BiggestBigDaddy99
80348
2278
22
All hail u/DeepFuckingValue and the rest of the legends over on r/WallStreetBets
Jan 28, 2021 12:54 AM
BiggestBigDaddy99
80348
2278
22
All hail u/DeepFuckingValue and the rest of the legends over on r/WallStreetBets
Quylein
When did Elon turn yellow?
RazerFired
We like the stock ?????
GraemeDynard
A company that should be bankrupt is now a fortune 500 company? By nerds on Reddit? I'm confused.
jethroismaxbaer5772
DarkHourse
That photo would be improved by adding Bernie.
Bizarkly
Value investors who have actually made money in the market have basically stayed the hell away from the 'short' game, or timing the market.
FireSolvesProblems
Eiladar
Well. I mean. This tracks with GameStops business model: sell you a game, buy it back for pennies on the dollar sometime later.
VolCana
Dont fuck with gamers?
Holo82
i am pretty sure that gamestop actually has more valuable assets than tesla. Tesla is the biggest stock bubble in history.
Holo82
Toyota , VW each sell 10 million cars a year. Tesla 500k. Tesla is valued higher at stock market. bonkers.
killersoda275
GameStop, AMC, Blockbusters, Nokia, Blackberry. Buy and hold, hold with a whit knuckled grip. The death grip on the throat of hedge funds.
juffowup00
Isn't there some leagal consequences if somebody fucks with the stock markets?
FaustsAccountant
Depends on who you are and which politicians you bought
kachinFlyer
GME to the Moon ?
GoofusMcDoof
I'm doing my part
NemoVi113
Monkey strong together. Buy and hold
Scotia
My wife's boyfriend says I'm a dumb cuck but I'm going long anyway.
shutterstockharold
I like this stock
BananaMinion2000
Gamestonk.
torokunai
AMC Theater https://www.cnbc.com/2021/01/27/amc-shares-triple-as-retail-investor-raid-of-hedge-fund-short-targets-spreads-from-gamestop.html
NepLeet
TOOTSIE ROLL!
CeliusFFXIV
Blockbuster lol /a/IxGRXy2
iamspartan1262
I like what they're doing to help out GameStop, but they've lowkey been terrible for a hot minute. They're slowly turning into a store that
iamspartan1262
Sells everything but games like hot topic. I hope this helps them change for the better
SkateSewLove
Stock aside, how is gamestop staying afloat with download gaming so prominent?
KiyaSeraphia
POP! Toy Figures and accessories.
evilspyre
It won't long term, thats why they were shorting the stock in the first place, hoping to make a killing just before they go out of business
joshybones
it won't
Tyco2
Going the way of blockvuster
kerrykitty
Do Nokia now
valentinewillis43
Can someone tell me what is going on with Gamestop and the stockmarket?
CategorizedPull
.
[deleted]
[deleted]
valentinewillis43
PredictiveText1stOption
What happens when the company continues to perform poorly? Stock price doesn’t affect sales so even though greater value they still fold no?
Tyco2
The stock price will crater before the company goes insolvent.
Holo82
this is only stock related. it doesnt affect the companys daily business at all.
PredictiveText1stOption
That’s not true otherwise why issue stocks
Holo82
stocks are issued by companys to get capital. Nominal capital. The price is unrelated to this. VW: Nominal 2,56 Euro Price: 157 Euro.
Nirvash1
Hedge funds are betting on stocks to go down so they make money. Gamestop stocks went from 5 to 300 dollars. So hedge funds lost billions.
JRinka
Awww I feel so bad for them.
lurksinthecomments
But does it stay up there if the sales are low?
TempusAeturnum
NickRivieraMD
What keeps them from getting it all back when game stop craters?
xxJohnxx77
Tomorrow a lot of calls expire and they have to pay for the stocks at the current price.
heavilymedicated
The shorts have "return by" dates in their contracts with the firms lending out the stocks.
TwoWheelsGoodFourWheelsBad
If they have enough capital they can keep shorting until it goes down, which will eventually happen.
fuelpergallon
Not 100% confirmed, but I think the hedge funds are forced to cover their positions at certain points, locking in their losses.
fuelpergallon
But the chips are gonna fall at f’in random for the redditors.
AllysiaAiua
Yup. When you short sell, you basically borrow stock from someone, sell it at the current price, and then promise to refill the same amount
AllysiaAiua
on a specific day.
NickRivieraMD
Is it on a specific day? And if you default do you owe the value due on that date regardless of later changes? I couldn't find a source to>
1Delete1
May I request explanation on why hedge funds makes money like that?
Inappr0priate
It's collateral for doing the short. Basically backing.
gspot404
https://www.npr.org/2021/01/27/961291455/gamestop-and-the-short-squeeze
HypnotoadIRL
Buy the stock. Basically, selling something you don't yet own is very dangerous. 3/3
HypnotoadIRL
Hedge funds sell a stock they don't yet own, hoping that the price will be lower when they buy it in the future than when they sold 1/2
HypnotoadIRL
It today. Reddit increased the price dramatically so they sold the stock in the past for 10% of what it will cost them now to actually 2/3
CurbYourClassWar
StanleysBucket
https://youtu.be/Z1LctxzEREE
1Delete1
Thank you for the link. I won't lie, the stock/share lending part goes way above my head tbh.
elson12
They borrow stocks (for a small fee), promise to return it on a certain date. Sell the stocks at market value. Engage in tactics that 1/
elson12
would drive the value of the stock down. Buy them at much lower price. Return the stocks. In this case, the internet caught wind of it, 2/
elson12
helped raised the price. The hedge funds have to buy back the stocks to return them. So they have to pay more than what they sold 3/3
DustBunny99
When is the date they have to buy them back?
