https://cimg7.ibsrv.net/gimg/www.mia...f5ac2451ea.png

It's different than the traditional pump and dump hence ponzi scheme. This particular case is a stock that was overshorted (e.e. 140% of float). Hedge funds borrowed stock, sold - hoping to buy it at a lower point - but instead the crazies at wsb saw that it was overleveraged and started buying ridiculous amount of stock. Come expiration...... the hedge funds that BORROWED the stock need to get it back to give back to the one they borrowed it from. They need to buy stock. If everyone who has the stock refuses to sell, the price keeps going up. This usually never happens because there's never this amount of unity. In addition, a stock has never been this overshorted - with someone noticing.

So. The price is set by the weakest link. If enough people sell at $1k for the shorters to gather back their positions, the game is done. If people hold until $10k - then the price might be $10k, and so on and so forth.

Helpful, thank you. EDIT: WallStreetBets. “wsb” ?

For the good answer, allow me to bring your :likecat: count back to zero.

Ohooo. Thankyou! wsb = wallstreetbets. They're currently being demonized on the media. People on there are like "why are they treating us like this?!?!" It just took a week to forget what the elites do to someone/group that goes against the natural order. Hedge funds screw individuals - no problem. Individuals band together and screw hedge funds - HELP MEEEE PLEASSEEEEEE, THEYRE BEING MEANNNNN.

And I wanted to correct myself - there's not an exact expiration since that only applies to options - which in that case, you could just rebuy the contract to close it off. These were shorted shares that....will at some point... need to be paid back. It all comes down to whether or not the borrower believes that the price will come down "if I wait long enough" vs the borrowee (?) says "I want my shares back now, since I don't think you'll be able to afford it if it keeps going up."

On an aside - it'd be a massive troll move if it turns out DFV unveils himself as DJT. :rofl:

What do you people think will be the next "fuck the hedge funds" play (or if there will be one at all)?

AMC, BB, NOK all look like they could be the next GME...

Also, give this video a watch/listen to hear one of the big and very rich investors tell CNBC to fuck off... https://www.youtube.com/watch?v=hu-z...ature=youtu.be

All different. None of them are overshorted.

There won't be. GME is a once in a lifetime squeeze to fuck the hedge funds. After the dust all settles, I doubt we ever see any stocks so cheap, shorted so much, that can build a fan base around it.

I think it might not be a bad time to take your gains and run - the MA Sec of State is calling on the exchange to halt trading in GME for 30 days, and I imagine there will be more to come. One of the great unfortunate truths is that politicians of every stripe are in the pockets of the money men. This kind of thing is likely to threaten too many of their big-$ buddies, so it must be nipped in the bud.
Not a promising sign when this story starts showing up in the local morning news.

I do not think we will see another GME, but I do think we will see similar stock price surges brought on by WSB hype. In fact, surges in the stocks I noted above have already happened. People are looking for the "next GME". You can't even google "gamestop short squeeze" without getting articles that are some variation of "It isn’t just GameStop: Here are some of the other heavily shorted stocks shooting higher".


If this happens, there better be protesting in the streets.

It’s a bit ironic that this is a huge opportunity to make bank by shorting GME, assuming you can find a short option. The gummint and big players will drive it back to the 20’s or 30’s before too long, so the hedgies might be able to get some back.

I thought about this exact thing yesterday. I don't think I would short it yet, but if it hits anywhere near $1000 I will be looking into that.

All fixed, all the time
 

https://twitchy.com/sarahd-313035/20...-free-markets/

The level of corruption on wall street blows my mind, but right now there are a lot of pissed off retail investors who are moving to new trading platforms. I am hoping that everyone comes back into these stocks with a vengeance in the next few days once they have funds verified on new trading platforms. Time will tell...

I thing GME finishing above $200 today was a win, despite the day as a whole.

Today was a blatant short ladder attack that was executed by the hedge funds after they schemed to significantly reduce the number of retail investors that have previously combatted these short attacks.

If you look at the volume, this strategy was effective at driving the price way down, but didn’t cause that much of a “scare sell-off” and even with the lack of retail buyers, the price quickly recovered back to $200/sh and above.

To me, it felt like today was the hedge funds last haymaker...thrashing in their death throes. If RH and the other con artist Brokers open GME purchases back up to everyone there’s a possibility the price recovers more tomorrow and another Gamma squeeze will begin.


The fraud executed today is so blatant, it’s mind boggling...

etrade was lagging so badly before it got locked down. :(


But
https://cimg9.ibsrv.net/gimg/www.mia...276d4dcb5f.png

On a side thought. Couldn't these hedge funds just buy calls and let the sueeze happen? Price goes up, their calls skyrocket, and then they close out their calls, and use the money to buy back shares? I think I'm missing an intermediate step.

Does anyone know where to get up to date short information on a stock? I would like to see how many closed out their positions when it was in the 120s today.

A quick snapshot perhaps?: is the squeeze squoze yet?

That is hilarious and useful. Thank you!

I never took interest in the stock market until all this stuff with GME. I threw in a couple hundred, mostly on AMC because I couldn't jump on GME when it was sub 200 because of RH blocking buys. If anything I learned a lot about a subject I knew nothing about and its been fun doing the research.

Diamond Hands :)

This is definitely a wild time. I just hope something similar happens again in my lifetime so that I can use the lessons I learned to make more money!


