dleavitt

iTrader: (1)

wherestheboost

iTrader: (-1)

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.

DNMakinson

iTrader: (3)

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

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

wherestheboost

iTrader: (-1)

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.

JD8

iTrader: (2)

What do you people think will be the next "**** 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 **** off... https://www.youtube.com/watch?v=hu-z...ature=youtu.be

wherestheboost

iTrader: (-1)

All different. None of them are overshorted.

shuiend

iTrader: (24)

There won't be. GME is a once in a lifetime squeeze to **** 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.

xturner

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.

JD8

iTrader: (2)

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.

xturner

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.

JD8

iTrader: (2)

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.

xturner

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

JD8

iTrader: (2)

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...

Efini~FC3S

iTrader: (4)

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...

Erat

iTrader: (5)

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


But

wherestheboost

iTrader: (-1)

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.

JD8

iTrader: (2)

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.

fooger03

iTrader: (2)

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

JD8

iTrader: (2)

That is hilarious and useful. Thank you!

phocup

• short interest: 75.54% of float by Ortex, 113.31% of float by S3 Shortsight
  
  So it looks like like the shorts have covered a good chunk of their position if Ortex's number is more believable than S3 ? Yesterday that was at 100% and 120% respectively ( IIRC ).