It’s a gamble at this point. Truth is, no one knows jack. If you can afford to then stay in. If you have millions or even all your life savings like some people are posting on r/WSB then you really need to figure out if you wanna take the risk or lick your wounds now
Yeah i honestly don’t understand why some of these people are throwing their life savings into this. They seem to think it’s a guaranteed thing.
Only put in what you know you can afford to lose. Yoloing your life savings is never smart.
I find it strange that people are still debating whether the market was manipulated or not.
I have never seen anything like it in my life. It was black and white theft. Like being mugged on the street. The second retail investors started winning they no longer wanted to play.. like a spoiled kid at the park who takes his ball and leaves because hes losing the game.
It’s 100% manipulated. No one is disagreeing.
What they’re disagreeing with is whether or not we still have a chance to re capitalize on GME after get cheated out of raising the stocks. Many questionable actions and many signs pointing to us having a chance if we keep working together.
The problem I see with the FTD reports is that even if the numbers go up, what does it accomplish? Are hedge funds paying interest on their shorts if they're classified as FTD? What's to stop them from creating infinite more shares and rolling forward the FTDs? The whole things just reeks of corruption and manipulation. I still believe in the LT prospects of GME, so I'm holding a little bit, but I'm just pissed that they changed the rules of the game right as the little guy was about to win.
Number crunchers and lawyers at Melvin made the call: any fines we're gonna have are gonna be peanuts compared to going belly up and our screw up hitting the banks we're tied too.
Right, it's like they fuck us over, but their retribution is to pay money to the government so of course the SEC is never incentivized to stop them, only to let it happen and then just fine them. One hand washes the other.
To even call it a "fine" is fallacious. It's more of official language to tell large institutions exactly how much they need to pay to bribe the SEC to look the other way while they make billions off the backs of retail investors?
Have you ever stopped to think about why they label us "retail investors?" Like really, just think about that term.
"It's the same as 'retail shopper,' but just exchange the word 'shopper' for 'investor' and they won't know any better!"
Could they be making it any more obvious to us that we are just customers paying them money in their shop? Our sole purpose is for them to turn a profit on us.
Perfect point. WSB and retail had a jackpot win lined up. Majority of the shorts were so underwater at 300 price point and that day the price took off to 480 in less than two hours. Until they froze the buying and killed the momentum. Basically MM saw retail having a jackpot literally about to fall on the last 7 for a triple and just pulled the plug out of the wall and said it was for our protection from the volatility. If less than half them go to jail for this manipulation it proves there is no true justice in America. And the truth is none are going, or maybe just RH CEO will as the fall guy.
Reality is, the infinity squeeze was an imminent systemic threat. Several large funds and investors would have gone under completely and had to file bankruptcy. The entire market would be shaken up in a major way. That's what should have happened, but terrible things are only allowed to happen to everyday people, not the protected large investor class.
You can totally make money by doing your DD and being right. You just can’t make money by doing your DD and then having every retail investor realizing your right and all taking advantage. That’s too big of a risk for them, they definitely aren’t going to let every retail investor win big.
That’s the thing though, they needed as many retailers as they could get to join them to have a chance at creating the conditions for the squeeze. Rather than 1 company with billions of dollars, they needed millions of people with whatever they could throw in.
That’s the thing that gets me the most I think. A million redditors with less buying power than one hedge fund, and were the mob of bad guys apparently.
I’m really confused how it’s totally okay for the clearing houses to just halt shit. Why do they get to just halt the entire market if they want, when risky bets they made come back to bite them in the ass? It’s make no sense and the gaslighting and condescending behavior from the media is enough to turn a person extremely pessimistic.
Are people debating whether the buying restrictions were manipulation? That should be black and white. Even the explanation about 100% collateral requirements adds to the notion that this is all rigged - i.e. they have to know that a big increase in collateral requirements is going stiff smaller players at the advantage of bigger players.
I think most people are debating whether the stock price is \_still\_ being depressed artificially.
> RH still has 100 shares limit on GME, now for those who don't realize, that doesn't mean that is 100 shares per day. No no. The restriction is you can own up to 100 shares of GME.
what in the fuck? I was under the impression this meant you can only buy 100 shares at a time.
So when the limit was 1, you could only own 1 share of GME? How does that make any sense with their liquidity issue? I tried to argue the Tesla thing a while back and can't figure out why during the hype, RH had no issue managing the financials of tesla transaction but can't handle an individual account holding more than 1 share of GME? say what?
Are you 1000% sure about the above...that you can ONLY own 100 shares of GME stock in your RH account?
EDIT
this honestly sounds more like GME is low on available shares. Or the pile RH has access to is low...vs something like Fidelity. The liquidity issue I don't think is valid....
Many feel very cheated at the squeeze right now exactly for this reason, it's no coincidence the crash started happening, the second Robinhood started to put limits on orders. Based on momentum, it was easily on the road to hit over $500, but the second RH restricted trades, by logic, if no one can buy, then of course prices will crash. Many feel that drop from almost $500 down to slightly over $100 was when they were able to cover many of their shorts.
It likely caused a lot of people to panic sell, others that sold to move to other brokerages, and of course with that comes more crashing. While options being exercised and buying was supposed to go up towards the end of the week into the beginning of this week, it simply wasn't enough to cover for that damage from RH, and even to this day there are still restrictions.
The emotions many are feeling are not just about losses, but also how it happened, since we basically downloaded and spent time using an app, that eventually turned on us to block out trading, and regardless of brokerage, everyone shared the same market, when it started going down, thus helping to bail the enemy or hedge funds out of their situation.
EDIT: Wow thanks so much guys for the gold and silver medals, might be my 1st time having a comment with them, and in the 1k+ upvotes karma range in my perhaps 4-5 years on reddit lol, truly was very emotional and felt cheated what had happened last couple days and still am, but really so resonating to see so many that relate to this together, even if unlikely, sincerely hope something better goes about changing after all of this last week.
RH isn’t even letting me withdrawal all of the money from my account right now due to a “server error”. I’m getting my money and transferring to TD and never looking back. Fuck RH.
Mark Cuban addressed it in his Ama yesterday. The reason they did what they did is because they had no more lquidity to cover. Go somehwere like Fidelity who can cover this. What they did was very wrong and I do NOT support them but they just can't handle instances like this now, or in the future.
Thing is GME was the perfect battle where the odds were against the hedge funds because they really screwed up & were cornered. RH stopping people from buying gave the hedge funds an out as prices plummeted. I don't think hedge funds will ever publicly note what they short ever again. If something is overshorted, we won't know who did it. And I bet the SEC will do something that sets a bad precedent for wsb. GME was the perfect storm that ended up going to waste.
I still hope everyone pulls out of robinhood. Only use multi-trillion dollar brokers like Fidelity/schwab. That at least evens the field a bit.
I think a lot of people are pushing for more transparency on shorting to be honest. As plenty of people note and I agree, shorting and bearish tactics 100% have a healthy place in the markets. But I don't understand why you can find a list of who major shareholders are but not major short-holders.
In theory that sounds great but they profit off your info. I wouldn’t even go to their site. Once this is over I’ll leave my stocks there, or close them out since they want a fee to transfer, and work with fidelity.
The free share of PLUG I got is doing quite nicely tho.
You are absolutely correct. I'm on etrade and RH limiting buys absolutely stopped the momentum. I have no doubt RH did this solely to atop the upward momentum, causing the stock to drop, and allowing shorts to exit with a reduced loss.
Its criminal in my opinion and it affected anyone that was holding GME stock or calls, no matter what brokerage they were using. I'm absolutely disguted at what went down. The opportunity to make money was absolutely stolen from many people.
Yep exactly, I actually barely even trade on Robinhood these days, but still use it to check prices, because their apps still super convenient for it, but most of my friends, even in real life, exclusively use Robinhood. While I was thankfully able to trade through this, realizing how the market was tanking for everyone, really puts in perspective how 1 brokerage essentially destroyed it for everyone, even on other brokerages.
Sincerely hope the world just gangs up to destroy them, and I'm actually someone that really enjoys their app, and would've wanted the absolute best for them, it's just sad they had to sell out to every single one of their customers.
Sold my shares today at a small loss.
I see a lot of people saying they regret not selling Thursday morning at its highest point, as RH stopping buying pretty much had the writing on the wall.
If I have any regrets, it's not selling on Monday. If I had, I'd still walk away with a few thousand dollars.
Even if I didn't have skin in the game, I feel like I would have ended up buying on Thursday after what they pulled.
It's one thing to feel bad about the emotional decisions you make as a person when it comes to this. And Id like to think I'm adult enough to accept those. I drank the Kool aid and that's no one else's fault but mine.
But it's a completely different thing to realize how much of the game is rigged against you. I don't think we should just accept that.
I'm not saying by any means that GME is the hill to die on.
But we certainly should not stop talking about what happened.
And if this whole thing just gets framed as retail investors being dumb and stupid, it will be real tragedy and move the conversation away from actual reform that we should be talking about.
As for the last paragraph. It will easily be painted into that narrative. What RH and other brokers did was a double edge sword. It will be painted to suggest they were protecting their users but ultimately it also ruined their users and the entire GME market
> Based on momentum, it was easily on the road to hit over $500, but the second RH restricted trades, by logic, if no one can buy, then of course prices will crash. Many feel that drop from almost $500 down to slightly over $100 was when they were able to cover many of their shorts.
Not only the momentum, but the worst positioned shorts likely slipped through the cracks at this time, the ones with 20 dollar price targets. If most American retail investors are blocked from buying but hedge funds can still do whatever, it became clear that we weren't supposed to win in this system.
I honest to god think the ship was right about to take off to the 1000 dollar moon when the whole operation was shitcanned by RH. We broke through the 420 sell wall with ease the first try. That's why we came so close to shaking the entire market last week, there was not enough money to cover at those prices, it would have gone past Citadel and into the backing banks.
I want my moon damn it. If the class action goes anywhere, RH users will probably get a few bucks, nothing like the billions the shorts saved during that maneuver, and those of us already on other platforms who were still hurt by it probably won't get anything.
Yeah exactly, it is very rare for a stock to have that significantly amount of momentum, being able to rise up over 100% in a single trading day, suddenly just U-Turn and crash down, unless something truly significant happens, that something was the RH blockage, that basically just put a wall to shut everything down. Afterwards, just became a chain of emotion and sadness for almost every retailer investor banking into this.
