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The Business and Financial ForumTHIS SPACE OPEN FOR ADVERTISEMENT. YOU SHOULD BE ADVERTISING HERE! Revscene Wall Street.
Consolidating debt? Good business tips? Buying stock? How's our economy doing? Discuss and share advice and tools on everyday banking, investing, wealth management and insurance.
Any tips or recommended reading/watching for a newbie learning the ropes about stocks? This GME, NOK and AMC are pretty exciting over the last few weeks.
Yeah I've noticed that I like practically everything he says on Twitter
If all CEOs had even a shred of his decency, the capitalist world would be a better place. Even if someone thinks $70K is too low of a salary for a CEO, just go for $150K or even $300K and let the rest of the company share the rest. Hell even cutting down to $1 million would be an improvement for many. How much money does one person even need?
Senator Elizabeth Warren: "The commission [SEC] must review recent market activity affecting GameStop and other companies, and act to ensure that markets reflect real value, rather than the highly leveraged bets of wealthy traders or those who seek to inflict financial damage on those traders”.
Love all the marketing being done by Citadel to push everyone into buying silver... literally countless articles all over my FB feed and Apple news etc. about how there's no silver left to buy and it's going to overtake any other investment... that's funny, Ben Moss and their like seem to be full of shitty jewelry made from it?
And they want to talk about market manipulation??? Take these fuckers down!
It is so blatant and fake, I can't believe they can get away with it. I said the same thing about Trump many times. They literally make up fiction and people just buy it up. HOW???
Some of the articles are so transparent about the fakeness of it all they even put WallStreetBets in quotations as if it's my 70 year old dad trying to sound cool using a word a 20 year old uses
Trading analytics firm S3 Partners' founder Ihor Dusaniwsky reported this morning that GME's short interest plunged, "short interest is just $8.82BN or 27.12M shares shorted" as the shares short have declined by a whopping 35.2 million shares over the last week.
According to S3, this represents 53.15% short interest of the % Float (or 34.1% using S3's version of SI % Float which excludes synthetic share). Shorting is now cheaper, the borrow fee has plunged from 26% to just 10%.
For those who got in on Friday, holding your breath about what will happen Monday, it's not good. Another correction day for GME ... noob investors, frat boys/girls, running out of money to prop it up. WSB can't get any more idiots to buy GME. If you got in early, it's time to bail. If you got in late ... just hope that it was $ you were ready to lose.
Company is still not worth its current price of $258/share.
Trading analytics firm S3 Partners' founder Ihor Dusaniwsky reported this morning that GME's short interest plunged, "short interest is just $8.82BN or 27.12M shares shorted" as the shares short have declined by a whopping 35.2 million shares over the last week.
According to S3, this represents 53.15% short interest of the % Float (or 34.1% using S3's version of SI % Float which excludes synthetic share). Shorting is now cheaper, the borrow fee has plunged from 26% to just 10%.
can you dumb this down for me?
- the number of shorted shares has decresed?
- the interest they're having to pay on shorted shares in decreased?
sounds like both of these is in the hedge funds favor somewhat reducing the WSB "power"
is the same happening for AMC? I just hoping everyone jumps out of GME and into AMC
Nothing has happened yet as far as I can tell ... Just some low volume orders picking off the panickers. The WSB freaks are still holding and buying the dips
If a real correction happens before the squeeze, the price should be like $20, not $250!
If I were looking to continue to put Vegas money on Gamestop, I'd say I like the downward direction more than up. But a naked short is pretty scary, if I am betting downwards, I'd likely prefer to buy put options. It's a far more binary outcome - you either win or lose (all of your investment), but at least the potential loss is limited to what you put into the options rather than an unlimited exposure of a short.
-Mark
__________________ I'm old now - boring street cars and sweet race cars.
- the number of shorted shares has decresed?
- the interest they're having to pay on shorted shares in decreased?
sounds like both of these is in the hedge funds favor somewhat reducing the WSB "power"
is the same happening for AMC? I just hoping everyone jumps out of GME and into AMC
Yes, the number of shares short has decreased dramatically. Brokers charge an interest rate for you to borrow shares to short-sell since shorting means you are selling a stock you don't own, therefore you need to borrow one to sell. The higher the market demand to short, indicated by short interest as % of shares floating, the higher the interest rate charged by brokers. Prior to this week, GME had an insane amount of short so the cost to maintain a short position was high on top of the price rally that was hurting the shorts. You are correct in your conclusion. Whoever is short GME now (I don't know if they are hedge funds), has a longer investment time horizon for their short positions to come to fruition. Those who are long, are now betting more on the fundamental business or the continued wsb frenzy rather than a short squeeze play.
I am not sure what is happening with AMC. The data on short interest etc. are proprietary and sold by trading analytic companies.
WSB was ALWAYS about making a fast buck (or tendies). But then the whole broker restriction/limitation happened, and then it became about sticking it to the establishment.
So much manipulation and misinformation about reddit in mainstream media now. I am seeing #biowar on yahoo now. I think they're going to try and run the name of reddit/WSB into the ground while they stand behind the scenes and profit from it. There are going to be so many pump & dumps, and they will blame reddit traders for all of it. The bagholders will take it hook, line, and sinker...
yeah i got out, lost some money for sure but nothing life changing.
still holding some bb but not gme anymore. just really can't picture anything happening like the whole internet getting rich at the same time. 240 may seem cheap rn, but it won't when the stock is even lower. had my chance to cash in a few times but when wsb becomes far too cultish over holding the stock, you gotta take a step back. good thing is there are plenty of good pandemic stocks out there and it's still a great buying opportunity in many sectors, so the money can be made back with relative certainty.
I bailed out on NAKD today. Lost some decent money, but it's okay, I knew the risk. Got caught up in the FOMO for sure and didn't do my DD, just listened to a rich friend with way more disposable income who had already made his profits by buying in a week ago and followed his lead to my detriment.
Still holding some GME, AMC and NOK.
I feel like that asian lady about to change lanes. Good luck everybody else!
I bailed out on NAKD today. Lost some decent money, but it's okay, I knew the risk. Got caught up in the FOMO for sure and didn't do my DD, just listened to a rich friend with way more disposable income who had already made his profits by buying in a week ago and followed his lead to my detriment.
Still holding some GME, AMC and NOK.
I feel like that asian lady about to change lanes. Good luck everybody else!
The manipulation is just laughable. I'm pretty certain if the brokerages didn't shutdown retail buying on Thursday, this would have squeezed far above $500. Big money always win. It's quite disheartening.
After seeing how #silversqueeze was trending over the weekend, I exited 98% of my position this morning. Grateful to have been in this early. Won't retire, but life is a little bit easier.
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