[GameStop GME trading mega-thread]

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VtsaxParade
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Re: [GameStop GME trading mega-thread]

Post by VtsaxParade »

Even a casual glance into matters would indicate those claims to be false.

1. Short lend fee is climbing again across platforms and margin requirements are over 500%.
2. Utilization is once again capped at 100% for multiple weeks.
3. There are far fewer shares available to short relative to last year on multiple platforms including IBKR and Fidelity (very often 0 shares available which is unusual).

As far as shorts having covered/closed - I strongly believe this to not be the case. The quarterly runs up and down on GME over the last 15 months are not retail. The runs up to 350 in Mar/Jun and 225/250+ in Sept/Nov and 200 this morning are likely some kind of emergent phenomena due to the nature of the instruments being used to mask a large short position. A simple look at AMC should tell you something very unusual is going on here as it is experiencing similar emergent highs and lows.

Retail seems to have about $80m a day in collective fire power. Retail certainly doesn't have a fresh $2b to unload on GME at a relative high and simultaeously hit AMC up in the exact say way on the same day. The charts today have 99% correspondance - the halts were 10 seconds apart! Something super odd is going on and it involves a variety of stocks - all of which "squeezed" Jan. 27, 2021.
Last edited by VtsaxParade on Tue Mar 29, 2022 8:34 pm, edited 1 time in total.
000
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Re: [GameStop GME trading mega-thread]

Post by 000 »

A fascinating journey so far.
Darkpools
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Re: [GameStop GME trading mega-thread]

Post by Darkpools »

DarkMatter731 wrote: Tue Mar 29, 2022 7:36 pm
LoveTheBogle wrote: Tue Mar 22, 2022 9:11 pm
xraygoggles wrote: Tue Mar 22, 2022 3:09 pm
case_of_ennui wrote: Tue Mar 22, 2022 1:11 pm Pretty good day for GME. Up ~30%. Is this on any news?
Nope - just gets the apes riled up, before the eventual fall to 25$.
Short it then. :twisted:

There is a lot of hate for GME which always comes from people who don’t have any shares or calls. Lots of FOMO with it.

It can go up. It can go down. No one knows where this will end. But if you have an opinion that it is going to $25 then right now seems like an excellent opportunity to short it like crazy. :dollar
'muh so short it argument'.

One can hate GME and the fact that you guys are clogging up every financial community that I love without needing to partake.

On bogleheads, it's pretty tame but elsewhere, you guys are spreading conspiracy theories about the financial market. There's nothing nefarious going on and short-sellers covered.

This is just short-term momentum, nothing else.
Nothing "nefarious going on in markets" ??? Seriously ??? LME anyone???
A host of links could be inserted here blowing that comment to hell...
I'll leave a recent high visibility one...
https://tv.apple.com/us/episode/stock-m ... weks6sxpob
Tanelorn
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Re: [GameStop GME trading mega-thread]

Post by Tanelorn »

Who said stock splits don’t create value? Up almost 20% for just suggesting it.

Give the people what they want - “free” shares!
Last edited by Tanelorn on Fri Apr 01, 2022 12:22 pm, edited 1 time in total.
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xraygoggles
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Re: [GameStop GME trading mega-thread]

Post by xraygoggles »

GME pulling a Tesla - stock split.

Next up: S&P inclusion.
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VtsaxParade
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Re: [GameStop GME trading mega-thread]

Post by VtsaxParade »

Like TSLA, assuming it passes a shareholder vote, it will be a stock split handled as a dividend - a very bad position for shorts as they would have to pay out the dividend in shares. Quite an interesting situation indeed.
Finridge
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Re: [GameStop GME trading mega-thread]

Post by Finridge »

Tanelorn wrote: Thu Mar 31, 2022 3:53 pm Who said reverse splits don’t create value? Up almost 20% for just suggesting it.