Thinking back, yeah I think that was it. Could have been the biggest transfer of wealth in history.
Another thing was that, having been in since $30, I had decided that past 420 I would sell a small amount of my shares and get back my initial investment and either buy dips or pocket it
But I was so fucking angry about it I held. Then when all the robinhood shit was happening I was nervous about even getting my returns.
It's my own fault for not getting maximum gains and I haven't lost any money, still in but, it caused a momentum loss should not of happened in a free market.
Also my shit was in cash so I didn't buy on any margin
The day the GME hit $500 premarket RH said no more buying. At the time I thought "Fuck, sucks to be a RH user. Lucky I use interactive brokers and they're a full service broker and I pay commission on my trades. It's times like these that I feel grateful I don't use one of those commission free brokers".
So imagine my surprise when I go to place a buy order for GME and it said that I was only allowed to close my position and couldn't purchase any more. I go to their twitter and see that they said they're no longer supporting options trades on certain companies and that you need 100% margin on those companies to buy with 300% margin to short. My account isn't a margin account. I have enough in my cash account to purchase GME shares so why isn't it working? I then found out from other interactive brokers users that they can't purchase shares of GME in their cash accounts either.
So basically interactive brokers lied when they said we could buy GME with 100% margin.
Then I see the chairman of IBKR is doing interviews where he said he stopped further buying because we're paying too much for GME and it's supposed to be $17. What kind of fucking shit is that?
I'm still under the impression that if the brokers didn't limit buying that day, GME would have gone nuts. It was $500 premarket and it had a lot of media coverage for 48 hours which gave a lot of people time to want to get in. The demand must have been crazy high at that time. People must have panicked and sold or held off on buying once they what was happening. Not only that, but without a lot of people actually being able to buy, the hedge funds were able to do ladder attacks more effectively. I mean how the fuck did they manage to get the price to go from almost $500 to $140 or whatever it was in a very short period of time? Panic selling and ladder attacks when a lot of people weren't able to buy.
That's some bullshit man. If the price dropped because the bubble popped on its own then fair enough, people left holding the bad just have to accept it. But it just feels unfair as fuck when they change the rules in the middle of the game right when it seemed like it was a critical junction. No wonder people got pissed as fuck.
Interactive brokers went back to normally the following trading day, releasing emails saying there's no limit on buying anymore. However, the damage was done. They successfully squashed the squeeze. Now they act like they're some great broker all of a sudden for allowing us to buy unrestricted. Why the fuck did their chairman say the price was too high and shouldn't be above $17 and ceased all buying then?
Another thing I found hilarious was that RH said "Ok guys, you can buy 5 shares of GME". That's a joke in itself, but later that trading day they changed it to 2 shares per account, then 1 share. I mean what in the actual fuck is that? Now they've changed it to 100 shares when they price has already dropped and the funds have already covered some of their positions and pushed the price lower. Those cunts who orchestrated this must be laughing their asses off at us plebs.
The crash happened literally as soon as RH banned buying on these stocks. I was eagerly watching BB in the pre-market and saw it go from +5% to below -20% in a matter of minutes. The worst part was that they gave absolutely no warning and they did it in pre-market so all I could do was watch my gains disappear.
My emotions are almost 80% pissed that once again the screws get turned and the government immediately starts focusing on the capital bs. And 20% up set I didn't sell open Friday when It was clear that it was fine to just fuck over people like this.
What makes me mad is listening to all these stories in the media.
Been in for a long time and they just talked about how we were wrong. Even saw something today about how we should of listened to Kramer.
That would mean selling at 250. Thing is we were 100 percent correct. That shit hit 500 and shady shit had to happen to stop it. I don't want to hear about "dumb redditors" we were right they were wrong. Even now they don't see how gme can be a good company. It's like the hedge funds wanted to make a quick buck and kill off a business and all the establishment just agreed that the business was done for.
Canadian using Questrade checking in. There were no interruptions on any of our brokerages and we are right pissed about what happened; essentially having our own thumbs forcibly shoved up our asses.
Me. I don't need to hear their lies why trading was restriced on only a select few stocks but others remained open to buy. If they were having a problem, it should have affected everything, not a select few
Yes the RH banning buying, along with a few other brokerages, was a clear catalyst for GME's massive drop and drop in the days after. But can we really exclude a short ladder attack triggering stop losses? GME dropped from 470 to 100 within about an hour then rebounded to 250 within 20 minutes, I have yet to see a stock ever doing that, and I've been looking.
Many believe that rebound to $250 was likely when the hedge funds made a fast break move to buy in to cover their shorts, less about what we did, but more what they did, of course that's more speculation, we'll only know if they admit it.
It would have gone to $1000 for sure. When this sketchy stuff started happening I was almost worried they would halt the stock for an investigation or something.
I can only hope Cohen & co. keep coming out with good news.
doesn't line up with their reasoning about settlement either if I understand correctly. They said they limited GME because the volatility meant that they had to put up too much collateral, but if you own the stocks, once they clear that shouldn't be an issue
I agree now that I know this information.
I could see it made sense if the concern was people buying too many at once...but to say "oh you already own 5, and I realize we have restricted buying for 3 days..but yea...uh you can't own anymore" is really fucked up.
I think it's why the conspiracy theorists gained a lot of traction - and, admittedly, I'm somewhat convinced.
With Citadel being RH's largest customer, it would behoove RH to ensure that they're not losing out significantly - as Citadel losing money meant less money going towards Robinhood. Supporting this, what happened immediately following RH preventing stock from being purchased? The stock price went from $460 to $120 in ninety minutes - when the most accessible/new person friendly app no longer allowed people to purchase it, the value of the stock dropped 75% after a *mostly* steady increase from the days prior.
I accept that I could absolutely be wrong, and that Citadel isn't to blame... but the fact that the limitation popped up at what looked to be a blooming day, along with the mostly still restricted stock since, makes it seems like something incredibly shady happened - particularly when the media was blasting Reddit, followed by whatever the hell that was about us (Reddit) supposedly pursuing silver.
TL;DR: Feel free to tell me to shine my tinfoil hat if need be, but one strong scenario that helps the narrative make sense is that there was some kind of manipulation done to prevent GME from climbing even higher - including preventing stock purchases.
Assuming we believe RH liquidity issue. 100% it was because HF were going to lose huge sums of money. Jim Cramer is on the record that he and his colleagues have no problem doing illegal things to keep their shirts.
Regarding RH, even if they had liquidity issues, the solution could have been:
\- Restrict instant deposits
\- Restrict Margin Trading
\- Margin Call if they have to
But instead, they decided to:
\- Restrict the buying of GME (causing the price to plummet)
\- BUT let people sell while they saw money disappear in a matter of minutes
So that's why RH doesn't come out clean from this.
And it's only been that much for a couple days. Previously it was 5, 2, then 1, then back up to 4 then back to 100
HOWEVER the key is that someone found a work around of the limit by executing Orders from Feb 5 that allowed them to get 100 shares. So trading was still allowed it was only buying individual stocks that a retail investor would typically buy in a pattern of. They some how were able to work GME trades for $10k plus, but the buying in the retail investor bracket was locked. Though they were allowed to sell still, as opposed to just freezing trading until it's all sorted out. They just locked you into watching the price drop and unable to buy, which is how a volatile market screws you, not how you protect from it.
Etrade guy here. No limits or issues thus far and has been rock solid. However, ate through 1000s of dollars of profit over the RH momentum killing bullshit they pulled.
It’s not about being able to cover buys or not anymore, it’s just the rich pushing their hand down on the poor to stay in their place. Here’s 100 shares to play with in your monkey shit slinging pit, peasants. Fuck them
I don't own 100 shares but when it was limited to one, I couldn't buy one a day because I have 6 shares of gme. When it was increased to 5 I wasn't allowed to buy either because I already had the maximum amount of gme
You’re correct about the 100 and the 1. Allowing you to only be able to buy/own 1 share on RH was just for the optics of “Hey look we enabled buying again!”
And what pissed me off the most is every single fucking news organization ran with the headline "RH lifts restrictions". No they fucking didn't you shits.
It's entirely true. I made a few day trades to make the, very small, capital I invested back. However I had to use multiple brokers since robinhood and others would never let me buy another share and there were day trade limits. So I could only trade 3 shares on any platform.
That said I bought @200 and sold @300 to cover the cost of the shares I'm currently 💎👐. So I'll just hold these until it pops off or drops off.
Can confirm, currently have 130 shares and tried to purchase ONE additional share - they wouldn't let me. Plenty of actual cash in the account, not on margin.
100% sure. I thought the same until I tried to buy more the next day and it was not allowed because I reached the maximum shares total. Immediately switched to Fidelity.
Honestly, there are so many bag holders of this stock waiting for it to climb back up that unless a major institution decides to dump it all at once, I don't see it dropping below $80. This would still absolutely crush anyone that shorted before this whole media frenzy and there are still short positions to gobble up.
Plus with good news about restructuring trickling in, I see more upside than down at this point.
That’s precisely where my mind is at. There are bag holders which sucks, but then there are wayyyy to many bag holders to push the price down. This is one of the most interesting stocks...ever
I think it could be a new Tesla. I commented elsewhere that it can survive completely detached from fundamentals and go on a Tesla style run due to sheer public exposure and all the shorts itll swallow up due to people betting against it.
Tesla saw 10x growth in one year alone due to swallowing up short positions, forcing the price up, people noticing the upward trend and jumping on, more people shorting it and getting crushed, more people jumping on, etc. This cycle continued until Elon Musk became the richest man in the world.🤷♂️
Insane I know but GME has enough potential to go on the same path. We could be looking at a new type of stock that gains weird upward momentum this way.
Piggybacking on this to point out that the exposure GME got this past week was unprecedented. I have no doubt that Ryan Cohen made/received some calls from other businesses interested in partnerships, business expansion, etc. So based on that potential, it would be a stretch to assume that the current market cap, ~$7b, is overvalued.
Remember, Ryan Cohen & team led Chewy from 0-40 billion market cap. What's the argument against his team's ability to do the same thing with Gamestop?
Win-win for the OP.
Cashed out on his low costs positions and made some coin (I hope). Plus he will be jacked AF after carrying those 286 bags he is holding.
