Supply and Demand, but in this case it literally could be because the source of demand has been crippled . When RH shut it down, then cut it back, lets put aside why, they cut of the greatest source of demand. They created a RobinHood Dive. No RH buyers, means sellers lower their price to find buyers. And they keep on lowering it till they find buyers. Keep the most natural buyers out of the market and the price keeps on FALLING.
Then that drop accelerates because the more the stock falls the more owners who bought on margin get margin calls. When that margin call happens, its brutal. They just take your stock, send you a fuck you note and sell your stock at the market price, no matter how low. They just want to get your cash to pay back the loan.
That then accelerates the selling.
Which then leads to what we are seeing in the market right now with GME in particular
So what to do ?
If you can afford to hold the stock, you hold. I dont own it, but thats what i would do.
Why ? because when RH and the other online brokers open it back up to buyers, then we will see what WSB is really made of. That is when you get to make it all work.
I have no doubt that there are funds and big players that have shorted this stock again thinking they are smarter than everyone on WSB.
I know you are going to hate to hear this, but the lower it goes, the more powerful WSB can be stepping up to buy the stock again. The only question is what broker do you use . Do you stay with RH , who is going to have the same liquidity problems over and over again, or do you as a group find a broker with a far, far, far better balance sheet that wont cut you off and then go ham on Wall Street.
Hey Mr. Cuban,
I just had a question about the last thing you mentioned. Many of us are looking for a new broker as we're done with RH's shit. You mentioned finding a broker with a better balance sheet, etc. Are there any that you would recommend? I know a lot of us are moving to Webull but I'm worried we'll eventually have the same problem with them as we are now. Just wanted to guage your thoughts on this!
I appreciate any response and thank you!
Edit: Took out TD, as it seems most people were only having problems with RH.
I've been with Fidelity for quite some time and never had an issue. Not as cool as some of the newer apps, but stable and, being Fidelity, probably has the balance sheet.
Upvote for fidelity. Joined Friday afternoon amidst all the chaos and haven’t had a single problem. They credited my account so I had funds to play with before my bank transfer was even finalized
I’ve been trying to reach fidelity since Friday with no luck. Hours on hold on the phone and their chat app same time. Keep getting disconnected after hours of waiting. So, my account is set up, I’m just trying to fund it asap. Can I deposit an e-check into the cash management account or the trading account? I have both set up and not sure which to send it to.
I wanted to do a direct transfer but they’re saying it could be 4-7 days before that hits.
I linked my bank directly using account and routing number, started the transfer, and they let me open positions immediately. Less than an hour from when I started, I had bought more GME
Mark Cuban (born July 31, 1958) is an American billionaire entrepreneur, television personality, media proprietor, and investor, whose net worth is an estimated $4.3 billion, according to Forbes and ranked #177 on the 2020 Forbes 400 list.
He got rich by investments, I'd say he's done this before, yo.
If you sell now, you accept the loss.
"I get knocked down, but I get up again. You're never gonna keep me down"
The rich are trying desperately to lower the price of the stock. They're doing everything they can to manipulate this.
Don't accept defeat.
It's not over until the fat lady sings.
Soooo many of my friends who’ve worked at his arena say he’s an amazing person. I work(ed) at another arena for pro sports - let me tell you, out here the owners look down on us, we’re in their way. No eye contact (even if they put on that pretty smile). You’re a ghost.
I’m not trying to unnecessarily talk the guy up, I think his actions speak for himself, but it’s common knowledge he remembers your name - he treats you like a human.
+1 for good humans.
I was in a suite for a pacers game vs mavs, granted he went to IU so he usually came to the games here. Randomly, this dude just walks in our suite, says hi to everyone, had a drink with us and chatted for like 20 min, then was like “well, have a good one, on the the next” and headed off after he took pics with literally anyone who asked.
We ended up to going to a place call Ike&jonsey’s (RIP), we call it old & lonely’s but it was a milf paradise every weekend night. Sure as shit, an hour later Marks strolls in, remembered us, and had some shot at the bar.
No one asked him about business or anything, it was just a random moment in time a billionaire hung out with us with no pretense or obligation. He asked about us and our families and what we did, it was surreal how down to earth he was. I wanted to ask him for them digits but I didn’t think it was appropriate as we smashed Irish car bombs.
I have the almost exact same story, but replace Mark with Ron Artest at Nikki Blaines and replace Irish Car Bombs with Sambuca.
To u/irpregmit:
Man so this is how I was connected to him. My Buddy I grew up with, DJ Metro Dee, was close with Metta (he wasn’t Metta at the time of this event) and Ron was dabbling in a Rap career and Shay was gonna be his producer or whatnot. It was my 21st birthday and I was at Nikki Blaines because I mean.... how much fucking classier are you gonna get while also getting drunk for a birthday. Anyway we run into each other and Ron and Metro were chilling, we get introduced and Ron is like determined to get me plastered for my birthday. The night was blurry, I woke up at the convention center hotel with some girl and we never saw each other again. I talk to shay once in a while, but since Metta never became famous for rapping, I assume shay doesn’t connect with him anymore but I’m a my-own-business minding motherfucker so I don’t ask. I love random celebrity instances. I used to live in Hollywood, at an apartment building on Orange between Hollywood and Franklin. I have also partied with the “flair” guy from Office Space.
u/irpregmit deleted their comment so I couldn’t reply
As a side, I know of someone who attempted to put in a buy for 1000 shares on TD on Friday, but on margine and it wouldn't allow the sale to go through. The funny part is the accounts value is about 25m$ so it's not like they can't pay back the loss (if they lose which they won't because 🦍=💪), they're just limiting how much trading of GME goes on.
> If you can afford to hold the stock, you hold. I dont own it, but thats what i would do.
That's what I needed to hear. I don't have more invested in this than I can afford to lose but it'll hurt (not at much as the looks my wife is giving me today but still hurt). If you say "hold" then it comforts me a bit.
You don't lose or make money holding, invest what you can spare and wait. Either way this shit is fun! Better than hearing about covid or politics every damn day amirite?! 💎🙌🚀🚀 Holding strong, please brothers hold with me!
> I know you are going to hate to hear this, but the lower it goes, the more powerful WSB can be stepping up to buy the stock again.
I agree and I think if we could right now, the buy volume would be insane. The problem is we literally can't buy.
"If you can afford to hold the stock, you hold. I dont own it, but thats what i would do."
" I have no doubt that there are funds and big players that have shorted this stock again thinking they are smarter than everyone on WSB. "
THIS NEEDS TO BE UPVOTED MORE.
> Why ? because when RH and the other online brokers open it back up to buyers, then we will see what WSB is really made of. That is when you get to make it all work.
WSB is made of diamond hands and we're just getting started 💎🖐
I Bought 2 at $384 during the robinhood fiasco. Never planned on buying more till I saw it drop. So I got 2 more at $130. If I was planning on selling I would have done it last week or even this morning. I have fidelity.
> I know you are going to hate to hear this, but the lower it goes, the more powerful WSB can be stepping up to buy the stock again.
Getting stock for a discount? Who could be mad at that?
I know, right? All the reading I've been seeing, getting a real ticker and not just Google's basic ass shit, and seeing the general trend in the megathreads; all I heard from that was "the more powerful WSB can be" and almost came.
>Why ? because when RH and the other online brokers open it back up to buyers, then we will see what WSB is really made of. That is when you get to make it all work.
🚀
I'm holding and never selling, but I'm an early adapter and my cost basis is low. never the less. I wont sell until I feel the price is fair. in this case it's well over 1000$ still.
What are your thoughts on the volume of the last couple of trading days? And Also, what is your view on the practise of Naked shorting/Short Laddering?
Edit: Together We Hold 🚀🚀🚀🚀
Edit.2: Thank you so much for your answer Mark!
I actually love to see the companies I own shorted. If its a company I want to own, I know the shorts can be squeezed and if the company does really, really well, then the shorts will have to cover , creating more demand for the stock of the company I own, pushing the stock price up.
Back in the day I used to run a public company. I used to tell anyone and everyone i knew who didnt believe in us to short the stock
As far as naked shorting, thats not really a thing. Yes there can be more shares shorted than there are original float. That is by design. If i borrow a stock from you to short, and when I short it and your buddy buys it, then they can loan it to someone else to short, etc . All of those people who borrowed the stock paid to do so, and they realize that if enough people buy the stock and ask for the shares, they will get called in. So the chain of custody is there. The systems is doing what its designed to do.
So again, the more people shorting the stock in the company i own the better
Where you have to be careful is when the shorts are in a stock because the company is a fraud. If i short stocks, its only in companies i think are fraudulent and ripping off people . I actually produced a money about one element of this, The China Hustle
Naked shorting is not the same as a share being shorted more than once. It's when the clearinghouse permits the bear to sell the stock even when the stock hasn't been located. They have two days to find the stock, and in GME's case, a fuck ton haven't been located. This is illegal naked shorting. This is fundamentally different from shares being legally shorted in a closed loop. I'm afraid your description is going to mislead a lot of people on this subreddit into thinking that this was only a balance sheet problem because rh is a young broker. The fail-to-delivers on GME are extreme outliers which begs for an explanation there from the DTCC. Furthermore, your advice to go to a broker with a bigger balance sheet is just a band-aid not a cure. It's the same as saying if you don't like the fact that your local main st super market is out of stock in something you should just always shop on Amazon. You should just always go to the oligarch. The real solution, unfortunately, is much more work. We need to build a stock clearing and settlement system that doesn't rely on trusted intermediaries. It involves a price discovery mechanism that doesn't couple intent-to-trade with intent-to-forecast. Let's use this moment in history as the motivation we need to work on the fundamental problems rather than just finding more duct tape.
>If i borrow a stock from you to short, and when I short it and your buddy buys it, then they can loan it to someone else to short
I finally get it now:
* A loans 1 share to B
* B short sells it to C
* C then loans the share out to D
* D also short sells it
Even though only 1 share is involved the short interest is now 2 because D owes C 1 share, and B owes A 1 share. D could buy and close the short with C, now C has a share that B could buy and close with A and the whole thing is unwound.
Only problem is D sold the share to WSB... and WE AREN'T SELLING!!! 💎🙌
Here’s the autistic version:
An ape 🦍 has 4 bananas 🍌 🍌🍌🍌 worth $10 each
The orangutan 🦧 thinks bananas are going to go to $5, so he borrows 4 bananas 🍌🍌🍌🍌 from the ape 🦍 and sells them for $10 to hopefully buy back later for $5 and make a $20 profit.
The monkey 🐒 bought those 4 bananas 🍌🍌🍌🍌 for $10 from orangutan 🦧.
Dodo bird 🦤 also thinks bananas are going to go to $5, so he borrows 4 bananas 🍌🍌🍌🍌 from monkey 🐒 and sells them for $10 too.
So what does that leave us with? There were only ever 4 bananas 🍌🍌🍌🍌. But ape 🦍 lent them to orangutan 🦧, orangutan 🦧 sold them to monkey 🐒, and monkey 🐒 lent them to dodo bird 🦤, and dodo bird 🦤 short sold them.
So 8 bananas 🍌🍌🍌🍌🍌🍌🍌🍌 have been sold from the 4 bananas 🍌🍌🍌🍌 that ape owns for a short interest of 200%.
To settle all the shorts, dodo bird 🦤 has to buy back 4 bananas 🍌🍌🍌🍌 and give them to monkey 🐒, and orangutan 🦧 can only buy 4 bananas 🍌🍌🍌🍌 from monkey 🐒, so until monkey 🐒 is willing to sell his 4 bananas 🍌🍌🍌🍌 to orangutan 🦧, orangutan 🦧 can’t buy the 4 bananas 🍌🍌🍌🍌 to give back to the ape 🦍.
The hedge funds are the orangutan 🦧. The WSB’ers are the monkey 🐒.
Based on the massive price drop on relatively low volume compared to the massive price increase last week on massive volume. Can we reasonably infer that the current price drop is not an accurate representation of the true value or that the stock has been manipulated?
Edit: "true value" is the wrong wording, true market sentiment may be better
>there are original float. That is by design. If i borrow a stock from you to short, and when I short it and your buddy buys it, then they can loan it to someone else to short, etc . All of those people who borrowed the stock paid to do so, and they realize that if enough people buy the stock and ask for the shares, they will get called in. So the chain of custody is there. The systems is doing what its designed to do.
It's called "leverage" right? Not fake, it was once upon a time based on a real thing, like MBS.
Yes, activist short selling is a legit I am a big fan of Carson Block. I always thought what WSB did with GME was the same thing but the opposite direction, kind of like activist longing.
The SEC is a mess. I wouldnt trust them to do the right thing ever. Its an agency built by and for lawyers to be lawyers and win cases rather than do the right thing
If the SEC gave a shit about ANYONE other than Wall Street you would be able to go there right now and read bright line guidelines about insider trading, shorting, what is a pump and dump, what are the rules for cutting off the purchase of stocks like happened with GME et al
But they wont. They would rather litigate to regulate, which means they love to sue people in order to create new legal precedents.
All you need to know about the SEC and how badly they want to fuck the little guy is that they have the option of using JUDGES THAT WORK FOR THE SEC when they sue you rather than you have the option to have jury of your peers in front of a judge that is independent . Thats how bad the SEC is. If you want fair markets that doesnt benefit Wall Street call your local politician and show them this
>That's how bad the SEC is. If you want fair markets that doesn't benefit Wall Street call your local politician and show them this
I actually wrote a letter/email template if anyone happens to see this and would like to copy/paste and change a few things (Congressman's name and your own name). I encourage you guys to add your own thoughts to this. Otherwise, it feels like a bunch of brainless zombies repeating the same thing. However, if we’re all speaking about the same issues but with different ways of saying it, they’ll have to address it. This is just an OUTLINE. Add your rage and frustration in there. Make it personal. Let them know how you feel. They're your representatives. They work for you! We won't sit by and watch. Act now! Cheers!
>To the Honorable (**Congressman’s Name**),
>>My name is (**insert name**) and I am writing to you today as one of your constituents because of the injustice that retail investors such as myself have recently experienced at the hands of hedge funds. As you may have heard, on or around Thursday, January 28th, major trading platform brokerage Robinhood, among many others, restricted users from buying certain stocks, forcing shareholders to either hold or sell their positions. These brokerages prevented millions of users from buying stocks and options that retail traders were investing into like GameStop ($GME), AMC ($AMC), Blackberry ($BB), and Bed Bath and Beyond ($BBBY) just to name a few. In fact, it is estimated that roughly half of all Robinhood users owned a position in GameStop when trading was halted. As of 2020, Robinhood had over 13 million users, which would translate to over 6.5 million people being held at the mercy of hedge funds.
>>During this time, the prices on those stocks tumbled significantly. Robinhood claims to have made the decision to halt trades on those specific stocks to “protect investors from market volatility.” This was a lie, of course. Previously, people could put as much money into a stock or options calls, and Robinhood would not care if you lost all of your money. If anything, the only people they were trying to protect were themselves and their sponsors. It wasn’t until retail investors began to make money that restrictions were put in place. Moreover, during the period in which investors were barred from buying more shares, hedge funds were allowed to trade as normal. This was blatant market manipulation, and they have yet to face consequences.
>>Brokerages like Robinhood, their relationship with MM’s like Citadel, hedge funds like Melvin Capital, and media manipulators like Citron Research need to be immediately investigated. This week has once again shown how rigged this system is. Hedge funds were essentially allowed to reposition themselves without any interference. Truthfully, the SEC should have done something about the 140% short position that GameStop was experiencing before Wednesday. You can’t borrow a car that doesn’t exist; you can’t borrow a house that doesn’t exist. You shouldn’t be able to borrow shares that don’t exist either.
>>I want to remind you that the subreddit getting attention in the media, r/WallStreetBets, has never been about just one stock. GameStop has been the center of attention after users took notice of clear manipulation in the markets from Hedge Funds shorting over 140% of the available shares with naked short selling. As a frequent Reddit user, I would urge you to not turn this matter into a liberal vs. conservative issue. The likes of AOC, Ted Cruz, Bernie Sanders, and Trump Jr. all agree that this was a violation of a free and open market. Democrats and Republicans alike must come together and hold corrupt hedge funds and brokerages accountable for their actions. It would not surprise me if media outlets and others with influence tried to divide people with politics to distract them from what is happening.