Give the people what they want - “free” shares!
What they announced is a forward split, not a reverse split. If they had announced a reverse split, you would have seen a different reaction.
Tanelorn
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Re: [GameStop GME trading mega-thread]

Post by Tanelorn »

Finridge wrote: Fri Apr 01, 2022 11:57 am What they announced is a forward split, not a reverse split. If they had announced a reverse split, you would have seen a different reaction.
Yes, you’re right. I fixed my typo, forward split as you say.
VtsaxParade
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Re: [GameStop GME trading mega-thread]

Post by VtsaxParade »

6/2 should be the shareholder meeting date, so it will be interesting to see how the next 3 months play out.
johnkidding
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Re: [GameStop GME trading mega-thread]

Post by johnkidding »

What happens when the lowest ask is in the thousands? It seems like they aren't allowing market orders on GME and limit orders outside of a narrow band (+200%) get rejected. If I want to buy a share in the thousands on the open market at these times -- why is it OK for other parties to stop me? I personally really want to buy one for $5k.
lazynovice
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Re: [GameStop GME trading mega-thread]

Post by lazynovice »

johnkidding wrote: Sat Apr 02, 2022 7:32 am What happens when the lowest ask is in the thousands? It seems like they aren't allowing market orders on GME and limit orders outside of a narrow band (+200%) get rejected. If I want to buy a share in the thousands on the open market at these times -- why is it OK for other parties to stop me? I personally really want to buy one for $5k.
Ahhh now I know you are joking. It has been unclear until now.
johnkidding
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Re: [GameStop GME trading mega-thread]

Post by johnkidding »

lazynovice wrote: Sat Apr 02, 2022 12:15 pm
johnkidding wrote: Sat Apr 02, 2022 7:32 am What happens when the lowest ask is in the thousands? It seems like they aren't allowing market orders on GME and limit orders outside of a narrow band (+200%) get rejected. If I want to buy a share in the thousands on the open market at these times -- why is it OK for other parties to stop me? I personally really want to buy one for $5k.
Ahhh now I know you are joking. It has been unclear until now.
Not joking. Would love to buy one at 5k but market structure makes it impossible even when bid/ask spread is 0/7000
johnkidding
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Re: [GameStop GME trading mega-thread]

Post by johnkidding »

lazynovice wrote: Sat Apr 02, 2022 12:15 pm
johnkidding wrote: Sat Apr 02, 2022 7:32 am What happens when the lowest ask is in the thousands? It seems like they aren't allowing market orders on GME and limit orders outside of a narrow band (+200%) get rejected. If I want to buy a share in the thousands on the open market at these times -- why is it OK for other parties to stop me? I personally really want to buy one for $5k.
Ahhh now I know you are joking. It has been unclear until now.
Not joking. Would love to buy one at 5k but market structure makes it impossible even when bid/ask spread is 0/7000
clemrick
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Re: [GameStop GME trading mega-thread]

Post by clemrick »

On the Fidelity Investments subreddit, a poster asked about how Fidelity was going to handle the stock dividend. In the thread someone else asked why he didn't DRS to Computershare. His answer was that he had wrote "a document" last spring before the idea of DRS came up and if he moved his shares, they and future dividends would "not be protected."

Can anyone, maybe johnkidding, explain what he is referring to?
lazynovice
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Re: [GameStop GME trading mega-thread]

Post by lazynovice »

clemrick wrote: Sun Apr 03, 2022 8:40 am On the Fidelity Investments subreddit, a poster asked about how Fidelity was going to handle the stock dividend. In the thread someone else asked why he didn't DRS to Computershare. His answer was that he had wrote "a document" last spring before the idea of DRS came up and if he moved his shares, they and future dividends would "not be protected."

Can anyone, maybe johnkidding, explain what he is referring to?
Sounds like he has his shares in a trust.
pension4ever
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Re: [GameStop GME trading mega-thread]

Post by pension4ever »

Are we prepping for MOASS. :?:
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Re: [GameStop GME trading mega-thread]

Post by nisiprius »

The Revolution That Wasn't: GameStop, Reddit, and the Fleecing of Small Investors, by Spencer Jakab, is a terrific book.
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000
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Re: [GameStop GME trading mega-thread]

Post by 000 »

I've never seen so much and so persistent negative media coverage of an individual stock.
SlowMovingInvestor
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Re: [GameStop GME trading mega-thread]

Post by SlowMovingInvestor »

000 wrote: Thu Apr 14, 2022 3:37 pm I've never seen so much and so persistent negative media coverage of an individual stock.
Several individual stocks got a LOT of negative coverage during the dotcom era.