ArkansasJackHammer
How did they help the stocks to rise? Just internet chatter or something?
IUpvoteLOTRMemes
This story makes me all warm inside, everytime I hear it. It's almost arousing. Tell me again
Crowscrown
Daskiel91
Sell share at 10 bucks a piece, price drops because they were sold, buy back for 5 or less. You just made 5 bucks from buying back. 1/2
Daskiel91
Only that that happens in the hundreds and thousands. Now with reddit they make losses and debt, since those stocks were borrowed 2/3
Daskiel91
Aka, you got 10 bucks from your pal, spend it and wanna make more money. You lose the money, you are in debt now with your pal
GingerLaird
I don't necessarily want to understand. Game Stop is a dumpster fire, but we saved it to screw over the hedge funds.
Sasarious
We are using a corpse to beat a bunch of people to death.
yourmomisausername
Gamestop is far from saved. This won't affect them in the long run one way or the other.
anonbanannon
If they start dumping shares they could benefit
Undrave
that means more people not losing their job in the middle of a pendemic, even if its temporary reprieve.
DoorbyTheHouseShelf
Maybe saved temporarily, but it won't last long. They're planning to shut down like 400 stores this year. Its a failing business
Tyco2
The stock price is soaring with no change in the underlying quality of the business. At some point the stock will drop.
Tyco2
This doesn't really help the business at all. Screws a hedge fund in the process. Sucks to be holding this stock when it tanks.
FeIineDisrespectFromBehind
Couldn't they have picked a more deserving company? Game Stop didn't deserve it for all their shitty practices.
welcometothedarkside
GameStop was the most shorted stock out there.
TylerWarranty
It's more about the 130% short thing. More shorts than actual stock, so it was guaranteed to make money if people buy, basically
MonteCristo1985
Not really. The hedge funds picked it because it is shitty. They expected it to go down, so sold it high and expected to buy it back low.
nessusDM
Game stop isn't really gonna make anything out of this. The stock will go down before they can use it
BrokeMyFunnyBone
Their CEO will though
DrummerOnDemand
There's no other company that is short 140%. The setup needed for what's about to happen. Also, Ryan Cohen, from Chewy.com joined the board
GingerLaird
#BringBackFunCoLand?
FaustsAccountant
Holy wow, I haven’t heard that name in.....decades!! (Also, sh*t I’m old)
GingerLaird
When I was a kid, in the 90s, I remember going to FunCoLand and Gamestop looking for playstation games until I got a PC. >>
GingerLaird
>> My first games were Crash Bandicoot, Twisted Metal, and Jet Moto.
Guerrerense
I like how memes are helping me understand a topic I’m too dumb to understand.
gspot404
https://www.npr.org/2021/01/27/961291455/gamestop-and-the-short-squeeze
MacallanNeat
Something something Reddit trolls fucking around with stock market magic to give GameStop a boost something something
eronth
Not too dumb. Wording is intentionally obtuse to require someone with the correct education to understand. If you focused it, you'd get it.
johnrSparkleDriver
I know, right!
jo3s
This explains the context: https://youtu.be/4EUbJcGoYQ4
kachinFlyer
Agreed - it’s helped me too. Education by memes is great
Jusse42CrispLover
You’re not too dumb. The system is too crazy. It defies natural logic and decency. But I agree, the memes are helpful to understand crazy!
Olympia1024
Omg I read the dumb downed articles and still came away confused at what was happening
AngryGraphicDesigner
Yeah, basically the Stock Market is utter bullshit and incredibly easy to manipulate
Tumescentpie
Capitalism is neat.
VolcanoHerder
Rich people's popularity contest. Like how we upvote posts, they buy stock in companies.
boondoggle2025
It's a graph of rich people's feelings
Killacayne
It's all a sham
Mxlespxles
HoppulusMoMo
Was waiting for this. Look into the history of the subject, it’s always been bullshit!
fakehugs
kiddub
I feel like now is a perfect time to short GameStop stock.
Tyco2
In theory you could just buy a put option. Not sure anyone is willing to write one though.
HumanCondisean
They'd just be stupidly expensive rn because of the insane volatility. Someone will always sell for the right price
seventhsonandsomesuch
Guys here have missed the pint of what caused this. There were more short positions than stock to back it. It was borrowing against nothing.
NemoVi113
Almost. Short contracts are public knowledge. So as long as the shirts are comming in hard, the buy and hold strat will always make stonks
NemoVi113
Maybe in like... 2-3 weeks
dergage
Reddit will stay irrational longer than you can stay solvent.
kiddub
They are already moving on to other stocks to expose other short sellers in similar positions. GME will drop as a result.
dergage
Don't be so sure. As long as dfv holds, all of wsb will hold.
kiddub
Lost 44% of its value today.
dergage
Perfect. Everyone can buy cheap!
kiddub
There’s no business to sustain that value. They need to find continuous investors to maintain its position let alone grow it. GameStop is
kiddub
Closing 450 stores this year. There’s no there there and short sellers are walking away with big money backing to do so.
DrummerOnDemand
It's not about the value anymore. It's about fucking over market manipulators