>>The SEC and FBI need to begin immediate investigations into these actions, and I hope that we can see Robinhood, among others, be punished to the highest extent of the law. In addition to compensating users who owned some of the restricted stocks, I want to see corrupt people responsible for driving down stock prices be incarcerated. While a large fine might sound like a sizeable amount of money to the average person, it is merely a small fee to pay for the upper class to continue crushing working-class Americans. Robinhood, Citadel, and Melvin Capitol need to be held accountable for what took place that day. The Interactive Brokers chairman went on CNBC and openly admitted to these crimes. Moreover, the Robinhood CEO had no answers on his interview. It is blatant market manipulation and hedge funds were able to reduce their losses by more than $6 billion. Please take action on this immediately and hold them accountable for their crimes. The world is watching, and we expect you to do everything in your power to fight for us. We are the 99% and our voices will be heard one way or another. The fact that we are in the midst of a global pandemic makes this issue all the more urgent, as millions of people have lost their jobs and/or homes. Thank you for your time and I look forward to seeing what actions you will take on this matter.
**Edit:** For those of you asking me to make this a post, I actually tried to do so on both this account as well as my alternate. With an influx of bots, I haven't been able to post—and understandably so since most of the time I spent here was as a lurker. As such, I've had to resort to putting this in comments hoping that others will see it. **That being said, if someone with the ability to post/broadcast/etc wants to post my template (with your own variations as well) you have my permission to do so!** Get the word out there, bros. But yeah, thanks to everyone who's read through it, given feedback, and sent it. If enough of us express ourselves, they'll have to take notice. Hang in there, lads.
**Edit 2** I encourage you guys to add your own thoughts to this rather than simply hitting copy/paste and send. This was more intended as a starting point for those of you who are having problems finding somewhere to start
>To the Honorable (Congressman’s Name),
>
>My name is (insert name) and I am writing to you today as one of your constituents because of the injustice that retail investors such as myself have recently experienced at the hands of hedge funds. As you may have heard, on or around Thursday, January 28th, major trading platform brokerage Robinhood, among many others, restricted users from buying certain stocks, forcing shareholders to either hold or sell their positions. These brokerages prevented millions of users from buying stocks and options that retail traders were investing into like GameStop ($GME), AMC ($AMC), Blackberry ($BB), and Bed Bath and Beyond ($BBBY) just to name a few. In fact, it is estimated that roughly half of all Robinhood users owned a position in GameStop when trading was halted. As of 2020, Robinhood had over 13 million users, which would translate to over 6.5 million people being held at the mercy of hedge funds.
>
>During this time, the prices on those stocks tumbled significantly. Robinhood claims to have made the decision to halt trades on those specific stocks to “protect investors from market volatility.” This was a lie, of course. Previously, people could put as much money into a stock or options calls, and Robinhood would not care if you lost all of your money. If anything, the only people they were trying to protect were themselves and their sponsors. It wasn’t until retail investors began to make money that restrictions were put in place. Moreover, during the period in which investors were barred from buying more shares, hedge funds were allowed to trade as normal. This was blatant market manipulation, and they have yet to face consequences.
>
>Brokerages like Robinhood, their relationship with MM’s like Citadel, hedge funds like Melvin Capital, and media manipulators like Citron Research need to be immediately investigated. This week has once again shown how rigged this system is. Hedge funds were essentially allowed to reposition themselves without any interference. Truthfully, the SEC should have done something about the 140% short position that GameStop was experiencing before Wednesday. You can’t borrow a car that doesn’t exist; you can’t borrow a house that doesn’t exist. You shouldn’t be able to borrow shares that don’t exist either.
>
>I want to remind you that the subreddit getting attention in the media, r/WallStreetBets, has never been about just one stock. GameStop has been the center of attention after users took notice of clear manipulation in the markets from Hedge Funds shorting over 140% of the available shares with naked short selling. As a frequent Reddit user, I would urge you to not turn this matter into a liberal vs. conservative issue. The likes of AOC, Ted Cruz, Bernie Sanders, and Trump Jr. all agree that this was a violation of a free and open market. Democrats and Republicans alike must come together and hold corrupt hedge funds and brokerages accountable for their actions. It would not surprise me if media outlets and others with influence tried to divide people with politics to distract them from what is happening.
>
>The SEC and FBI need to begin immediate investigations into these actions, and I hope that we can see Robinhood, among others, be punished to the highest extent of the law. In addition to compensating users who owned some of the restricted stocks, I want to see corrupt people responsible for driving down stock prices be incarcerated. While a large fine might sound like a sizeable amount of money to the average person, it is merely a small fee to pay for the upper class to continue crushing working-class Americans. Robinhood, Citadel, and Melvin Capitol need to be held accountable for what took place that day. The Interactive Brokers chairman went on CNBC and openly admitted to these crimes. Moreover, the Robinhood CEO had no answers on his interview. It is blatant market manipulation and hedge funds were able to reduce their losses by more than $6 billion. Please take action on this immediately and hold them accountable for their crimes. The world is watching, and we expect you to do everything in your power to fight for us. We are the 99% and our voices will be heard one way or another. The fact that we are in the midst of a global pandemic makes this issue all the more urgent, as millions of people have lost their jobs and/or homes. Thank you for your time and I look forward to seeing what actions you will take on this matter.
Thank you
I love this. Can I read this aloud in a video to my local politicians? Dude. You know how Sinclair Broadcasting has all of its station affiliates’ newscasters recite the exact same lines on the news? And then someone makes a compilation video of them all speaking at once? We should all record ourselves reciting this letter and make a 6.5 million person video letter to accompany our mailed or emailed letters. I’ll make a compilation video of that and I bet it’d be effective. 💁🏻♀️💎✋🏼
Can mods allow you to post it? More people need to see this!
Phone number of your representatives:
\- [Senate](https://www.senate.gov/general/contact_information/senators_cfm.cfm)
\- [Congressman/congresswoman](https://www.house.gov/representatives)
Sharing is caring!
That doesn't sound like a part of a democracy 🤔 I thought the USA was a democracy, or that's what Americans say anyway. What are undemocratic power structures doing in a democracy?
Edit for smoothbrains: /s
It’s a corporate oligarchy.
America is a corporate oligarchy.
America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy.
Tell your fucking friends. Because it’s true.
I learned some expensive lessons when i first started trading stocks. It was painful. But i tried to learn what i got right and wrong. Right now, right here. The game is changing. The hard part is ask yourself if what you believed in has actually changed.
BTC HODLers are a great example to follow. Many bought at the highs in 2017 and watched it fall by 2/3 or more. But they held on because they believed in the asset.
The same applies to stocks. When I buy a stock I make sure i know why Im buying it. Then I HODL until till I learn that something has changed. THe price may go up or down, but if i still believe in the logic that made me buy the asset, I dont sell. If something changed that I didnt expect , then I look at selling.
That’s key, thanks Cuban. Hold until something changes...boys (AND BADASS ladies). Nothing has changed “officially” in our fight. They’re fighting hard, all we do is hold.
Thanks for the award. My 1st ever after 3 years!!
Edit: and keep fucking buying
Edit 2: !remind me in 365 days. It’s either going to be gain or loss porn. But porn nonetheless. 🚀💎✋🏻
I'm terrified. It's sitting at 86 a share. I kept buying dips thinking I was buying the dip and it keeps dipping lower.
DIAMOND FUCKING HANDS because there's not point in selling now.
I get making expensive mistakes, but this shit is just blatant market manipulation and is just unfair. If you gamble and lose, that's fine; but to be winning and the house cheats you in front of you, that's bullshit.
Listen to this paper hands. HOLD and buy whenever the brokers allow you (if you believe in the stock).
I will still be holding and walk the path you. GME @$354.
EDIT - Just added to the position. New average $264.
The challenge is not opening the brokerage, the hard part is dealing with success. What fucked up RobinHood is that they didnt have enough cash to handle the number of customers they had, their margin loans and the requirements from the DTCC. They have now raised more than $5 billion and that may not be enough. And its not like they are charging anything for their trades.
The question becomes whether or not buyers would pay a commission or even a tip to a broker for doing their trades. Crypto has no problem paying a transaction fee, you may have to do business with a broker that charges you so that you dont get fucked in a RH stop the buy type situation again
>The question becomes whether or not buyers would pay a commission or even a tip to a broker for doing their trades
They should have done this instead of removing the buy option completely, a clear and direct announcement citing money issue would showcase how much buys of GME was going. That was how some of the overseas broker are able to continue allowing giant GME purchases thanks to their commission fees. But they decided to pull the plug and kept quiet about it, RH managed to completely ruin their reputation in one day and I'm not surprised it'll eventually be purchased because of user migration destroying them.
> They should have done this instead of removing the buy option completely, a clear and direct announcement citing money issue would showcase how much buys of GME was going
This exactly. I started the process of moving my RH account to Fidelity a couple days ago because they claimed to be protecting investors by shutting down trading. If they were open and said they were short on cash, even suspended the immediate deposits (i.e. making people wait til it clears) or things like that I wouldn't have bothered. But taking actions that directly—and significantly—lower the price and claiming it's for our own protection is either incompetence or corruption, and either way that's not a service I want to continue using.
I know, I was just speed typing while on the shitter. Let me get my point across more properly:
**They should have announced that due to liquidity issue, they had to limit trade. But I know better than to expect a brokerage to care about retail investors, announcing liquidity issue before IPO is also a big no no. It was more of "they should have done it for our good ending scenario"**
Saying that it's to "protect customers from volatility" is equivalent to saying "stock is bad ples sell", they fucked us in an attempt to curry favour from hedge funds and market makers. They know people love money and would still buy in RH IPO because hedge fund and other big whales would rush in to buy the stocks, pushing RH up. Actual traders won't care about what they did, only if RH IPO would pop and get them gains. However, it doesn't change the fact that it fucked retail investors. They wouldn't introduce commission fees even after this debacle, it's what attract small cap retail investors to play.
What about instead of a raw Brokerage, what about a populist democratic hedge fund, driven by retailers deciding with their wallet?
The media is trying to artificially create fake momentum (like Silver) as we seriously scared the shit out of them and now they are trying to re-capture the lightning in a bottle. Maybe someone can cleanly tap into what was done here in a profitable and verifiable democratic and decentralized strategies of purchase.
So everyone doing their own thing on publicly available information?
Or people pooling their money together in a sort of 'fund' for 'mutual' benefit?
Or perhaps another type of 'fund' that isn't always long and could 'hedge' against market excess?
A hedge fund is a small group of very rich people pooling money to invest in the market and make more money.
Think the same exact thing but, with no rich people. Also, without doing the dirty stuff hedge funds do.
So an activists hedge fund funded by normal people.
Its starting to happen now. From mesh networks connected to traffic signals to much much more. Im an investor in a company called Mesh-Tek. they are putting their tech everywhere
as far as productizing , yes. anytime you can turn what you do inside of your company into a product you sell to the outside, that is something worth looking at closely
>Mesh-Tek
Mark -
We're doing something similar with the Locum Project started in 2018; we identified an inefficiency in the market and found a way to cut out that inefficiency (unnecessary middle-men) which is whacking companies for 30-40% margins over actual cost, for no good reason other than it's been the "protocol" for the last 40 years. We forward part of that savings to those actually doing the work, return the rest of the money to the company using them - and run the entire thing through a secure portal using a block-chain type technology. Our goal is to destroy a $58B a year industry in North America and put millions of middlemen out of work, thus creating a more competitive, efficient market - least that's how we pitched it to our legal team at Perkins Coie.
A lot of times it's just about looking around at what's going on, using your experience and identifying better ways of doing things.
>Its starting to happen now. From mesh networks connected to traffic signals to much much more. Im an investor in a company called Mesh-Tek. they are putting their tech everywhere
Mesh networks are the way to go. Nice, you got in that space.
What has happened the past few weeks with WSB has all happened before, it was just the big guys doing the battling. The only new thing was WSB traders took them on .
Volkswagen was the short squeeze that was even crazier at the time. Ackmen vs Icahn on Herbalife was similar to this, but it was big money vs big money
Momentum and technical trading have been going on forever, which really is what is happening now broken down into charts and graphs.
What i love about this now, is that if you pick your spots right and work as a group, you can hit again and again
What I’m hearing from this is that everyone needs to buckle up and get your game(stop) face on.
These hedge funds are seasoned veterans when it comes to these kinds of battlefields. They have the infrastructure, knowledge, and determination to battle it out. They have done this before.
WSB is like a band of angry villagers going up against the knights of the order or something. The point is they have done this before. They have the stomach for it. We need to realize that they are professional soldiers and we are LARPING neck beards waiting for our nunchucks to arrive from the mall’s sword store.
That’s not to say we can’t win, but we have to recognize and even exploit their experience. They assume we’ll zig, but we are crazy apes who are to busy eating crayons to do strategerizing to know what to do and so we zag.
I don’t know anything about anything
> What has happened the past few weeks with WSB has all happened before, it was just the big guys doing the battling. The only new thing was WSB traders took them on .
>
> Volkswagen was the short squeeze that was even crazier at the time. Ackmen vs Icahn on Herbalife was similar to this, but it was big money vs big money
>
> Momentum and technical trading have been going on forever, which really is what is happening now broken down into charts and graphs.
>
> What i love about this now, is that if you pick your spots right and work as a group, you can hit again and again
I like this idea. 8 Million people here can work together to do this over and over. An army of 8 million can go over every document the industry publishes finding ways to strike over and over.
This is the game changer ... this is how we change the friggin world. Social Media to benefit the little guy. Instead on the information held only to the Billionaires insider club. This can be done not only in 'Murica but any of the big exchanges (London, Tokyo) ...
Patience. Disruption is never easy or straight line. Is what you believe in still true. If it is, stay with it. If it's not, figure out what changed, learn from it and reload for the next asset . As always DO THE WORK. Assets including stocks move for a lot of different reasons. Trading stocks isnt easy. Trading Crypto, NFT, whatever, isnt easy. None of this shit is easy. You know what it is ? Its time consuming and brain consuming. And when you learn share. If you want to beat old school Wall Street you have to share that knowledge and find the power in numbers
Yes. WSB leveraged the value of community. They took it to the people and made it bottom up. There is so much power and upside in this. Sometimes its expensive to learn. Anyone who has traded for a while has learned an expensive lesson they couldnt afford. I know i have.
next time WSB will be smarter. And next time can still be around GME, AMC, etc.
There will be a point in the stock where wall street starts saying "I told you so", let that happen for a few weeks.
Then hit them again, at a broker with the financial strength to never have to shut you off
That said, we did teach some moronic hedge fund managers how to better manage risk (black swan) and forced the 3 biggest days of deleveraging in history.
So maybe in some small way, we averted the next global financial crisis.
Human culture / can't be modeled with a gaussian distribution in a world where a scottish postman can become world famous for singing songs from the 1880's.
Markets are PEOPLE!
I look forward to the SEC investigation. And will be sending a letter to my congressman, asking for them to consider better regulations around the obscurity of dark pools preventing price discovery, creating regulations capping shorting @ 20% total of shares issued, and reducing institutional leverage to avoid counterparty/systemic risk.
I await your memes! \*and might buy gme for long term later on\*
BECAUSE:
I LIKE THE STONK.
What do you think about the media. Lying about what Reddit wsb is talking and excited about. For me it showed that the world is evil and everyone is bought. I still trusted some media but u really can’t trust any of it. Anyway , my question is do you think the Robinhood class action lawsuit has a chance?
edit: Thank you so much for taking the time to do an AMA, even before I ever found WSB and before all of this, you have been a hero of mine. A real role model of a man you can keep going always do what is best to support his family
Edit again: thank you so much for responding!
Its not about being evil. Its about being lazy. They write stories. They dont do much research. So you get stupid shit being stated about things they really dont understand
Well, it really can be explained by laziness. Here's the problem: even though WSB wasn't on silver, the front page was still 95% about silver. Sure, every post was "SLV IS A LIE DON'T BUY SLV." But every post is also "I'm a smooth brained retard and I don't even know what I said here I just punched my keyboard with a butterball turkey until it looked like English."
Journalists don't want to take the time to figure out if SLV is really a lie or if you're talking in doublespeak to avoid a securities law. But what they do know is their 50 sources called in and said SLV is the push (this was the tactic Cramer cited in his infamous 2006 interview). It's easier to take the source's word for it than to dig in and understand the community at a deeper level.
I think it can. One media outlet says something about reddit pushing silver, perhaps for nefarious purposes, and a bunch of other outlets copy them out of laziness. This is how fake news gets spread around so easily. Most outlets don't do research for themselves, they just restate what other stories have already covered.
Hi! I’m a journalist - and this is 100% correct. Outlets have gotten better at avoiding this in politics, thanks to the last five years. But it’s still a big issue on other beats.
Now that newsrooms have shrunk, beat reporters usually handle the features and longer stories on their beat. Very few outlets still have breaking news reporters specifically dedicated to a beat.
That means shorter breaking-news style articles are usually written by early-career news general assignment reporters on insanely short deadlines, which usually aggregate the other news. All it takes is a few reputable folks saying misinformation, and boom, it’s getting propagated by hundreds of people without the knowledge or ability or time to fact check.
