Amazing what a lack of full on NYSE enabled price manipulation does.
You'll have to use the app above to check the prices. The price changes aren't showing up in any of my other apps like Fidelity or RobinHood.
Here's to hoping we can crack $80 (All time high price pre-split) today so all hell breaks loose Tues morning.
Speculation based off of a lot of evidence:
It looks like Gamestops announcing a merger or something to that effect either possibly today or tomorrow.
United Bank of Switzerland (UBS) appears to be closing all their short positions out and purchased a absolute shit ton of calls in order to profit when the price goes up to cover the cost of all the short positions they inherited.
If you recall they bought Credit Suisse for $3.2 billion last year. I don't think at the time they realized the naked short positions CS had. I think they worked out a deal with GameStop to unwind it so they can come out of this alive. I think that's probably a significant portion of the reason why GameStop just sold 2 billion dollars worth of stock. UBS was the buyer.
Figures the swiss would decide to get the fuck out first. They get to survive now. (They always seem to have the survival role)
That was the only lifeboat me thinks.
All the other big guys are locked in.
Okay, just wanted to make a few additional anecdotes to your comment Datasinc:
-Gamestop did not just sell 2 billion dollars worth of stock. They sold around $933 million (45 million shares) and it was announced/confirmed on Saturday May 24, 2024. They sold shares previously to pay off debt and the cash at hand was around $1.3 billion. They spent around $200 million and the next filing should show what it was spent on. So with the additional $933 million and the original $1.1. billion (minus the $200 million that was spent), they are now at $2 billion. Just want to clarify for anyone reading.
-There is speculation that it could be UBS covering their positions through buying a shit ton of call options. But one of the issues is that the amount of call options there are is not enough to cover the swaps UBS would owe. There is also speculation that it could be RoaringKitty since the frequency of which the options were bought were mimicking his tweets, in 15-10-5 minute increments.
-Interesting to also note, is that the subreddit r/Superstonk, which has been compromised for some time now, has repeatedly told people to avoid options and has spread the narrative that it is just UBS trying to cover their swaps through call options and for people to remain calm and expect nothing.
On the other hand, X.com, a platform that is supposedly not censored but riddled with bots, follows the narrative that it is indeed RoaringKitty and that an acquisition of Bed Bath and Beyond is in the works.
Amazing what a lack of full on NYSE enabled price manipulation does.
You'll have to use the app above to check the prices. The price changes aren't showing up in any of my other apps like Fidelity or RobinHood.
Here's to hoping we can crack $80 (All time high price pre-split) today so all hell breaks loose Tues morning.
Speculation based off of a lot of evidence:
It looks like Gamestops announcing a merger or something to that effect either possibly today or tomorrow. United Bank of Switzerland (UBS) appears to be closing all their short positions out and purchased a absolute shit ton of calls in order to profit when the price goes up to cover the cost of all the short positions they inherited. If you recall they bought Credit Suisse for $3.2 billion last year. I don't think at the time they realized the naked short positions CS had. I think they worked out a deal with GameStop to unwind it so they can come out of this alive. I think that's probably a significant portion of the reason why GameStop just sold 2 billion dollars worth of stock. UBS was the buyer. Figures the swiss would decide to get the fuck out first. They get to survive now. (They always seem to have the survival role) That was the only lifeboat me thinks. All the other big guys are locked in.
Okay, just wanted to make a few additional anecdotes to your comment Datasinc:
-Gamestop did not just sell 2 billion dollars worth of stock. They sold around $933 million (45 million shares) and it was announced/confirmed on Saturday May 24, 2024. They sold shares previously to pay off debt and the cash at hand was around $1.3 billion. They spent around $200 million and the next filing should show what it was spent on. So with the additional $933 million and the original $1.1. billion (minus the $200 million that was spent), they are now at $2 billion. Just want to clarify for anyone reading.
-There is speculation that it could be UBS covering their positions through buying a shit ton of call options. But one of the issues is that the amount of call options there are is not enough to cover the swaps UBS would owe. There is also speculation that it could be RoaringKitty since the frequency of which the options were bought were mimicking his tweets, in 15-10-5 minute increments.
-Interesting to also note, is that the subreddit r/Superstonk, which has been compromised for some time now, has repeatedly told people to avoid options and has spread the narrative that it is just UBS trying to cover their swaps through call options and for people to remain calm and expect nothing. On the other hand, X.com, a platform that is supposedly not censored but riddled with bots, follows the narrative that it is indeed RoaringKitty and that an acquisition of Bed Bath and Beyond is in the works.