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The New Coffee Room

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  3. The GameStop/Reddit thing is huge with the young folk

The GameStop/Reddit thing is huge with the young folk

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  • HoraceH Offline
    HoraceH Offline
    Horace
    wrote on last edited by Horace
    #5

    I remember stories from 25 years ago about teenagers posting to Usenet or whatever nascent forums might have existed at the time, doing pump and dumps. They made a lot of money and got to keep all of it, though somehow were convinced to stop. Apparently it wasn't technically illegal.

    Education is extremely important.

    1 Reply Last reply
    • George KG Offline
      George KG Offline
      George K
      wrote on last edited by
      #6

      "Now look here, you Baltic gas passer... " - Mik, 6/14/08

      The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

      1 Reply Last reply
      • jon-nycJ Online
        jon-nycJ Online
        jon-nyc
        wrote on last edited by
        #7

        BF39433F-432F-435D-A928-C320A21C8654.jpeg

        They’ll end up, after a lot of drama, with the same formula they use every time they have a trifecta: take away health care and food assistance from low income families and use the money to fund tax cuts for their donors.

        1 Reply Last reply
        • JollyJ Offline
          JollyJ Offline
          Jolly
          wrote on last edited by
          #8

          Hard to feel sympathy for hedge funds.

          “Cry havoc and let slip the DOGE of war!”

          Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

          LuFins DadL 1 Reply Last reply
          • JollyJ Jolly

            Hard to feel sympathy for hedge funds.

            LuFins DadL Offline
            LuFins DadL Offline
            LuFins Dad
            wrote on last edited by
            #9

            How the hell is Gamestop still at $325?

            The Brad

            L JollyJ 2 Replies Last reply
            • LuFins DadL LuFins Dad

              How the hell is Gamestop still at $325?

              L Offline
              L Offline
              Loki
              wrote on last edited by
              #10

              @lufins-dad said in The GameStop/Reddit thing is huge with the young folk:

              How the hell is Gamestop still at $325?

              The power of the mob who refuses to sell combined with a short squeeze. Your question is why I think this is an amazing phenomenon.

              1 Reply Last reply
              • George KG Offline
                George KG Offline
                George K
                wrote on last edited by
                #11

                Screen-Shot-2021-01-29-at-7.56.12-AM.png

                tc0mp6utd5e61.jpg

                Screen-Shot-2021-01-29-at-7.56.26-AM.png

                "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                1 Reply Last reply
                • LuFins DadL LuFins Dad

                  How the hell is Gamestop still at $325?

                  JollyJ Offline
                  JollyJ Offline
                  Jolly
                  wrote on last edited by
                  #12

                  @lufins-dad said in The GameStop/Reddit thing is huge with the young folk:

                  How the hell is Gamestop still at $325?

                  Greed.

                  “Cry havoc and let slip the DOGE of war!”

                  Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                  1 Reply Last reply
                  • 89th8 Offline
                    89th8 Offline
                    89th
                    wrote on last edited by
                    #13

                    It’ll crash back down to $5 eventually. Would love to short the stock now but the whole things far too risky...might as well go to the casino and play roulette for a few hours.

                    1 Reply Last reply
                    • jon-nycJ Online
                      jon-nycJ Online
                      jon-nyc
                      wrote on last edited by
                      #14

                      So this happened.

                      E73347EB-927D-4AEF-A9BA-661CD304A82B.jpeg

                      They’ll end up, after a lot of drama, with the same formula they use every time they have a trifecta: take away health care and food assistance from low income families and use the money to fund tax cuts for their donors.

                      1 Reply Last reply
                      • jon-nycJ Online
                        jon-nycJ Online
                        jon-nyc
                        wrote on last edited by
                        #15

                        And this.

                        https://www.tmz.com/2021/01/31/plane-flies-over-robinhood-hq-with-suck-my-nuts-banner-san-francisco/

                        They’ll end up, after a lot of drama, with the same formula they use every time they have a trifecta: take away health care and food assistance from low income families and use the money to fund tax cuts for their donors.