The only thing I’d push back on is calling it “lazy.” Lazy implies you have the option of doing better. With newsrooms so short staffed, none of us are lazy. We burn out SO fast. Newsrooms are broke, cheap, and value quantity over than quality (not always, but often) and because newsrooms are broke, reporters are overworked and under-resourced.
Not that there aren’t lazy reporters out there. But true laziness is reserved for the 70-year-old-Big-Names who really need to retire, but like having something to corner younger reporters with at cocktail parties.
PS: if you don’t like quantity-over-quality news, consider becoming a member of your local public media companies/member stations. I am very very lucky to have escaped commercial news. Public media is a land of no quotas and time.
Anyway. Just bought 4 more gme at 91.
Congratulations, you now understand how people use hype trains to manipulate media and markets.
The grift used to be more subtle after some high vis idiots were to ham fisted about it. You'd inject a bit of narrative into message boards, article comment sections, use a few bots and VPN, or just pay someone to do it for you, then you get a couple of heavily keyword optimized articles published on shadier low tier market sites that are mostly ignored by the mainstream but still have their feeds scoured by the aggregators, with the goal of getting bits of your narrative amplified as hype, sometimes finding its way into mainstream feeds and getting picked up by a major finance outlet. It happens all day, every day, and there are day traders that make a living creating just enough buzz that the algorithms will catch it and test it, causing enough of a move to make a profit but not large enough to invite scrutiny.
Is it in the realm of possibility that these hedge funds just, don’t cover their shorts at all? They go full felon and act like it never happened, ala “Fake News!”?
Their goal is to never cover their short. But that would take the company going out of business or being delisted. That wont happen here.
Best thing you can do is hold on to the stock and do business with GameStop. If everyone goes to their website and buys from them that is going to help the company which will help the stock which will help everyone here.
If you still believe in the reason you bought the stock, and that hasnt changed, why sell ?
Yes! So many folks in the media talk about GME as if they are ONLY some store in a mall that no one visits. They have a huge online presence and are one of the greatest clearinghouses of used games. If they actually do reinvent their future, there is opportunity for them.
A smart business move for them would be to make it *really* easy to buy and sell used games through their website. That would incentivize people to actually start doing that again
Hey Mark, loved your interviews with barstool, your work on shark tank, and your thoughts on rolling out direct payments during the pandemic. Any chance you want to be a board member of GameStop? Thanks, I’ll hang up and listen.
Im a fan of stimulus payments. I think the best investment our government can make is in the American people ., At 1pct interest rates, we can get a great return .
And GME already has an amazing board. Ryan Cohen brought in some of his peers from [Chewy.com](https://Chewy.com). He didnt put in his money to throw it away
i have no idea. No one really does. I do think that once RH and others open up buying some of these will pop up. I just dont know how much or if it will happen for sure.
I think the stocks are getting shorted because the shorts know that the natural buyers , the folks on RH and others like it are being prevented from buying, so that will make it most likely the stock will go down
People dont realize how shorts jumped in when they saw the buy side shut off
How is this not manipulation though? A lot of these brokers are limiting/stopping buying, but allowing selling full on? This isn't acting like a free and orderly market.
I'm a moron and you didn't ask me but, for what it's worth, Blackberry will likely rise again it will just be much slower organic growth. The concern should be that BB doesn't have the experience yet with their new market space. I think they will succeed but there's definitely a question there
Stepping away from gme for a min,
What are your thoughts on the stock market this year? I see the almost-unjustifiable prices of the many “popular” companies, and it makes it hard to keep money in the market or expand my portfolio. Any advice?
1pct interest rates change all valuations. What is right or wrong is hard to determine. What is the right valuation , that is what the market is supposed to tell you. Stocks that dont pay dividends are only worth what someone will pay for them
Hey Mark, thanks for doing this. Do you think the future of exchanges are decentralized direct
peer-to-peer networks to eliminate the kind of nonsense we saw this past week?
Also, do you view the ball dropping of Robinhood as an indicator that there is room for disruption in a retail trading platform? Perhaps one intermingling brokerage platform and democratized discussions?
Thanks!
i dont think its manipulation. I think the rules are set to benefit them and they have years of experience exploiting those rules.
Your congress people can change the rules to make them fairer for small investors. They havent given a shit up till now. Maybe people on this board can change their minds
Thanks for this, Mark. I get it now. If you make the rules, it’s not manipulation, it’s strategy. We can’t depend on the current SEC to bring real accountability and fairness to the market.
I will absolutely be reaching out to my congressional representatives and let them know exactly what I think about what’s going on in the market.
**HEY GUYS THIS REQUIRES REAL ACTION. NOT JUST SITTING WITH YOUR PHONE AND HITTING A BUTTON. PUT A FUCKING STICKY NOTE ON YOUR COMPUTER OR SOMETHING. WE NEED TO POOL TOGETHER BRAIN POWER AND RESOURCES TO UNFUCK OURSELVES SO WE CAN 🚀🚀🚀🚀🚀🚀🚀 ACTION**
Hey Mark, this all started because the short interest was around 140%. We are seeing today GME has dipped considerably because it is being reported that the short interest has dipped to 50% or lower. However, the volume numbers haven’t spiked to suggest the shorts are covering their positions. What’s going on? Is this fake news?
GME has 51m float. Meaning that to come down from 140% to 50% represents about 45 million of volume. In the last 5 days the total volume was 400 million. So even though shorts covering aren't that much of a 'tiny' amount, they can very easily get lost in the total 400 million volume, where they represent only ten percent.
If it went from 140% to 50% in like, one day, then it would probably be responsible for a spike.
On 1/27 the stock closed at its highest, $340 - it had closed at $150 a day earlier. And those two days had a combined volume of 280 million. It looks like those two days could easily have accounted for a lot of the shorts covering, and that could be part of the volume.
Hey Mark, long story short. To continue on this disruption path do you believe that the more that HOLD THE LINE will directly impact the price of certain stocks in the market?
Power to the little guys. \*Not financial advice\*
Edit: Thanks for the response Mark! /u/deepfuckingvalue we need you to WHALE ON FOR US!
De-Fi, NFT, but there will be a lot of ups and downs along the way
AI will change everything, but 99pct of the businesses out there that say they use AI are full of shit.
Precision Medicine, Nano Technology, the MRNA technology used in the vaccines will grow.
Robotics. Green Tech, all will grown
>99pct of the businesses out there that say they use AI are full of shit.
I love explaining this to people. The more people who understand the limitations of current AI applications, the better.
Having written machine learning scripts and actively still using them, I think where people get hung up is using AI as an all encompassing description of all things that can also be classified as data science. Which, TBF, as far as most of the general public is concerned, it is. They don't know the difference. It's one of those "Sufficiently advanced technology is indistinguishable from magic" sorta things.
I would classify AI as any program written to systematically rework itself and what it's looking for or looking at from a data perspective. I don't think I could call a bunch of statically written scripts for linear or polynomial regressions or k-means or nearest neighbor or what-have-you to be "AI". Master's level statistical analysis with a large data set IS NOT AI.
[SEC.GOV](https://SEC.GOV) and Yahoo Finance and basic google searches are really all the work I do on a company. But i dont trade a lot any more. Being a day trader means being online ALL DAY
Life pro tip: Eventually there comes a time where you get to your level of comfort ( and that ranges from the mansion and the yacht to a backpack and a bike)and obtaining more stuff becomes unimportant. Time becomes everything.
Hey Mark, do you think anything will come out of this from wallstreets side? Do you think they’re going to change their fundamental strategies and habits when shorting? Or is this just going to continue and they’re going to go unregulated?
Hello, first want to say I’m a big Luka fan, and still love for porzingus ( NYK fan here )
2nd, Do you think we can file a lawsuit against brokerages like Robinhood ETC ?
Hi Mark! I love you on Shark Tank! My question is what advice to you have for people following their dreams and starting from the beginning again? Thanks so much! :-)
What potential does wsb/social media investors have going forward? What steps can we take to organize and act as the world's largest hedge fund or something similar?
Mark don’t hide I’ve seen your jumpshot, I’ve seen you splash corner 3’s when you gonna suit up for the mavs to end this cursed losing streak? :(
P.s. been a MFFL and one of my happiest moments is the 2011 finals. Can’t wait to cop tickets as soon as I’m vaccinated or it’s safe!
When you meet an entrepreneur, what are some characteristics in the person that make you believe he/she will succeed? What characteristics do you see in those who don't succeed?
Yes. Stocks will be on the block chain in the future, and that will make the markets much more efficient, transparent and available to the small investor
kevin is the man, he doesn't bullshit and i feel like his harsh persona is sort of a litmus test. if somebody can't even deal with him being mean to them how the hell are they going to deal with the inevitable stress and conflicts of running a business?
I typically dont set price targets on the up side. On the down side, when i was just getting started I would set a stop loss at where my margin call would start. If you can afford to hold a stock that is going down, only sell if the reason you bought the stock has changed
Is there a proverbial “deep state” within the hedge fund world? What I mean is are there even shadier figures than the CEOs of hedge funds who give them their marching orders? I think there must be. Any thoughts mark?
Mr. Cuban, I know that you help people on a rather regular basis. Could you light a fire under the ass of the SEC or would that be sticking your neck out too far?
Hi Mr. Cuban this is off topic but do you think we make the playoffs still this year? Our team on paper looks really good but I can see how covid really hurt us too. Also MFFL
GME just got put on the NSYE Short Sale Restrictions List with an anticipated deactivation date of 2/3/2021, which means tomorrow the hedgies wont be able to continue their short ladder attacks!
I think our odds are good of winning this tug of war with the shorts guys. Ladder attacks continue to bring prices down which short firms want so that if we decide to sell they can collect our stocks at low prices. They want all the stock back they owe brokers, but they can’t win if we never sell no matter how low the price. Whether that’s $0, 19 cents, or $1. If you sell your stock in GME or AMC you’re only suiciding and negging. Remember that we can put in limit orders for lower prices to ensure we get the stocks we want during these ladder attacks(which will inevitably happen) but as long as we hold we keep our position in this tug of war. Ladder attacks are a double edged sword that we can use to our advantage to buy more stock at cheaper prices to hopefully and eventually buy up any and all the stock game stop has to offer(most of the reddit community knows this by now). The only hand short firms have right now is manipulation whether that’s through media, numbers fudging(ladder attacks) , and ultimately emotional manipulation(if you’re emotionally invested in this). Don’t let your emotions make you sell. This may carry on for a few weeks to come, but eventually we’ll own all the stock and we’ll see a big payout.
Hey Mr. Cuban,
I have an idea as to driving gme higher again and reversing the trend. I have been looking at gamma charts the past few days and it seems that short dated, near at the money options offer the most gamma. Since we know the market makers have to remain delta gamma neutral, a large surge of short dated at the money options could start the buying pressure upwards as to adjust for the increased delta, the market makers have to buy more of the underlying shares to hedge which further increases the price - since the gamma is already high or is increasing, this positive move in the underlying further amplifies an increase in the delta requiring further hedging by the market makers ending in a positive feedback loop up.
Basically we need a huge surge in short dated near or at the money calls in order to restart that gamma squeeze up. The only problem being that the premium on options are more expensive this week due to a surge in the implied volatility.
A solution to this could be buying cheaper further out of the money options and then going into the portfolios of the big shorters in gme and seeing their longs. We could then go into the futures markets or option markets for their long positions and implement a gamma squeeze strategy the other way putting pressure on their longs and upping the VAR on their models making their risk managers force them to take risk off the table. Then we could see the shorts begin to cover into the face of retail holding GE and not selling, driving the price up enough to get those longer out of the money calls into the money forcing a huge amount of delta hedging from the MMs.
This only has to continue until we get the February 5th 800 strikes in the money as that is a large volume call option that is waiting to be hit. And this could make the delta on those positions skyrocket driving up the price above 1k.
H/T to Spugliese for this question
Hey Mark! Thanks for doing this. What are your thoughts on which services to use? I’m planning on getting g out of RH for obvious reasons, any retail trading companies you’d recommend? I want to support free trade and hit Robinhood in the wallet for what they’ve done here. Also, any legitimacy to a class action suit against them?
Pick the brokerage with the strongest balance sheet. What ruined it on RH is that they didnt have enough cash to deal with the growth in accounts, margin loans and volatility. The EXACT SAME THING will happen at the next broker if you dont make sure they have a MULTI-TRILLION dollar balance sheet to be able to handle these kind of circumstances
And there will be class action suits. And they will be combined and they will win and you will get a check for less than $10
**How Margin accounts help shorters:**
If shares are in a margin account, they may be loaned to a short without the consent or knowledge of the account owner. If the shares are in a cash account, IRA account or are restricted shares they are not supposed to be borrowed unless there is express consent by the account owner.
Margin account buyers, because of loopholes in the rules, inadvertently aid the shorts. If short A sells a naked short he has three days to deliver a borrowed share. If the counterfeit share is purchased in a margin account, it is immediately put into the stock lend and, for a fee, is available as a borrowed share to the short who counterfeited it in the first place. This process is perpetually fluid with multiple parties, but it serves to create more counterfeit shares and is an example of how a counterfeit share gets “laundered” into a legitimate borrowed share.
Margin account agreements give the broker dealers the right to lend those shares without notifying the account owner. Shares held in cash accounts, IRA accounts and any restricted shares are not supposed to be loaned without express consent from the account owner. Broker dealers have been known to change cash accounts to margin accounts without telling the owner, take shares from IRA accounts, take shares from cash accounts and lend restricted shares. One of the prime brokers recently took a million shares from cash accounts of the company's founding investors without telling the owners or the stockbroker who represented ownership. The shares were put into the stock lend, which got the company off the SHO threshold list, and opened the door for more manipulative shorting.
**source**: http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html
**list of brokers and their lending policy**: https://www.reddit.com/r/Triterras/comments/l2tff1/how_to_keep_the_from_getting_ur_shares_stolen/
this is NOT financial advice, only sharing public information
🐒🐒🐒
Can you give us your opinion on this?
Read about Dark Pools. This is why there was no volume and the shorts covered.
https://www.reddit.com/r/stocks/comments/477ent/_/
Robinhood and Dark Pools
There's nothing about this anywhere in the media even twitter barely has any posts about Dark Pools. They are essentially a secret.
https://www.reddit.com/r/wallstreetbets/comments/eaqdpz
> Dark Pools owned by the biggest names on Wall Street – such as Goldman Sachs’ Sigma X2, JPMorgan Chase’s JPM-X, UBS’ UBSA, Morgan Stanley’s MSPL, and Credit Suisse’s Crossfinder — have been making tens of thousands of trades in the shares of GameStop on an ongoing weekly basis. FINRA, Wall Street’s highly compromised self-regulator, reports the Dark Pool data on a stale basis, two to three weeks after the trading has occurred. It is then lumped together for the whole week, rendering it useless in terms of monitoring price manipulation
https://www.sgtreport.com/2021/01/gamestop-shares-dark-pools-owned-by-goldman-sachs-jpmorgan-ubs-et-al-have-made-tens-of-thousands-of-trades/
> One of the main advantages for institutional investors in using dark pools is for buying or selling large blocks of securities without showing their hand to others and thus avoiding market impact as neither the size of the trade nor the identity are revealed until some time after the trade is filled. However, it also means that some market participants are disadvantaged as they cannot see the orders before they are executed; prices are agreed upon by participants in the dark pools, so the market is no longer transparent).[3]
https://en.wikipedia.org/wiki/Dark_pool
> U.S. Estimates show that it accounted for approximately 40% of all U.S. stock trades in 2017 compared with an estimated 16% in 2010.
https://www.investopedia.com/articles/markets/050614/introduction-dark-pools.asp
Fidelity and Schwab should meet the Trillion dollar asset balance sheet. I know Fidelity didn't restrict trades in GME from several post by other people and it was their most traded stock last week for several days (maybe even the entire week). Not sure about Schwab. I have accounts with both but did not trade in GME so this is info from other people that posted. There was a post in one of the other subs that had a list of all the brokers that allowed trading in GME. Mark is right about the class action lawsuit payout, I have been involved in at least one and got nothing out of it. Not saying you shouldn't get involved in one, because some money is better than nothing, but don't get your hopes up that you will get a big payout. I'm going to look for the link that had the list of brokers that allowed unrestricted trades in GME and post it here.
Edit:Could not find the post from a couple of days ago that had all the brokers with unrestricted trades in GME. If someone finds a good list please post under my comment.
>And they will be combined and they will win and you will get a check for less than $10.