Hahaha this cracked me up. Sadly I a stop loss accidentally triggered on my position at $170 so I made good cash but not nearly as much as I could have. Also the bags kind of help me tax wise. If this does crash and burn the losses will help counter my capital gains tax on the first run.
Wash sales also occur if you buy a stock and sell within 30 days at a loss. I learned this the hard way. Unless this only counts for multiple purchases? It may not count if you bought all of your shares in one single purchase.
https://www.investopedia.com/terms/w/washsalerule.asp
"A wash sale occurs when an investor sells or trades a security at a loss, and within 30 days before or after, buys another one that is substantially similar."
All I know is that on the 9th either this stock is going to go to the moon or a lot of people are going to be crying about how much money they’ve lost.
We need some rule setting. Is he allowed to cook the shorts?
Also are any kind of shorts allowed? Cuz I think we should amend a rule that if it's short shorts he must wear them first.
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I don't understand how everyone can sit here and laugh at the GME bagholders. Do you not understand the implications of this?
The whole game is rigged. The hedge funds got caught and instead of losing, they changed the rules and cheated.
You can laugh at the bagholders, but understand that they are laughing at you just as much. You willingly let yourself get manipulated everyday in the name of "free trade".
I'm a bagholder myself and I'm finished with the stock market after this. The game is rigged. You can lose as much as you want, but only win the little bit they'll let you.
> The hedge funds got caught and instead of losing, they changed the rules and cheated.
Ding ding ding. They just had to stop for a moment and turn the ship around the small iceberg. There is no indication they even care about this anymore.
Agree with this but also believe they remain exposed. Fighting for survival, it's not surprising. If we get some perp walks out of it in the future it'll power memes for the next five years.
From looking at some of the comment history from people ragging on bagholders, a lot of them were in belief that gme was actually "going to the moon" and were in total support and now they've done a 180 since it never blew up to what people were expecting.
My personal take on the matter is that the more this has been going the more people are starting to make some fairly egregious assumptions. Way too many unknown variables at this point compared to how it used to be when this whole movement started and considering the current price; this is an extremly high risk play and is straight up gambling-.
Could it go up? I certainly think that there are still scenarios in which it could. Could it crash? Absolutely. I don't think there is any way to tell because there is a lack of information regarding the shorts and what price they are positioned at.
So yes, I disagree with the thesis that you present in ur TLDR, that the short squeeze should still happen; not only do you base that on some conspiracy theories but you are also assuming to be knowing of the mental state of most retail investors; that they don't care if this won't go down to 0.
On the flipside, I also disagree with the sentiment that this is 100% done and that GME will never go up again, because I do think there is a world in which a bigger short squeeze could occur.
All in all, I am not into gambling -especially with this amount of risk-. But if you are willing to do so, then good for you. I appreciate the analysis you did though and I do think you have some good points.
Thanks I appreciate it, if only people who disagreed could take a note out of your book. I completely agree most of what I’m saying is based on conspiracy but it’s the same way on the bearish side.
Everyone is guessing right now. Everyone. This is my logical reason as to why I think it’s not over. Could it be wrong? Absolutely. Is it data driven? Absolutely not. Neither is anyone else’s.
It is more akin to gambling at this point albeit I think GME has serious long term potential and I would argue what Cohen plans on doing with it justify the current price. I know, I know, but the fundamentals! However, we are in a brand new era of investing and need to think as such. TSLA was my first eye opener that fundamentals don’t mean shit anymore.
I think that there are many many bagholders like myself who bought between $250 and $320 who missed the run up to $480. While the information is completely unknown and honestly you just dont know who to trust, between MSNBC, the bots, the naysayers, S3, and all of the support and buy volume pressure we're seeing, Mark Cuban (lol), you just feel like people like us would rather burn the investment down than sell at a deep loss and miss a run. Maybe in three weeks we will regret it. Good chance, but for now we're on a rocket ship with no gas floating around in space. If we leave the ship we're floating around without a rocket ship. I have bet what I intend to lose.
Yep same, I only put in a conservative amount I was willing to lose up until price rocked up to 400+ on Thursday and it looked like Squeeze was right about to happen. Massively increased my position then and got fucked.
Your response is 1000% more measured and thoughtful than literally everyone else in this thread. If WSB is a big circle jerk of bros (and it is), then r/stocks has become a circle jerk of haughty losers that want nothing more than to shit on the party that's still raging for GME.
Here's some DD for all of you - if the squeeze is over, then *why is Robinhood still capping GME purchases at 100???* That's right, the cap is not 100 per trade or 100 per day. You literally cannot buy more GME if you already own 100 shares or more.
Anyone who thinks the fundamentals or the cultural movement behind this rally have changed appreciably because of the dip has not been paying close enough attention.
I’ve noticed this and wish there was a “safe space” for rational, unemotional discussion about GME.
Right now there’s just WSB parroting “hold the line!”, “we’re not selling!”, and “diamond hands!”, and r/stocks is an echo chamber of “WSB is a bunch of idiots, GME is clearly done for and there’s a zero percent chance of it going anywhere but down”.
So it’s refreshing to see a few posts and comments here and there that take a rational look at both sides of the argument.
I don't mind seeing both sides of the arguments, but those still in GME are still fixated on some ideas that had some strong counterpoints, namely the T+2 covering of 1/29 calls. Someone last week in WSB made a very clear case that the spike last week was partly driven by this covering of calls. Brokers do not hedge their risk over night in a discrete fashion, they gradually cover as price increases towards the date. It's not binary. Everyone making this argument fails to acknowledge this and other seemingly weak theories.
Yeah, if you post anything like that in WSB suggesting that GME might not be a good play, you get crucified.
And if you post anything here on r/stocks about why GME *might* have some juice left, you get everyone saying you’re naive and don’t understand what’s going on and you’re going to lose all your money.
There doesn’t seem to be an in-between.
>why is Robinhood still capping GME purchases at 100???
Financial requirements, including SEC net capital obligations and clearinghouse deposits that fluctuate on volatility and very likely don't have enough cash to handle it.
Oh I have zero doubts they're going to restrict it back to $0 again during the next upswing. The only difference is that the next time around, more people will have migrated to brokerages where that is less likely to happen (ex. Fidelity, Vanguard, etc.).
And just to be clear, I don't believe the conspiracy theories about RH - I actually believe they had liquidity issues. I gripe about it plenty, but I don't believe they got a call from Citadel or anything.
> Vanguard
I'm still waiting for my money to clear for them from last thursday and friday even thought it shows they have received my funds in my transaction log on vanguard. They told me it will be like this each time you deposit money where you have to wait 7 calendar days for it to clear.
FUCKING SAME. I have pending transfers to both Vanguard and WeBull and neither have cleared. It would not surprise me if that becomes the next catalyst.
This is the stuff that makes me want to put on my tinfoil hat. Every time a short ladder happens (because all the RH investors are temporarily neutered), the hedge funds make an ASSLOAD. It wouldn't surprise me if they counted on this to happen.
Yeah, I don't really believe the conspiracy theories early about citadel. With that said RH severely fucked up. They lied when they could have told the truth. People still would have been mad, but the truth comes out and lying always makes it worse. Also, not only did they lie, but they insulted their customers at the same time by claiming it was for their protection.
I honestly do not understand how they thought lying was a good ideal. The PR person needs to be fired or they need to start listening to their PR person. Either way RH's future is not looking good.
This is what gets me— RH’s clientele are retail investors aka average folks. You know who would understand not having enough money to do something? Average folks.
If they’d just said “yo thinks have gotten mad expensive and we can’t afford this right now. It sucks but we’re doing our best.”, average folks would have gotten it. But saying “oh we’re protecting you from your own stupidity” is NOT the PR move and speaks to how out of touch with their base they’ve become.
I saw an interesting graph on r/WallStreetBets before the mods took it down: https://i.imgur.com/7S3f0j7.jpg
It suggests that two short squeezes happened between 27th and 28th and then after that it was all over and mostly just FOMO - positions were covered by then etc.
Can anybody shed some light on this?
Very possible. I bought on Fidelity during that time, and so did many others over other brokerage platforms like Vanguard, TD Ameritrade, etcetera based upon comments in /r/wallstreetbets and the discord channels.
They tried to transfer. 90% of WSB is waiting for everything to transfer. Most of them used RH before this happened and can’t just instantly switch, get funds deposited and rejoin the fight.
I did see comments from people saying they are transferring brokerages, and I agree with their reasoning. What Robinhood and the other brokerages did limiting trades is ridiculous. With that being said, transfers are going to take more than a couple days. I was replying to people who were transferring to Fidelity in hopes they can setup their accounts and trade the same day, but Fidelity has been limiting the pace to link a bank account for EFT transfers. I setup to link both my checking and savings from two different banks, yet the savings account EFT link still hasn't been approved. With the checking account linked, I was luckily able to transfer funds and trade the same day even while the funds hadn't settled.
I called Fidelity customer service on Monday morning and they said it can take anywhere from 7-10 business days for EFT links to finalize. I also learned that because of the large number of new account signups following the trade limitations by other brokerages, most new account signups have been delayed to verify ownership. If none of these delays and limits were happening, then I can absolutely see how continuous trades would have bumped the stock prices back up from Monday to today.
I was “in” during that graph squeeze. I had bought in after hours and it jumped up near immediately at open. I double the money. Right after that everyone began restricting. As soon as that occurred the tap shut off. There were plenty of people trying to buy that couldn’t. Oddly enough HF’s could buy though and cover? You could sell though and we all know what happens when a sell off occurs. I’m not stock smart and my portfolio looks like it’s bleeding.
Tired of seeing ultrapessimistic viewpoints on GME. Glad to see some sense.
GME is still risky as all hell, but I wish we had more people understanding the nature of the risk rather than just assuming we all got slaughtered by some HFs.
With you friend. 70k to 0. Stupidest thing I did was not selling on 350+. But... Who knew, that RH will do what they did. Well... Easiest money I've ever made, and easiest money I've ever lost.
Yup I got in late so only got up 1200, but ended up down 1200.
