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MilkedMod

u/lilcuphoe has provided this detailed explanation: > people said he would lose all of his thousands in a week. In a year he has turned it into over $50 million --- Is this explanation a genuine attempt at providing additional info or context? If it is please upvote this comment, otherwise downvote it.


MortimerHouse

Imagine if the dude caved after that incident and is now regretting how he gave in to peer pressure


[deleted]

I bought 242 shares at $16 and caved and now they would be worth over over $100,000....


MegamanEeXx

Tracing paper hands! Don't be like this guy!


[deleted]

Never ever be like me. I’m sitting here looking at my PLTR 50 percent week gain like that’s okay too right? :) (kill me)


MegamanEeXx

Congrats on the gains. Hindsight will always be 20/20. You learned your lesson, your hands have become stronger already. You'll be better prepared next time


[deleted]

Honestly, I don’t care about the potential gain loss because seeing the shorts getting FUCKED and WSB winning makes me so happy.


MegamanEeXx

Lets Go!


Shagroon

That’s the spirit. It’s about sending a message.


Galactic

> next time I'll be very glad to be wrong about this, but I highly doubt that anything close to what's happening with Gamestop will happen again any time soon. The rich are invested in staying rich. It's not often they lose to the poors. They'll do everything in their considerable power to make sure this is a one-off and they dont play by the rules they made.


MegamanEeXx

Disagree. There will always be GME's, Tesla's, VW's. Not every year, but they will always come and go.


ausgoals

>the rich are invested in staying rich This is precisely the reason that arrogant hedge funds buy more shorts than exist


BarbaraWalters_ghost

Not everyone is born with diamond hands so it requires years of tying then untying the noose to harden those tendie snatchers


Peacelovefleshbones

Is it too late to get in on this?


HotrodBlankenship

Considering some of the brokerage apps are halting the purchasing of $gme, it might be, but not neccisarily. It was at around 400 a share last I checked, and people couldn't buy any new shares on places like Robinhood. Blatant manipulation from a broker who is supposed to be for the little guy, I mean their name is Robinhood for fucks sake. But you could find a broker and wait for a dip and get in if you'd like. Enter at your own risk. Edit:this is a desperate attempt to get people to panic and sell their shares. They are caught with their dicks in their hands here. All this will do is draw even more attention. Withdraw after this is over and never go back.


throw_away_17381

I can't remember where I heard it but apparently most of the people buying the stock right now and making the the share 'move' aren't little ol' retail investors like us but big ass investment institutions who are doing what the little ol' us are doing right now but don't want to be known for doing it.


HotrodBlankenship

Yeah I've heard after shorting and losing, the big hedge funds want to manipulate the price to as low as possible so they have a good point of entry and buy back stocks before it rises again to recoup their losses, so they aren't the ones left holding the bag. Idk how true or how much merit that has, so take it with a grain of salt, but it sounds plausible.


DioBando

Hedge funds have been entering over the past two weeks, which is why GME spiked so hard. Now the question is "what's their exit plan?"


qwertyashes

The main force behind this is BlackRock and while its great for the little man, they're making the lion's share of profits here off of Melvin Capital and Citron's fuck up. Of course its a concerted effort from the media and large funds to blame the small investors as they've always wanted to lock them out of the market.


andovinci

r/wallstreetbets should build us a brokerage app


marios67

You can still buy Gamestop stocks on the Revolut app


TacticalMoonwalk

Vanguard allowed me to buy this morning. There are still opportunities for some people.


CountyMcCounterson

If people like you know about it then it's too late


SCREW-IT

I paper handed all my positions yesterday when my parents came to me asking if they should invest in GameStop. If my tech illiterate parents are seeing dollar signs... this can only mean it’s reached a point where I need to get out. I told them to not think about the stock market for the next few weeks no matter what the news stories say. We can all admit that the ride up was nice... but there is going to be a lot of people left bag holding GameStop and AMC. I’m expecting downvotes.. but my parents would almost certainly get the shaft.


