Game stop

[TAB]

I find it funny as hell that the small guy is screwing the wall street types. Yet apps like Robin hood are protecting them.

[tombogan03884]

I saw a headline blurb about what I think is a video game chain.

What's going on ?

We need a gopher emoji popping up.
Or BETTER, Bugs Bunny  .

[billt]

Can someone explain what the hell is going on with all of this, "Gamestop" stuff??? I'm clueless. Thanks in advance.

[tombogan03884]

READ an article this AM.
Gamestop, a computer game company was going down the crapper, but gamers got together and by buying stocks they drove the price artificially high.
Some of the Hedge funds that manage your 401's and other retirement plans got hosed as they were going by actual market conditions instead of gamer whims .

The host server company, Robinhood, pulled the plug on them because it is a possibly illegal, probably illegal, market manipulation.
It basically amounts to "The street has spoken, and  they are dumb asses pumping up a dying company" .

[Majer]

Listen to Rush Limbaughs Thursday show, He explains it in great detail in the first hour or so.
https://www.iheart.com/podcast/1119-the-rush-limbaugh-show-57927691/

[Sponsor]

[TAB]

READ an article this AM.
Gamestop, a computer game company was going down the crapper, but gamers got together and by buying stocks they drove the price artificially high.
Some of the Hedge funds that manage your 401's and other retirement plans got hosed as they were going by actual market conditions instead of gamer whims .

The host server company, Robinhood, pulled the plug on them because it is a possibly illegal, probably illegal, market manipulation.
It basically amounts to "The street has spoken, and  they are dumb asses pumping up a dying company" .

Nope.

Basicly what happened. Henge funds "shorted " 140% of available  stock. ( basically you barrow stock from me hoping it goes down, sell it off, then buy it back at a lower price when you return it)  a investment  group on reddit(wall street bets)  found about about it by searching public info.  So they bought to make $$$$( I got in at $6/ share its now worth 200)  others jumped in.  Then people  started to realize they could stick it too the hedge fund if they did not sell.   The hedge funds got bailed out by citadel  which is 40% of Robinhoods  market.  So a call was made( no proof, but we all know it happened) freezing the buying of gms, amc and a few other junk stocks.

Louis Rossman  is a Mac repair guy in NYC.  He runs a YouTube channel, he would fit in here perfectly, but he is not a gun guy.  He has done lots of videos on this.  He explains it in terms drtv will understand, including giving the middle finger to wallstreet

[PegLeg45]

Nope.

Basicly what happened. Henge funds "shorted " 140% of available  stock. ( basically you barrow stock from me hoping it goes down, sell it off, then buy it back at a lower price when you return it)  a investment  group on reddit(wall street bets)  found about about it by searching public info.  So they bought to make $$$$( I got in at $6/ share its now worth 200)  others jumped in.  Then people  started to realize they could stick it too the hedge fund if they did not sell.   The hedge funds got bailed out by citadel  which is 40% of Robinhoods  market.  So a call was made( no proof, but we all know it happened) freezing the buying of gms, amc and a few other junk stocks.

Louis Rossman  is a Mac repair guy in NYC.  He runs a YouTube channel, he would fit in here perfectly, but he is not a gun guy.  He has done lots of videos on this.  He explains it in terms drtv will understand, including giving the middle finger to wallstreet

Yep.

A bunch of regular folks turned the tables on the hedge fund guys, made a killing, and they hedgers got all butthurt over it and are crying foul. The short/long game in the market can burn you if you're not careful......which is why I straight trade. 
Nothing really illegal happened, they're just pissed that they got their own tactics used against them. The hedge fund guys are usually the ones who take other peoples money and get rich and if the little guy gets hosed in the deal so be it.

[TAB]

Yep.

A bunch of regular folks turned the tables on the hedge fund guys, made a killing, and they hedgers got all butthurt over it and are crying foul. The short/long game in the market can burn you if you're not careful......which is why I straight trade. 
Nothing really illegal happened, they're just pissed that they got their own tactics used against them. The hedge fund guys are usually the ones who take other peoples money and get rich and if the little guy gets hosed in the deal so be it.

there are reports of people having thier gms sold with out thier permission.  That is intact a felony.   Also shutting down the buying of stock is against sec rules if it is for personal gain.   When 40% of your money comes  from some one that can lose billions.  It would be a hard hillbto climb that you did not do it for the $.  Sadly its only fines and sanctions.   

Personally  I could lose everything I have in gms and not even blink.  I did it at 1st to make $$$, now I am happy that I am giving a big head ache to a wall street wolf.   I should have bought into AMC as well, but I am not really into playing the stock game.   I have a guy that does that for me.  He was the one that suggested  I buy the gms personally.  He would not risk any of his clients money on it.  He does not take crazy risks with portfolios. 

I gave him 10k many years ago, he has increased that amount 10x in 12 years.    He does not charge fees, just take a % of his take.  Which is very high by comparison to other services, but it also means if he loses money you owe him nothing.  The other services still get thier fee out of you.


You know its crazy times when aoc and Ted cruse agree on a subject

[alfsauve]

Eventually though the piper will have to be paid.

None of this stock manipulation does a thing for the actual business.  Game Stop is going out of business.  At some point all their stock will be worthless.  Somebody is going to have absorb that loss.     Good for those who bought low and sold high, but somebody's going to take the hit and get stuck.

[billt]

Eventually though the piper will have to be paid.

None of this stock manipulation does a thing for the actual business.  Game Stop is going out of business.  At some point all their stock will be worthless.  Somebody is going to have absorb that loss.     Good for those who bought low and sold high, but somebody's going to take the hit and get stuck.

This ^^^^^^^^^^^^^^

All of this same bull$h!t happened with the whole ".com" fiasco. It kept inflating until the entire bottom dropped out. None of it was driven by actual earnings or value. It was all speculation, with everyone trying to jump on the train before it left the station. Pretty soon it was too far from the platform, and people started falling on the tracks.

The guys who were lucky enough to time it right, and get out at the top, (like Mark Cuban) made a ton of money. But most of the rest of these so called, "Day Traders", ended up becoming the next night crew at Home Depot and Costco. The same deal will happen here. It's like a giant game of musical chairs. When the music stops, you better have a place to sit down.