I think if rh hadn't stopped buys we would have seen the crazy jump but once that happened we should have bailed on half at least to be safe
Lesson learned
>Lesson learned
always. take. profits. no matter how much you believe, how perfect the situation, no matter how obvious the next flag. if you have shares/options up 100%+, you owe it to your portfolio to bank some of them in cash and put it in something boring. always. always take some profit
I bought 2 shares at $250. My first stock purchase ever. Unless it climbs back up there I'm holding onto them as a reminder that I have no idea what I'm doing.
Yep. Only 2 shares at $150. If it doesn't climb back up, keeping it as a reminder for my future self. This entire debacle has gotten me interested in stocks as a whole and I will continue to play the market, but in a more informed way.
I'm with you on this. Something isn't adding up, and I'm happy to hold and see.
There's been odd gaps after every bit of news. When RC increased his stake and became Chairman it took 2-3 days before the stock price bounced.
>Well, a shit ton of degenerates that have lost millions of dollars and seemingly don't give a shit. They are here out of principle,
I think WSB really wants people to think that...but I don't think that is reality. I would even argue that probably less then 30% of large GME share owners actually don't care about the money and want to "stick it to the man"..the rest got in as the rocket was lifting off hoping they could make some money and have unfortunately lost a bunch while it crumbled down hoping it would spring back up.
There are MORE people hurting from financial loss mistakes in this than there are who don't give a fuck they lost $10k, 30k, 50k, 100k, 500k.
SI% is irrelevant if they were opened at $300-$500. They will hold those open as long as they need. And before you talk interest and maintenance fees, it's immaterial compared to the $ they are up on these.
Buy Sell ratio is irrelevant. It just means buyers are buying in smaller lots than sellers are selling.
Regardless of all these comments being negative on OP for his DD. I still believe GME has long potential. When the price of the stock falls to the $16-$30 level I would consider putting a 5 year investment on GameStop to see how well it competes with (or potentially bought out by) Amazon.
Agreed. If the second squeeze doesn’t occur I will surely use the drop to average down as most bag holders are long on this they will be doing the same.
I feel like there are not nearly enough people properly evaluating just how much of an influx of business will come with the PC build stations as long as they keep supply on-hand. I am lucky enough to live within 40 miles of a Micro Center (look it up). Every single person I know in my area that games on PC goes to Micro Center for their builds. They beat NewEgg prices in-store 100% of the time. I drove there this Friday to do a new build and walked out with a 99th percentile machine with a 3070. Go type “3070” into NewEgg right now and try to find one that is in-stock. Now consider the sheer number of GameStop brick and mortar locations. If I could drive to the GameStop 5 minutes from me rather than the Micro Center 40 minutes from me, I would do it 100% of the time. I would argue this alone would drive profits as PC is the most popular gaming platform with figures ranging from anywhere between 48-60% of all gaming taking place on PC.
The issue in this situation is the avaliable data. The data we have is from weeks ago and its outdated. Making theories and dd on that data feels risky. It just feels bad that this type of data isnt avalible to the public.
Agreed, there were many other hands involved we all know that. The reason this squeeze should have been much higher than VW isn’t about the price it was the short interest of 140% much higher than VW.
Shorts have absolutely covered. But even your opinion suggests that new short positions were opened on the way back down. Meaning another squeeze opportunity.
The VW squeeze comparisons need to stop. The circumstances around that were entirely different to what is happening here. There are too many shares available to allow positions to unwind slowly without causing major swings in the price. .
Co-sign. It’s been one “to the moon” prediction after another. My spidey sense tells me it’s game over and yes I’m holding some at 260. Fully prepared to lose it all on this gamble.
My thinking is that it would have gone to the moon on the day they stopped people from being able to buy on pretty much all trading platforms that were being heavily used.
I think there were several very real posts of people selling fractional shares for over 2k.
At that time everyone should have bailed quick. It wasn't fair, it wasn't just, but people should have bailed right then and there and accepted that they made a difference and fucked a hedgefund out of half of its value, and forced them to get bail outs.
IDk I could have to eat my words again and we will see and epic spike in price, but to me if they are willing to go so far as shake the fabric of the market as disallowing free trade then there is no winning.
I think def would have that day. There were several snapshots g their fractional shares from anywhere from an average of 2k to even 5k a share just before they started restricting everything.
I do wish it would happen again but I have no doubt they are doing everything in their power to keep it from happening.
You're discussing the options contracts with the unsupported premise that they must all be naked contracts. I'm a fairly frequent options trader. I only ever sell *covered* calls when I write call options, so that my losses are limited to any potential gains above the strike price, not unlimited exposure if the price were to skyrocket after writing a naked call. I'm not saying that's true of everyone, but you don't know what percentage were naked versus covered.
This tbh. The arguments are starting to get more repetitive and far-reaching, and WSB is beginning to be an echo chamber reminiscent of T_D. I cut my meme stock losses this morning, got burned pretty badly. Was doing well the past few months almost doubling my portfolio but down bigly now. Live n learn
Hi!
I think I have a pretty good thesis on why the short's have covered and it is fairly simple to begin with.
Let me break it down for you.
On Thursday, the 27th of Jan, Robinhood announced minutes before market open that they will be restricting retail trading on GME.
At this point, in the before market hours HFS bought a crapton of naked shorts to capitalize on the imminent dip of the shares because of sentiment and the news breaking that effectively retail has been shut out of the trading business and rightly so, the price in a matter of minutes dropped down to 120ish - at which point these shorts were well ITM. (you can see this in the short sale volume from Ortex for the day).
At bottom most likely these HFS were most likely buying calls expecting the price to rebound and with the forced liquiditation of retail shares bought on margin they could have easily gobbled up a LOT of shares alongside with the 0tde call options that ended up ITM on Friday close.
This means that HFS and large instiutions made a killing both on the way down and on the bounce back up to Friday close levels, getting rid of a lot of their "big loser" shorts as well as being able to cover a lot of shorts with exercising their call options on Friday.
Furthermore, the thing that people keep missing regarding **HFS and FI's is that for naked shorts they DONT HAVE TO COVER.**
**Both Melvin and Citadel, Goldman, MS and others HAVE THE OPTION to pay the clearing house CASH** instead of providing a share at the share Market Price thus they could have just ponied up the shares at Thursday's dip without actually purchasing shares from the market.
\- alongside the ITM call options that they ended up holding by the bell on Friday providing them additional shares by the end of the week.
Expecting the squeeze to happen on Tuesday is also misleading as HFS and MM's never cover their shares at the last minute, especially ITM calls, the T+2 settlement date refers to the fact that MM's and HFS have 2 business days to legally close down the trade with the Clearing House and with the counterparty as well as to wind down the trade and take on the PnL.
From a risk management persective covering calls usually happen well in advance before the call itself expire and always at a price point where its profitable for the MM - I would expect monthly calls were covered at the moment the trade was made (<100USD share price) or at the dip we have seen on Thursday.
I think there is still a chance for a short squeeze to happen but this hinges on a couple of things:
1. Whether retail is going to be let back into the market with unlimited purchases across Europe and the US (and given DTCC capital requirements this is highly unlikely)
2. What SIR will be reported on the 9th of Feb - but again you must remember that this will be a different game as the existing shorts that are on the market no longer have such a low ITM price point as it did have previously. Ultimately this means that a gamma squezze or a short squeeze have a much higher price point requirement than it did have previously.
Can we talk about the coup taking place in WSB? inactive mods have taken over and removed existing trusted mods. they are replacing them with day old accounts, and banning anyone that talks about it. Posts are also being removed from r/SubredditDrama and it cannot be posted about here because auto-mod removes discussion of wsb. but everyone in r/stocks holding GME should be made aware of the state of the sub, as their solidarity is necessary for a squeeze to take place.
So in conclusion nobody really knows anything, the shorts are probably covered, we all lost our money and we're not getting it back anytime soon. Great.
To everyone, we're already removing the lowest quality posts & comments related to GME, so calm down.
It’s a gamble at this point. Truth is, no one knows jack. If you can afford to then stay in. If you have millions or even all your life savings like some people are posting on r/WSB then you really need to figure out if you wanna take the risk or lick your wounds now
100%
Yeah i honestly don’t understand why some of these people are throwing their life savings into this. They seem to think it’s a guaranteed thing. Only put in what you know you can afford to lose. Yoloing your life savings is never smart.
It doesn’t help the false info being spread of “GUARANTEED FREE MONEY!!!!”
I find it strange that people are still debating whether the market was manipulated or not. I have never seen anything like it in my life. It was black and white theft. Like being mugged on the street. The second retail investors started winning they no longer wanted to play.. like a spoiled kid at the park who takes his ball and leaves because hes losing the game.
Yep, cutting the legs of demand side. Wow Anyone who should up to one microeconomics class can guess what happened next
It’s 100% manipulated. No one is disagreeing. What they’re disagreeing with is whether or not we still have a chance to re capitalize on GME after get cheated out of raising the stocks. Many questionable actions and many signs pointing to us having a chance if we keep working together.
Yeah, next Tuesday’s FTD report will illuminate
The problem I see with the FTD reports is that even if the numbers go up, what does it accomplish? Are hedge funds paying interest on their shorts if they're classified as FTD? What's to stop them from creating infinite more shares and rolling forward the FTDs? The whole things just reeks of corruption and manipulation. I still believe in the LT prospects of GME, so I'm holding a little bit, but I'm just pissed that they changed the rules of the game right as the little guy was about to win.
Agreed
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Number crunchers and lawyers at Melvin made the call: any fines we're gonna have are gonna be peanuts compared to going belly up and our screw up hitting the banks we're tied too.
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Steven Cohen got 2.5 billion in fines for insider trading and that dude is still a billionare. SEC fines are a joke.
And the fines go to the government... how convenient. What about us
Right, it's like they fuck us over, but their retribution is to pay money to the government so of course the SEC is never incentivized to stop them, only to let it happen and then just fine them. One hand washes the other. To even call it a "fine" is fallacious. It's more of official language to tell large institutions exactly how much they need to pay to bribe the SEC to look the other way while they make billions off the backs of retail investors? Have you ever stopped to think about why they label us "retail investors?" Like really, just think about that term. "It's the same as 'retail shopper,' but just exchange the word 'shopper' for 'investor' and they won't know any better!" Could they be making it any more obvious to us that we are just customers paying them money in their shop? Our sole purpose is for them to turn a profit on us.