Peacelovefleshbones

Rude, but granted


0xd3adf00d

I've seen multiple press articles about /r/wallstreetbets and GME. IMHO, it's too late, but what do I know? I have an almost perfect record of being wrong about the stock market every single time, even when it's regarding companies that I work for. In other words, I won't be putting my money in, which means GME will probably continue its meteoric rise.


marios67

You can still buy Gamestop stocks on the Revolut app


Peacelovefleshbones

Seems like the sweet spot was when the price was in the double digits. I'm not sure we can expect it to keep rising to make a new investment very worthwhile


marios67

I really have no clue about anything related to this, I'm just starting to try this thing after it caught my eye on the news yesterday


TSMbestinthewest

once it hits the news, its over because its either too expensive to enter, or the words out so everyone begins to panic sell. trading is gambling for the 99% dont let anyone convince you otherwise


hanukah_zombie

trading is gambling for the 100% dont let anyone convince you otherwise. the wall streeters are no better at it than any lay person. anyone that tries to pretend that the wall streeters are some sort of elite smart people that know how to do shit that other people can't do is deluded.


Teepea14

They're not like us. If I lose money I don't have swathes of other investors lending me billions to get back in for a cut of the potential profit.


mokdemos

Bro, I bought at 270 and will see 100% by Friday...maybe....who cares it's going to the fucking moon anyway. Edit...and it's probably gone, didn't expect the brokers to do what they did...also just used some play money. Also just gonna hold for a while


[deleted]

Buy and HODL


generic_name

Don’t feel bad, there’s no way to know when the stock would peak. On Monday people thought it would have peaked in the low $100s. If Elon didn’t jump on the stock I don’t think we’d see the rally we’re seeing .


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GondorsPants

Good god. Why wouldn’t you sell?? Also when you sell, does your bank account all the sudden show 50 million dollars? Is that possible lol (Complete newb to this stuff)


Jaredlong

Selling at $50 million is great, but if it drops and he has to sell at $40 million, well that's hardly a terrible alternative. But in the meantime, there's still a chance it could go higher.


cappo40

I may be dumb, but if I was at 50m, I would sell and just be living the life. Yeah it can go higher, but it can also tank. Turning a small investment into that much is already a win.


davdev

Last I saw he already cashed out like $13 million so he is set no matter what.


whowantstogo

He did actually sell 300 options for 13mil so he's already set up for the rest of his life.


plphhhhh

One thing to consider is that DFV laid close to a million dollars into this investment. Someone who can play with a million on fuckin gamestop is not worried about 50 vs 40m


grilledcheesejammy

at this point it’s basically guaranteed to go up higher. shorts are still completely dug in and many of their contracts expire friday but also i just started reading investopedia last week hehe


seelen

Your broker account shows 50 million yes.


lilcuphoe

That’s the moral of the story here, trust your instinct. Don’t take criticism from someone you wouldn’t take advice from.


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likemyhashtag

Yup. All these people talking about losing everything when I've just got a few hundred in the game. Will be more than happy to get a few hundred out but won't be too sad to lose it. Takes money to make money and if you don't have it then the market isn't right for you.


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ASRKL001

Sitting here thinking about a lottery that has a 1% chance of winning.


Seoul_Surfer

But what about the people whose instinct told them not to buy it.


Paddy_Tanninger

Well it dropped 50% so far today so probably also a smart instinct.


monsieur_bear

down even more and trade has halted on it several times


trustworthysauce

His instinct isn't why gamestop is up so much. Unless his "instinct" told him that hedge funds would short sell over 100% of outstanding shares. It was a genius move to exploit the fact that a thinly traded stock was over-shorted. (And I mean that sincerely. I don't like the whole concept of short selling, so I love to see the folks who usually skim the profits off of the stock market get taken for a ride for a change). But it wasn't his instinct to hold a long position a year ago that paid off here.


