Something is coming to Truth Social and it scares them. Shills everywhere here talking about selling DWAC, Musk attempting to rebrand Twatter, and now WaPo hit piece on how Truth Social is failing and Trump may go to GETTR. And its just Tuesday. I’m comfy AF.
(media.greatawakening.win)
🧠 These people are stupid!
Hedges shorted it (borrowed many shares, sold them expecting them to tank because brick and mortar game shops in this day and age would hemorrhage money)
They were really fucking with it and making all sorta of derivatives, so people realized if they bought enough shares, when hedges had to return the shares they borrowed, there'd be nowhere near enough available and price would skyrocket.
They've been manipulating the market since, including disabling a "buy" option and only allowing people to sell their shares so prices would drop and hedge funds could cover their shorts.
But people kept holding and buying whenever possible. Hedges had to take loans/extensions/dump other assets to cover (I suspect many of the crypto sell offs were for this reason).
By holding and buying up more, users are creating a ton of pressure and the market tricks can only go so far. The idea is that when it all gives, true price discovery will finally show.
Much like how the metals markets are manipulated. Silver and gold are far below what they should be due to COMEX tricks and the selling of the same metals in unallocated vaults to multiple buyers who never demand delivery.
The same 1000 oz bar of silver may have 100 owners and no odd ever demands delivery so the metals banks and exchanges keep reselling it to keep prices down.
Now, many MANY people have been demanding delivery and the banks are losing the metals that they love to play tricks with.
This is a VERY oversimplified explanation.
Also, beyond the shorts that haven't yet been covered (and never will because they sold more stock shares than exist), GME is rumored to be doing a lot of work behind the scenes with blockchain based off Ethereum tech. Rumors are they are going to be offering a market not just for games(licenses) and NFTs to be openly traded but even other cryptos and a blockchain alternative to the NYSE/NASDAQ markets.
Their management changed last year when they got a new chairman who basically got rid of much of the executive staff and board of directors.
Yep and one wonders if Ryan Cohen was already looking at the company or if all the Reddit interest in buoying it up drew his interest as this started back in 2020. Since then the price increase allowed them to pay off their debt years early, removing the risk of them going bankrupt which is what the hedgefunds were trying to do to it in the first place as if you short a stock normally you just profit off the price difference when you close your position at but if the company went bankrupt you get even more as the price went all the way to zero.
Great, succinct explanation. It's easy to get lost in the terminology weeds like I did at first. There's tons of good DD on r/Superstonk for anyone wanting to take a deep dive. My question is, why would any market maker or prime broker ever have a margin call when it's sure to bankrupt them and everyone up the chain from them? Seems to me that, while there's only one outcome if we buy, hold, DRS, this will drag out until the float is locked.
When they opened that illegal amount of short positions the stock was under $2 and the company was headed for bankruptcy. Now through retail pressure it's been bouncing between around $40 and $400 for over a year now. Also they used to have plants in the management like a CFO who had a history of running companies into the ground, he was one of the first that the new Chairman got rid of. So at the time it was a sure bet for them but they've been caught with both hands stuck in the cookie jar and are calling in every favor they have to survive another day and try to demoralize retail into leaving.