybe Trump's support will change things, but so far ... ZERO REVENUES (not zero profits, but zero revenues -- my niece's lemonade stand had more in revenues than DWAC).
How do you arrive at that figure? They have $1.4 billion cash on the books, with no other significant assets (inventory would go for 10 cents on the dollar in a liquidation, and the rest is smoke and mirrors). But against that cash, they have $1.5 billion in current liabilities.
https://www.sec.gov/cgi-bin/viewer?action=view&cik=1326380&accession_number=0001326380-21-000129&xbrl_type=v#
The company doesn't have any REAL book value, if push came to shove and they had to declare bankruptcy. Which, it looks like will happen sometime this year at the current burn rate, unless they get another cash infusion.
Hey, props to you. At least YOU responded with actual substance, unlike anyone else in this thread.
I followed this story back when it was up over $400 per share, and it was interesting, but it looked like a hyped-up nonsense story to me then. Looks even worse now.
At least, I stepped aside from a roughly 90% loss (so far). Maybe that's why the shills here are so angry with me.
Those losses are hard to take. I've been there, done that, with other stocks.
That's why I see it much differently. And so far, I have been the one who was right. I just wish I would have shorted, too.
Good luck if you are long. At least YOU can make a case for your position, and I DO respect that.
I don't respect the braindead zombies around here, though, who evade honest questions. You are the rare exception to the rule around here, it seems.