stock market was up today...

[SpaceCoastVol]

A fair number of the redditors is in it just to burn the billionaires. They got in for hundreds, that's all they will lose in the end. They dont care about stock value, their skin in the game is only a couple hundred deep.

Oh yeah I know. And (un)fortunately (depending on your POV) they are gonna probably burn some other little people in the process. It will be interesting to see what pension funds are caught up in this as well. Regardless, like my man Thunder says, somebody will probably be looking at jail time. Well not probably, but hopefully.

 

[SpaceCoastVol]

If nothing else it will delay their bankruptcy filing. And no. Walmart’s market cap is $400B. GME’s is $22B and only a fraction of the shares are held as treasury stock. They’ll be able to raise a billion +/- cash.

Geeee and I wonder how many of those 'best and brightest' in the C suites at GME are going to see a big payday.... They must be working like crazy to restructure pay contracts

 

[SpaceCoastVol]

Short answer, idk. I guess they could if that capital had been made available to them. If I’m CEO of a rapidly dying business under this scenario and that much capital rolls in, I’m cashing that check and closing the doors. Fiji baby!

Sounds like the airline business, no?

 

[VolnJC]

Short answer, idk. I guess they could if that capital had been made available to them. If I’m CEO of a rapidly dying business under this scenario and that much capital rolls in, I’m cashing that check and closing the doors. Fiji baby!

I'm not a gamer are most console games now online? I don't see how there isn't a market for a company that specializes in games and can also sell used ones

 

[NorthDallas40]

Short answer, idk. I guess they could if that capital had been made available to them. If I’m CEO of a rapidly dying business under this scenario and that much capital rolls in, I’m cashing that check and closing the doors. Fiji baby!

Yep GME goes back to or below $15 when 1qtr results are posted and company officers can dump their stock. The liquidity option will be solved on that day.

 

[NorthDallas40]

I'm not a gamer are most console games now online? I don't see how there isn't a market for a company that specializes in games and can also sell used ones

GME made money by selling the game install media. The physical disks. I buy about half of my games now direct from Microsoft and do digital download. You just don’t own a disk. I’ll still buy certain physical games like collectors edition versions of a popular title.

 

[LouderVol]

Oh yeah I know. And (un)fortunately (depending on your POV) they are gonna probably burn some other little people in the process. It will be interesting to see what pension funds are caught up in this as well. Regardless, like my man Thunder says, somebody will probably be looking at jail time. Well not probably, but hopefully.

Agreed. My opinion is by the time you hear about it and see the market response it's too late.

But the little people are playing the same game as the rich so imo they are making themselves fair game.

Only people I would feel sorry for is anyone who held GME stock before this as a little player and didnt capitalize and loses it all.

 

[LouderVol]

I'm not a gamer are most console games now online? I don't see how there isn't a market for a company that specializes in games and can also sell used ones

There is a reason they are dying off.

What's ironic here is most of these redditor types probably had a negative opinion of Gamestop before this episode.

It's a curious hill to die on.

 

[Thunder Good-Oil]

Unless the GME management is asleep at the wheel, they’re selling every share that they are physically and legally able to. It will be heading back to zero eventually. Unless they close every brick and mortar store to pull a Netflix and go completely internet based like the new investor and board members are pushing.

 

[NorthDallas40]

Unless the GME management is asleep at the wheel, they’re selling every share that they are physically and legally able to. It will be heading back to zero eventually. Unless they close every brick and mortar store to pull a Netflix and go completely internet based like the new investor and board members are pushing.

Live look at every GME corporate officer eying the current trading price and their shares locked until March earnings report

 

[DancingOutlaw]

Unless the GME management is asleep at the wheel, they’re selling every share that they are physically and legally able to. It will be heading back to zero eventually. Unless they close every brick and mortar store to pull a Netflix and go completely internet based like the new investor and board members are pushing.

I think a lot of them can't exercise options or make trades right now. Plus given their holdings sales of that size would collapse the stock. It has to be maddening to see on paper you're a multimillionaire but can't do anything to realize it.

 

[Thunder Good-Oil]

Oh yeah I know. And (un)fortunately (depending on your POV) they are gonna probably burn some other little people in the process. It will be interesting to see what pension funds are caught up in this as well. Regardless, like my man Thunder says, somebody will probably be looking at jail time. Well not probably, but hopefully.

