deane koontz Posted January 28, 2021 Share Posted January 28, 2021 Seems to have been a bit of a to-do with AMC and GME I understand none of this. Quote Link to comment Share on other sites More sharing options...
stevieb Posted January 28, 2021 Share Posted January 28, 2021 Bankrupt companies are being bid up by some crack pots on reddit with no one selling in a bid to 'bankrupt' a hedge fund that is trying to short it. Or summat. Quote Link to comment Share on other sites More sharing options...
crawshawbooth Posted January 28, 2021 Share Posted January 28, 2021 silly prices being driven up ,with a certain crash at the end Russian Roulette if you need the money Quote Link to comment Share on other sites More sharing options...
Site Supporter Spider Posted January 28, 2021 Site Supporter Share Posted January 28, 2021 Elon Musk has promoted a company and their share price has rocketed. Seems rather a lot of fuss Quote Link to comment Share on other sites More sharing options...
Members Rudy Posted January 28, 2021 Members Share Posted January 28, 2021 29 minutes ago, stevieb said: Bankrupt companies are being bid up by some crack pots on reddit with no one selling in a bid to 'bankrupt' a hedge fund that is trying to short it. Or summat. Pesky nerds. But why? Quote Link to comment Share on other sites More sharing options...
stevieb Posted January 28, 2021 Share Posted January 28, 2021 7 minutes ago, Rudy said: Pesky nerds. But why? Why not. Getting the popcorn ready for the inevitable rug pull... Pissed off I'm not in because its been shilled from under a dollar on one of the stock sites I read comments on and I thought better of it. 😭 Quote Link to comment Share on other sites More sharing options...
Youri McAnespie Posted January 28, 2021 Share Posted January 28, 2021 Why not? Hedge Fund cunts beat at their own game... Shorting a company is like chucking chum into the sea around someone floating in a lifesaving ring. Quote Link to comment Share on other sites More sharing options...
Youri McAnespie Posted January 28, 2021 Share Posted January 28, 2021 Great minds... Quote Link to comment Share on other sites More sharing options...
royal white Posted January 28, 2021 Share Posted January 28, 2021 Price dropped by over 90% a couple of hours ago. It’s started to pick up again now Quote Link to comment Share on other sites More sharing options...
Members Rudy Posted January 28, 2021 Members Share Posted January 28, 2021 I have no idea about accounts or hedge funds or stocks Quote Link to comment Share on other sites More sharing options...
Lt. Aldo Raine Posted January 28, 2021 Share Posted January 28, 2021 This is a good explainer: Quote Link to comment Share on other sites More sharing options...
deane koontz Posted January 28, 2021 Author Share Posted January 28, 2021 Must be a bit mad if these two are agreeing about something Quote Link to comment Share on other sites More sharing options...
Members Rudy Posted January 28, 2021 Members Share Posted January 28, 2021 Just read a quick explanation Holy moly Quote Link to comment Share on other sites More sharing options...
Members Rudy Posted January 28, 2021 Members Share Posted January 28, 2021 Quote Link to comment Share on other sites More sharing options...
boogs Posted January 28, 2021 Share Posted January 28, 2021 9 minutes ago, Rudy said: Was hoping someone would put that scene up for explanation. Can always count on you pal. Bravo 👍 Quote Link to comment Share on other sites More sharing options...
Members Rudy Posted January 28, 2021 Members Share Posted January 28, 2021 15 minutes ago, boogs said: Was hoping someone would put that scene up for explanation. Can always count on you pal. Bravo 👍 Id sell my mam to the Albania mafia for a whiff of Margot Robbie’s sanitary bin Quote Link to comment Share on other sites More sharing options...