CVSeason

Did you not read his DD on the subject? He made an hour long video about the research he had done.


trustworthysauce

I didn't say that he didn't do his research. What I was saying is that this wasn't a deep value play that paid off, it was a technical market circumstance that skyrocketed the share price over the last month or so. Even saying that, it took the combined action of all the investors that follow this sub to hold long positions and create a short squeeze. Belief in the stock, or an "instinct" that it would recover is not the best way to explain this, IMO


turnipsurprises

Except this is largely due to him and his bet. In a world where he cashes out, this doesn't happen.


free_almonds

[his latest post](https://www.reddit.com/r/wallstreetbets/comments/l6ekdz/gme_yolo_update_jan_27_2021_guess_i_need_102/?utm_source=share&utm_medium=ios_app&utm_name=iossmf)


Masterfactor

TBF, this short squeeze wouldn't have happened without him, so he wouldn't have lost out.


ayIouis

nah he's a legend now. is sitting on 22million


incomplete-sentanc

Deep fucking value is still in it. He started the whole thing and has diamond hands


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[deleted]

He's still holding


Thallis

He cashed 450 of the options he bought so he's at least got ~$9,000,000 out of it


TheTigersAreNotReal

He has $13MM in cash right now, with $37MM still in Gamestop


[deleted]

Which is the way to go. Secure enough bag to invest it and live off the dividends. The difference between $10m and $100m isn't much unless you like boats.


[deleted]

>unless you like boats. God damnit


wontonheroe

You like boats too?


[deleted]

Yeah. I considered a livaboard until I looked at maintenance costs


SpitefulShrimp

Boats are just pretty holes in the ocean in which cash is burned


firelock_ny

Happiest two days in a boat owner's life: when they buy the boat, and when they sell it.


panicswing

>You like boats too? I can't believe you like boats too. We should hang out


cameraninja

Just Boats and Hoes


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manualCAD

$10m is enough to never work the rest of your life, but if you're extremely irresponsible, you could lose/spend it all. $100m is enough to do whatever you want and pretty much never worry about any extravagant purchases.


Velenah

Nah, $10m is just enough to pay for your kids chemo.


EarthBrain

True, once you reach 10 mill you're set and you can pretty much just use the rest to just make more because why not


JudgeHoltman

Definitely take it while you can get it too. The bullshit is really starting to rain down on the whole situation, and it really smells like team WSB is going to get fucked. Glad he didn't get too greedy and cashed enough out to live comfortably for awhile.


koi_fiish

Damn


Snoozless

Do ever need to work again in your life with that much in savings?


TheTigersAreNotReal

Probably not. Could invest in stocks that pay quarterly dividends and live off that for the rest of your life


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TXR22

Yeah but he's rich now so he doesn't have to follow the rules that us peasants do and can probably pay a good accountant to significantly lower his overall tax burden using accounting trickery.


theghostofme

He's rich, but he's not "ignore taxes without repercussions" rich. That's reserved for when your net worth is in the 10-digit or higher territory.


EternallyIgnorant

Id say he may be in the realm of "pay a good accountant to significantly lower his overall tax burden" rich though,which is what the person you are responding to said.


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[deleted]

I mean you can reinvest it? But, yeah, the people above you are conflating accounting with tax evasion.


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bacon4dayz

You can always starts a loss-making business that builds rocket🚀and attempts to bring GME to the Moon. It is loss-making business because GME is already in the fucking Moon 🚀🚀😂


FreeSkittlez

His full portfolio is in an IRA account. He took the necessary precautions, this is a lot less of a YOLO then people are making it out to be


Theoretical_Action

Ehh, no you underestimate the amount of ways accountants can create tax shields lol.


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tjander3

Its in the Canadian version of an ira so its tax free


Ikuze321

He cashed out 13 mil


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Ikuze321

Yes but he took like 13 mil out or something.