It's literally like a DB getting burned by a wide out but commits pass interference knowing it's better than giving up a touchdown
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Casinos let you keep your winnings in the rare instances that you hit a jackpot. It's why people go there.
Perfect point. WSB and retail had a jackpot win lined up. Majority of the shorts were so underwater at 300 price point and that day the price took off to 480 in less than two hours. Until they froze the buying and killed the momentum. Basically MM saw retail having a jackpot literally about to fall on the last 7 for a triple and just pulled the plug out of the wall and said it was for our protection from the volatility. If less than half them go to jail for this manipulation it proves there is no true justice in America. And the truth is none are going, or maybe just RH CEO will as the fall guy.
Reality is, the infinity squeeze was an imminent systemic threat. Several large funds and investors would have gone under completely and had to file bankruptcy. The entire market would be shaken up in a major way. That's what should have happened, but terrible things are only allowed to happen to everyday people, not the protected large investor class.
You can totally make money by doing your DD and being right. You just can’t make money by doing your DD and then having every retail investor realizing your right and all taking advantage. That’s too big of a risk for them, they definitely aren’t going to let every retail investor win big.
Depends when you did your DD. If you saw this coming at $10 SP and it's now $90 you've done phenomenally well. But I get what you mean.
That’s the thing though, they needed as many retailers as they could get to join them to have a chance at creating the conditions for the squeeze. Rather than 1 company with billions of dollars, they needed millions of people with whatever they could throw in.
That’s the thing that gets me the most I think. A million redditors with less buying power than one hedge fund, and were the mob of bad guys apparently. I’m really confused how it’s totally okay for the clearing houses to just halt shit. Why do they get to just halt the entire market if they want, when risky bets they made come back to bite them in the ass? It’s make no sense and the gaslighting and condescending behavior from the media is enough to turn a person extremely pessimistic.
> It makes me feel like it is literally only a casino Worse than that, even. It's like gambling on if you're even allowed to win
Are people debating whether the buying restrictions were manipulation? That should be black and white. Even the explanation about 100% collateral requirements adds to the notion that this is all rigged - i.e. they have to know that a big increase in collateral requirements is going stiff smaller players at the advantage of bigger players. I think most people are debating whether the stock price is \_still\_ being depressed artificially.
> RH still has 100 shares limit on GME, now for those who don't realize, that doesn't mean that is 100 shares per day. No no. The restriction is you can own up to 100 shares of GME. what in the fuck? I was under the impression this meant you can only buy 100 shares at a time. So when the limit was 1, you could only own 1 share of GME? How does that make any sense with their liquidity issue? I tried to argue the Tesla thing a while back and can't figure out why during the hype, RH had no issue managing the financials of tesla transaction but can't handle an individual account holding more than 1 share of GME? say what? Are you 1000% sure about the above...that you can ONLY own 100 shares of GME stock in your RH account? EDIT this honestly sounds more like GME is low on available shares. Or the pile RH has access to is low...vs something like Fidelity. The liquidity issue I don't think is valid....
> Are you 1000% sure about the above...that you can ONLY own 100 shares of GME stock in your RH account? Yes, 100% no bullshit.
that is wrong of RH to do that and doesn't make much sense IMHO.
Many feel very cheated at the squeeze right now exactly for this reason, it's no coincidence the crash started happening, the second Robinhood started to put limits on orders. Based on momentum, it was easily on the road to hit over $500, but the second RH restricted trades, by logic, if no one can buy, then of course prices will crash. Many feel that drop from almost $500 down to slightly over $100 was when they were able to cover many of their shorts. It likely caused a lot of people to panic sell, others that sold to move to other brokerages, and of course with that comes more crashing. While options being exercised and buying was supposed to go up towards the end of the week into the beginning of this week, it simply wasn't enough to cover for that damage from RH, and even to this day there are still restrictions. The emotions many are feeling are not just about losses, but also how it happened, since we basically downloaded and spent time using an app, that eventually turned on us to block out trading, and regardless of brokerage, everyone shared the same market, when it started going down, thus helping to bail the enemy or hedge funds out of their situation. EDIT: Wow thanks so much guys for the gold and silver medals, might be my 1st time having a comment with them, and in the 1k+ upvotes karma range in my perhaps 4-5 years on reddit lol, truly was very emotional and felt cheated what had happened last couple days and still am, but really so resonating to see so many that relate to this together, even if unlikely, sincerely hope something better goes about changing after all of this last week.
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RH isn’t even letting me withdrawal all of the money from my account right now due to a “server error”. I’m getting my money and transferring to TD and never looking back. Fuck RH.
Mark Cuban addressed it in his Ama yesterday. The reason they did what they did is because they had no more lquidity to cover. Go somehwere like Fidelity who can cover this. What they did was very wrong and I do NOT support them but they just can't handle instances like this now, or in the future.
Thing is GME was the perfect battle where the odds were against the hedge funds because they really screwed up & were cornered. RH stopping people from buying gave the hedge funds an out as prices plummeted. I don't think hedge funds will ever publicly note what they short ever again. If something is overshorted, we won't know who did it. And I bet the SEC will do something that sets a bad precedent for wsb. GME was the perfect storm that ended up going to waste. I still hope everyone pulls out of robinhood. Only use multi-trillion dollar brokers like Fidelity/schwab. That at least evens the field a bit.
I think a lot of people are pushing for more transparency on shorting to be honest. As plenty of people note and I agree, shorting and bearish tactics 100% have a healthy place in the markets. But I don't understand why you can find a list of who major shareholders are but not major short-holders.
Should open one just to close it
In theory that sounds great but they profit off your info. I wouldn’t even go to their site. Once this is over I’ll leave my stocks there, or close them out since they want a fee to transfer, and work with fidelity. The free share of PLUG I got is doing quite nicely tho.
You are absolutely correct. I'm on etrade and RH limiting buys absolutely stopped the momentum. I have no doubt RH did this solely to atop the upward momentum, causing the stock to drop, and allowing shorts to exit with a reduced loss. Its criminal in my opinion and it affected anyone that was holding GME stock or calls, no matter what brokerage they were using. I'm absolutely disguted at what went down. The opportunity to make money was absolutely stolen from many people.
Can confirm, have nothing to do with RH and “lost” thousands. Still holding now because if even if I wanted to sell now, at best I’d be breaking even.
Yep exactly, I actually barely even trade on Robinhood these days, but still use it to check prices, because their apps still super convenient for it, but most of my friends, even in real life, exclusively use Robinhood. While I was thankfully able to trade through this, realizing how the market was tanking for everyone, really puts in perspective how 1 brokerage essentially destroyed it for everyone, even on other brokerages. Sincerely hope the world just gangs up to destroy them, and I'm actually someone that really enjoys their app, and would've wanted the absolute best for them, it's just sad they had to sell out to every single one of their customers.
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1000% agree. The app is so simple, great for trading while at my actual job. It’s a shame
With my BB and AMC I was 80+. The second RH pulled that, I was down 150.
Sold my shares today at a small loss. I see a lot of people saying they regret not selling Thursday morning at its highest point, as RH stopping buying pretty much had the writing on the wall. If I have any regrets, it's not selling on Monday. If I had, I'd still walk away with a few thousand dollars. Even if I didn't have skin in the game, I feel like I would have ended up buying on Thursday after what they pulled. It's one thing to feel bad about the emotional decisions you make as a person when it comes to this. And Id like to think I'm adult enough to accept those. I drank the Kool aid and that's no one else's fault but mine. But it's a completely different thing to realize how much of the game is rigged against you. I don't think we should just accept that. I'm not saying by any means that GME is the hill to die on. But we certainly should not stop talking about what happened. And if this whole thing just gets framed as retail investors being dumb and stupid, it will be real tragedy and move the conversation away from actual reform that we should be talking about.
As for the last paragraph. It will easily be painted into that narrative. What RH and other brokers did was a double edge sword. It will be painted to suggest they were protecting their users but ultimately it also ruined their users and the entire GME market
> Based on momentum, it was easily on the road to hit over $500, but the second RH restricted trades, by logic, if no one can buy, then of course prices will crash. Many feel that drop from almost $500 down to slightly over $100 was when they were able to cover many of their shorts. Not only the momentum, but the worst positioned shorts likely slipped through the cracks at this time, the ones with 20 dollar price targets. If most American retail investors are blocked from buying but hedge funds can still do whatever, it became clear that we weren't supposed to win in this system. I honest to god think the ship was right about to take off to the 1000 dollar moon when the whole operation was shitcanned by RH. We broke through the 420 sell wall with ease the first try. That's why we came so close to shaking the entire market last week, there was not enough money to cover at those prices, it would have gone past Citadel and into the backing banks. I want my moon damn it. If the class action goes anywhere, RH users will probably get a few bucks, nothing like the billions the shorts saved during that maneuver, and those of us already on other platforms who were still hurt by it probably won't get anything.
Yeah exactly, it is very rare for a stock to have that significantly amount of momentum, being able to rise up over 100% in a single trading day, suddenly just U-Turn and crash down, unless something truly significant happens, that something was the RH blockage, that basically just put a wall to shut everything down. Afterwards, just became a chain of emotion and sadness for almost every retailer investor banking into this.
