|
Hhampuz
Legendary
Offline
Activity: 2954
Merit: 6087
Meh.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 06:59:17 PM |
|
|
|
|
|
OutOfMemory
Legendary
Offline
Activity: 1638
Merit: 3303
Man who stares at charts (and stars, too...)
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 07:01:33 PM |
|
LOL, listen to this crybaby. https://digg.com/2021/leon-cooperman-cnbc-gamestop-stock-price-interviewHedge fund billionaire Leon Cooperman went on CNBC to decry the Reddit-fueled frenzy that's currently sending shockwaves through the trading markets. The irate businessman said that people who are sitting at home and trading stocks using government checks was a "bullshit concept" and "a way of attacking wealthy people."
This does it. I haven't been into stocks for many years, but I'm buying GME on Monday to show my support. I too can stay retarded longer that those hedge funds can stay solvent. These diamond hands have practiced hodling for many years. I thought the same on Thursday. RH, by the way, should just go bankrupt, be sued and fuck off. What a shame for the great name they are carrying! Maybe it's even worth it in some twisted way....
Of course it is and it's called integrity, worth a lot more than $100. What's $ anyway? ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) BTC itself enabled me to just throw $300 at GME stonks, only to support WSB. If i get some money back, well, i won't refuse to cash out, but the majority of my GME holdings will be held as long as possible.
|
|
|
|
Gyrsur
Legendary
Offline
Activity: 2856
Merit: 1520
Bitcoin Legal Tender Countries: 2 of 206
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 07:03:21 PM |
|
TL;DR: explanation of the events of the last days EDIT: btw, if you listen to the beautiful German language you will get an impression why Hitler's voice had a huge impact on the masses. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
|
|
|
|
Elwar
Legendary
Offline
Activity: 3598
Merit: 2386
Viva Ut Vivas
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 07:09:45 PM |
|
Ya, Gamestop is certainly a pawn in this whole thing.
I think it was more like a bunch of online traders that have been following the hedge funds shorting over and over again talking about it and saying they should do something but nobody ever does anything.
Then they go after Gamestop and there are enough gamers online to finally say, today we do something about it.
It could have just as easily been something like Alienware or other somesuch company that would rally the nerds around it.
I would buy a Gamestop solely so I would have dibs on the latest console games to come out. Though I'm not much of a gamer anymore. Too busy.
|
|
|
|
DaRude
Legendary
Offline
Activity: 2868
Merit: 1859
In order to dump coins one must have coins
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 07:44:27 PM |
|
Ya, Gamestop is certainly a pawn in this whole thing.
I think it was more like a bunch of online traders that have been following the hedge funds shorting over and over again talking about it and saying they should do something but nobody ever does anything.
Then they go after Gamestop and there are enough gamers online to finally say, today we do something about it.
It could have just as easily been something like Alienware or other somesuch company that would rally the nerds around it.
I would buy a Gamestop solely so I would have dibs on the latest console games to come out. Though I'm not much of a gamer anymore. Too busy.
I thought it was the most shorted stock from all of them, the fact that it happened to be gamer stock was the cherry on top.
|
|
|
|
Arriemoller
Legendary
Offline
Activity: 2282
Merit: 1767
Cлaвa Укpaїнi!
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 09:00:55 PM |
|
Can you imagine working in Gamestop HQ. Your stores have been closed for a year due to a plandemic and your stock is way down...facing bankruptcy, you see the writing on the wall when a major hedge fund known for killing companies shorts the shit out of your stock and starts having their media puppets talk about how worthless your stock is... You sit there at the office, go on Monster.com to find another job, you start packing up your personal items so you don't have to worry about them later, you check in on your co-workers that will probably have a hard time finding another job...
Then you come into work the next day and find out that some random reddit posts are turning your company into the next Google.
As I understand it, it wasn't a random post, the guy had been buying GME regularly since 2019 and posted about it, and gotten ridiculed every time, until some other guys looked into the company and realized that it was actually doing fine and started buying too, and then more and more people did the same, and then it slowly snowballed. And now it's a grassroots movement against the hedgefonds.
|
|
|
|
|
Hhampuz
Legendary
Offline
Activity: 2954
Merit: 6087
Meh.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 09:11:39 PM |
|
As I understand it, it wasn't a random post, the guy had been buying GME regularly since 2019 and posted about it, and gotten ridiculed every time, until some other guys looked into the company and realized that it was actually doing fine and started buying too, and then more and more people did the same, and then it slowly snowballed. And now it's a grassroots movement against the hedgefonds.
Define Gamestop doing fine.. losing $1.6 billion over the last 12 quarters is.. fine? Also, grassroots movement against the hedgefunds > with other hedgefunds ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
|
|
|
|
El duderino_
Legendary
Offline
Activity: 2604
Merit: 12728
BTC + Crossfit, living life.
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 09:26:21 PM |
|
|
|
|
|
marcus_of_augustus
Legendary
Offline
Activity: 3920
Merit: 2349
Eadem mutata resurgo
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 09:37:14 PM |
|
On a side note. GameStop is not going anywhere. Bankruptcy is off the table. They have 60 million plus shares in their treasury that they bought back in 2019 for <$5 a share. Even if they just sold a portion at the recent prices, they can fund their operations for years.