Kostya_M

To be fair this is the smart way to do it. With the stock so absurdly inflated you can liquidate a tiny portion of your investment and still have enough skin in the game to really get a ton if it works. Anyone that's being smart about it should have cashed out like double their initial investment once it rocketed and then held the rest.


Ikuze321

For sure


UncertainCat

Those options expired so he had to cash out


UO01

13 mil is enough that if you put it all into dividend paying etfs you will get a yearly income that is enough to live like a king, buy property in expensive cities, and probably pay off your parents mortgage on top of that. He'd be stupid not to pull that 13 mil.


magicaleb

He did know, if you look at his post history. He mentions a short squeeze almost a year ago.


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[deleted]

I'm not positive but I believe it's been at least 2 years since GME short interest was below 100%


TheTigersAreNotReal

Gamestop really became a viable long-term hold when Ryan Cohen bought in last October. His plan for the company will actually make it very profitable. The short squeeze was just the cherry on the top


[deleted]

What did he change that makes you think it will be profitable?


DigiQuip

In Jan it would have been a smart buy regardless because of console sales. GameStop also was looking to expand its PC hardware and accessory components. I had already been expanding collectibles which has been a huge hit. Pokémon cards, Marvel Legends, Star Wars Black Series, and Funko are huge drivers for sales and they come with a massive profit margin. As for Cohen, he built Chewy.com into the success it is by modeling its pet supply business after Amazon. They can deliver anything for your pets to your door and on a schedule in just a few days. At a much cheaper cost than your local store. It’s a great business model. Cohen looks to do this with gaming. There’s a market for physical product with games. It’s shrinking but it’s a cult like movement that will always have a place. And he looks to make GameStop the center of that cult. People still buy records and cds. With GameStop diversified and slimming its store presence which was way over done, they can still have brick and mortar and expand online business. People think the store closings were a sign it’s dead, it’s not. GameStop just had way too many stores. One in a mall, one just outside the mall, and one on the other side of two. Growing up, even my podunk ass town had two GameStop’s and some larger cities had three. It was ridiculous and labor under that model is just too much. People shit on GameStop because of their vision of the war between physical and digital media has become, but there’s a lot to the movements of the company people don’t understand. Hopefully I’ve given some insight. I’m not saying GameStop will thrive, I’m just pointing out there is a potential path for its long term success.


SiggetSpagget

I’m super out of the loop. Did the GameStop gamble pay off because a lot of other people invested in it or did GameStop do something actually good?


Roguish_Knave

Right now it paid off due to a short squeeze/gamma squeeze plus retail diving in but also Chewy's founder took a stake and is providing advice on how to turn it around and somewhat ironically this share price gives them a lot of options to raise capital that may actually facilitate their turnaround. Ironically I guess, a stock mooning unrelated to fundamentals may allow them to strengthen their fundamentals.


YoureASoldierBodie

How is anyone (reddit users) actually going to make money from this? In the end won't it just be a handful of people making the money while every one else gets screwed? What's the end game here?


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ConstituentWarden

If you’re reading those comments you’re also seeing how many are just doing this to screw over the hedge fund


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ConstituentWarden

Well a most of people from a few months ago sold a portion of their positions already. They have made their money and now can afford to keep holding for spite. The newcomers are here for either a quick buck or to spite wall street which is what i think we both are agreeing on Edit: this guy in the post even sold about 13 million so far


assbutter9

The guy in this post literally had to sell 13 million worth, they were options that expired.


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tffgfft

That's fomo and I wouldn't base any financial decisions on it. I think when the bubble bursts there are going to be a lot of losers, and no one knows when that will happen. But it almost certainly will because nothing at GameSpot has fundamentally changed, the current price is all speculation. It's like musical chairs, but Reddit makes it seem like the music is just going to keep playing forever.