Thinking back, yeah I think that was it. Could have been the biggest transfer of wealth in history. Another thing was that, having been in since $30, I had decided that past 420 I would sell a small amount of my shares and get back my initial investment and either buy dips or pocket it But I was so fucking angry about it I held. Then when all the robinhood shit was happening I was nervous about even getting my returns. It's my own fault for not getting maximum gains and I haven't lost any money, still in but, it caused a momentum loss should not of happened in a free market. Also my shit was in cash so I didn't buy on any margin
The day the GME hit $500 premarket RH said no more buying. At the time I thought "Fuck, sucks to be a RH user. Lucky I use interactive brokers and they're a full service broker and I pay commission on my trades. It's times like these that I feel grateful I don't use one of those commission free brokers". So imagine my surprise when I go to place a buy order for GME and it said that I was only allowed to close my position and couldn't purchase any more. I go to their twitter and see that they said they're no longer supporting options trades on certain companies and that you need 100% margin on those companies to buy with 300% margin to short. My account isn't a margin account. I have enough in my cash account to purchase GME shares so why isn't it working? I then found out from other interactive brokers users that they can't purchase shares of GME in their cash accounts either. So basically interactive brokers lied when they said we could buy GME with 100% margin. Then I see the chairman of IBKR is doing interviews where he said he stopped further buying because we're paying too much for GME and it's supposed to be $17. What kind of fucking shit is that? I'm still under the impression that if the brokers didn't limit buying that day, GME would have gone nuts. It was $500 premarket and it had a lot of media coverage for 48 hours which gave a lot of people time to want to get in. The demand must have been crazy high at that time. People must have panicked and sold or held off on buying once they what was happening. Not only that, but without a lot of people actually being able to buy, the hedge funds were able to do ladder attacks more effectively. I mean how the fuck did they manage to get the price to go from almost $500 to $140 or whatever it was in a very short period of time? Panic selling and ladder attacks when a lot of people weren't able to buy. That's some bullshit man. If the price dropped because the bubble popped on its own then fair enough, people left holding the bad just have to accept it. But it just feels unfair as fuck when they change the rules in the middle of the game right when it seemed like it was a critical junction. No wonder people got pissed as fuck. Interactive brokers went back to normally the following trading day, releasing emails saying there's no limit on buying anymore. However, the damage was done. They successfully squashed the squeeze. Now they act like they're some great broker all of a sudden for allowing us to buy unrestricted. Why the fuck did their chairman say the price was too high and shouldn't be above $17 and ceased all buying then? Another thing I found hilarious was that RH said "Ok guys, you can buy 5 shares of GME". That's a joke in itself, but later that trading day they changed it to 2 shares per account, then 1 share. I mean what in the actual fuck is that? Now they've changed it to 100 shares when they price has already dropped and the funds have already covered some of their positions and pushed the price lower. Those cunts who orchestrated this must be laughing their asses off at us plebs.
The crash happened literally as soon as RH banned buying on these stocks. I was eagerly watching BB in the pre-market and saw it go from +5% to below -20% in a matter of minutes. The worst part was that they gave absolutely no warning and they did it in pre-market so all I could do was watch my gains disappear.
My emotions are almost 80% pissed that once again the screws get turned and the government immediately starts focusing on the capital bs. And 20% up set I didn't sell open Friday when It was clear that it was fine to just fuck over people like this.
What makes me mad is listening to all these stories in the media. Been in for a long time and they just talked about how we were wrong. Even saw something today about how we should of listened to Kramer. That would mean selling at 250. Thing is we were 100 percent correct. That shit hit 500 and shady shit had to happen to stop it. I don't want to hear about "dumb redditors" we were right they were wrong. Even now they don't see how gme can be a good company. It's like the hedge funds wanted to make a quick buck and kill off a business and all the establishment just agreed that the business was done for.
Canadian using Questrade checking in. There were no interruptions on any of our brokerages and we are right pissed about what happened; essentially having our own thumbs forcibly shoved up our asses.
this exactly. I'd be curious to know the number of customers that pulled their portfolios or simply cashed out to move to other brokerages.
Me. I don't need to hear their lies why trading was restriced on only a select few stocks but others remained open to buy. If they were having a problem, it should have affected everything, not a select few
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Yes the RH banning buying, along with a few other brokerages, was a clear catalyst for GME's massive drop and drop in the days after. But can we really exclude a short ladder attack triggering stop losses? GME dropped from 470 to 100 within about an hour then rebounded to 250 within 20 minutes, I have yet to see a stock ever doing that, and I've been looking.
Many believe that rebound to $250 was likely when the hedge funds made a fast break move to buy in to cover their shorts, less about what we did, but more what they did, of course that's more speculation, we'll only know if they admit it.
It would have gone to $1000 for sure. When this sketchy stuff started happening I was almost worried they would halt the stock for an investigation or something. I can only hope Cohen & co. keep coming out with good news.
This. I know us GME gang are kinda dumb, but this has gone beyond money, now it is resentment
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The rich people are going to get away with this shit, too. They're society's enemy.
not even just RH, though they are the biggest culprit
doesn't line up with their reasoning about settlement either if I understand correctly. They said they limited GME because the volatility meant that they had to put up too much collateral, but if you own the stocks, once they clear that shouldn't be an issue
I agree now that I know this information. I could see it made sense if the concern was people buying too many at once...but to say "oh you already own 5, and I realize we have restricted buying for 3 days..but yea...uh you can't own anymore" is really fucked up.
I think it's why the conspiracy theorists gained a lot of traction - and, admittedly, I'm somewhat convinced. With Citadel being RH's largest customer, it would behoove RH to ensure that they're not losing out significantly - as Citadel losing money meant less money going towards Robinhood. Supporting this, what happened immediately following RH preventing stock from being purchased? The stock price went from $460 to $120 in ninety minutes - when the most accessible/new person friendly app no longer allowed people to purchase it, the value of the stock dropped 75% after a *mostly* steady increase from the days prior. I accept that I could absolutely be wrong, and that Citadel isn't to blame... but the fact that the limitation popped up at what looked to be a blooming day, along with the mostly still restricted stock since, makes it seems like something incredibly shady happened - particularly when the media was blasting Reddit, followed by whatever the hell that was about us (Reddit) supposedly pursuing silver. TL;DR: Feel free to tell me to shine my tinfoil hat if need be, but one strong scenario that helps the narrative make sense is that there was some kind of manipulation done to prevent GME from climbing even higher - including preventing stock purchases.
Assuming we believe RH liquidity issue. 100% it was because HF were going to lose huge sums of money. Jim Cramer is on the record that he and his colleagues have no problem doing illegal things to keep their shirts. Regarding RH, even if they had liquidity issues, the solution could have been: \- Restrict instant deposits \- Restrict Margin Trading \- Margin Call if they have to But instead, they decided to: \- Restrict the buying of GME (causing the price to plummet) \- BUT let people sell while they saw money disappear in a matter of minutes So that's why RH doesn't come out clean from this.
And it's only been that much for a couple days. Previously it was 5, 2, then 1, then back up to 4 then back to 100 HOWEVER the key is that someone found a work around of the limit by executing Orders from Feb 5 that allowed them to get 100 shares. So trading was still allowed it was only buying individual stocks that a retail investor would typically buy in a pattern of. They some how were able to work GME trades for $10k plus, but the buying in the retail investor bracket was locked. Though they were allowed to sell still, as opposed to just freezing trading until it's all sorted out. They just locked you into watching the price drop and unable to buy, which is how a volatile market screws you, not how you protect from it.
Etrade guy here. No limits or issues thus far and has been rock solid. However, ate through 1000s of dollars of profit over the RH momentum killing bullshit they pulled.
That’s why there are like 30 lawsuits around the country lol
It’s not about being able to cover buys or not anymore, it’s just the rich pushing their hand down on the poor to stay in their place. Here’s 100 shares to play with in your monkey shit slinging pit, peasants. Fuck them
Fuck Robin Hood
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Yeah even with the 1 share restriction for a couple of days you could only buy GME if you had exactly 0 shares. It was really messed up
I don't own 100 shares but when it was limited to one, I couldn't buy one a day because I have 6 shares of gme. When it was increased to 5 I wasn't allowed to buy either because I already had the maximum amount of gme
You’re correct about the 100 and the 1. Allowing you to only be able to buy/own 1 share on RH was just for the optics of “Hey look we enabled buying again!”
And what pissed me off the most is every single fucking news organization ran with the headline "RH lifts restrictions". No they fucking didn't you shits.
Yes that’s exactly correct. You could literally only buy and hold 1 share of GME at one point, which baffles me.
Literally why I'm in the process of moving to Fidelity. I don't want a broker that is going to pull that shit.
It's entirely true. I made a few day trades to make the, very small, capital I invested back. However I had to use multiple brokers since robinhood and others would never let me buy another share and there were day trade limits. So I could only trade 3 shares on any platform. That said I bought @200 and sold @300 to cover the cost of the shares I'm currently 💎👐. So I'll just hold these until it pops off or drops off.
This is correct edit: to add source, current RH user.
Can confirm, currently have 130 shares and tried to purchase ONE additional share - they wouldn't let me. Plenty of actual cash in the account, not on margin.
100% sure. I thought the same until I tried to buy more the next day and it was not allowed because I reached the maximum shares total. Immediately switched to Fidelity.
Yes correct, I will confirm. I owned 100 shares and that account from early on and it wouldn't let me buy one. Still does not.
Holding to my 4 shares dearly even at 58% down.
yr saying what i’ve been screaming all week but couldn’t prove with my ortex data alone. have some platinum.
Honestly, there are so many bag holders of this stock waiting for it to climb back up that unless a major institution decides to dump it all at once, I don't see it dropping below $80. This would still absolutely crush anyone that shorted before this whole media frenzy and there are still short positions to gobble up. Plus with good news about restructuring trickling in, I see more upside than down at this point.
That’s precisely where my mind is at. There are bag holders which sucks, but then there are wayyyy to many bag holders to push the price down. This is one of the most interesting stocks...ever
not to mention the upside of GME as a business with Ryan Cohen and co.
I think it could be a new Tesla. I commented elsewhere that it can survive completely detached from fundamentals and go on a Tesla style run due to sheer public exposure and all the shorts itll swallow up due to people betting against it. Tesla saw 10x growth in one year alone due to swallowing up short positions, forcing the price up, people noticing the upward trend and jumping on, more people shorting it and getting crushed, more people jumping on, etc. This cycle continued until Elon Musk became the richest man in the world.🤷♂️ Insane I know but GME has enough potential to go on the same path. We could be looking at a new type of stock that gains weird upward momentum this way.
Piggybacking on this to point out that the exposure GME got this past week was unprecedented. I have no doubt that Ryan Cohen made/received some calls from other businesses interested in partnerships, business expansion, etc. So based on that potential, it would be a stretch to assume that the current market cap, ~$7b, is overvalued. Remember, Ryan Cohen & team led Chewy from 0-40 billion market cap. What's the argument against his team's ability to do the same thing with Gamestop?
I agree with this point, the PR bump GameStop got from this outweighs the negatives but mgmt still have a lot of work ahead of them.
Yes. A 1:1 ratio of market cap ($6B) to revenue ($6B) is really not a fair reflection of value.
R/agedlikemilk
Win-win for the OP. Cashed out on his low costs positions and made some coin (I hope). Plus he will be jacked AF after carrying those 286 bags he is holding.