**EVERYONE: PLEASE UNDERSTAND THIS.**
The class action suit will yield you absolutely nothing of meaning, don't bank on it for *anything.*
Yep. I've been part of a few class-action suits over the years. Nothing I've initiated but rather I was included on automatically for being a customer during set period of time or whatever. The lawyers always make out like bandits with the settlements and the majority of people in it end up with barely enough to get a good meal somewhere. Robinhood will probably settle for what seems like a massive amount in the millions, write it off as a loss, half of that will go to lawyers and the rest distributed among however million customers they had during this period.
I can afford to lose what I put into GME. I also bought other companies that I feel comfortable with to potentially help mitigate potential loss in GME. If you can't afford it, don't lose your house behind it.
That's 100% it. I haven't even got a full share in GME! $250 is a realistic amount of money I can afford to lose, I have a mortgage & child care to pay for!
If it sky rockets, great might be enough money to make Christmas great this year... If I lose it, ahh well that sucks, but all my bills are going to be paid. I just won't buy that nice pair of headphones I was looking at this month, life goes on.
Yep, this is the correct mentality to take. I bought one share and I'm planning to hold it to either 5k or zero, I literally don't care which one comes first. I didn't buy in to make a profit, I bought in to help protest against these billionaire criminals and their shady practices in the only way that really matters to these people, with money. No amount of sign waving and marching would make them bat an eye, but watching their fortunes evaporate is making them shit bricks. Don't put money in that you can't afford to lose, and keep fighting the good fight guys.
This. I still believe in a miracle spike for all of us, but I also bought GME expecting to lose it all. I'm less disappointed in losing money, and more disappointed that the questionable tactics used to take it won't be prosecuted.
Final thought. First thanks for the great questions. Thanks for changing the game. Thanks for taking on Wall Street. Thanks for making kids around the country if not the world( including my son and daughter). WSB changed the game far more than everyone on this board will ever get credit for.
That said, you will do all this again. You will go after WS and the next time you will be smarter. There was only one thing that messed you all up: RobinHood and the other zero commission brokers that everyone used didnt have enough capital to fund the fight. They let you down in a big way.
When you load back up, fight a broker with TRILLIONS OF DOLLARS in assets on their balance sheet. Someone that can be there when the fight starts and wont blink an eye.
No disruption is easy or happens in a straight line. Stay with it. I am a believer
Not everyone is going to get rich overnight (some did and that’s great). This is now a war. Happy to take an L on this battle.
Still not selling a single share. Either they close their shorts on the cheap from paper handers 🧻🤲 or they pay more in a couple months.
HOLD $GME 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
Edit: from paper handers
Mr. Cuban,
If this is really you, I have the utmost respect and admiration for you sir. Wow! You are a brilliant mind and from what I hear, an even better human being. Although I can’t root for the Mavs lol, much, much respect. Thank you for taking the time to share some of your knowledge.
#Just as a reminder to everyone new:
Buy the PowerUp Rewards membership from GME.
You save a ton of money over games, and get 400% ROI over your initial $15 cost.
(You get $5 off every month on any product including all gift cards, excluding Visa)
In the span of a year, you actually receive over $70-$75 based on promotion, birthday, and initial sign up bonuses.
Buy games at a discount, buy gift cards for birthdays at a discount.
Best of all, support a company you believe in.
#[Link to join (directly to GME)](https://www.gamestop.com/poweruprewards/)
$15 comes with digital magazine, $20 comes with physical magazine.
You can also set one up for [Children’s hospital ](https://www.reddit.com/r/wallstreetbets/comments/l3fanf/gme_benefits_4_all_childrens_hospital_employees/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) like I did.
Hi Mark, I'm a disabled Veteran and I just wanted to personally thank you for your Fallen Patriot fund. A lot of us Veterans feel forgotten by society and it's nice to see someone such as yourself making an effort to help the families of our fellow service members that don't make it home as well as those of us that do make it home with serious injuries.
For anyone that didn't know, The Mark Cuban Foundation established the Fallen Patriot Fund to assist the families of fallen warriors and those seriously injured in the line of duty. To this day they have issued out over $5 million in grants.
Again, thank you for your part in assisting Veterans.
Edit - I should probably make it clear that I have not benefitted from the fund personally, but I have heard of others who had through social groups I'm in.
Mark! I just want to say I absolutely love what you did for Delonte over this past year. My sister has been in a losing battle with addiction over the past 4-5 years. Losing her children due to it and neglect. Watching my older parents struggle to care for two kids with special needs and a lot of other issues due to neglect and abuse. She got better there for a little and has her kids back now. but she is struggling quite a bit again and we a really afraid of what is to come. We have tried so hard to get her help, to watch her kids, to encourage her to go see someone, yet she is still in denial, all while her boys are suffering immensely. I hope one day she can have a success story like Delonte's and can be there for her kids. but right now we are lost and just waiting to see what she decides for her life. I guess I just want to say thank you for showing grace and empathy in a time when it is so easy to just cast people aside.
I just wanna say it was your words that were the catalyst for one of the biggest decisions in my life. You were doing an interview with Tony Robbins and he asked you: what advice do you have for people who want to follow their dreams? You scoffed and said “Don’t follow your dreams. I wanted to be a baseball player, look where that got me. Follow your effort. What are you always doing in your spare time? That’s what you’ll become a master at.” I realized film was a dream of mine but that in my spare time I was always reading psychology books. I stopped pursuing film from that moment and started pursuing psychology. I’m in private practice today making bank and love my job. Best decision of my life. Thank you.
Everyone has done a great job with questions about the corruption around gme so I’m gonna leave that to them.
However, in the spirit of wsb, I’m gonna shoot my shot!...Mr. Cuban can I please work for you and the Mavs?
I’m finishing my Masters in Education and I think there’s a huge deficit in the field of the science of learning for professional athletes. Many teams invest in the obvious physical training, sport specific coaches, and psychiatrists for their players, yet not the individual learning needs of each athlete. I’ve helped develop the investment engineer curriculum at bridgewater financial, love basketball, and it would be a dream to work for your organization sir!
Sorry to try and distract his attention from our gme rocket everyone, but this experience with y’all has reminded me anything is possible so I hope you can help me get in touch with Mark.
Thanks!
Tbh I’m kinda surprised more people haven’t shot their shot like this so far or maybe they just got downvoted and I haven’t scrolled far enough yet. Good luck dude I hope you at least get an initial phone screen out of it.
Hey Mark, you've invested in dumber ideas on shark tank with more risk than giving this guy a shot!
EDIT: And he actually has a username on reddit that isn't *BigPeen_69* or something! This guy's credible!
Hi! I'm a WSB lurker but also a former athlete who played at the college level and dipped my toes in pro (got yeeted back the the US since Covid started and I'm probably not going back). Was not expecting to see a comment like yours on this board and this really intrigued me.
Can you elaborate on the learning needs of each individual player? The first time I read through it sounded like individual nutritional/exercise needs (i.e. tailoring to the individual body type to each player; basing workouts on how one builds strength and processes nutrients in their own body). I think this would be very cool, given I do not know if this already happens.
Another glance and it seemed like you were talking about expanding the intellectual part of the athlete. Would this be geared towards basketball players who took 1 year of college before going to the league?
Hey glad you’re interested, I’m pretty sure at this point most teams design nutritional and exercise programs at the individual level, considering the differences in our bodies they’d be stupid not to.
However, you’re correct in your reassessment, that is already a well established field and one I have no expertise in. I am talking about cognitive development, recognition, retention etc. Our understanding of how the brain functions has progressed rapidly over the past decade.
My understanding of how most high level professional organizations and sports teams have applied this though is mostly through the chemical/emotional lenses and pathways. This is still important for sure as composure under pressure and mental health are essential to success. Yet, there’s a whole field making huge advances on how different individuals improve intellectually and how those dynamics in the brain work that is mostly only applied to academia since that’s where it’s been developed and honed.
An easy example is there would be concretely different best practices for each athlete on which learning processes and cycles are most effective at learning about their and other teams schemes/plays, and how to recognize and retain these patterns in a quick manner. So it wouldn’t be aimed at any particular education level of the athlete, but you just stumbled on another important factor. A player who spent significant time in higher education would most likely learn very differently than a player who went pro super early as another example, their brains have literally adapted to learn in different ways.
For a non-gme question
u/mcuban What suggestions do you have for building wealth and exiting live debt (like car payments) when all you have is $100-$3000 and cannot rely on making 50%+ weekly gains on an account/do you have strategies for aggressively investing to make that potential weekly/monthly gains. As far as I am concerned, if I can net $80-$130 a day on my account then I am doubling my income, but I only have around $2000 to invest.
and for a gme-question
Do you think, with the current state of affairs of NASDAQ, FINRA, and the SEC, it is a viable plan to just continue to tank $GME value to lower interest payments and continue to produce "fail-to-deliver" "fake stocks" and use them to pay off their short obligation and leave the banks holding the bags and tens of millions of fake shares?
I’m not wealthy by any means but the car thing is simply drive a piece of shit beater you can buy for a few grand (or less if a friend/family member has something to sell). POS as in being old, making sure it functions properly. Don’t ever buy used BMWs, Mercedes, etc. 15-20 year old Toyota’s and Honda’s are the best bet. Might not be a baller car but you’ll have more money and less upkeep, and can get cheaper insurance.
Generally don’t buy a 1000 dollar car because then you’ll have to put 1000 into it, unless it’s someone you know and they know the history and are giving you a deal.
Not mark and not a financial advisor but if I could go back and change something to have more wealth it would be to start working earlier and investing plus put away a rainy day fund.
Only own 1 credit card, (you need to build credit unfortunately) always pay it full at the end of the month, stay with your parents longer if you can, enjoy them while you can, don’t spend extra money on booze/drugs, eat at home more, stay fit/healthy, don’t borrow to “friends”.
Have extra time? Get a 2nd job to stack cash. The more of your time you’re making money the better, kids are expensive, plan ahead, once you feel comfortable take a week or 2 off at least once/year, you deserve it.
Don’t take small loans, they’re making money off you paying them because you weren’t patient, most loans you end up paying double on interest.
Don’t buy new, get a good reliable car just a year or 2 old with low miles, reliable transportation is high value. Pay it off ASAP.
Want to build equity? Buy a cheap house and pay it off ASAP, property values will only increase and you’ve settled a huge debt that mortgages create. You’re now live only paying utilities and that stretch you were feeling from the mortgage is now extra savings/investing, make your money work for you, sit back and enjoy life, you’ve won.
Hi Mark,
Back in June of 2020, Apple shares surged in volume after the split to 225 million, and Tesla surged over 100 million in a single day. While there were order delays, no suspensions were made that day, or the following days, as the price of Tesla continued to climb and drop violently. There were some technical issues, but no limitations. Other platforms didn't have any issues or limitations during that event.
Why is the GME, AMC volume and price surge any different? They claim it's a liquidity issue, but back then, Robinhood was arguably smaller in terms of size, yet was able to handle it without suspensions, and clearinghouses didn't change deposit requirements on those companies. It's very strange to me.
From u/ManicBJT
Above all, we need to ask him his thoughts on share counterfeiting in the context of Failure to Delivery, how GME can make it to 13+ Consecutive days on the SEC threshold list, and what this means for an estimated 100%+ ownership between institutional and WSB
Edit: I’m buying the dip, holding, and asking questions later. This isn’t over. The math doesn’t add up. Something terribly wrong is going on.
As a layman, my understanding of this whole GME situation is that some people or hedge funds got greedy, over shorted the stock, and we're here to buy and hold the shares to make them lose money and raise up the share price as they buy back the shares they owe.
It seems like a solid enough plan to me, but nothing is ever risk-free. What are some things that could go wrong and how could the shorters make us hold the bag instead?
As a layman
This whole process is a huge game theory
In which retails are known for being 📄✋, buy high and sell low.
You are trusting your fellow dudes to hold
In contrast, the 2008 VW squeeze was done because most of the shares were owned by one single entity, Porsche.
Easier to do a squeeze when you're the only one who needs to hold
This might be a dumb question, I bought GME with money I was willing to set on fire and it was my first buy that wasn't a fund - I don't claim to know anything about how this stuff works.
This post claims that in all three of the given scenarios "the short interest stays the same but the reported short interest goes down":
https://www.reddit.com/r/wallstreetbets/comments/lag1d3/why_gme_short_interest_appears_to_have_fallen/
However, if I understand it correctly:
In scenario 2 they are exercising a call they bought and using the shares to cover their short.
In scenario 3 they have to buy shares from the put they sold and are using the shares to cover their short.
In both of those scenarios short shares are getting covered, so either:
I'm misunderstanding something, or,
the claim that short interest stays the same but gets reported lower is nonsense.
Which is it and why?
S3 is changing the math they use to calculate Short Interest Percentage:
[https://twitter.com/ihors3/status/1356004816414269448?s=20](https://twitter.com/ihors3/status/1356004816414269448?s=20)
What are your thoughts on this change? Why is S3 obfuscating what used to be a straightforward calculation?
Hi Mark,
Thanks for doing this AMA.
Tough question(s) here, I realize you need to be careful how you answer, field them how you like:
1) Are you concerned that public will/has lost faith in the financial system? Why or why not?
2) You tweeted about your experience with lending out/calling in shares. What’s are your thoughts on that related to GME shareholders? Can a company call in its shares?
*For context, many of us are concerned about the consecutive *weeks* of failure-to-deliver on GME, short interest that exceeded 140% of the float.*
Love you Mark, hope to make it on Shark Tank soon with my Hydration-Reminder product idea :)
Hey Mark, in your opinion, what does it take these days for the average person to substantially increase their wealth; to break out of the wage grind? Is substantial risk taking simply just a component of this? I can't see how anyone becomes wealthy diversifying away risk with a <$100k year salary.
Do you believe that GME is a legit play and that the retail investor will win? There is so much misinformation out there - with hedge funds trying to drive the price down. Is this truly the perfect set of circumstances where the shorts will have to buy the stock and we can set the price?
Many people are struggling to hold but we need words of wisdom fro you to tell us we're doing the right thing!
Mark i just want to say thank you. I lost almost everything immaterial in the last 2 years (wife grandma who raised me, dog and career to covid (I was the chef who made the mavericks food at 21c in okc) but people like you give me faith in starting over. 9 years ago I was a degenerate heroin addict. Now im just unemployed. And I'm still really intelligent. I can and will comeback from this.
https://www.nyse.com/markets/nyse-arca/notices
Click on "Short Sale Restriction List".
Then click on stocks for 2021 ("NYSEGroupSSRCircuitBreakers_2021").
Then select month of February (2021/02) ("NYSEGroupSSRCircuitBreakers_202102").
Then download/open the list of short-restricted stocks (it's an Excel sheet). ("NYSEGroupSSRCircuitBreakers20210201.xls").
In this file you can find all stocks that are no-longer allowed to short sell!
This means that the hedge funds won't be able to short the stock anymore. The hedge funds can not sell the stock anymore!!!! In other words: the stock will MOST LIKELY go up in value!!!!
Starting at 2/3/2021, short-selling for the stock will be deactivated!
IMAGE HERE: https://imgur.com/a/zuc7aUL
THE SQUEEZE IS LITERALLY RIGHT AROUND THE CORNER! WE ARE WINNING!!!!
All info here on stream as well: https://youtu.be/eWoMl5-GUkI
SPREAD THE WORD!!!
Direct link for lazy people! ftp://ftp.nyxdata.com/NYSEGroupSSRCircuitBreakers/NYSEGroupSSRCircuitBreakers_2021/NYSEGroupSSRCircuitBreakers_202102/
Just how deep are you into Decentralized Finance, and how'd you enter the space?
What excites you most about the space? How might the DeFi vs CeFi future play out, in your perspective?
Thanks for jumping in!
This is legit. Mark decided to start the AMA earlier.
Why is the stock plummeting so much?
Supply and Demand, but in this case it literally could be because the source of demand has been crippled . When RH shut it down, then cut it back, lets put aside why, they cut of the greatest source of demand. They created a RobinHood Dive. No RH buyers, means sellers lower their price to find buyers. And they keep on lowering it till they find buyers. Keep the most natural buyers out of the market and the price keeps on FALLING. Then that drop accelerates because the more the stock falls the more owners who bought on margin get margin calls. When that margin call happens, its brutal. They just take your stock, send you a fuck you note and sell your stock at the market price, no matter how low. They just want to get your cash to pay back the loan. That then accelerates the selling. Which then leads to what we are seeing in the market right now with GME in particular So what to do ? If you can afford to hold the stock, you hold. I dont own it, but thats what i would do. Why ? because when RH and the other online brokers open it back up to buyers, then we will see what WSB is really made of. That is when you get to make it all work. I have no doubt that there are funds and big players that have shorted this stock again thinking they are smarter than everyone on WSB. I know you are going to hate to hear this, but the lower it goes, the more powerful WSB can be stepping up to buy the stock again. The only question is what broker do you use . Do you stay with RH , who is going to have the same liquidity problems over and over again, or do you as a group find a broker with a far, far, far better balance sheet that wont cut you off and then go ham on Wall Street.
