GameStop Stock surges due to meme traders

[Trunkage]

It is infuriating that the powers that be had to step in to regulate the so-called "free market" as soon as the little guy dared to make money that "naturally belongs" to the rich. Fuck Wall Street, fuck the SEC and fuck the US Government.

I think that a lot of what is happening is an automatic response. Next, you have to be careful to not inflate the price too quickly

Also, when did redditors get so much money?

 

[Adam Jensen]

I think that a lot of what is happening is an automatic response. Next, you have to be careful to not inflate the price too quickly

There should be no response. Free market is supposed to be free. If you lose, you lose. You go bankrupt and go kill yourself if you can't cope. Any attempt by the regulators to control what's happening is an obvious scheme to tilt the market in favor of the hedge funds and screw over individual investors.

 

[Dwarvenhobble]

I think that a lot of what is happening is an automatic response. Next, you have to be careful to not inflate the price too quickly

Also, when did redditors get so much money?

I mean it's not that hard.

~1.5 Million members of Wall Street bets when this started
46.89 Million shares available
Initial share price when the plan started was $4 a share
71.2 Million shorted
Basically if every redditor on Wall Street bets bought ~40 shares meaning a spend of ~$160 then Reddit as a community owned almost all the the publicly available shares on the market.
All this screws over short seller who have to come up with shares to replace the shares they borrowed to short sell in the first place.
Also as you'll note there were more shorted shared than publicly available and in fact more than the number of outstanding shares for the company.

According to Yahoo Finance the market at present and institutions claim to own 122% of the shares for the company while the company claims to own 27% of it's shares. Which means some-one is lying and it looks most likely to be the market.

Once you start to buy up the stock left it will create almost a self perpetuating cycle where short sellers rush to buy shares to avoid losing money which drives up demand more.

 

[Agema]

I haven’t walked into an EB games for a decade. I’m surprised they are still around

Judging by my bookshelves, the last game I appear to have bought a physical version of was Skyrim.

 

[Dwarvenhobble]

Judging by my bookshelves, the last game I appear to have bought a physical version of was Skyrim.

That tells us very little considering how many re-releases it's had lol

 

[Trunkage]

There should be no response. Free market is supposed to be free. If you lose, you lose. You go bankrupt and go kill yourself if you can't cope. Any attempt by the regulators to control what's happening is an obvious scheme to tilt the market in favor of the hedge funds and screw over individual investors.

I don’t know if you have noticed but when people say they are ‘Capitalists’ or ‘Laissez-Faire’ speak about ‘Free Market’ it’s always about regulating the market for their benefit.

What you are talking about is real Capitalism and no one, not even Capitalists, actually want it

 

[crimson5pheonix]

 

[Trunkage]

I mean it's not that hard.

~1.5 Million members of Wall Street bets when this started
46.89 Million shares available
Initial share price when the plan started was $4 a share
71.2 Million shorted
Basically if every redditor on Wall Street bets bought ~40 shares meaning a spend of ~$160 then Reddit as a community owned almost all the the publicly available shares on the market.
All this screws over short seller who have to come up with shares to replace the shares they borrowed to short sell in the first place.
Also as you'll note there were more shorted shared than publicly available and in fact more than the number of outstanding shares for the company.

According to Yahoo Finance the market at present and institutions claim to own 122% of the shares for the company while the company claims to own 27% of it's shares. Which means some-one is lying and it looks most likely to be the market.

Once you start to buy up the stock left it will create almost a self perpetuating cycle where short sellers rush to buy shares to avoid losing money which drives up demand more.

I mean, that sounds astonishing only because they were able to coordinate 1.5 million people.... on GameStop of all things

 

[Gordon_4]

Judging by my bookshelves, the last game I appear to have bought a physical version of was Skyrim.

I still buy from mine pretty regularly; but then I’ve had superlative fortune that the ones I buy from aren’t staffed by monosyllabic holograms. They’re staffed by nice and passionate people. Not a lot of PC gaming nous in them but that scene went digital long ago.

 

[crimson5pheonix]

Fake, but good energy.

 

[Dwarvenhobble]

This isn't fake though

Discord bans the r/WallStreetBets server, but new ones have sprung to life

Discord says it did not ban the server due to financial fraud.

www.theverge.com

 

[Specter Von Baren]

I don’t know if you have noticed but when people say they are ‘Capitalists’ or ‘Laissez-Faire’ speak about ‘Free Market’ it’s always about regulating the market for their benefit.

What you are talking about is real Capitalism and no one, not even Capitalists, actually want it

You're not that far from the glorious communist utopia of North Korea ya know, surely it can't be too hard to move there.

 

[Kwak]

Has the spiffingbrit released a 'the stockmarket is a perfectly balanced game' video yet?.

Are stock markets crucial to capitalism? Can we have one without the other?
Does it actually do anything good for society?

 

[Dirty Hipsters]

It's all fun and games until poor people learn how to play.

 

[The Rogue Wolf]

You're not that far from the glorious communist utopia of North Korea ya know, surely it can't be too hard to move there.

So criticizing unregulated capitalism is advocating for communism? How much lube did you buy to squirt onto that slope?

 

[crimson5pheonix]

 

[Dwarvenhobble]

Oh I'm sure they can simply move to a 5 bedroom home instead of their 15 bedroom mansion and have more to live on than most people would make in their lives.

 

[Dirty Hipsters]

 

[TheMysteriousGX]

Convinced me to become a temporary capitalist.

I didn't have enough for a GameStop, but I've got ~16 Nokia and ~7 AMC

 

[Dirty Hipsters]

Convinced me to become a temporary capitalist.

I didn't have enough for a GameStop, but I've got ~16 Nokia and ~7 AMC

Go for BB for the trifecta.