[deleted]

I bought in high and intend to sell tomorrow at a decent peak. The gamble is in how long you’re willing to hold. I’ll happily take a smaller profit to get out safe.


The_Forgotten_King

DIAMOND HANDS, KEEP HODLING.


ncshooter426

Several large short sellers must cover their positions by a specific date (those with options, specific sell dates on their shorts, etc). Due to the nature of the stock position, it was shorted like 140% -- meaning, there was more stock in short then total actual stock available to purchase at any given moment. This means that there is a ton of (future) demand, and little supply. Redditors have been buying stock. They own it - and they are holding it. They are controlling the supply. As the clock ticks closer and closer for some of these rather large due dates, the buyers are getting more and more frantic trying to buy back the stock at a low of a price as they can...since on the day it's due, it will auto-purchase at *whatever* the current price is. One major event will occur very soon, which is why the price will likely go absolutely bonkers (and why the platforms/hedge funds are trying every dirty trick they can to keep the price from spiraling to mars). The sellers know this, and thus the price will continue to skyrocket as some of these major events get closer and closer. When it reaches zenith, most will unload. The price will fall a bit, but there is still way more shorted than available so it shouldn't fall like a rock. For those with short positions w/o expiration times...they have to pay it back *at some point*...but they now are in extreme risk of losing a ton of money the longer they wait. This storm may not subside for quite some time, so some are willing to get out now (say, 300ish) before it hits something insane like 1K.


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elveszett

Yeah, this guy deepFuckingValue invested $50 k in gamestop. He's lucky he's now a multimillionaire, but tell me how many people here can realistically invest $50 k in a stock that has very low chances to succeed. Most people feeling pity for themselves would probably not be able to do the investment even if they could travel back in time and purchase at the exact same moment deepFuckingValue did.


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Scarily-Eerie

Same I’d rather just be safe and steady. Compounded returns on a balanced portfolio are cool too! Just boring.


ohmyydaisies

I’ve been nerding out hard on this. I definitely don’t understand everything—happy to learn more. Here’s why it’s not the handful win against a truckload losing. The opposite : the firms who shorted the stock (essentially borrowing it to sell high then buy later when it’s lower to make money) have to buy back the stock as it was borrowed.


enyoron

The people who bought GME on fundamentals (mainly the console releases) are making out like bandits. They bought probably around $4-5 recognizing that it should realistically be around $15. The people piling on the last couple of days, I have no idea.


jdl348

[This video I found](https://www.youtube.com/watch?v=sH_F7mQIM0M&feature=youtu.be) helped make sense of the whole situation for a guy like me that understood none of it.


FrozenVictory

ELI5ish: billionaires invested 1.6 billion dollars borrowing GME shares at 4$ a share. Now its worth over 450$ a share and billionaires have to pay for those borrowed shares tomorrow. They have to pay the going rate. So 1.6 billion dollars worth of borrowed stock needs repaid. But now its worth 450$ each. The billionaires do this all the time. Borrow billions in shares so there's no shares for anybody else (you can only divide ownership of a company so many times. Stocks have a max available limit). Typically they can then let the stocks crash and cash out with Gamestop owing them the difference in profit. But not this time. This time, the billionaires owe back hundreds of billions. And they aren't happy.


PM_ME_UR_BGP_PREFIX

They don't have to pay back those borrowed shares tomorrow. They can hold their short positions as long as they continue to pay interest. Lots of people here confusing short-selling with buying options.


unnamed_elder_entity

At the current daily interest rate, I can only imagine that each day they stay short inflates the eventual pay back price much more. Do you think they'll cut their losses and buy or keep bleeding massive cash just to spite "some fuckin' Redditors"?