I don’t want to see the Reddit ring leader get in trouble. But he will be. I do want to see the hedge fund fellers that have routinely been manipulating securities do hard time. On the other hand... if there’s been no enforcement or previous warnings then it would be ****ty of the government to take away their freedom.

The real problem lies with the government allowing it and doing nothing about it (other than those elected cashing their checks from Wall Street lobbyists). It’s really disgusting. It’s not government for the (little) people. It government for the Elites.

 

[Rasputin_Vol]

Maybe they should help Sears out?

Hmmm... you know what, you are the second person in the last 12 hours to mention a Sears play. I'm thinking you are being facetious, but this guy was serious and said he is considering making a move into it.

 

[Vol737]

I'm not a gamer are most console games now online? I don't see how there isn't a market for a company that specializes in games and can also sell used ones

I’m not a gamer at all. My son was for a bit, but outside of knowing we had an Xbox 360 I really don’t pay attention. I did take him to GameStop several years ago, had always heard about the stock, but I’ve really stayed away from brick n mortar retail with the exception of Costco. I remember walking in and thinking, “what’s the big deal?” Never would put any $$ in GME. I just didn’t get it.

 

[Thunder Good-Oil]

I think a lot of them can't exercise options or make trades right now. Plus given their holdings sales of that size would collapse the stock. It has to be maddening to see on paper you're a multimillionaire but can't do anything to realize it.

I’m speaking of their fiduciary duties as management rather than trading their own holdings. I did see that they have sold a lot of company held shares... I forget the number. Maybe $30 million about 2 days ago.

 

[Vol737]

Sounds like the airline business, no?

Ha! Man, no doubt about it. If I ever see that sob LM....

 

[W.TN.Orange Blood]

Good Lord God Almighty ......... Today's stock market is racing like a damn mudslide full force going down hill....
Biden's economy plan is worse than that of the Great Depression. Get this moron out of the WH w/his Ho too.

 

[VolnJC]

Watch out meme traders on Reddit Elizabeth Warren coming after you

 

[Vol737]

Good Lord God Almighty ......... Today's stock market is racing like a damn mudslide full force going down hill....
Biden's economy plan is worse than that of the Great Depression. Get this moron out of the WH w/his Ho too.

Down 1000 pts + in the last five trading sessions.

 

[W.TN.Orange Blood]

Watch out meme traders on Reddit Elizabeth Warren coming after you View attachment 346728

F that idiot too.

 

[Rasputin_Vol]

I posted this in another thread as a crude example of how a ticker could see a short position over 100%.

This can be accomplished with a relatively small amount of shares in theory. If hedge fund A takes a 5% short position in a company, they sell those shares on the open market. Hedge fund B could then take an identical 5% short position with, in theory, the same shares that were shorted and sold by A. B then sells the same shares at market price. If this is done 25 times, you end up with a company having 125% of their shares being shorted when only 5% of their shares changed hands. This is an exaggerated example, but it shows how GME could see a short position of 138%.

I see what you are saying here and it makes sense. Looks like you have explained how it is possible. But now hypothetically, if it is found that they were naked shorting, that is illegal, right?

Is it true that more shares were shorted than existed?

Shouldn’t that be impossible if not illegal?

 

[Thunder Good-Oil]

Good Lord God Almighty ......... Today's stock market is racing like a damn mudslide full force going down hill....
Biden's economy plan is worse than that of the Great Depression. Get this moron out of the WH w/his Ho too.

I’m no fan of Joe, but I really hope that he hangs on as long as she is #2 and Nancy is #3.

 

[W.TN.Orange Blood]

I’m no fan of Joe, but I really hope that he hangs on as long as she is #2 and Nancy is #3.

Yeah, a lot of good times headed our way with those two bimbos.....

 

[Rasputin_Vol]

One could hope, but I'm skeptical. If these autists crash the market there's going to be a massive media campaign against them about how grandma won't be able to retire because these degenerates used dirty tricks to manipulate the market. The headline will be something like Gaming Losers Exploit Stock Market Loopholes to Rob Boomers of Their Well Earned Retirement.

Hmmmm... I'm could see that being played out in the mainstream media, but I could also see the alt-media on both sides telling it just how it is. Boomers will obviously listen to whatever Huntley/Brinkley and Kronkite tell them at 6:00... meanwhile the rest of us will be online getting the truth.

 

[Velo Vol]