Even Amazon -- there was a (in)famous Barrons cover labelled Dot.bomb with Bezos's head attached to a fuse.

Oh, and Enron got a lot of negative coverage (but a little late).
000
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Re: [GameStop GME trading mega-thread]

Post by 000 »

Did anyone write and publish a 320 page about Amazon within ~13 months of the stock gaining public interest?
SlowMovingInvestor
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Re: [GameStop GME trading mega-thread]

Post by SlowMovingInvestor »

000 wrote: Thu Apr 14, 2022 5:23 pm Did anyone write and publish a 320 page about Amazon within ~13 months of the stock gaining public interest?
Not about Amazon at that time (although the book 'The Everything Store' came out later), but there were several about other dotcom era companies. There wasn't a specific major event at AMZN (bankruptcy, management change etc.) that would likely justify a book then.

At least 2 major books published about AOL (one was a national bestseller).

There was a book called dot.bomb: My Days and Nights at an Internet Goliath published about Value America (where the author worked), and the (flaky) CEO of that company published a book in rejoinder.

Michael Lewis (very high profile biz author) published a (mostly skeptical) book about Netscape (the company that started the dotcom craze) and it's founder in the late 90s.

And there were several about Enron once it got a lot of public interest.

Dramatic events generally do lead to books. There is Bryan Burrough's book 'Barbarians at the Gate', about the RJR/Nabisco takeover, which was made into an HBO movie. Plenty of books about the 2008 crash (dealing with Bear, Lehmann, Fannie/Freddie, AIG etc.). About Chainsaw Al Dunlap at Sunbeam. And many books about Sears when there were major events at the company.

I also remember negative books about Palm, about Oracle (during its down years), about Lucent, about NeXT, about GM during the 80s (when Perot was on the board).
000
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Re: [GameStop GME trading mega-thread]

Post by 000 »

How are the hodlers? Anyone buying more?
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HomerJ
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Re: [GameStop GME trading mega-thread]

Post by HomerJ »

SlowMovingInvestor wrote: Thu Apr 14, 2022 5:53 pm I also remember negative books about Palm, about Oracle (during its down years),
I hate Oracle licensing. I so wish they had gone bankrupt. The world would be a better place.
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xraygoggles
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Re: [GameStop GME trading mega-thread]

Post by xraygoggles »

pension4ever wrote: Thu Apr 14, 2022 2:10 pm Are we prepping for MOASS. :?:
Reverse-MOASS
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health teacher
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Re: [GameStop GME trading mega-thread]

Post by health teacher »

000 wrote: Tue May 10, 2022 3:33 pm How are the hodlers? Anyone buying more?
Buying another $1k today. Staying the course.

Editing this post so I don't bump this thread, but the GameStop NFT marketplace is launching soon. I can't wait for all the articles, commentary, posts spreading negative sentiment about "the NFT launch is a failure, blah, blah, GME stock is sinking, sell now, blah, blah"
Doc7
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Re: [GameStop GME trading mega-thread]

Post by Doc7 »

+29.19% today…

(Profit taker in Jan 2021, zero shares here)
health teacher
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Re: [GameStop GME trading mega-thread]

Post by health teacher »

But, but "they" said it was over.

No way I'll even think about selling until I see details on the share dividend, GameStop wallet, and NFT marketplace. Not to mention there is clearly an institutional cycle of sorts impacting the price.

