Hedge fund tries to short Gamestop, now gets short squeezed by R/wallstreetbets

[Yoda]

What we may see is a few of the Redditors get punished, and while they may have broken the law, it's obscene that Wall Street faced no punishment for what happened in 2008, or their rampant criminality in general.

Thankfully we have Sherrod as Banking Chair now, who will actually try to hold them accountable for their culture of deception.

What I can't get over is that people are even talking about the SEC possibly going after some redditors while we had at least 3 senators who traded on insider knowledge a year ago from now and none of them are likely to be prosecuted.

[Anzeigenhauptmeister]

https://twitter.com/business/status/1355898921055215616

https://twitter.com/GoldTelegraph_/status/1355754635886292995

https://twitter.com/zerohedge/status/1355614415735939073

[True Federalist (진정한 연방 주의자)]

To be fair, the current gold:silver ratio indicates that likely either gold is overvalued or that silver is undervalued. However, given the run up in commodity prices in general, I'd think it's likelier the former than the latter.

[○∙◄☻¥tπ[╪AV┼cVê└]

Supposedly silver is being promoted by the hedge funds who are shorting Gamestop.

[The Houstonian]

Supposedly silver is being promoted by the hedge funds who are shorting Gamestop.

The WSB people are adamant that they have nothing to do with silver. I find their subreddit to be a more reliable source than what the news media attributes to their subreddit.

[DaleCooper]

I've not been following this too closely, but why are so many people pretending that this is some populist "sticking it to the man!" thing by buying worthless Gamestop stock for horribly expensive prices? Only a small percentage of people that got in early will have made any real money, and the people that have been buying during this week especially have gotten screwed over this. The reddit people that bought GME stocks over the last few days have more in common with Trump supporters buying inflated PredictIt shares after the election than they do with anyone else. Am I missing something?

[The Houstonian]

I've not been following this too closely, but why are so many people pretending that this is some populist "sticking it to the man!" thing by buying worthless Gamestop stock for horribly expensive prices?

I can't think of a better way to stick it to Wall Street considering that Wall Street controls the gov't.

[Cassius]

I've not been following this too closely, but why are so many people pretending that this is some populist "sticking it to the man!" thing by buying worthless Gamestop stock for horribly expensive prices? Only a small percentage of people that got in early will have made any real money, and the people that have been buying during this week especially have gotten screwed over this. The reddit people that bought GME stocks over the last few days have more in common with Trump supporters buying inflated PredictIt shares after the election than they do with anyone else. Am I missing something?

No, you’re absolutely right. People like me who got in on January 25th and got out a couple of days later have made money. Those (the majority) who got in later and stayed in longer will lose money having bought the grotesquely inflated shares of a bad company. It’s amusing how Alexandria Ocasio-Cortez and others cheered on the creation of a bubble to stick it to the ‘hedge’ funds though.

[DaleCooper]

I've not been following this too closely, but why are so many people pretending that this is some populist "sticking it to the man!" thing by buying worthless Gamestop stock for horribly expensive prices? Only a small percentage of people that got in early will have made any real money, and the people that have been buying during this week especially have gotten screwed over this. The reddit people that bought GME stocks over the last few days have more in common with Trump supporters buying inflated PredictIt shares after the election than they do with anyone else. Am I missing something?

No, you’re absolutely right. People like me who got in on January 25th and got out a couple of days later have made money. Those (the majority) who got in later and stayed in longer will lose money having bought the grotesquely inflated shares of a bad company. It’s amusing how Alexandria Ocasio-Cortez and others cheered on the creation of a bubble to stick it to the ‘hedge’ funds though.

Yes, it strikes me as very unethical for people like her and other leftwing commentators to romanticize this or cheer it on when it was causing uninformed people to throw away money that most of them probably couldn't afford to lose.

[The Houstonian]

I've not been following this too closely, but why are so many people pretending that this is some populist "sticking it to the man!" thing by buying worthless Gamestop stock for horribly expensive prices? Only a small percentage of people that got in early will have made any real money, and the people that have been buying during this week especially have gotten screwed over this. The reddit people that bought GME stocks over the last few days have more in common with Trump supporters buying inflated PredictIt shares after the election than they do with anyone else. Am I missing something?

No, you’re absolutely right. People like me who got in on January 25th and got out a couple of days later have made money. Those (the majority) who got in later and stayed in longer will lose money having bought the grotesquely inflated shares of a bad company. It’s amusing how Alexandria Ocasio-Cortez and others cheered on the creation of a bubble to stick it to the ‘hedge’ funds though.

Did she tell anyone to buy the meme stocks?

[DaleCooper]

I've not been following this too closely, but why are so many people pretending that this is some populist "sticking it to the man!" thing by buying worthless Gamestop stock for horribly expensive prices? Only a small percentage of people that got in early will have made any real money, and the people that have been buying during this week especially have gotten screwed over this. The reddit people that bought GME stocks over the last few days have more in common with Trump supporters buying inflated PredictIt shares after the election than they do with anyone else. Am I missing something?

No, you’re absolutely right. People like me who got in on January 25th and got out a couple of days later have made money. Those (the majority) who got in later and stayed in longer will lose money having bought the grotesquely inflated shares of a bad company. It’s amusing how Alexandria Ocasio-Cortez and others cheered on the creation of a bubble to stick it to the ‘hedge’ funds though.

Did she tell anyone to buy the meme stocks?