Some shorts definitely got out. But I doubt it was the big ones like Melvin. I think the 2.75B they got was to help them weather this storm so they don't have to close shorts when the price is so crazy. I think they are trying to wait out the retail investors. 💎🙌

https://cimg1.ibsrv.net/gimg/www.mia...a71c1b2ff3.png

Lol that's a good one!

Bubble or not though, plenty of people have a made good money on this event. Plenty more people will make good money when GME heads back below $100 where it belongs. I actually think it belongs well below $100, but I expect it to hover higher for a while after it tanks. But time will tell...

Anyone planning to short it when/if the short squeeze occurs? I think if it gets anywhere close to $1000 it is going to be tough to resist shorting it (assuming you can get the order filled).

I've now taken profits four times, and earned enough to drop cash for a new 2020 Grand Touring. Now I'm playing completely with "house money", so I'm not so worried about losing it. My very optimistic limits are set, and time to hang on for a wild ride through Monday and into Tuesday. To the f*cking moon. Let's GO!

Said I was "out" earlier, but saw too many amazing buying opportunities to sit out. Turns out you can make a lot of money in a matter of minutes when you buy the dip :-)

AKA I’m a paper handed b*tch...

:giggle:

Diamond hands baby. In GME and XRP.

I had 10 shares before market opened on Friday. I resisted the urge to sell at 380 because I wanted more. I knew the 'ladder attack' was coming and at some point price was going to drop so I waited and luckily jumped back in just at the right time. I got 10 more shares at $251 ( lowest point yesterday ).

I know these numbers are pitiful but if I was more of a 'paper handed bitch'. I could have had a couple more shares. Just saying .. sometimes its better to be a paper handed bitch.

FTFY

Now that the GME craziness is dying out, I am wondering what some of the investors here are thinking the big moves will be for 2021.


I personally think that the housing market is going to perform well in 2021 for the following reasons...

1. low interest rates. This one is pretty self-explanatory, but even if rates rise, they will still be relatively low. Low interest rates = more people trying to buy homes.

2. inventory is going to start recovering once everyone starts getting vaccinated. In my area and many others, it is nearly impossible to buy a house right now because there is so little inventory. I think people are afraid to sell their houses because they don't think they will be able to find something to buy if they do. Houses in my area are under contract within 24 hours after listing and always for well above the asking price. My wife and I went to look at one property the day it was listed a few weeks ago. While we were there, 6-8 different groups of people showed up to view it. There was literally not enough parking for everyone that was trying to see the house. It ended up under contract by the next day for 411k (listing price was 380k). This is how it goes at every single property we have gone to see, of which there are already few. I cannot bring myself to buy a house in this market and there is no way I am alone in this mindset. I think once inventory goes up, all of the people who think along the same lines as me will be ready to buy with plenty of savings in hand.

3. lots of people now working remotely who were not working remotely prior to covid. Good point z31! I am in the same situation and can now work from anywhere and do not intend to ever go back to an office. I think a lot of people are in this same position, which means a lot of people are going to be looking into moving in 2021/2022. This will result in more home buying.

4. online presence is now almost a requirement for a company to be successful thanks to covid and working from home. This brings us to Rocket Mortgage, Porch Group Inc., and other similar e-mortgage/e-housing companies that I think are poised to do well in 2021...


Rocket Mortgage (RKT) is pretty well known at this point. Their fundamentals are not great, but I like their business model. I also think that as younger people start buying homes, they are going to be drawn towards companies like Rocket instead of walking into banks and having to talk to someone in person.

Porch Group Inc. is a company that I first heard about on Mad Money with Cramer. I am not completely confident they have what it takes to change the housing/moving industry, but I do like their business model and know many people who have paid for services similar to everything they offer.

There are many other companies that I think could do well in 2021 for the reasons listed above, RKT and PRCH are just a few that I have looked into the most.

What does everyone here think?

If we didn't have a bunch of animals, I'd put my house on the market now and we'd go find another fancy downtown apartment to live in.

I'll be working from home permanently if I want, so the ability to pack up and go somewhere easily is very appealing to us.

Another good point, more people able to work remotely = more people wanting to move. Added to the list!

I think a big move everybody is looking at is the "Aphria/Tilray merger arbitrage." They are both marijuana stocks and cover different parts of the industry. With marijuana legtalization becoming a hot topic weed stocks, as seen during today's market, is becoming super popular.

"Aphria Inc. is now trading at a discount to the terms of the deal announced in December that would see the two companies (APHA and TLRY) merge and become the biggest cannabis company in the world by revenue, he said.

Under the terms of that deal, Aphria shareholders will receive 0.8381 Tilray shares for each Aphria share they own. Tilray shares were last quoted at about $56, while Aphria shares were quoted at just $26.80, meaning an investor can currently buy two Aphria shares for less than the price of one Tilray share. "


The industries I'm focusing on currently are clean energies, semiconductor and marijuana. I've been eyeing some REITS because as you suggested I think once covid is over lots of people will look to uproot themselves and move or at least try, there was a max exodus of people leaving NYC and moving upstate where I live. I should have put my house up for sale when that bubble was at its peak, but I dont think its popped yet and I'm hoping that this summer the market will be hot and I won't have to sit on a for sale sign for long.

GME crazies are back! :makeout:

Tomorrow should be interesting, I've still been holding everything from back when it was $100 pre-first-crazy!

Diamond hands bro! HODL! Lolol

Thanks for the tip on that. Nice pop today. I think there's a ton of upside there. :likecat:

I've been looking through some REITS for the reasons you listed above.

I still like the stock

stonks only go up.