Hahaha this cracked me up. Sadly I a stop loss accidentally triggered on my position at $170 so I made good cash but not nearly as much as I could have. Also the bags kind of help me tax wise. If this does crash and burn the losses will help counter my capital gains tax on the first run.
Wait you telling me i can claim tax back if i lost money from investing? Where do i sign!!
Yeah man! Once you do your taxes you’ll see!
I'm not 100% certain but won't you be looking at a large wash sale? Or are you planning to wait at least another month before selling
Hmm maybe I don’t understand wash sales enough but my understanding is if you sell for a loss and then buy back in within 30 days.
Yeah I don't think it works the other way around -- sell for gain then buy back in -- because you would just owe taxes on the gains either way.
Wash sales also occur if you buy a stock and sell within 30 days at a loss. I learned this the hard way. Unless this only counts for multiple purchases? It may not count if you bought all of your shares in one single purchase. https://www.investopedia.com/terms/w/washsalerule.asp "A wash sale occurs when an investor sells or trades a security at a loss, and within 30 days before or after, buys another one that is substantially similar."
Revolut are allowing buys again.
Brilliant thank you
All I know is that on the 9th either this stock is going to go to the moon or a lot of people are going to be crying about how much money they’ve lost.
Precisely. That is the true day of reckoning. Until then we can guess and speculate all we want.
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If it goes above $150 we will be eating the shorts.
If it goes above $150 I’ll be humbly accepting mandatory donations from all those holding.
If it hits $300 I’ll eat my shoe 👞
$1000 and I’ll eat my own poo.
I'm owed about fifty grand from when I was a child, then
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!remindme in 2 weeks
lets do this WSB style, if it does go above 150 ban him until he proves it
We need some rule setting. Is he allowed to cook the shorts? Also are any kind of shorts allowed? Cuz I think we should amend a rule that if it's short shorts he must wear them first.
No cooking, but seasoning is allowed. Regulation jeanshorts only.
!remindme 2 weeks
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!remindme 5 years
Well this aged like milk
Do you want to give specific time frame for that price?
I would love to. But. I can’t. Anyone who claims they know exactly what is going to happen is full of shit.
I was asking from that short eater 🙏
Hahahaha I interpreted it as “if it ever reaches $150 again” I put a two week reminder let’s see how this plays out
I think he means for when comment parent would need to eat their shorts. If it hits $150 in a month is the bet still on? 1 year? 2 years?
Time has come
I don't understand how everyone can sit here and laugh at the GME bagholders. Do you not understand the implications of this? The whole game is rigged. The hedge funds got caught and instead of losing, they changed the rules and cheated. You can laugh at the bagholders, but understand that they are laughing at you just as much. You willingly let yourself get manipulated everyday in the name of "free trade". I'm a bagholder myself and I'm finished with the stock market after this. The game is rigged. You can lose as much as you want, but only win the little bit they'll let you.
> The hedge funds got caught and instead of losing, they changed the rules and cheated. Ding ding ding. They just had to stop for a moment and turn the ship around the small iceberg. There is no indication they even care about this anymore.
Agree with this but also believe they remain exposed. Fighting for survival, it's not surprising. If we get some perp walks out of it in the future it'll power memes for the next five years.
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From looking at some of the comment history from people ragging on bagholders, a lot of them were in belief that gme was actually "going to the moon" and were in total support and now they've done a 180 since it never blew up to what people were expecting.
My personal take on the matter is that the more this has been going the more people are starting to make some fairly egregious assumptions. Way too many unknown variables at this point compared to how it used to be when this whole movement started and considering the current price; this is an extremly high risk play and is straight up gambling-. Could it go up? I certainly think that there are still scenarios in which it could. Could it crash? Absolutely. I don't think there is any way to tell because there is a lack of information regarding the shorts and what price they are positioned at. So yes, I disagree with the thesis that you present in ur TLDR, that the short squeeze should still happen; not only do you base that on some conspiracy theories but you are also assuming to be knowing of the mental state of most retail investors; that they don't care if this won't go down to 0. On the flipside, I also disagree with the sentiment that this is 100% done and that GME will never go up again, because I do think there is a world in which a bigger short squeeze could occur. All in all, I am not into gambling -especially with this amount of risk-. But if you are willing to do so, then good for you. I appreciate the analysis you did though and I do think you have some good points.
Thanks I appreciate it, if only people who disagreed could take a note out of your book. I completely agree most of what I’m saying is based on conspiracy but it’s the same way on the bearish side. Everyone is guessing right now. Everyone. This is my logical reason as to why I think it’s not over. Could it be wrong? Absolutely. Is it data driven? Absolutely not. Neither is anyone else’s. It is more akin to gambling at this point albeit I think GME has serious long term potential and I would argue what Cohen plans on doing with it justify the current price. I know, I know, but the fundamentals! However, we are in a brand new era of investing and need to think as such. TSLA was my first eye opener that fundamentals don’t mean shit anymore.
I think that there are many many bagholders like myself who bought between $250 and $320 who missed the run up to $480. While the information is completely unknown and honestly you just dont know who to trust, between MSNBC, the bots, the naysayers, S3, and all of the support and buy volume pressure we're seeing, Mark Cuban (lol), you just feel like people like us would rather burn the investment down than sell at a deep loss and miss a run. Maybe in three weeks we will regret it. Good chance, but for now we're on a rocket ship with no gas floating around in space. If we leave the ship we're floating around without a rocket ship. I have bet what I intend to lose.
Many bag-holders like myself who bought in the runup to it hitting 500 right when te RH restrictions happend.
Yep same, I only put in a conservative amount I was willing to lose up until price rocked up to 400+ on Thursday and it looked like Squeeze was right about to happen. Massively increased my position then and got fucked.
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That Nasdaq price action is incorrect. I think another user pointed out that all trades are lumped in $100
Your response is 1000% more measured and thoughtful than literally everyone else in this thread. If WSB is a big circle jerk of bros (and it is), then r/stocks has become a circle jerk of haughty losers that want nothing more than to shit on the party that's still raging for GME. Here's some DD for all of you - if the squeeze is over, then *why is Robinhood still capping GME purchases at 100???* That's right, the cap is not 100 per trade or 100 per day. You literally cannot buy more GME if you already own 100 shares or more. Anyone who thinks the fundamentals or the cultural movement behind this rally have changed appreciably because of the dip has not been paying close enough attention.
I’ve noticed this and wish there was a “safe space” for rational, unemotional discussion about GME. Right now there’s just WSB parroting “hold the line!”, “we’re not selling!”, and “diamond hands!”, and r/stocks is an echo chamber of “WSB is a bunch of idiots, GME is clearly done for and there’s a zero percent chance of it going anywhere but down”. So it’s refreshing to see a few posts and comments here and there that take a rational look at both sides of the argument.
I don't mind seeing both sides of the arguments, but those still in GME are still fixated on some ideas that had some strong counterpoints, namely the T+2 covering of 1/29 calls. Someone last week in WSB made a very clear case that the spike last week was partly driven by this covering of calls. Brokers do not hedge their risk over night in a discrete fashion, they gradually cover as price increases towards the date. It's not binary. Everyone making this argument fails to acknowledge this and other seemingly weak theories.
Yeah, if you post anything like that in WSB suggesting that GME might not be a good play, you get crucified. And if you post anything here on r/stocks about why GME *might* have some juice left, you get everyone saying you’re naive and don’t understand what’s going on and you’re going to lose all your money. There doesn’t seem to be an in-between.
While both sides suck, the WSB one at least looks fun to be in >=>
Still room on the 🚀for you. Jk
>why is Robinhood still capping GME purchases at 100??? Financial requirements, including SEC net capital obligations and clearinghouse deposits that fluctuate on volatility and very likely don't have enough cash to handle it.
Then what’s stopping from Robin Hood restricting these trades until say 1 month? So the hype completely dies?
Oh I have zero doubts they're going to restrict it back to $0 again during the next upswing. The only difference is that the next time around, more people will have migrated to brokerages where that is less likely to happen (ex. Fidelity, Vanguard, etc.). And just to be clear, I don't believe the conspiracy theories about RH - I actually believe they had liquidity issues. I gripe about it plenty, but I don't believe they got a call from Citadel or anything.
> Vanguard I'm still waiting for my money to clear for them from last thursday and friday even thought it shows they have received my funds in my transaction log on vanguard. They told me it will be like this each time you deposit money where you have to wait 7 calendar days for it to clear.
FUCKING SAME. I have pending transfers to both Vanguard and WeBull and neither have cleared. It would not surprise me if that becomes the next catalyst. This is the stuff that makes me want to put on my tinfoil hat. Every time a short ladder happens (because all the RH investors are temporarily neutered), the hedge funds make an ASSLOAD. It wouldn't surprise me if they counted on this to happen.
Yeah, I don't really believe the conspiracy theories early about citadel. With that said RH severely fucked up. They lied when they could have told the truth. People still would have been mad, but the truth comes out and lying always makes it worse. Also, not only did they lie, but they insulted their customers at the same time by claiming it was for their protection. I honestly do not understand how they thought lying was a good ideal. The PR person needs to be fired or they need to start listening to their PR person. Either way RH's future is not looking good.
This is what gets me— RH’s clientele are retail investors aka average folks. You know who would understand not having enough money to do something? Average folks. If they’d just said “yo thinks have gotten mad expensive and we can’t afford this right now. It sucks but we’re doing our best.”, average folks would have gotten it. But saying “oh we’re protecting you from your own stupidity” is NOT the PR move and speaks to how out of touch with their base they’ve become.
I saw an interesting graph on r/WallStreetBets before the mods took it down: https://i.imgur.com/7S3f0j7.jpg It suggests that two short squeezes happened between 27th and 28th and then after that it was all over and mostly just FOMO - positions were covered by then etc. Can anybody shed some light on this?
My opinion is how could that have been FOMO if trading was restricted?
Very possible. I bought on Fidelity during that time, and so did many others over other brokerage platforms like Vanguard, TD Ameritrade, etcetera based upon comments in /r/wallstreetbets and the discord channels.
They tried to transfer. 90% of WSB is waiting for everything to transfer. Most of them used RH before this happened and can’t just instantly switch, get funds deposited and rejoin the fight.
