GameStop Stock up $71/share today. How?

NorthwestFresh

Hoping a stock guru here can explain it. Why so much action on a dying retail shop?

I bought a bunch of Zoom early March last year and while the return has been excellent, it’s nothing like this anomaly.

https://twitter.com/timcast/status/1354181776109920256?s=21

insinceredawg

https://www.vox.com/the-goods/22249458/gamestop-stock-wallstreetbets-reddit-citron

greenblood

Trolls > Wolves

DJDuck

Short sellers drove the stock down and then profiteers started buying like crazy.

NorthwestFresh

greenblood said:

Trolls > Wolves

I suppose but isn’t there an functional SEC to protect the market over a great troll move. Nothing against the trolls, I like it, but it doesn’t exactly instill faith in shorts like this one where it’s a coordinated effort. George Soros does something similar, except he tanks currency and then profits massively.

creepycoug

insinceredawg said:

https://www.vox.com/the-goods/22249458/gamestop-stock-wallstreetbets-reddit-citron

Left has said he’ll no longer comment on GameStop because of the “angry mob” that’s formed against him and complained he’d “never seen such an exchange of ideas of people so angry about someone joining the other side of the trade.

Someone needs to send this guy an invite to the Tug for some perspective.

I honestly don't really understand this side of the market. To me, it's a game the rules for which are over my head.

creepycoug

NorthwestFresh said:

greenblood said:

Trolls > Wolves

I suppose but isn’t there an functional SEC to protect the market over a great troll move. Nothing against the trolls, I like it, but it doesn’t exactly instill faith in shorts like this one where it’s a coordinated effort. George Soros does something similar, except he tanks currency and then profits massively.

Yep. If it rises to the level of market manipulation, they could in theory get a call from the DOJ or SEC enforcement.

https://www.classlawgroup.com/securities-fraud/stock/market-manipulation/#:~:text=Market manipulation is illegal in,both securities and antitrust laws.&text=Securities laws and related SEC,unlawful to manipulate security prices.

RoadTrip

I'm being told AMC has a chance to do what GameStop just did.

Sources

AMC, BB, and a few others that are heavily shorted. SI (short interest) isn't generally available in real time, but you can get a good idea.

Basically, a few hedgies got a little greedy and sold more shares than are available to buy back. That creates a massive issue when you only profit if the price goes down . The piper gets paid on Friday. Keep an eye on GME and don't be surprised if Melvin Capital is a memory this time next year.

greenblood

NorthwestFresh said:

greenblood said:

Trolls > Wolves

I suppose but isn’t there an functional SEC to protect the market over a great troll move. Nothing against the trolls, I like it, but it doesn’t exactly instill faith in shorts like this one where it’s a coordinated effort. George Soros does something similar, except he tanks currency and then profits massively.

The market is manipulated daily

BennyBeaver

Sources said:

AMC, BB, and a few others that are heavily shorted. SI (short interest) isn't generally available in real time, but you can get a good idea.

Basically, a few hedgies got a little greedy and sold more shares than are available to buy back. That creates a massive issue when you only profit if the price goes down . The piper gets paid on Friday. Keep an eye on GME and don't be surprised if Melvin Capital is a memory this time next year.

Nordstrom too?

HoustonHusky

AMC premarket up to $15 from $4...wonder which hedge fund has naked shorts on it?

Best post I saw on Twitter last night was someone saying the Occupy Wall Street crowd went about their protests all the wrong way...should have been doing this.

pawz

https://youtu.be/9ToOGrUQ7ME

PurpleThrobber

https://gab.com/SomeBitchIKnow/posts/105627409955175014

Some funny shit. Wall Streeters getting Wall Streeted.

Hate the game, not the players.

What would Bobby Axelrod do?

Dollar Bills, y'all.

HoustonHusky

Will be pure comedy we find out Wall Street legitimizing Bitcoin ends up tearing down big chunks of Wall Street with all the Bitcoin millionaires cashing out chunks of change to buy up GME, AMC, and such. Couldn't write a better script.

See a pretty good parallel to the political climate right there...(tug topic...)

HoustonHusky

https://twitter.com/thejimmalo/status/1354215473882099712?s=20

creepycoug

PurpleThrobber said:

https://gab.com/SomeBitchIKnow/posts/105627409955175014

Some funny shit. Wall Streeters getting Wall Streeted.

Hate the game, not the players.

What would Bobby Axelrod do?

Dollar Tubman $20 Bills, y'all.

FTFY. You're on the Finance board Throbber. $20 is the lowest currency denomination we? acknowledge.

Pitchfork51

Blockbuster is where the girls are at imo

NorthwestFresh

Pitchfork51 said:

Blockbuster is where the girls are at imo

I like the symbolic message of it being “GameStop.”

PurpleThrobber

creepycoug said:

PurpleThrobber said:

https://gab.com/SomeBitchIKnow/posts/105627409955175014

Some funny shit. Wall Streeters getting Wall Streeted.

Hate the game, not the players.

What would Bobby Axelrod do?

Dollar Tubman $20 Bills, y'all.

FTFY. You're on the Finance board Throbber. $20 is the lowest currency denomination we? acknowledge.

Oh, hellz no. @RaceBannon and I will fight you on that.

RaceBannon

Don't short poultry