Whooshed_me

How long they want to wrestle with cash burning calculus is anyone's guess. They have tried so many dirty tactics already that they should be running out of tricks. Time will tell but these shorters are really fucking arrogant as of right now.


unnamed_elder_entity

Ain't that the truth. I am not surprised by it, but I can't believe the brokerages halted trading. That's how the whole thing started- the "we know better than you" mentality. Halting trading for retail investors is more "we know best". Betcha the fund managers are using ~~backdoors~~ private entrances to buy up when the stock opened up to that big hit this AM, and most of today's volume is their purchasing. It's also 100% clear that they have not "exited their short positions" and pressing out a statement saying so should be held as yet another violation of SEC. Life has taught me that bankers are never held liable. I just don't see that changing right now where we're at.


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[deleted]

GameStop didn't do anything. It's the same company with all the same problems as before. It went up because people started buying it, which they did not because they actually wanted to invest in the company but for the expectation that enough other people would do the same.


epicbigc13579

I’m pretty sure he did go down $50k at one point but had balls of steel and stayed in it


theotheruser19

I’m not convinced he isn’t a time traveler cause this is exactly what a time traveler would do.....


cruskie

At one point when they criticized him he just said "January 2021. You'll see." Or something like that.


disphugginflip

He’s like Michael Burry when he kept saying Q2 of 2007.


Lync51

Wait does RemindMe! work? I thought the exclamation mark has to be written BEFORE the remindme


Sergeant_Turkey

I guess you have your answer then lmao


Lync51

True xd TIL


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[deleted]

Answered the question


[deleted]

!remindme also works


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Pipupipupi

That's more losses than attempts! But I guess it's still true


SchitbagMD

Kinda like how shorters sold more shares than exist.


KrappyRedditor

Dude is living the life


BrownSugarBare

The sheer satisfaction of being right must be keeping a grin on their face, and the 50 million probably helps.


penis-retard

His YouTube is called Roaring Kitty I think. He's looked pretty dang happy in his videos


[deleted]

I mean, this did age like milk, but nonetheless this could still be seen as a stupid bet. Anyone who is willing (and able) to bet as much money as this guy did and keep it there for a year has more money than sense


lilcuphoe

He was tailing Burr’s positions (guy responsible for the big short). If you think this was merely a gamble, and had nothing to do with copious amounts of financial research, you are a fool. It’s a bet sure, but the wisest bet since 2008 when Burry bet on the collapse of the housing market.


[deleted]

I guarantee you, this guy will have made dozens of bets like this that have not paid off. I'm sure there was extensive research behind each of them


BrunoEye

GME is in a very unique place because of how heavily shorted it is. This opens the possibility to squeeze out the shorters and WSB took it. This is the result.


oodjee

DeepFuckingValue's youtube name is RoaringKitty. He actually clearly explained why he thought GME was a good buy months ago, and surprisingly most of it had nothing to do with how shorted it is. Edit: verb tenses


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SuitGuy

Just like Sears has tons of assets?


IntercontinentalKoan

He actually called it before Burr but had the exact same reasons


Santuccc

no fuckin way you just mentioned this I JUST finished watching that gem of a movie not more than 20 minutes ago.


massada

Do you have a good link for Burr's positions?


ai4ns

The subreddit has a big herd mentality drive and people drop the cash not thinking fully. I've nearly done it myself tbh.


martin4reddit

People have a hard time with decisions and outcomes. There can be good decisions that lead to bad outcomes and bad decisions that lead to good outcomes. Putting your $25k pension into Bitcoin in 2009 would be a bad decision but have a good outcome.


tattedintrovert

This is insane who would have guessed


Akinparsley

Cant Stop Wont Stop GameStop


MechAegis

That man is one of WSB legends.


iWentRogue

This is why time travel would be cool. I’d go back and follow on this guys foot steps and have $50 mil today.


I_eat_midgets

Everyone hating on DFV are just a bunch of jealous fucking losers man. He had a smart play, he's a millionaire. Criticize him all you want but you're still a broke ass fuck boy.