I don't think she did, but when there's a growing (false) consensus that purchasing worthless stock shares for inflated prices is actually a noble stand against an unjust society, public figures should feel obligated to tell their followers that this is not the case. At the very least, she shouldn't have added fuel to the fire.

The people that were buying GME earlier this week might as well have been withdrawing cash from their accounts and then setting the money on fire.

[The Houstonian]

I've not been following this too closely, but why are so many people pretending that this is some populist "sticking it to the man!" thing by buying worthless Gamestop stock for horribly expensive prices? Only a small percentage of people that got in early will have made any real money, and the people that have been buying during this week especially have gotten screwed over this. The reddit people that bought GME stocks over the last few days have more in common with Trump supporters buying inflated PredictIt shares after the election than they do with anyone else. Am I missing something?

No, you’re absolutely right. People like me who got in on January 25th and got out a couple of days later have made money. Those (the majority) who got in later and stayed in longer will lose money having bought the grotesquely inflated shares of a bad company. It’s amusing how Alexandria Ocasio-Cortez and others cheered on the creation of a bubble to stick it to the ‘hedge’ funds though.

Did she tell anyone to buy the meme stocks?

I don't think she did, but when there's a growing (false) consensus that purchasing worthless stock shares for inflated prices is actually a noble stand against an unjust society, public figures should feel obligated to tell their followers that this is not the case. At the very least, she shouldn't have added fuel to the fire.

The people that were buying GME earlier this week might as well have been withdrawing cash from their accounts and then setting the money on fire.

If she didn't encourage people to buy stocks, then this is a nothingburger, and I don't know of any instance where she encouraged people to buy stocks.

[DaleCooper]

I've not been following this too closely, but why are so many people pretending that this is some populist "sticking it to the man!" thing by buying worthless Gamestop stock for horribly expensive prices? Only a small percentage of people that got in early will have made any real money, and the people that have been buying during this week especially have gotten screwed over this. The reddit people that bought GME stocks over the last few days have more in common with Trump supporters buying inflated PredictIt shares after the election than they do with anyone else. Am I missing something?

No, you’re absolutely right. People like me who got in on January 25th and got out a couple of days later have made money. Those (the majority) who got in later and stayed in longer will lose money having bought the grotesquely inflated shares of a bad company. It’s amusing how Alexandria Ocasio-Cortez and others cheered on the creation of a bubble to stick it to the ‘hedge’ funds though.

Did she tell anyone to buy the meme stocks?

I don't think she did, but when there's a growing (false) consensus that purchasing worthless stock shares for inflated prices is actually a noble stand against an unjust society, public figures should feel obligated to tell their followers that this is not the case. At the very least, she shouldn't have added fuel to the fire.

The people that were buying GME earlier this week might as well have been withdrawing cash from their accounts and then setting the money on fire.

If she didn't encourage people to buy stocks, then this is a nothingburger, and I don't know of any instance where she encouraged people to buy stocks.

It's a nothingburger in the sense that she did nothing that will be likely to get any kind of backlash, but  I think contributing to disinformation is a bad thing, especially if it may have led to more people wasting their hard-earned money on this nonsense.

[The Houstonian]

I've not been following this too closely, but why are so many people pretending that this is some populist "sticking it to the man!" thing by buying worthless Gamestop stock for horribly expensive prices? Only a small percentage of people that got in early will have made any real money, and the people that have been buying during this week especially have gotten screwed over this. The reddit people that bought GME stocks over the last few days have more in common with Trump supporters buying inflated PredictIt shares after the election than they do with anyone else. Am I missing something?

No, you’re absolutely right. People like me who got in on January 25th and got out a couple of days later have made money. Those (the majority) who got in later and stayed in longer will lose money having bought the grotesquely inflated shares of a bad company. It’s amusing how Alexandria Ocasio-Cortez and others cheered on the creation of a bubble to stick it to the ‘hedge’ funds though.

Did she tell anyone to buy the meme stocks?

I don't think she did, but when there's a growing (false) consensus that purchasing worthless stock shares for inflated prices is actually a noble stand against an unjust society, public figures should feel obligated to tell their followers that this is not the case. At the very least, she shouldn't have added fuel to the fire.

The people that were buying GME earlier this week might as well have been withdrawing cash from their accounts and then setting the money on fire.

If she didn't encourage people to buy stocks, then this is a nothingburger, and I don't know of any instance where she encouraged people to buy stocks.

It's a nothingburger in the sense that she did nothing that will be likely to get any kind of backlash, but  I think contributing to disinformation is a bad thing, especially if it may have led to more people wasting their hard-earned money on this nonsense.

I can't see how she has contributed to disinformation.

[Sir Tiki]

GameStop Hearing Today: Roaring Kitty Along With CEOs To Appear Before Congress

The "meme stock" saga that began with wild swings in the price of GameStop stock last month opens a new chapter today. The House Financial Services Committee is convening a noon hearing to hear from major players touching several facets of the story.

The hearing is titled "Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide."

In announcing the hearing, Chairwoman Maxine Waters took particular aim at hedge funds, saying "private funds engaging in predatory short selling to the detriment of other investors must be stopped."

https://www.npr.org/2021/02/18/968829355/gamestop-hearing-today-roaring-kitty-along-with-ceos-to-appear-before-congress

[Bootes Void]

Gamestop back to $180 again the meme stocks are rebounding