                        1 Reply Last reply
                        • L Offline
                          L Offline
                          Loki
                          wrote on last edited by Loki
                          #16

                          https://www.fool.com/investing/2021/01/31/the-worst-mistake-gamestop-investors-can-make-righ/

                          For a sense of scale, one single contract at $320 requires an investor to pony up $32,000 to buy the shares at expiration. At some point between market close on Friday Jan. 29 and market open on Monday Feb. 1, affected former GameStop options investors will wake up to find they are now GameStop shareholders. Not only are they now shareholders, but they are out tens of thousands or hundreds of thousands of dollars or more.

                          1 Reply Last reply
                          • jon-nycJ Online
                            jon-nycJ Online
                            jon-nyc
                            wrote on last edited by
                            #17

                            Squeezes like this rarely end well,

                            He spelled ‘never’ wrong.

                            They’ll end up, after a lot of drama, with the same formula they use every time they have a trifecta: take away health care and food assistance from low income families and use the money to fund tax cuts for their donors.

                            L 1 Reply Last reply
                            • jon-nycJ jon-nyc

                              Squeezes like this rarely end well,

                              He spelled ‘never’ wrong.

                              L Offline
                              L Offline
                              Loki
                              wrote on last edited by
                              #18

                              @jon-nyc said in The GameStop/Reddit thing is huge with the young folk:

                              Squeezes like this rarely end well,

                              He spelled ‘never’ wrong.

                              I suspect the 3 million kids bought options with their stimulus money for 320 not caring if they lost that. I doubt they can come up with 32k so it should be very interesting to see how this unwinds.

                              1 Reply Last reply
                              • jon-nycJ Online
                                jon-nycJ Online
                                jon-nyc
                                wrote on last edited by jon-nyc
                                #19

                                I don’t know what broker is offering margin to guys with small accounts unless they have other positions to cover it.

                                But I don’t really know what’s out there these days.

                                They’ll end up, after a lot of drama, with the same formula they use every time they have a trifecta: take away health care and food assistance from low income families and use the money to fund tax cuts for their donors.

                                1 Reply Last reply
                                • JollyJ Offline
                                  JollyJ Offline
                                  Jolly
                                  wrote on last edited by
                                  #20

                                  They've moved on to PMs. Specifically, silver.

                                  “Cry havoc and let slip the DOGE of war!”

                                  Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                                  1 Reply Last reply
                                  • jon-nycJ Online
                                    jon-nycJ Online
                                    jon-nyc
                                    wrote on last edited by
                                    #21

                                    Like the Hunt brothers.

                                    They’ll end up, after a lot of drama, with the same formula they use every time they have a trifecta: take away health care and food assistance from low income families and use the money to fund tax cuts for their donors.

                                    1 Reply Last reply
                                    • L Offline
                                      L Offline
                                      Loki
                                      wrote on last edited by
                                      #22

                                      Horace- how is your silver doing? Did you hold?

                                      HoraceH 1 Reply Last reply
                                      • L Loki

                                        Horace- how is your silver doing? Did you hold?

                                        HoraceH Offline
                                        HoraceH Offline
                                        Horace
                                        wrote on last edited by
                                        #23

                                        @loki said in The GameStop/Reddit thing is huge with the young folk:

                                        Horace- how is your silver doing? Did you hold?

                                        Currently up 100% from when I bought it. I don't have plans to sell, though.

                                        Education is extremely important.

                                        CopperC 1 Reply Last reply
                                        • HoraceH Horace

                                          @loki said in The GameStop/Reddit thing is huge with the young folk:

                                          Horace- how is your silver doing? Did you hold?

                                          Currently up 100% from when I bought it. I don't have plans to sell, though.

                                          CopperC Offline
                                          CopperC Offline
                                          Copper
                                          wrote on last edited by
                                          #24

                                          @horace said in The GameStop/Reddit thing is huge with the young folk:

                                          @loki said in The GameStop/Reddit thing is huge with the young folk:

                                          Horace- how is your silver doing? Did you hold?

                                          Currently up 100% from when I bought it. I don't have plans to sell, though.

                                          Nobody ever went broke counting on the kindness of strangers.

                                          1 Reply Last reply
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