TroySwoosh Posted January 28, 2021 Share Posted January 28, 2021 if you haven't been following the GameStop Stock Shit-Show, you really need to look into it. This is fucking hilarious. Allow me to catch you up. So this hedge fund called Melvin Capital wrote out some douchey article about how the smart investment move would be to short-sell GameStop stock. To put it simply, short-selling is essentially gambling that a stock's price will drop. If it does, you make money. If it doesn't, you end up paying out money for however much it goes up. Well, this little article that Melvin wrote pissed off a dark, dank corner of the internet called Wall Street Bets. WSB is a hive of Ritalin-addled lunatics who treat the stock market like a fucking casino. These dudes will regularly gamble their life-savings on a single trade. It's a glorious thing to watch. The WSB crew has a weird fascination with certain stocks. They call them "meme stocks." Tesla is one, AMD is another, and GameStop, arguably, is the most weirdly beloved meme stock. So for reasons that make sense only to the degenerates on WSB, Melvin trying to short-sell their meme was a declaration of war. Yes, this is dumb. But it gets so fucking hilarious. WSB decided to do a "short squeeze." This is when you see people trying to short a stock, so you buy up that stock, and you get a bunch of other people to buy up that stock. With each purchase the price actually goes up. Since Melvin was trying to short the stock at a price of $20 per share, WSB wanted to get it as high above that price as humanly possible. They got it up to $200 per share. This means Melvin has to cover over $180 per share they bought. This came out to billions. Fucking. Billions. Melvin Capital, over night, was suddenly facing bankruptcy. Think about that. A bunch of self-identified degenerates on a fucking website were able to tank a fucking hedge fund. That's hilarious. Well, the rich and powerful don't like seeing us plebeians fucking with one of their own. So Point72, another hedge fund, teamed up with a few other little funds, and they injected around THREE BILLION into Melvin Capital to keep them from spiraling. Essentially this meant the billionaire hedge fund crew were banding together to fight back against Wall Street Bets. And WSB just said "okay, no problem." Today the stock for GameStop is at $320 per share. Melvin Capital lost all of that three billion they were given. It's gone. They're still fucked. Point72 gave a little over a billion of that injection, and that means that fund dropped from 17 billion to 16 billion. That means in less than 24 hours WSB managed to all but ensure one hedge fund will die and drop the value of another by 6% so far. And remember, WSB are just a bunch of jackasses on the internet. They aren't hedge fund guys, they aren't millionaires or billionaires. This is literally being done by morons with a phone app coordinating to ruin billionaires' lives because they can. What we're watching here with GameStop stocks is a bunch of rich people who are getting fucking wrecked, purely for entertainment, by the kind of middle- and poor people they regularly lobby against and treat like this. This "eat the rich" via phone app. It's "damn the man" with a meme-stock. It's fucking beautiful. And because whoever is writing our reality lost all sense of subtlety after 2020, the icing on the cake is that the app the WSB crew are using to pull this off is a stock-trading app called Robin Hood. Yeah, as in steal from the rich and all that jazz. Goddammit, I truly love living in the future. Pass it on! Copied from a friend Quote Link to comment Share on other sites More sharing options...
boogs Posted January 28, 2021 Share Posted January 28, 2021 10 minutes ago, Rudy said: Id sell my mam to the Albania mafia for a whiff of Margot Robbie’s sanitary bin I hear that 😂 be a love and stick up the pic up of her stood at the bedroom door in WOWS. I ain't a clue how to post pics. Quote Link to comment Share on other sites More sharing options...
Members Rudy Posted January 28, 2021 Members Share Posted January 28, 2021 Quote Link to comment Share on other sites More sharing options...
boogs Posted January 28, 2021 Share Posted January 28, 2021 Fucking tremendous 😍 Quote Link to comment Share on other sites More sharing options...
Members bolton_blondie Posted January 28, 2021 Members Share Posted January 28, 2021 2 minutes ago, Rudy said: God really does have his favourites 😍 Quote Link to comment Share on other sites More sharing options...
Members Rudy Posted January 28, 2021 Members Share Posted January 28, 2021 Just now, bolton_blondie said: God really does have his favourites 😍 I’d sell you to the ghost of Josef Fritzel to eat her belly button cheese Quote Link to comment Share on other sites More sharing options...
Site Supporter FrancisFogarty Posted January 28, 2021 Site Supporter Share Posted January 28, 2021 Oh, them stocks. I opened this expecting to read something about a shite Walkden boozer. Quote Link to comment Share on other sites More sharing options...
stevieb Posted January 28, 2021 Share Posted January 28, 2021 12 minutes ago, Rudy said: No one's is allowed to post again in this thread without quoting this post. Quote Link to comment Share on other sites More sharing options...
Site Supporter Spider Posted January 28, 2021 Site Supporter Share Posted January 28, 2021 Shorting shouldn’t be allowed I profoundly hope some hedge fund managers end up living in a box like those 2 old cunts in Trading Places Quote Link to comment Share on other sites More sharing options...
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