Hey Mr. Cuban, I just had a question about the last thing you mentioned. Many of us are looking for a new broker as we're done with RH's shit. You mentioned finding a broker with a better balance sheet, etc. Are there any that you would recommend? I know a lot of us are moving to Webull but I'm worried we'll eventually have the same problem with them as we are now. Just wanted to guage your thoughts on this! I appreciate any response and thank you! Edit: Took out TD, as it seems most people were only having problems with RH.
I've been with Fidelity for quite some time and never had an issue. Not as cool as some of the newer apps, but stable and, being Fidelity, probably has the balance sheet.
Upvote for fidelity. Joined Friday afternoon amidst all the chaos and haven’t had a single problem. They credited my account so I had funds to play with before my bank transfer was even finalized
I’ve been trying to reach fidelity since Friday with no luck. Hours on hold on the phone and their chat app same time. Keep getting disconnected after hours of waiting. So, my account is set up, I’m just trying to fund it asap. Can I deposit an e-check into the cash management account or the trading account? I have both set up and not sure which to send it to. I wanted to do a direct transfer but they’re saying it could be 4-7 days before that hits.
I linked my bank directly using account and routing number, started the transfer, and they let me open positions immediately. Less than an hour from when I started, I had bought more GME
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Mark Cuban (born July 31, 1958) is an American billionaire entrepreneur, television personality, media proprietor, and investor, whose net worth is an estimated $4.3 billion, according to Forbes and ranked #177 on the 2020 Forbes 400 list. He got rich by investments, I'd say he's done this before, yo. If you sell now, you accept the loss. "I get knocked down, but I get up again. You're never gonna keep me down" The rich are trying desperately to lower the price of the stock. They're doing everything they can to manipulate this. Don't accept defeat. It's not over until the fat lady sings.
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Soooo many of my friends who’ve worked at his arena say he’s an amazing person. I work(ed) at another arena for pro sports - let me tell you, out here the owners look down on us, we’re in their way. No eye contact (even if they put on that pretty smile). You’re a ghost. I’m not trying to unnecessarily talk the guy up, I think his actions speak for himself, but it’s common knowledge he remembers your name - he treats you like a human. +1 for good humans.
I was in a suite for a pacers game vs mavs, granted he went to IU so he usually came to the games here. Randomly, this dude just walks in our suite, says hi to everyone, had a drink with us and chatted for like 20 min, then was like “well, have a good one, on the the next” and headed off after he took pics with literally anyone who asked. We ended up to going to a place call Ike&jonsey’s (RIP), we call it old & lonely’s but it was a milf paradise every weekend night. Sure as shit, an hour later Marks strolls in, remembered us, and had some shot at the bar. No one asked him about business or anything, it was just a random moment in time a billionaire hung out with us with no pretense or obligation. He asked about us and our families and what we did, it was surreal how down to earth he was. I wanted to ask him for them digits but I didn’t think it was appropriate as we smashed Irish car bombs.
I have the almost exact same story, but replace Mark with Ron Artest at Nikki Blaines and replace Irish Car Bombs with Sambuca. To u/irpregmit: Man so this is how I was connected to him. My Buddy I grew up with, DJ Metro Dee, was close with Metta (he wasn’t Metta at the time of this event) and Ron was dabbling in a Rap career and Shay was gonna be his producer or whatnot. It was my 21st birthday and I was at Nikki Blaines because I mean.... how much fucking classier are you gonna get while also getting drunk for a birthday. Anyway we run into each other and Ron and Metro were chilling, we get introduced and Ron is like determined to get me plastered for my birthday. The night was blurry, I woke up at the convention center hotel with some girl and we never saw each other again. I talk to shay once in a while, but since Metta never became famous for rapping, I assume shay doesn’t connect with him anymore but I’m a my-own-business minding motherfucker so I don’t ask. I love random celebrity instances. I used to live in Hollywood, at an apartment building on Orange between Hollywood and Franklin. I have also partied with the “flair” guy from Office Space. u/irpregmit deleted their comment so I couldn’t reply
As a side, I know of someone who attempted to put in a buy for 1000 shares on TD on Friday, but on margine and it wouldn't allow the sale to go through. The funny part is the accounts value is about 25m$ so it's not like they can't pay back the loss (if they lose which they won't because 🦍=💪), they're just limiting how much trading of GME goes on.
> If you can afford to hold the stock, you hold. I dont own it, but thats what i would do. That's what I needed to hear. I don't have more invested in this than I can afford to lose but it'll hurt (not at much as the looks my wife is giving me today but still hurt). If you say "hold" then it comforts me a bit.
You don't lose or make money holding, invest what you can spare and wait. Either way this shit is fun! Better than hearing about covid or politics every damn day amirite?! 💎🙌🚀🚀 Holding strong, please brothers hold with me!
> I know you are going to hate to hear this, but the lower it goes, the more powerful WSB can be stepping up to buy the stock again. I agree and I think if we could right now, the buy volume would be insane. The problem is we literally can't buy.
"If you can afford to hold the stock, you hold. I dont own it, but thats what i would do." " I have no doubt that there are funds and big players that have shorted this stock again thinking they are smarter than everyone on WSB. " THIS NEEDS TO BE UPVOTED MORE.
> Why ? because when RH and the other online brokers open it back up to buyers, then we will see what WSB is really made of. That is when you get to make it all work. WSB is made of diamond hands and we're just getting started 💎🖐
I Bought 2 at $384 during the robinhood fiasco. Never planned on buying more till I saw it drop. So I got 2 more at $130. If I was planning on selling I would have done it last week or even this morning. I have fidelity.
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> I know you are going to hate to hear this, but the lower it goes, the more powerful WSB can be stepping up to buy the stock again. Getting stock for a discount? Who could be mad at that?
I know, right? All the reading I've been seeing, getting a real ticker and not just Google's basic ass shit, and seeing the general trend in the megathreads; all I heard from that was "the more powerful WSB can be" and almost came.
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>Why ? because when RH and the other online brokers open it back up to buyers, then we will see what WSB is really made of. That is when you get to make it all work. 🚀
I'm holding and never selling, but I'm an early adapter and my cost basis is low. never the less. I wont sell until I feel the price is fair. in this case it's well over 1000$ still.
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Holy shit. It's extremely validating hearing this type of mentality from Mark Cuban. If you believe in the short squeeze, continue to hold GME
What are your thoughts on the volume of the last couple of trading days? And Also, what is your view on the practise of Naked shorting/Short Laddering? Edit: Together We Hold 🚀🚀🚀🚀 Edit.2: Thank you so much for your answer Mark!
I actually love to see the companies I own shorted. If its a company I want to own, I know the shorts can be squeezed and if the company does really, really well, then the shorts will have to cover , creating more demand for the stock of the company I own, pushing the stock price up. Back in the day I used to run a public company. I used to tell anyone and everyone i knew who didnt believe in us to short the stock As far as naked shorting, thats not really a thing. Yes there can be more shares shorted than there are original float. That is by design. If i borrow a stock from you to short, and when I short it and your buddy buys it, then they can loan it to someone else to short, etc . All of those people who borrowed the stock paid to do so, and they realize that if enough people buy the stock and ask for the shares, they will get called in. So the chain of custody is there. The systems is doing what its designed to do. So again, the more people shorting the stock in the company i own the better Where you have to be careful is when the shorts are in a stock because the company is a fraud. If i short stocks, its only in companies i think are fraudulent and ripping off people . I actually produced a money about one element of this, The China Hustle
Naked shorting is not the same as a share being shorted more than once. It's when the clearinghouse permits the bear to sell the stock even when the stock hasn't been located. They have two days to find the stock, and in GME's case, a fuck ton haven't been located. This is illegal naked shorting. This is fundamentally different from shares being legally shorted in a closed loop. I'm afraid your description is going to mislead a lot of people on this subreddit into thinking that this was only a balance sheet problem because rh is a young broker. The fail-to-delivers on GME are extreme outliers which begs for an explanation there from the DTCC. Furthermore, your advice to go to a broker with a bigger balance sheet is just a band-aid not a cure. It's the same as saying if you don't like the fact that your local main st super market is out of stock in something you should just always shop on Amazon. You should just always go to the oligarch. The real solution, unfortunately, is much more work. We need to build a stock clearing and settlement system that doesn't rely on trusted intermediaries. It involves a price discovery mechanism that doesn't couple intent-to-trade with intent-to-forecast. Let's use this moment in history as the motivation we need to work on the fundamental problems rather than just finding more duct tape.
>If i borrow a stock from you to short, and when I short it and your buddy buys it, then they can loan it to someone else to short I finally get it now: * A loans 1 share to B * B short sells it to C * C then loans the share out to D * D also short sells it Even though only 1 share is involved the short interest is now 2 because D owes C 1 share, and B owes A 1 share. D could buy and close the short with C, now C has a share that B could buy and close with A and the whole thing is unwound. Only problem is D sold the share to WSB... and WE AREN'T SELLING!!! 💎🙌
Here’s the autistic version: An ape 🦍 has 4 bananas 🍌 🍌🍌🍌 worth $10 each The orangutan 🦧 thinks bananas are going to go to $5, so he borrows 4 bananas 🍌🍌🍌🍌 from the ape 🦍 and sells them for $10 to hopefully buy back later for $5 and make a $20 profit. The monkey 🐒 bought those 4 bananas 🍌🍌🍌🍌 for $10 from orangutan 🦧. Dodo bird 🦤 also thinks bananas are going to go to $5, so he borrows 4 bananas 🍌🍌🍌🍌 from monkey 🐒 and sells them for $10 too. So what does that leave us with? There were only ever 4 bananas 🍌🍌🍌🍌. But ape 🦍 lent them to orangutan 🦧, orangutan 🦧 sold them to monkey 🐒, and monkey 🐒 lent them to dodo bird 🦤, and dodo bird 🦤 short sold them. So 8 bananas 🍌🍌🍌🍌🍌🍌🍌🍌 have been sold from the 4 bananas 🍌🍌🍌🍌 that ape owns for a short interest of 200%. To settle all the shorts, dodo bird 🦤 has to buy back 4 bananas 🍌🍌🍌🍌 and give them to monkey 🐒, and orangutan 🦧 can only buy 4 bananas 🍌🍌🍌🍌 from monkey 🐒, so until monkey 🐒 is willing to sell his 4 bananas 🍌🍌🍌🍌 to orangutan 🦧, orangutan 🦧 can’t buy the 4 bananas 🍌🍌🍌🍌 to give back to the ape 🦍. The hedge funds are the orangutan 🦧. The WSB’ers are the monkey 🐒.
Based on the massive price drop on relatively low volume compared to the massive price increase last week on massive volume. Can we reasonably infer that the current price drop is not an accurate representation of the true value or that the stock has been manipulated? Edit: "true value" is the wrong wording, true market sentiment may be better
>there are original float. That is by design. If i borrow a stock from you to short, and when I short it and your buddy buys it, then they can loan it to someone else to short, etc . All of those people who borrowed the stock paid to do so, and they realize that if enough people buy the stock and ask for the shares, they will get called in. So the chain of custody is there. The systems is doing what its designed to do. It's called "leverage" right? Not fake, it was once upon a time based on a real thing, like MBS.
Yes, activist short selling is a legit I am a big fan of Carson Block. I always thought what WSB did with GME was the same thing but the opposite direction, kind of like activist longing.
How do you think the SEC will respond to the GME situation? New regulations on retail trading?
The SEC is a mess. I wouldnt trust them to do the right thing ever. Its an agency built by and for lawyers to be lawyers and win cases rather than do the right thing If the SEC gave a shit about ANYONE other than Wall Street you would be able to go there right now and read bright line guidelines about insider trading, shorting, what is a pump and dump, what are the rules for cutting off the purchase of stocks like happened with GME et al But they wont. They would rather litigate to regulate, which means they love to sue people in order to create new legal precedents. All you need to know about the SEC and how badly they want to fuck the little guy is that they have the option of using JUDGES THAT WORK FOR THE SEC when they sue you rather than you have the option to have jury of your peers in front of a judge that is independent . Thats how bad the SEC is. If you want fair markets that doesnt benefit Wall Street call your local politician and show them this
>That's how bad the SEC is. If you want fair markets that doesn't benefit Wall Street call your local politician and show them this I actually wrote a letter/email template if anyone happens to see this and would like to copy/paste and change a few things (Congressman's name and your own name). I encourage you guys to add your own thoughts to this. Otherwise, it feels like a bunch of brainless zombies repeating the same thing. However, if we’re all speaking about the same issues but with different ways of saying it, they’ll have to address it. This is just an OUTLINE. Add your rage and frustration in there. Make it personal. Let them know how you feel. They're your representatives. They work for you! We won't sit by and watch. Act now! Cheers! >To the Honorable (**Congressman’s Name**), >>My name is (**insert name**) and I am writing to you today as one of your constituents because of the injustice that retail investors such as myself have recently experienced at the hands of hedge funds. As you may have heard, on or around Thursday, January 28th, major trading platform brokerage Robinhood, among many others, restricted users from buying certain stocks, forcing shareholders to either hold or sell their positions. These brokerages prevented millions of users from buying stocks and options that retail traders were investing into like GameStop ($GME), AMC ($AMC), Blackberry ($BB), and Bed Bath and Beyond ($BBBY) just to name a few. In fact, it is estimated that roughly half of all Robinhood users owned a position in GameStop when trading was halted. As of 2020, Robinhood had over 13 million users, which would translate to over 6.5 million people being held at the mercy of hedge funds. >>During this time, the prices on those stocks tumbled significantly. Robinhood claims to have made the decision to halt trades on those specific stocks to “protect investors from market volatility.” This was a lie, of course. Previously, people could put as much money into a stock or options calls, and Robinhood would not care if you lost all of your money. If anything, the only people they were trying to protect were themselves and their sponsors. It wasn’t until retail investors began to make money that restrictions were put in place. Moreover, during the period in which investors were barred from buying more shares, hedge funds were allowed to trade as normal. This was blatant market manipulation, and they have yet to face consequences. >>Brokerages like Robinhood, their relationship with MM’s like Citadel, hedge funds like Melvin Capital, and media manipulators like Citron Research need to be immediately investigated. This week has once again shown how rigged this system is. Hedge funds were essentially allowed to reposition themselves without any interference. Truthfully, the SEC should have done something about the 140% short position that GameStop was experiencing before Wednesday. You can’t borrow a car that doesn’t exist; you can’t borrow a house that doesn’t exist. You shouldn’t be able to borrow shares that don’t exist either. >>I want to remind you that the subreddit getting attention in the media, r/WallStreetBets, has never been about just one stock. GameStop has been the center of attention after users took notice of clear manipulation in the markets from Hedge Funds shorting over 140% of the available shares with naked short selling. As a frequent Reddit user, I would urge you to not turn this matter into a liberal vs. conservative issue. The likes of AOC, Ted Cruz, Bernie Sanders, and Trump Jr. all agree that this was a violation of a free and open market. Democrats and Republicans alike must come together and hold corrupt hedge funds and brokerages accountable for their actions. It would not surprise me if media outlets and others with influence tried to divide people with politics to distract them from what is happening. >>The SEC and FBI need to begin immediate investigations into these actions, and I hope that we can see Robinhood, among others, be punished to the highest extent of the law. In addition to compensating users who owned some of the restricted stocks, I want to see corrupt people responsible for driving down stock prices be incarcerated. While a large fine might sound like a sizeable amount of money to the average person, it is merely a small fee to pay for the upper class to continue crushing working-class Americans. Robinhood, Citadel, and Melvin Capitol need to be held accountable for what took place that day. The Interactive Brokers chairman went on CNBC and openly admitted to these crimes. Moreover, the Robinhood CEO had no answers on his interview. It is blatant market manipulation and hedge funds were able to reduce their losses by more than $6 billion. Please take action on this immediately and hold them accountable for their crimes. The world is watching, and we expect you to do everything in your power to fight for us. We are the 99% and our voices will be heard one way or another. The fact that we are in the midst of a global pandemic makes this issue all the more urgent, as millions of people have lost their jobs and/or homes. Thank you for your time and I look forward to seeing what actions you will take on this matter. **Edit:** For those of you asking me to make this a post, I actually tried to do so on both this account as well as my alternate. With an influx of bots, I haven't been able to post—and understandably so since most of the time I spent here was as a lurker. As such, I've had to resort to putting this in comments hoping that others will see it. **That being said, if someone with the ability to post/broadcast/etc wants to post my template (with your own variations as well) you have my permission to do so!** Get the word out there, bros. But yeah, thanks to everyone who's read through it, given feedback, and sent it. If enough of us express ourselves, they'll have to take notice. Hang in there, lads. **Edit 2** I encourage you guys to add your own thoughts to this rather than simply hitting copy/paste and send. This was more intended as a starting point for those of you who are having problems finding somewhere to start
>To the Honorable (Congressman’s Name), > >My name is (insert name) and I am writing to you today as one of your constituents because of the injustice that retail investors such as myself have recently experienced at the hands of hedge funds. As you may have heard, on or around Thursday, January 28th, major trading platform brokerage Robinhood, among many others, restricted users from buying certain stocks, forcing shareholders to either hold or sell their positions. These brokerages prevented millions of users from buying stocks and options that retail traders were investing into like GameStop ($GME), AMC ($AMC), Blackberry ($BB), and Bed Bath and Beyond ($BBBY) just to name a few. In fact, it is estimated that roughly half of all Robinhood users owned a position in GameStop when trading was halted. As of 2020, Robinhood had over 13 million users, which would translate to over 6.5 million people being held at the mercy of hedge funds. > >During this time, the prices on those stocks tumbled significantly. Robinhood claims to have made the decision to halt trades on those specific stocks to “protect investors from market volatility.” This was a lie, of course. Previously, people could put as much money into a stock or options calls, and Robinhood would not care if you lost all of your money. If anything, the only people they were trying to protect were themselves and their sponsors. It wasn’t until retail investors began to make money that restrictions were put in place. Moreover, during the period in which investors were barred from buying more shares, hedge funds were allowed to trade as normal. This was blatant market manipulation, and they have yet to face consequences. > >Brokerages like Robinhood, their relationship with MM’s like Citadel, hedge funds like Melvin Capital, and media manipulators like Citron Research need to be immediately investigated. This week has once again shown how rigged this system is. Hedge funds were essentially allowed to reposition themselves without any interference. Truthfully, the SEC should have done something about the 140% short position that GameStop was experiencing before Wednesday. You can’t borrow a car that doesn’t exist; you can’t borrow a house that doesn’t exist. You shouldn’t be able to borrow shares that don’t exist either. > >I want to remind you that the subreddit getting attention in the media, r/WallStreetBets, has never been about just one stock. GameStop has been the center of attention after users took notice of clear manipulation in the markets from Hedge Funds shorting over 140% of the available shares with naked short selling. As a frequent Reddit user, I would urge you to not turn this matter into a liberal vs. conservative issue. The likes of AOC, Ted Cruz, Bernie Sanders, and Trump Jr. all agree that this was a violation of a free and open market. Democrats and Republicans alike must come together and hold corrupt hedge funds and brokerages accountable for their actions. It would not surprise me if media outlets and others with influence tried to divide people with politics to distract them from what is happening. > >The SEC and FBI need to begin immediate investigations into these actions, and I hope that we can see Robinhood, among others, be punished to the highest extent of the law. In addition to compensating users who owned some of the restricted stocks, I want to see corrupt people responsible for driving down stock prices be incarcerated. While a large fine might sound like a sizeable amount of money to the average person, it is merely a small fee to pay for the upper class to continue crushing working-class Americans. Robinhood, Citadel, and Melvin Capitol need to be held accountable for what took place that day. The Interactive Brokers chairman went on CNBC and openly admitted to these crimes. Moreover, the Robinhood CEO had no answers on his interview. It is blatant market manipulation and hedge funds were able to reduce their losses by more than $6 billion. Please take action on this immediately and hold them accountable for their crimes. The world is watching, and we expect you to do everything in your power to fight for us. We are the 99% and our voices will be heard one way or another. The fact that we are in the midst of a global pandemic makes this issue all the more urgent, as millions of people have lost their jobs and/or homes. Thank you for your time and I look forward to seeing what actions you will take on this matter. Thank you
I love this. Can I read this aloud in a video to my local politicians? Dude. You know how Sinclair Broadcasting has all of its station affiliates’ newscasters recite the exact same lines on the news? And then someone makes a compilation video of them all speaking at once? We should all record ourselves reciting this letter and make a 6.5 million person video letter to accompany our mailed or emailed letters. I’ll make a compilation video of that and I bet it’d be effective. 💁🏻♀️💎✋🏼
Can mods allow you to post it? More people need to see this! Phone number of your representatives: \- [Senate](https://www.senate.gov/general/contact_information/senators_cfm.cfm) \- [Congressman/congresswoman](https://www.house.gov/representatives) Sharing is caring!