Staying the course.
Californiastate
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Re: [GameStop GME trading mega-thread]

Post by Californiastate »

School is out. The dumb money is available to exploit and harvest. First there is a setup which we are currently witnessing. The rapid ascent gets broadcast to the lambs as they pile towards the gate. Many who missed the glory days will chase it. Money will be made before it jumps the shark but there's the rub. When is Fonzi putting on his skis?
hoofaman
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Re: [GameStop GME trading mega-thread]

Post by hoofaman »

Amazing the staying power with these meme stocks. I mean, it's worked this long for Tesla, why can't it work for other meme stocks like GME?
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Re: [GameStop GME trading mega-thread]

Post by firebirdparts »

Based on what we’ve seen, it clearly can go on. The problem is there’s just no point in it. Without an exit strategy, it’s just a hobby. Hobbies can go on, but disinterest is always a threat, and here you have the added problem that the early guy to get out is going to have a big wheelbarrow full of money to spend on something else. Bag holders won’t.
This time is the same
Samosa22
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Re: [GameStop GME trading mega-thread]

Post by Samosa22 »

I guess BBBY is the new GME now. WSB is all hyped up on BBBY.
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HomerJ
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Re: [GameStop GME trading mega-thread]

Post by HomerJ »

Bed Bath and Beyond?

LOL LOL LOL LOL.

Gen Z thinks Bed Bath and Beyond is going to the moon?

I mean, even GME you could pretend "crypto, gamers, blockchain, blah, blah, blah"

What's the big story behind Bed Bath and Beyond?

Are they counting on the Beyond? :)
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Beensabu
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Re: [GameStop GME trading mega-thread]

Post by Beensabu »

HomerJ wrote: Tue Aug 16, 2022 9:16 pm Gen Z thinks Bed Bath and Beyond is going to the moon?
It is if they collectively decide to make it do that. That's their game, and they're pretty good at it, actually.
"The only thing that makes life possible is permanent, intolerable uncertainty; not knowing what comes next." ~Ursula LeGuin
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HomerJ
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Re: [GameStop GME trading mega-thread]

Post by HomerJ »

Beensabu wrote: Tue Aug 16, 2022 9:46 pm
HomerJ wrote: Tue Aug 16, 2022 9:16 pm Gen Z thinks Bed Bath and Beyond is going to the moon?
It is if they collectively decide to make it do that. That's their game, and they're pretty good at it, actually.
It's the same game as always.

A few get a bunch to run up the price. The few get rich, the bunch get poor.

It's the EXACT SAME GAME from 30 years ago, 60 years ago, 100 years ago.
"The best tools available to us are shovels, not scalpels. Don't get carried away." - vanBogle59
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Beensabu
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Re: [GameStop GME trading mega-thread]

Post by Beensabu »

HomerJ wrote: Tue Aug 16, 2022 10:49 pm
Beensabu wrote: Tue Aug 16, 2022 9:46 pm
HomerJ wrote: Tue Aug 16, 2022 9:16 pm Gen Z thinks Bed Bath and Beyond is going to the moon?
It is if they collectively decide to make it do that. That's their game, and they're pretty good at it, actually.
It's the same game as always.

A few get a bunch to run up the price. The few get rich, the bunch get poor.

It's the EXACT SAME GAME from 30 years ago, 60 years ago, 100 years ago.
But is it still working, though? Why?

Edit: It's like what Morgan Housel essentially said in that article that got linked here awhile ago. Know what game you're playing and what game other people are playing. Don't play someone else's game if it's not yours.
"The only thing that makes life possible is permanent, intolerable uncertainty; not knowing what comes next." ~Ursula LeGuin
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HomerJ
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Re: [GameStop GME trading mega-thread]

Post by HomerJ »

Beensabu wrote: Tue Aug 16, 2022 11:28 pm
HomerJ wrote: Tue Aug 16, 2022 10:49 pm
Beensabu wrote: Tue Aug 16, 2022 9:46 pm
HomerJ wrote: Tue Aug 16, 2022 9:16 pm Gen Z thinks Bed Bath and Beyond is going to the moon?
It is if they collectively decide to make it do that. That's their game, and they're pretty good at it, actually.
It's the same game as always.

A few get a bunch to run up the price. The few get rich, the bunch get poor.

It's the EXACT SAME GAME from 30 years ago, 60 years ago, 100 years ago.
But is it still working, though? Why?

Edit: It's like what Morgan Housel essentially said in that article that got linked here awhile ago. Know what game you're playing and what game other people are playing. Don't play someone else's game if it's not yours.
Because every generation is new and falls for it all over again.
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Re: [GameStop GME trading mega-thread]

Post by LadyGeek »

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