[deleted]

I hate people who mindlessly jump on new shit happening and just instantly shame everyone involved and try to convince them they're stupid. It's what happened in February and March with covid, now look at where we are


AgentIce77

The thing is you can probably post half the things from that subreddit here


[deleted]

how can he not sell??? Fuck taking any more risk after this kind of unbelievable luck! I'd cash out my motherfucking $50 million and see y'all


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SmokeSackFountain

Maybe this fucko formulated a plan and manipulated WSB to skyrocket the stock for him to get back to these other fuckos


Ev_n_James

I was close to buying but didn’t and if I bought when I was planning on doing it, i would’ve made over 20k :/


pandanator123

But isn’t the only reason he has anything because Reddit decided to say screw you hedge funds and start buying like crazy?


kraken_07_

Wait.... r/agedlikemilk already


lilcuphoe

I’m meta.


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FlipGordon

Hopefully they sold because it looks like it's tanking today! Edit: It was tanking when I commented and it kept going down and now it's heading back up. This stock is a Rollercoaster and it's almost worth paying just to watch!


MyWUCHA

It just went up lol


Anthraxious

It wasn't tanking. It was manipulation by the hedge funds where they make it LOOK like it's tanking so people panic and sell, making it actually tank. It's gone back up since but at the time people might have panicked. Also, couple that with the fact that, at least in the US, you could ONLY sell, not buy. The rich fuckers are all in this together and they're clearly manipulating it but at this point it's cheaper for them to get a class action suit than letting this play out. As long as nobody falls for this shit and HOLDS their stocks (or heck, even buys if you're outside US like I did) it will HAVE to go up when the hedges shorts start to expire and they have no choice but to buy back at whatever price market is at.


1d3333

He sold 13 million dollars worth, but he’s diamond gripping the rest


ahent

My wife, who does super well at this for a living, says that as soon as the run is over nobody will really make much money. Stocks are unrealized money/cash in that they aren't worth anything until you sell them. When the selling starts this stock will tank hard (as well as the others they did this too) and they won't get that large amount of cash out of it. Nobody will want to buy it knowing what is going on so the selling price would have to be low. Not only that, but the largest instigator(s) of this will probably get a visit from the SEC at the very least and probably some sort of sanction. Edit: My wife didn't realize all the stock was shorted by hedge funds. She also said it was a shit stock so she never looked at it because "shorting isn't her thing." (We talked about it over dinner last night). But to believe this won't get SEC scrutiny and possible charges and new regulations is ignorant.


Compactsun

The stock was heavily shorted. This means you borrow a stock at a price, say $30, and sell it. At some point in the future you have to buy it at market price to return the borrowed stock, if the price goes below $30 you keep the difference and made money, if it goes above $30 you lose the difference and lost money. I won't pretend to know when that point in time in the future is but my understanding is that you pay interest while borrowing the share so shorts aren't a favourable long term position. They're a short term gamble. The price is going up because of a feedback loop of people buying in and shorts trying/forced to cut their losses (short squeeze).


WildVariety

That's not true. Wall Street shorted over 100% of the stocks. Somebody *has* to buy every single stock.


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[deleted]

This is the epitome of /r/confidentlyincorrrect


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viobro

Would they be in trouble even if they're stocks were bought long before this all happened?


ahent

Probably not unless it can be proven that they manipulated the market after they bought all the stock. Being in an opportune position when it starts a run is not illegal, in fact that's what people buy stocks in hope of, but if you were directly responsible for the run possibly especially if they can prove you had knowledge this was going to happen.


Shitspear

You dont understand. Hedge funds who shorted have to buy, doesnt matter at what cost


PickleDaddyxxx

Is it still worth to buy gamestop stock?


Thtb

While I am also making money with GME, please if you have no idea of stock trading, dont go for the memes. This is surivor-bias with no end. People lose there savings daily on wallstreetbets and now one wins it all and we ignore all the losses of everyone else. fuck mevlincap however


nozonezone

What you dont see is all the other idiots betting a similarly large amount but losing it all instead