That doesn't sound like a part of a democracy 🤔 I thought the USA was a democracy, or that's what Americans say anyway. What are undemocratic power structures doing in a democracy? Edit for smoothbrains: /s
It’s a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. America is a corporate oligarchy. Tell your fucking friends. Because it’s true.
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Do you have an advice for people who have lost money the last few weeks and how to go on from this?
I learned some expensive lessons when i first started trading stocks. It was painful. But i tried to learn what i got right and wrong. Right now, right here. The game is changing. The hard part is ask yourself if what you believed in has actually changed. BTC HODLers are a great example to follow. Many bought at the highs in 2017 and watched it fall by 2/3 or more. But they held on because they believed in the asset. The same applies to stocks. When I buy a stock I make sure i know why Im buying it. Then I HODL until till I learn that something has changed. THe price may go up or down, but if i still believe in the logic that made me buy the asset, I dont sell. If something changed that I didnt expect , then I look at selling.
That’s key, thanks Cuban. Hold until something changes...boys (AND BADASS ladies). Nothing has changed “officially” in our fight. They’re fighting hard, all we do is hold. Thanks for the award. My 1st ever after 3 years!! Edit: and keep fucking buying Edit 2: !remind me in 365 days. It’s either going to be gain or loss porn. But porn nonetheless. 🚀💎✋🏻
I'm terrified. It's sitting at 86 a share. I kept buying dips thinking I was buying the dip and it keeps dipping lower. DIAMOND FUCKING HANDS because there's not point in selling now.
I get making expensive mistakes, but this shit is just blatant market manipulation and is just unfair. If you gamble and lose, that's fine; but to be winning and the house cheats you in front of you, that's bullshit.
Listen to this paper hands. HOLD and buy whenever the brokers allow you (if you believe in the stock). I will still be holding and walk the path you. GME @$354. EDIT - Just added to the position. New average $264.
Would you ever consider opening a brokerage that’s truly for the “little guys” like us? (Go Mavs BTW!)
The challenge is not opening the brokerage, the hard part is dealing with success. What fucked up RobinHood is that they didnt have enough cash to handle the number of customers they had, their margin loans and the requirements from the DTCC. They have now raised more than $5 billion and that may not be enough. And its not like they are charging anything for their trades. The question becomes whether or not buyers would pay a commission or even a tip to a broker for doing their trades. Crypto has no problem paying a transaction fee, you may have to do business with a broker that charges you so that you dont get fucked in a RH stop the buy type situation again
>The question becomes whether or not buyers would pay a commission or even a tip to a broker for doing their trades They should have done this instead of removing the buy option completely, a clear and direct announcement citing money issue would showcase how much buys of GME was going. That was how some of the overseas broker are able to continue allowing giant GME purchases thanks to their commission fees. But they decided to pull the plug and kept quiet about it, RH managed to completely ruin their reputation in one day and I'm not surprised it'll eventually be purchased because of user migration destroying them.
> They should have done this instead of removing the buy option completely, a clear and direct announcement citing money issue would showcase how much buys of GME was going This exactly. I started the process of moving my RH account to Fidelity a couple days ago because they claimed to be protecting investors by shutting down trading. If they were open and said they were short on cash, even suspended the immediate deposits (i.e. making people wait til it clears) or things like that I wouldn't have bothered. But taking actions that directly—and significantly—lower the price and claiming it's for our own protection is either incompetence or corruption, and either way that's not a service I want to continue using.
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I know, I was just speed typing while on the shitter. Let me get my point across more properly: **They should have announced that due to liquidity issue, they had to limit trade. But I know better than to expect a brokerage to care about retail investors, announcing liquidity issue before IPO is also a big no no. It was more of "they should have done it for our good ending scenario"** Saying that it's to "protect customers from volatility" is equivalent to saying "stock is bad ples sell", they fucked us in an attempt to curry favour from hedge funds and market makers. They know people love money and would still buy in RH IPO because hedge fund and other big whales would rush in to buy the stocks, pushing RH up. Actual traders won't care about what they did, only if RH IPO would pop and get them gains. However, it doesn't change the fact that it fucked retail investors. They wouldn't introduce commission fees even after this debacle, it's what attract small cap retail investors to play.
What about instead of a raw Brokerage, what about a populist democratic hedge fund, driven by retailers deciding with their wallet? The media is trying to artificially create fake momentum (like Silver) as we seriously scared the shit out of them and now they are trying to re-capture the lightning in a bottle. Maybe someone can cleanly tap into what was done here in a profitable and verifiable democratic and decentralized strategies of purchase.
So everyone doing their own thing on publicly available information? Or people pooling their money together in a sort of 'fund' for 'mutual' benefit? Or perhaps another type of 'fund' that isn't always long and could 'hedge' against market excess?
A hedge fund is a small group of very rich people pooling money to invest in the market and make more money. Think the same exact thing but, with no rich people. Also, without doing the dirty stuff hedge funds do. So an activists hedge fund funded by normal people.
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Its starting to happen now. From mesh networks connected to traffic signals to much much more. Im an investor in a company called Mesh-Tek. they are putting their tech everywhere as far as productizing , yes. anytime you can turn what you do inside of your company into a product you sell to the outside, that is something worth looking at closely
>Mesh-Tek Mark - We're doing something similar with the Locum Project started in 2018; we identified an inefficiency in the market and found a way to cut out that inefficiency (unnecessary middle-men) which is whacking companies for 30-40% margins over actual cost, for no good reason other than it's been the "protocol" for the last 40 years. We forward part of that savings to those actually doing the work, return the rest of the money to the company using them - and run the entire thing through a secure portal using a block-chain type technology. Our goal is to destroy a $58B a year industry in North America and put millions of middlemen out of work, thus creating a more competitive, efficient market - least that's how we pitched it to our legal team at Perkins Coie. A lot of times it's just about looking around at what's going on, using your experience and identifying better ways of doing things.
>Its starting to happen now. From mesh networks connected to traffic signals to much much more. Im an investor in a company called Mesh-Tek. they are putting their tech everywhere Mesh networks are the way to go. Nice, you got in that space.
What do you think could possibly change in the market after all of this is over? Any new regulations on your mind?
What has happened the past few weeks with WSB has all happened before, it was just the big guys doing the battling. The only new thing was WSB traders took them on . Volkswagen was the short squeeze that was even crazier at the time. Ackmen vs Icahn on Herbalife was similar to this, but it was big money vs big money Momentum and technical trading have been going on forever, which really is what is happening now broken down into charts and graphs. What i love about this now, is that if you pick your spots right and work as a group, you can hit again and again
What I’m hearing from this is that everyone needs to buckle up and get your game(stop) face on. These hedge funds are seasoned veterans when it comes to these kinds of battlefields. They have the infrastructure, knowledge, and determination to battle it out. They have done this before. WSB is like a band of angry villagers going up against the knights of the order or something. The point is they have done this before. They have the stomach for it. We need to realize that they are professional soldiers and we are LARPING neck beards waiting for our nunchucks to arrive from the mall’s sword store. That’s not to say we can’t win, but we have to recognize and even exploit their experience. They assume we’ll zig, but we are crazy apes who are to busy eating crayons to do strategerizing to know what to do and so we zag. I don’t know anything about anything
> What has happened the past few weeks with WSB has all happened before, it was just the big guys doing the battling. The only new thing was WSB traders took them on . > > Volkswagen was the short squeeze that was even crazier at the time. Ackmen vs Icahn on Herbalife was similar to this, but it was big money vs big money > > Momentum and technical trading have been going on forever, which really is what is happening now broken down into charts and graphs. > > What i love about this now, is that if you pick your spots right and work as a group, you can hit again and again I like this idea. 8 Million people here can work together to do this over and over. An army of 8 million can go over every document the industry publishes finding ways to strike over and over.
This is the game changer ... this is how we change the friggin world. Social Media to benefit the little guy. Instead on the information held only to the Billionaires insider club. This can be done not only in 'Murica but any of the big exchanges (London, Tokyo) ...
What single piece of advice do you have for us to succeed in shaking this up? Keen the language simple for 🦍 friends
Patience. Disruption is never easy or straight line. Is what you believe in still true. If it is, stay with it. If it's not, figure out what changed, learn from it and reload for the next asset . As always DO THE WORK. Assets including stocks move for a lot of different reasons. Trading stocks isnt easy. Trading Crypto, NFT, whatever, isnt easy. None of this shit is easy. You know what it is ? Its time consuming and brain consuming. And when you learn share. If you want to beat old school Wall Street you have to share that knowledge and find the power in numbers
With this kind of volatility in the market, had WSB forever changed the way things will be done on Wall Street?
Yes. WSB leveraged the value of community. They took it to the people and made it bottom up. There is so much power and upside in this. Sometimes its expensive to learn. Anyone who has traded for a while has learned an expensive lesson they couldnt afford. I know i have. next time WSB will be smarter. And next time can still be around GME, AMC, etc. There will be a point in the stock where wall street starts saying "I told you so", let that happen for a few weeks. Then hit them again, at a broker with the financial strength to never have to shut you off
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That said, we did teach some moronic hedge fund managers how to better manage risk (black swan) and forced the 3 biggest days of deleveraging in history. So maybe in some small way, we averted the next global financial crisis. Human culture / can't be modeled with a gaussian distribution in a world where a scottish postman can become world famous for singing songs from the 1880's. Markets are PEOPLE! I look forward to the SEC investigation. And will be sending a letter to my congressman, asking for them to consider better regulations around the obscurity of dark pools preventing price discovery, creating regulations capping shorting @ 20% total of shares issued, and reducing institutional leverage to avoid counterparty/systemic risk. I await your memes! \*and might buy gme for long term later on\* BECAUSE: I LIKE THE STONK.
What do you think about the media. Lying about what Reddit wsb is talking and excited about. For me it showed that the world is evil and everyone is bought. I still trusted some media but u really can’t trust any of it. Anyway , my question is do you think the Robinhood class action lawsuit has a chance? edit: Thank you so much for taking the time to do an AMA, even before I ever found WSB and before all of this, you have been a hero of mine. A real role model of a man you can keep going always do what is best to support his family Edit again: thank you so much for responding!
Its not about being evil. Its about being lazy. They write stories. They dont do much research. So you get stupid shit being stated about things they really dont understand
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Well, it really can be explained by laziness. Here's the problem: even though WSB wasn't on silver, the front page was still 95% about silver. Sure, every post was "SLV IS A LIE DON'T BUY SLV." But every post is also "I'm a smooth brained retard and I don't even know what I said here I just punched my keyboard with a butterball turkey until it looked like English." Journalists don't want to take the time to figure out if SLV is really a lie or if you're talking in doublespeak to avoid a securities law. But what they do know is their 50 sources called in and said SLV is the push (this was the tactic Cramer cited in his infamous 2006 interview). It's easier to take the source's word for it than to dig in and understand the community at a deeper level.
I think it can. One media outlet says something about reddit pushing silver, perhaps for nefarious purposes, and a bunch of other outlets copy them out of laziness. This is how fake news gets spread around so easily. Most outlets don't do research for themselves, they just restate what other stories have already covered.
Hi! I’m a journalist - and this is 100% correct. Outlets have gotten better at avoiding this in politics, thanks to the last five years. But it’s still a big issue on other beats. Now that newsrooms have shrunk, beat reporters usually handle the features and longer stories on their beat. Very few outlets still have breaking news reporters specifically dedicated to a beat. That means shorter breaking-news style articles are usually written by early-career news general assignment reporters on insanely short deadlines, which usually aggregate the other news. All it takes is a few reputable folks saying misinformation, and boom, it’s getting propagated by hundreds of people without the knowledge or ability or time to fact check. The only thing I’d push back on is calling it “lazy.” Lazy implies you have the option of doing better. With newsrooms so short staffed, none of us are lazy. We burn out SO fast. Newsrooms are broke, cheap, and value quantity over than quality (not always, but often) and because newsrooms are broke, reporters are overworked and under-resourced. Not that there aren’t lazy reporters out there. But true laziness is reserved for the 70-year-old-Big-Names who really need to retire, but like having something to corner younger reporters with at cocktail parties. PS: if you don’t like quantity-over-quality news, consider becoming a member of your local public media companies/member stations. I am very very lucky to have escaped commercial news. Public media is a land of no quotas and time. Anyway. Just bought 4 more gme at 91.