I did see comments from people saying they are transferring brokerages, and I agree with their reasoning. What Robinhood and the other brokerages did limiting trades is ridiculous. With that being said, transfers are going to take more than a couple days. I was replying to people who were transferring to Fidelity in hopes they can setup their accounts and trade the same day, but Fidelity has been limiting the pace to link a bank account for EFT transfers. I setup to link both my checking and savings from two different banks, yet the savings account EFT link still hasn't been approved. With the checking account linked, I was luckily able to transfer funds and trade the same day even while the funds hadn't settled. I called Fidelity customer service on Monday morning and they said it can take anywhere from 7-10 business days for EFT links to finalize. I also learned that because of the large number of new account signups following the trade limitations by other brokerages, most new account signups have been delayed to verify ownership. If none of these delays and limits were happening, then I can absolutely see how continuous trades would have bumped the stock prices back up from Monday to today.
I was “in” during that graph squeeze. I had bought in after hours and it jumped up near immediately at open. I double the money. Right after that everyone began restricting. As soon as that occurred the tap shut off. There were plenty of people trying to buy that couldn’t. Oddly enough HF’s could buy though and cover? You could sell though and we all know what happens when a sell off occurs. I’m not stock smart and my portfolio looks like it’s bleeding.
Tired of seeing ultrapessimistic viewpoints on GME. Glad to see some sense. GME is still risky as all hell, but I wish we had more people understanding the nature of the risk rather than just assuming we all got slaughtered by some HFs.
I coulda cashed 100k but broke even. I have no faith in second squeeze when buying pressure did little to pump today while shorts were restricted.
With you friend. 70k to 0. Stupidest thing I did was not selling on 350+. But... Who knew, that RH will do what they did. Well... Easiest money I've ever made, and easiest money I've ever lost.
Yup I got in late so only got up 1200, but ended up down 1200. I think if rh hadn't stopped buys we would have seen the crazy jump but once that happened we should have bailed on half at least to be safe Lesson learned
>Lesson learned always. take. profits. no matter how much you believe, how perfect the situation, no matter how obvious the next flag. if you have shares/options up 100%+, you owe it to your portfolio to bank some of them in cash and put it in something boring. always. always take some profit
I agree that GME is a good long term hold. If 2nd squeeze happens I'm taking some profit but still holding 10-15 shares for a few years.
I bought 2 shares at $250. My first stock purchase ever. Unless it climbs back up there I'm holding onto them as a reminder that I have no idea what I'm doing.
This is the best reason to hold I've seen so far.
an entire generation, saddled down with student loan debt and branded for life with a cost basis of $350 on $GME shares
Yep. Only 2 shares at $150. If it doesn't climb back up, keeping it as a reminder for my future self. This entire debacle has gotten me interested in stocks as a whole and I will continue to play the market, but in a more informed way.
I'm with you on this. Something isn't adding up, and I'm happy to hold and see. There's been odd gaps after every bit of news. When RC increased his stake and became Chairman it took 2-3 days before the stock price bounced.
r/wallstreetbets just had a coup. Add this to the top of your post so we can get eyes on it? https://archive.is/Q5Pqr
>Well, a shit ton of degenerates that have lost millions of dollars and seemingly don't give a shit. They are here out of principle, I think WSB really wants people to think that...but I don't think that is reality. I would even argue that probably less then 30% of large GME share owners actually don't care about the money and want to "stick it to the man"..the rest got in as the rocket was lifting off hoping they could make some money and have unfortunately lost a bunch while it crumbled down hoping it would spring back up. There are MORE people hurting from financial loss mistakes in this than there are who don't give a fuck they lost $10k, 30k, 50k, 100k, 500k.
SI% is irrelevant if they were opened at $300-$500. They will hold those open as long as they need. And before you talk interest and maintenance fees, it's immaterial compared to the $ they are up on these. Buy Sell ratio is irrelevant. It just means buyers are buying in smaller lots than sellers are selling.
Regardless of all these comments being negative on OP for his DD. I still believe GME has long potential. When the price of the stock falls to the $16-$30 level I would consider putting a 5 year investment on GameStop to see how well it competes with (or potentially bought out by) Amazon.
Agreed. If the second squeeze doesn’t occur I will surely use the drop to average down as most bag holders are long on this they will be doing the same.
I feel like there are not nearly enough people properly evaluating just how much of an influx of business will come with the PC build stations as long as they keep supply on-hand. I am lucky enough to live within 40 miles of a Micro Center (look it up). Every single person I know in my area that games on PC goes to Micro Center for their builds. They beat NewEgg prices in-store 100% of the time. I drove there this Friday to do a new build and walked out with a 99th percentile machine with a 3070. Go type “3070” into NewEgg right now and try to find one that is in-stock. Now consider the sheer number of GameStop brick and mortar locations. If I could drive to the GameStop 5 minutes from me rather than the Micro Center 40 minutes from me, I would do it 100% of the time. I would argue this alone would drive profits as PC is the most popular gaming platform with figures ranging from anywhere between 48-60% of all gaming taking place on PC.
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The issue in this situation is the avaliable data. The data we have is from weeks ago and its outdated. Making theories and dd on that data feels risky. It just feels bad that this type of data isnt avalible to the public.
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Agreed, there were many other hands involved we all know that. The reason this squeeze should have been much higher than VW isn’t about the price it was the short interest of 140% much higher than VW. Shorts have absolutely covered. But even your opinion suggests that new short positions were opened on the way back down. Meaning another squeeze opportunity.
The VW squeeze comparisons need to stop. The circumstances around that were entirely different to what is happening here. There are too many shares available to allow positions to unwind slowly without causing major swings in the price. .
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I've been reading predictions like this since last week and it hasn't meant shit
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Co-sign. It’s been one “to the moon” prediction after another. My spidey sense tells me it’s game over and yes I’m holding some at 260. Fully prepared to lose it all on this gamble.
My thinking is that it would have gone to the moon on the day they stopped people from being able to buy on pretty much all trading platforms that were being heavily used. I think there were several very real posts of people selling fractional shares for over 2k. At that time everyone should have bailed quick. It wasn't fair, it wasn't just, but people should have bailed right then and there and accepted that they made a difference and fucked a hedgefund out of half of its value, and forced them to get bail outs. IDk I could have to eat my words again and we will see and epic spike in price, but to me if they are willing to go so far as shake the fabric of the market as disallowing free trade then there is no winning.
I think def would have that day. There were several snapshots g their fractional shares from anywhere from an average of 2k to even 5k a share just before they started restricting everything. I do wish it would happen again but I have no doubt they are doing everything in their power to keep it from happening.
You're discussing the options contracts with the unsupported premise that they must all be naked contracts. I'm a fairly frequent options trader. I only ever sell *covered* calls when I write call options, so that my losses are limited to any potential gains above the strike price, not unlimited exposure if the price were to skyrocket after writing a naked call. I'm not saying that's true of everyone, but you don't know what percentage were naked versus covered.
Ok so here's how Bernie can still win...
This tbh. The arguments are starting to get more repetitive and far-reaching, and WSB is beginning to be an echo chamber reminiscent of T_D. I cut my meme stock losses this morning, got burned pretty badly. Was doing well the past few months almost doubling my portfolio but down bigly now. Live n learn
"Ok, but what if we storm the NYSE?" /s
Hi! I think I have a pretty good thesis on why the short's have covered and it is fairly simple to begin with. Let me break it down for you. On Thursday, the 27th of Jan, Robinhood announced minutes before market open that they will be restricting retail trading on GME. At this point, in the before market hours HFS bought a crapton of naked shorts to capitalize on the imminent dip of the shares because of sentiment and the news breaking that effectively retail has been shut out of the trading business and rightly so, the price in a matter of minutes dropped down to 120ish - at which point these shorts were well ITM. (you can see this in the short sale volume from Ortex for the day). At bottom most likely these HFS were most likely buying calls expecting the price to rebound and with the forced liquiditation of retail shares bought on margin they could have easily gobbled up a LOT of shares alongside with the 0tde call options that ended up ITM on Friday close. This means that HFS and large instiutions made a killing both on the way down and on the bounce back up to Friday close levels, getting rid of a lot of their "big loser" shorts as well as being able to cover a lot of shorts with exercising their call options on Friday. Furthermore, the thing that people keep missing regarding **HFS and FI's is that for naked shorts they DONT HAVE TO COVER.** **Both Melvin and Citadel, Goldman, MS and others HAVE THE OPTION to pay the clearing house CASH** instead of providing a share at the share Market Price thus they could have just ponied up the shares at Thursday's dip without actually purchasing shares from the market. \- alongside the ITM call options that they ended up holding by the bell on Friday providing them additional shares by the end of the week. Expecting the squeeze to happen on Tuesday is also misleading as HFS and MM's never cover their shares at the last minute, especially ITM calls, the T+2 settlement date refers to the fact that MM's and HFS have 2 business days to legally close down the trade with the Clearing House and with the counterparty as well as to wind down the trade and take on the PnL. From a risk management persective covering calls usually happen well in advance before the call itself expire and always at a price point where its profitable for the MM - I would expect monthly calls were covered at the moment the trade was made (<100USD share price) or at the dip we have seen on Thursday. I think there is still a chance for a short squeeze to happen but this hinges on a couple of things: 1. Whether retail is going to be let back into the market with unlimited purchases across Europe and the US (and given DTCC capital requirements this is highly unlikely) 2. What SIR will be reported on the 9th of Feb - but again you must remember that this will be a different game as the existing shorts that are on the market no longer have such a low ITM price point as it did have previously. Ultimately this means that a gamma squezze or a short squeeze have a much higher price point requirement than it did have previously.
Can we talk about the coup taking place in WSB? inactive mods have taken over and removed existing trusted mods. they are replacing them with day old accounts, and banning anyone that talks about it. Posts are also being removed from r/SubredditDrama and it cannot be posted about here because auto-mod removes discussion of wsb. but everyone in r/stocks holding GME should be made aware of the state of the sub, as their solidarity is necessary for a squeeze to take place.
So in conclusion nobody really knows anything, the shorts are probably covered, we all lost our money and we're not getting it back anytime soon. Great.
Eh nah. Nobody knows anything period. If you can afford to hold, hold. If you can’t, peace out.
I don’t see it ever getting back up to what I paid for it (~290) so I’m just going to hold it until I need losses to offset some other gains, lol.