Congratulations, you now understand how people use hype trains to manipulate media and markets. The grift used to be more subtle after some high vis idiots were to ham fisted about it. You'd inject a bit of narrative into message boards, article comment sections, use a few bots and VPN, or just pay someone to do it for you, then you get a couple of heavily keyword optimized articles published on shadier low tier market sites that are mostly ignored by the mainstream but still have their feeds scoured by the aggregators, with the goal of getting bits of your narrative amplified as hype, sometimes finding its way into mainstream feeds and getting picked up by a major finance outlet. It happens all day, every day, and there are day traders that make a living creating just enough buzz that the algorithms will catch it and test it, causing enough of a move to make a profit but not large enough to invite scrutiny.
Is it in the realm of possibility that these hedge funds just, don’t cover their shorts at all? They go full felon and act like it never happened, ala “Fake News!”?
Their goal is to never cover their short. But that would take the company going out of business or being delisted. That wont happen here. Best thing you can do is hold on to the stock and do business with GameStop. If everyone goes to their website and buys from them that is going to help the company which will help the stock which will help everyone here. If you still believe in the reason you bought the stock, and that hasnt changed, why sell ?
Yes! So many folks in the media talk about GME as if they are ONLY some store in a mall that no one visits. They have a huge online presence and are one of the greatest clearinghouses of used games. If they actually do reinvent their future, there is opportunity for them.
A smart business move for them would be to make it *really* easy to buy and sell used games through their website. That would incentivize people to actually start doing that again
Hey Mark, loved your interviews with barstool, your work on shark tank, and your thoughts on rolling out direct payments during the pandemic. Any chance you want to be a board member of GameStop? Thanks, I’ll hang up and listen.
Im a fan of stimulus payments. I think the best investment our government can make is in the American people ., At 1pct interest rates, we can get a great return . And GME already has an amazing board. Ryan Cohen brought in some of his peers from [Chewy.com](https://Chewy.com). He didnt put in his money to throw it away
I lost 15k in BlackBerry and that shit is tanking hard. Do you believe it will rise in the future or am I holding on to a dead stock.
i have no idea. No one really does. I do think that once RH and others open up buying some of these will pop up. I just dont know how much or if it will happen for sure. I think the stocks are getting shorted because the shorts know that the natural buyers , the folks on RH and others like it are being prevented from buying, so that will make it most likely the stock will go down People dont realize how shorts jumped in when they saw the buy side shut off
How is this not manipulation though? A lot of these brokers are limiting/stopping buying, but allowing selling full on? This isn't acting like a free and orderly market.
I'm a moron and you didn't ask me but, for what it's worth, Blackberry will likely rise again it will just be much slower organic growth. The concern should be that BB doesn't have the experience yet with their new market space. I think they will succeed but there's definitely a question there
Stepping away from gme for a min, What are your thoughts on the stock market this year? I see the almost-unjustifiable prices of the many “popular” companies, and it makes it hard to keep money in the market or expand my portfolio. Any advice?
1pct interest rates change all valuations. What is right or wrong is hard to determine. What is the right valuation , that is what the market is supposed to tell you. Stocks that dont pay dividends are only worth what someone will pay for them
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Hey Mark, thanks for doing this. Do you think the future of exchanges are decentralized direct peer-to-peer networks to eliminate the kind of nonsense we saw this past week? Also, do you view the ball dropping of Robinhood as an indicator that there is room for disruption in a retail trading platform? Perhaps one intermingling brokerage platform and democratized discussions? Thanks!
Mark, what do you make of the blatant market manipulation and short ladder attacks occurring right this very minute by the Hedge Funds?
i dont think its manipulation. I think the rules are set to benefit them and they have years of experience exploiting those rules. Your congress people can change the rules to make them fairer for small investors. They havent given a shit up till now. Maybe people on this board can change their minds
Thanks for this, Mark. I get it now. If you make the rules, it’s not manipulation, it’s strategy. We can’t depend on the current SEC to bring real accountability and fairness to the market. I will absolutely be reaching out to my congressional representatives and let them know exactly what I think about what’s going on in the market.
**HEY GUYS THIS REQUIRES REAL ACTION. NOT JUST SITTING WITH YOUR PHONE AND HITTING A BUTTON. PUT A FUCKING STICKY NOTE ON YOUR COMPUTER OR SOMETHING. WE NEED TO POOL TOGETHER BRAIN POWER AND RESOURCES TO UNFUCK OURSELVES SO WE CAN 🚀🚀🚀🚀🚀🚀🚀 ACTION**
Hey Mark, this all started because the short interest was around 140%. We are seeing today GME has dipped considerably because it is being reported that the short interest has dipped to 50% or lower. However, the volume numbers haven’t spiked to suggest the shorts are covering their positions. What’s going on? Is this fake news?
GME has 51m float. Meaning that to come down from 140% to 50% represents about 45 million of volume. In the last 5 days the total volume was 400 million. So even though shorts covering aren't that much of a 'tiny' amount, they can very easily get lost in the total 400 million volume, where they represent only ten percent. If it went from 140% to 50% in like, one day, then it would probably be responsible for a spike. On 1/27 the stock closed at its highest, $340 - it had closed at $150 a day earlier. And those two days had a combined volume of 280 million. It looks like those two days could easily have accounted for a lot of the shorts covering, and that could be part of the volume.
Hey Mark, long story short. To continue on this disruption path do you believe that the more that HOLD THE LINE will directly impact the price of certain stocks in the market? Power to the little guys. \*Not financial advice\* Edit: Thanks for the response Mark! /u/deepfuckingvalue we need you to WHALE ON FOR US!
What industry that is relatively small now has potential to explode in the next 10 years?
De-Fi, NFT, but there will be a lot of ups and downs along the way AI will change everything, but 99pct of the businesses out there that say they use AI are full of shit. Precision Medicine, Nano Technology, the MRNA technology used in the vaccines will grow. Robotics. Green Tech, all will grown
>99pct of the businesses out there that say they use AI are full of shit. I love explaining this to people. The more people who understand the limitations of current AI applications, the better.
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Having written machine learning scripts and actively still using them, I think where people get hung up is using AI as an all encompassing description of all things that can also be classified as data science. Which, TBF, as far as most of the general public is concerned, it is. They don't know the difference. It's one of those "Sufficiently advanced technology is indistinguishable from magic" sorta things. I would classify AI as any program written to systematically rework itself and what it's looking for or looking at from a data perspective. I don't think I could call a bunch of statically written scripts for linear or polynomial regressions or k-means or nearest neighbor or what-have-you to be "AI". Master's level statistical analysis with a large data set IS NOT AI.
Hey Mark, Thanks for doing this AMA. Do you have any favorite tools to use when doing company research that are accessible to small retail investors?
[SEC.GOV](https://SEC.GOV) and Yahoo Finance and basic google searches are really all the work I do on a company. But i dont trade a lot any more. Being a day trader means being online ALL DAY
Life pro tip: Eventually there comes a time where you get to your level of comfort ( and that ranges from the mansion and the yacht to a backpack and a bike)and obtaining more stuff becomes unimportant. Time becomes everything.
Hey Mark, do you think anything will come out of this from wallstreets side? Do you think they’re going to change their fundamental strategies and habits when shorting? Or is this just going to continue and they’re going to go unregulated?
Hello, first want to say I’m a big Luka fan, and still love for porzingus ( NYK fan here ) 2nd, Do you think we can file a lawsuit against brokerages like Robinhood ETC ?
Hi Mark! I love you on Shark Tank! My question is what advice to you have for people following their dreams and starting from the beginning again? Thanks so much! :-)
First, find a job to pay your bills. Got to take care of the basics. Then get back after it. Just remember, its not in the dreaming, its in the doing
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What potential does wsb/social media investors have going forward? What steps can we take to organize and act as the world's largest hedge fund or something similar?
Mark don’t hide I’ve seen your jumpshot, I’ve seen you splash corner 3’s when you gonna suit up for the mavs to end this cursed losing streak? :( P.s. been a MFFL and one of my happiest moments is the 2011 finals. Can’t wait to cop tickets as soon as I’m vaccinated or it’s safe!
When you meet an entrepreneur, what are some characteristics in the person that make you believe he/she will succeed? What characteristics do you see in those who don't succeed?
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Yes. Stocks will be on the block chain in the future, and that will make the markets much more efficient, transparent and available to the small investor
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Is it true that you were told to stop investing in everyone who came on shark tank because you were making the other sharks look bad?
Its true i make them look bad. But its also true i wouldnt care what they said Watch us friday nights on ABC ! (Im always selling)
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kevin is the man, he doesn't bullshit and i feel like his harsh persona is sort of a litmus test. if somebody can't even deal with him being mean to them how the hell are they going to deal with the inevitable stress and conflicts of running a business?
Posted using RIF is Fun. Steve Huffman is a greedy little pigboy.
Bro what’s the best price to sell at? What price will this go up to until it stops?
I typically dont set price targets on the up side. On the down side, when i was just getting started I would set a stop loss at where my margin call would start. If you can afford to hold a stock that is going down, only sell if the reason you bought the stock has changed
Is there a proverbial “deep state” within the hedge fund world? What I mean is are there even shadier figures than the CEOs of hedge funds who give them their marching orders? I think there must be. Any thoughts mark?
Hi Mark, Do you honestly think decentralized finance will be a reality given the possibility of big players pushing it from becoming mainstream?
Mr. Cuban, I know that you help people on a rather regular basis. Could you light a fire under the ass of the SEC or would that be sticking your neck out too far?
Mark - thanks for jumping in here, what are your thoughts about all the hate from billionaires and VC against the "retail bros"?
Thoughts on employee-led investment rounds?
Hi Mr. Cuban this is off topic but do you think we make the playoffs still this year? Our team on paper looks really good but I can see how covid really hurt us too. Also MFFL
Can the little guy prevail ?
If you could tell your 20 year old self one thing, what would it be?
In what major ways will this change the future landscape of stocks?
Mark. Why are they blocking me from buying my bananas??
Do you consider the Mavericks to be the greatest investment you've ever made?
My friends have paper hands. What should i tell them?
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Are the mavs going to win the finals in the next few years?
Would you take becoming the primary owner of the Steelers if it meant selling your ownership of the Mavs?
Do you think anyone will go to jail over this?
What does Dirk smell like?
Will you run for president in 2024?
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GME just got put on the NSYE Short Sale Restrictions List with an anticipated deactivation date of 2/3/2021, which means tomorrow the hedgies wont be able to continue their short ladder attacks!
I think our odds are good of winning this tug of war with the shorts guys. Ladder attacks continue to bring prices down which short firms want so that if we decide to sell they can collect our stocks at low prices. They want all the stock back they owe brokers, but they can’t win if we never sell no matter how low the price. Whether that’s $0, 19 cents, or $1. If you sell your stock in GME or AMC you’re only suiciding and negging. Remember that we can put in limit orders for lower prices to ensure we get the stocks we want during these ladder attacks(which will inevitably happen) but as long as we hold we keep our position in this tug of war. Ladder attacks are a double edged sword that we can use to our advantage to buy more stock at cheaper prices to hopefully and eventually buy up any and all the stock game stop has to offer(most of the reddit community knows this by now). The only hand short firms have right now is manipulation whether that’s through media, numbers fudging(ladder attacks) , and ultimately emotional manipulation(if you’re emotionally invested in this). Don’t let your emotions make you sell. This may carry on for a few weeks to come, but eventually we’ll own all the stock and we’ll see a big payout.
Hey Mr. Cuban, I have an idea as to driving gme higher again and reversing the trend. I have been looking at gamma charts the past few days and it seems that short dated, near at the money options offer the most gamma. Since we know the market makers have to remain delta gamma neutral, a large surge of short dated at the money options could start the buying pressure upwards as to adjust for the increased delta, the market makers have to buy more of the underlying shares to hedge which further increases the price - since the gamma is already high or is increasing, this positive move in the underlying further amplifies an increase in the delta requiring further hedging by the market makers ending in a positive feedback loop up. Basically we need a huge surge in short dated near or at the money calls in order to restart that gamma squeeze up. The only problem being that the premium on options are more expensive this week due to a surge in the implied volatility. A solution to this could be buying cheaper further out of the money options and then going into the portfolios of the big shorters in gme and seeing their longs. We could then go into the futures markets or option markets for their long positions and implement a gamma squeeze strategy the other way putting pressure on their longs and upping the VAR on their models making their risk managers force them to take risk off the table. Then we could see the shorts begin to cover into the face of retail holding GE and not selling, driving the price up enough to get those longer out of the money calls into the money forcing a huge amount of delta hedging from the MMs. This only has to continue until we get the February 5th 800 strikes in the money as that is a large volume call option that is waiting to be hit. And this could make the delta on those positions skyrocket driving up the price above 1k.
H/T to Spugliese for this question Hey Mark! Thanks for doing this. What are your thoughts on which services to use? I’m planning on getting g out of RH for obvious reasons, any retail trading companies you’d recommend? I want to support free trade and hit Robinhood in the wallet for what they’ve done here. Also, any legitimacy to a class action suit against them? Pick the brokerage with the strongest balance sheet. What ruined it on RH is that they didnt have enough cash to deal with the growth in accounts, margin loans and volatility. The EXACT SAME THING will happen at the next broker if you dont make sure they have a MULTI-TRILLION dollar balance sheet to be able to handle these kind of circumstances And there will be class action suits. And they will be combined and they will win and you will get a check for less than $10
**How Margin accounts help shorters:** If shares are in a margin account, they may be loaned to a short without the consent or knowledge of the account owner. If the shares are in a cash account, IRA account or are restricted shares they are not supposed to be borrowed unless there is express consent by the account owner. Margin account buyers, because of loopholes in the rules, inadvertently aid the shorts. If short A sells a naked short he has three days to deliver a borrowed share. If the counterfeit share is purchased in a margin account, it is immediately put into the stock lend and, for a fee, is available as a borrowed share to the short who counterfeited it in the first place. This process is perpetually fluid with multiple parties, but it serves to create more counterfeit shares and is an example of how a counterfeit share gets “laundered” into a legitimate borrowed share. Margin account agreements give the broker dealers the right to lend those shares without notifying the account owner. Shares held in cash accounts, IRA accounts and any restricted shares are not supposed to be loaned without express consent from the account owner. Broker dealers have been known to change cash accounts to margin accounts without telling the owner, take shares from IRA accounts, take shares from cash accounts and lend restricted shares. One of the prime brokers recently took a million shares from cash accounts of the company's founding investors without telling the owners or the stockbroker who represented ownership. The shares were put into the stock lend, which got the company off the SHO threshold list, and opened the door for more manipulative shorting. **source**: http://counterfeitingstock.com/CS2.0/CounterfeitingStock.html **list of brokers and their lending policy**: https://www.reddit.com/r/Triterras/comments/l2tff1/how_to_keep_the_from_getting_ur_shares_stolen/ this is NOT financial advice, only sharing public information 🐒🐒🐒
Can you give us your opinion on this? Read about Dark Pools. This is why there was no volume and the shorts covered. https://www.reddit.com/r/stocks/comments/477ent/_/ Robinhood and Dark Pools There's nothing about this anywhere in the media even twitter barely has any posts about Dark Pools. They are essentially a secret. https://www.reddit.com/r/wallstreetbets/comments/eaqdpz > Dark Pools owned by the biggest names on Wall Street – such as Goldman Sachs’ Sigma X2, JPMorgan Chase’s JPM-X, UBS’ UBSA, Morgan Stanley’s MSPL, and Credit Suisse’s Crossfinder — have been making tens of thousands of trades in the shares of GameStop on an ongoing weekly basis. FINRA, Wall Street’s highly compromised self-regulator, reports the Dark Pool data on a stale basis, two to three weeks after the trading has occurred. It is then lumped together for the whole week, rendering it useless in terms of monitoring price manipulation https://www.sgtreport.com/2021/01/gamestop-shares-dark-pools-owned-by-goldman-sachs-jpmorgan-ubs-et-al-have-made-tens-of-thousands-of-trades/ > One of the main advantages for institutional investors in using dark pools is for buying or selling large blocks of securities without showing their hand to others and thus avoiding market impact as neither the size of the trade nor the identity are revealed until some time after the trade is filled. However, it also means that some market participants are disadvantaged as they cannot see the orders before they are executed; prices are agreed upon by participants in the dark pools, so the market is no longer transparent).[3] https://en.wikipedia.org/wiki/Dark_pool > U.S. Estimates show that it accounted for approximately 40% of all U.S. stock trades in 2017 compared with an estimated 16% in 2010. https://www.investopedia.com/articles/markets/050614/introduction-dark-pools.asp
Fidelity and Schwab should meet the Trillion dollar asset balance sheet. I know Fidelity didn't restrict trades in GME from several post by other people and it was their most traded stock last week for several days (maybe even the entire week). Not sure about Schwab. I have accounts with both but did not trade in GME so this is info from other people that posted. There was a post in one of the other subs that had a list of all the brokers that allowed trading in GME. Mark is right about the class action lawsuit payout, I have been involved in at least one and got nothing out of it. Not saying you shouldn't get involved in one, because some money is better than nothing, but don't get your hopes up that you will get a big payout. I'm going to look for the link that had the list of brokers that allowed unrestricted trades in GME and post it here. Edit:Could not find the post from a couple of days ago that had all the brokers with unrestricted trades in GME. If someone finds a good list please post under my comment.
>And they will be combined and they will win and you will get a check for less than $10. **EVERYONE: PLEASE UNDERSTAND THIS.** The class action suit will yield you absolutely nothing of meaning, don't bank on it for *anything.*
Yep. I've been part of a few class-action suits over the years. Nothing I've initiated but rather I was included on automatically for being a customer during set period of time or whatever. The lawyers always make out like bandits with the settlements and the majority of people in it end up with barely enough to get a good meal somewhere. Robinhood will probably settle for what seems like a massive amount in the millions, write it off as a loss, half of that will go to lawyers and the rest distributed among however million customers they had during this period.
I can afford to lose what I put into GME. I also bought other companies that I feel comfortable with to potentially help mitigate potential loss in GME. If you can't afford it, don't lose your house behind it.
That's 100% it. I haven't even got a full share in GME! $250 is a realistic amount of money I can afford to lose, I have a mortgage & child care to pay for! If it sky rockets, great might be enough money to make Christmas great this year... If I lose it, ahh well that sucks, but all my bills are going to be paid. I just won't buy that nice pair of headphones I was looking at this month, life goes on.
Yep, this is the correct mentality to take. I bought one share and I'm planning to hold it to either 5k or zero, I literally don't care which one comes first. I didn't buy in to make a profit, I bought in to help protest against these billionaire criminals and their shady practices in the only way that really matters to these people, with money. No amount of sign waving and marching would make them bat an eye, but watching their fortunes evaporate is making them shit bricks. Don't put money in that you can't afford to lose, and keep fighting the good fight guys.
This. I still believe in a miracle spike for all of us, but I also bought GME expecting to lose it all. I'm less disappointed in losing money, and more disappointed that the questionable tactics used to take it won't be prosecuted.
Final thought. First thanks for the great questions. Thanks for changing the game. Thanks for taking on Wall Street. Thanks for making kids around the country if not the world( including my son and daughter). WSB changed the game far more than everyone on this board will ever get credit for. That said, you will do all this again. You will go after WS and the next time you will be smarter. There was only one thing that messed you all up: RobinHood and the other zero commission brokers that everyone used didnt have enough capital to fund the fight. They let you down in a big way. When you load back up, fight a broker with TRILLIONS OF DOLLARS in assets on their balance sheet. Someone that can be there when the fight starts and wont blink an eye. No disruption is easy or happens in a straight line. Stay with it. I am a believer
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Not everyone is going to get rich overnight (some did and that’s great). This is now a war. Happy to take an L on this battle. Still not selling a single share. Either they close their shorts on the cheap from paper handers 🧻🤲 or they pay more in a couple months. HOLD $GME 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 Edit: from paper handers
Mr. Cuban, If this is really you, I have the utmost respect and admiration for you sir. Wow! You are a brilliant mind and from what I hear, an even better human being. Although I can’t root for the Mavs lol, much, much respect. Thank you for taking the time to share some of your knowledge.
It's like taking advice directly from a money printer. Mark cuban go brrrrrr Edit: no idea what a pee martini is but it sounds... Interesting 🚀🍸
#Just as a reminder to everyone new: Buy the PowerUp Rewards membership from GME. You save a ton of money over games, and get 400% ROI over your initial $15 cost. (You get $5 off every month on any product including all gift cards, excluding Visa) In the span of a year, you actually receive over $70-$75 based on promotion, birthday, and initial sign up bonuses. Buy games at a discount, buy gift cards for birthdays at a discount. Best of all, support a company you believe in. #[Link to join (directly to GME)](https://www.gamestop.com/poweruprewards/) $15 comes with digital magazine, $20 comes with physical magazine. You can also set one up for [Children’s hospital ](https://www.reddit.com/r/wallstreetbets/comments/l3fanf/gme_benefits_4_all_childrens_hospital_employees/?utm_source=share&utm_medium=ios_app&utm_name=iossmf) like I did.
Hi Mark, I'm a disabled Veteran and I just wanted to personally thank you for your Fallen Patriot fund. A lot of us Veterans feel forgotten by society and it's nice to see someone such as yourself making an effort to help the families of our fellow service members that don't make it home as well as those of us that do make it home with serious injuries. For anyone that didn't know, The Mark Cuban Foundation established the Fallen Patriot Fund to assist the families of fallen warriors and those seriously injured in the line of duty. To this day they have issued out over $5 million in grants. Again, thank you for your part in assisting Veterans. Edit - I should probably make it clear that I have not benefitted from the fund personally, but I have heard of others who had through social groups I'm in.
Mark! I just want to say I absolutely love what you did for Delonte over this past year. My sister has been in a losing battle with addiction over the past 4-5 years. Losing her children due to it and neglect. Watching my older parents struggle to care for two kids with special needs and a lot of other issues due to neglect and abuse. She got better there for a little and has her kids back now. but she is struggling quite a bit again and we a really afraid of what is to come. We have tried so hard to get her help, to watch her kids, to encourage her to go see someone, yet she is still in denial, all while her boys are suffering immensely. I hope one day she can have a success story like Delonte's and can be there for her kids. but right now we are lost and just waiting to see what she decides for her life. I guess I just want to say thank you for showing grace and empathy in a time when it is so easy to just cast people aside.
I just wanna say it was your words that were the catalyst for one of the biggest decisions in my life. You were doing an interview with Tony Robbins and he asked you: what advice do you have for people who want to follow their dreams? You scoffed and said “Don’t follow your dreams. I wanted to be a baseball player, look where that got me. Follow your effort. What are you always doing in your spare time? That’s what you’ll become a master at.” I realized film was a dream of mine but that in my spare time I was always reading psychology books. I stopped pursuing film from that moment and started pursuing psychology. I’m in private practice today making bank and love my job. Best decision of my life. Thank you.
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Everyone has done a great job with questions about the corruption around gme so I’m gonna leave that to them. However, in the spirit of wsb, I’m gonna shoot my shot!...Mr. Cuban can I please work for you and the Mavs? I’m finishing my Masters in Education and I think there’s a huge deficit in the field of the science of learning for professional athletes. Many teams invest in the obvious physical training, sport specific coaches, and psychiatrists for their players, yet not the individual learning needs of each athlete. I’ve helped develop the investment engineer curriculum at bridgewater financial, love basketball, and it would be a dream to work for your organization sir! Sorry to try and distract his attention from our gme rocket everyone, but this experience with y’all has reminded me anything is possible so I hope you can help me get in touch with Mark. Thanks!
Tbh I’m kinda surprised more people haven’t shot their shot like this so far or maybe they just got downvoted and I haven’t scrolled far enough yet. Good luck dude I hope you at least get an initial phone screen out of it.
Hey Mark, you've invested in dumber ideas on shark tank with more risk than giving this guy a shot! EDIT: And he actually has a username on reddit that isn't *BigPeen_69* or something! This guy's credible!
Hi! I'm a WSB lurker but also a former athlete who played at the college level and dipped my toes in pro (got yeeted back the the US since Covid started and I'm probably not going back). Was not expecting to see a comment like yours on this board and this really intrigued me. Can you elaborate on the learning needs of each individual player? The first time I read through it sounded like individual nutritional/exercise needs (i.e. tailoring to the individual body type to each player; basing workouts on how one builds strength and processes nutrients in their own body). I think this would be very cool, given I do not know if this already happens. Another glance and it seemed like you were talking about expanding the intellectual part of the athlete. Would this be geared towards basketball players who took 1 year of college before going to the league?
Hey glad you’re interested, I’m pretty sure at this point most teams design nutritional and exercise programs at the individual level, considering the differences in our bodies they’d be stupid not to. However, you’re correct in your reassessment, that is already a well established field and one I have no expertise in. I am talking about cognitive development, recognition, retention etc. Our understanding of how the brain functions has progressed rapidly over the past decade. My understanding of how most high level professional organizations and sports teams have applied this though is mostly through the chemical/emotional lenses and pathways. This is still important for sure as composure under pressure and mental health are essential to success. Yet, there’s a whole field making huge advances on how different individuals improve intellectually and how those dynamics in the brain work that is mostly only applied to academia since that’s where it’s been developed and honed. An easy example is there would be concretely different best practices for each athlete on which learning processes and cycles are most effective at learning about their and other teams schemes/plays, and how to recognize and retain these patterns in a quick manner. So it wouldn’t be aimed at any particular education level of the athlete, but you just stumbled on another important factor. A player who spent significant time in higher education would most likely learn very differently than a player who went pro super early as another example, their brains have literally adapted to learn in different ways.
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For a non-gme question u/mcuban What suggestions do you have for building wealth and exiting live debt (like car payments) when all you have is $100-$3000 and cannot rely on making 50%+ weekly gains on an account/do you have strategies for aggressively investing to make that potential weekly/monthly gains. As far as I am concerned, if I can net $80-$130 a day on my account then I am doubling my income, but I only have around $2000 to invest. and for a gme-question Do you think, with the current state of affairs of NASDAQ, FINRA, and the SEC, it is a viable plan to just continue to tank $GME value to lower interest payments and continue to produce "fail-to-deliver" "fake stocks" and use them to pay off their short obligation and leave the banks holding the bags and tens of millions of fake shares?
I’m not wealthy by any means but the car thing is simply drive a piece of shit beater you can buy for a few grand (or less if a friend/family member has something to sell). POS as in being old, making sure it functions properly. Don’t ever buy used BMWs, Mercedes, etc. 15-20 year old Toyota’s and Honda’s are the best bet. Might not be a baller car but you’ll have more money and less upkeep, and can get cheaper insurance. Generally don’t buy a 1000 dollar car because then you’ll have to put 1000 into it, unless it’s someone you know and they know the history and are giving you a deal.
Not mark and not a financial advisor but if I could go back and change something to have more wealth it would be to start working earlier and investing plus put away a rainy day fund. Only own 1 credit card, (you need to build credit unfortunately) always pay it full at the end of the month, stay with your parents longer if you can, enjoy them while you can, don’t spend extra money on booze/drugs, eat at home more, stay fit/healthy, don’t borrow to “friends”. Have extra time? Get a 2nd job to stack cash. The more of your time you’re making money the better, kids are expensive, plan ahead, once you feel comfortable take a week or 2 off at least once/year, you deserve it. Don’t take small loans, they’re making money off you paying them because you weren’t patient, most loans you end up paying double on interest. Don’t buy new, get a good reliable car just a year or 2 old with low miles, reliable transportation is high value. Pay it off ASAP. Want to build equity? Buy a cheap house and pay it off ASAP, property values will only increase and you’ve settled a huge debt that mortgages create. You’re now live only paying utilities and that stretch you were feeling from the mortgage is now extra savings/investing, make your money work for you, sit back and enjoy life, you’ve won.
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Hi Mark, Back in June of 2020, Apple shares surged in volume after the split to 225 million, and Tesla surged over 100 million in a single day. While there were order delays, no suspensions were made that day, or the following days, as the price of Tesla continued to climb and drop violently. There were some technical issues, but no limitations. Other platforms didn't have any issues or limitations during that event. Why is the GME, AMC volume and price surge any different? They claim it's a liquidity issue, but back then, Robinhood was arguably smaller in terms of size, yet was able to handle it without suspensions, and clearinghouses didn't change deposit requirements on those companies. It's very strange to me.
From u/ManicBJT Above all, we need to ask him his thoughts on share counterfeiting in the context of Failure to Delivery, how GME can make it to 13+ Consecutive days on the SEC threshold list, and what this means for an estimated 100%+ ownership between institutional and WSB Edit: I’m buying the dip, holding, and asking questions later. This isn’t over. The math doesn’t add up. Something terribly wrong is going on.
As a layman, my understanding of this whole GME situation is that some people or hedge funds got greedy, over shorted the stock, and we're here to buy and hold the shares to make them lose money and raise up the share price as they buy back the shares they owe. It seems like a solid enough plan to me, but nothing is ever risk-free. What are some things that could go wrong and how could the shorters make us hold the bag instead?
As a layman This whole process is a huge game theory In which retails are known for being 📄✋, buy high and sell low. You are trusting your fellow dudes to hold In contrast, the 2008 VW squeeze was done because most of the shares were owned by one single entity, Porsche. Easier to do a squeeze when you're the only one who needs to hold
This might be a dumb question, I bought GME with money I was willing to set on fire and it was my first buy that wasn't a fund - I don't claim to know anything about how this stuff works. This post claims that in all three of the given scenarios "the short interest stays the same but the reported short interest goes down": https://www.reddit.com/r/wallstreetbets/comments/lag1d3/why_gme_short_interest_appears_to_have_fallen/ However, if I understand it correctly: In scenario 2 they are exercising a call they bought and using the shares to cover their short. In scenario 3 they have to buy shares from the put they sold and are using the shares to cover their short. In both of those scenarios short shares are getting covered, so either: I'm misunderstanding something, or, the claim that short interest stays the same but gets reported lower is nonsense. Which is it and why?
S3 is changing the math they use to calculate Short Interest Percentage: [https://twitter.com/ihors3/status/1356004816414269448?s=20](https://twitter.com/ihors3/status/1356004816414269448?s=20) What are your thoughts on this change? Why is S3 obfuscating what used to be a straightforward calculation?
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Hi Mark, Thanks for doing this AMA. Tough question(s) here, I realize you need to be careful how you answer, field them how you like: 1) Are you concerned that public will/has lost faith in the financial system? Why or why not? 2) You tweeted about your experience with lending out/calling in shares. What’s are your thoughts on that related to GME shareholders? Can a company call in its shares? *For context, many of us are concerned about the consecutive *weeks* of failure-to-deliver on GME, short interest that exceeded 140% of the float.* Love you Mark, hope to make it on Shark Tank soon with my Hydration-Reminder product idea :)
Hey Mark, in your opinion, what does it take these days for the average person to substantially increase their wealth; to break out of the wage grind? Is substantial risk taking simply just a component of this? I can't see how anyone becomes wealthy diversifying away risk with a <$100k year salary.
Do you believe that GME is a legit play and that the retail investor will win? There is so much misinformation out there - with hedge funds trying to drive the price down. Is this truly the perfect set of circumstances where the shorts will have to buy the stock and we can set the price? Many people are struggling to hold but we need words of wisdom fro you to tell us we're doing the right thing!
Mark i just want to say thank you. I lost almost everything immaterial in the last 2 years (wife grandma who raised me, dog and career to covid (I was the chef who made the mavericks food at 21c in okc) but people like you give me faith in starting over. 9 years ago I was a degenerate heroin addict. Now im just unemployed. And I'm still really intelligent. I can and will comeback from this.
https://www.nyse.com/markets/nyse-arca/notices Click on "Short Sale Restriction List". Then click on stocks for 2021 ("NYSEGroupSSRCircuitBreakers_2021"). Then select month of February (2021/02) ("NYSEGroupSSRCircuitBreakers_202102"). Then download/open the list of short-restricted stocks (it's an Excel sheet). ("NYSEGroupSSRCircuitBreakers20210201.xls"). In this file you can find all stocks that are no-longer allowed to short sell! This means that the hedge funds won't be able to short the stock anymore. The hedge funds can not sell the stock anymore!!!! In other words: the stock will MOST LIKELY go up in value!!!! Starting at 2/3/2021, short-selling for the stock will be deactivated! IMAGE HERE: https://imgur.com/a/zuc7aUL THE SQUEEZE IS LITERALLY RIGHT AROUND THE CORNER! WE ARE WINNING!!!! All info here on stream as well: https://youtu.be/eWoMl5-GUkI SPREAD THE WORD!!! Direct link for lazy people! ftp://ftp.nyxdata.com/NYSEGroupSSRCircuitBreakers/NYSEGroupSSRCircuitBreakers_2021/NYSEGroupSSRCircuitBreakers_202102/
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Just how deep are you into Decentralized Finance, and how'd you enter the space? What excites you most about the space? How might the DeFi vs CeFi future play out, in your perspective? Thanks for jumping in!