If they sell all of them, it wouldn't help the shorts. It would still be the most heavily shorted stock in the market and it would have 18 billion plus in the bank to become a tech giant. The cash value alone of the company would be $150+ a share.
.... Plot twist, GameStop realises it's new found powers and makes bold moves to pivot it's business model and capital accounting towards bitcoin. ... starts accepting bitcoin lightning payments in- store and online for all it's products, installs bitcoin ATMs at all it's stores, allows customers to hold credit accounts in bitcoin and here's the kicker, takes advice from Saylor how to sell several billion in stocks/bonds to build a multi-billion giant bitcoin treasury position. gaming, gamers and bitcoin have a long history of synergies. The 2011 mining and adoption wave was majorly due to gamers repurposing GPUs toward bitcoin mining
|
|
|
|
Arriemoller
Legendary
Offline
Activity: 2282
Merit: 1767
Cлaвa Укpaїнi!
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 09:53:46 PM |
|
As I understand it, it wasn't a random post, the guy had been buying GME regularly since 2019 and posted about it, and gotten ridiculed every time, until some other guys looked into the company and realized that it was actually doing fine and started buying too, and then more and more people did the same, and then it slowly snowballed. And now it's a grassroots movement against the hedgefonds.
Define Gamestop doing fine.. losing $1.6 billion over the last 12 quarters is.. fine? Also, grassroots movement against the hedgefunds > with other hedgefunds ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) They were good financially, more cash than debt, was cleaning up its act with a new leadership. They were no way near a bankruptcy. And the guy I'm talking about calls himself DeepFuckingValue if you want to check him out, apparently he has a youtube channel too. My enemies enemy is my friend.
|
|
|
|
d_eddie
Legendary
Offline
Activity: 2590
Merit: 3330
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 10:15:59 PM Last edit: January 30, 2021, 10:52:40 PM by d_eddie Merited by vapourminer (1) |
|
Can you imagine working in Gamestop HQ. Your stores have been closed for a year due to a plandemic and your stock is way down...facing bankruptcy, you see the writing on the wall when a major hedge fund known for killing companies shorts the shit out of your stock and starts having their media puppets talk about how worthless your stock is... You sit there at the office, go on Monster.com to find another job, you start packing up your personal items so you don't have to worry about them later, you check in on your co-workers that will probably have a hard time finding another job...
Then you come into work the next day and find out that some random reddit posts are turning your company into the next Google.
As I understand it, it wasn't a random post, the guy had been buying GME regularly since 2019 and posted about it, and gotten ridiculed every time, until some other guys looked into the company and realized that it was actually doing fine and started buying too, and then more and more people did the same, and then it slowly snowballed. And now it's a grassroots movement against the hedgefonds. Since late 2019, DeepF__Value had been buying GME call options at strike prices that, while ridiculously low for today's prices, were already a few times the market value at the time. As we all know, options can easily amplify underlying volatility tenfold or more. So he made millions on those options. Part of the profit, he turned into more GME options and some stock too. That's when the whole thing became big enough to be noticed outside the WallStreetBets echo chamber. The starting analysis for buying bullish calls was entirely financial. He'd noticed their level of debt/cash flow was good enough to outrule any impending bankruptcy. Of course, all the hedgies shorting like mad were not helping at all. Here's an orderly Twitter summary https://twitter.com/MrBrownEyes2020/status/1354517067240771584EDIT - here's the original Reddit posts where DeepFuckingValue says he's buying the options. Everyone is sell sell sell ffs! But he's got a clear vision and some diamond hands. https://old.reddit.com/r/wallstreetbets/comments/d1g7x0/hey_burry_thanks_a_lot_for_jacking_up_my_cost/
|
|
|
|
|
jojo69
Legendary
Offline
Activity: 3262
Merit: 4476
diamond-handed zealot
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 10:45:12 PM |
|
|
|
|
|
xhomerx10
Legendary
Offline
Activity: 3934
Merit: 8495
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 10:51:28 PM |
|
Some people suddenly seem to faint with ecstasy whenever someone pronounces the name "Gamestop".
This is not about Gamestop, this is about shorters using their influence to artificially push prices down even further. It's about abuse of power. And that's indeed unacceptable.
No I agree, and I think most people, even the degenerates on WSB know what it's all about. It's become Occupy Wall Street 2.0 in cyberspace. But funny thing though, no one seems to care when Wall Street hitches all the hedge fund wagons and indexes to a few FAANG stocks, and then has the Fed give the CBs trillions in free money to continue pumping those few stocks to the moon. Just as corrupt a situation, if not more so. It's collusion of the highest order. I'm sorry Torque, Elwar, and others: I think this is "all about" a simple pump and dump married with a warped assed sense of "social justice". Feelings are a commodity like corn or oil, and in this case feelings of "rage" are being cashed into pumps and dumps across the financial spectrum. In the old days the hucksters would have to call you on the phone from a suckers' list and pitch you pink sheet stocks that you buy, price goes up a bit, they sell, you're left with worthless crap. Back then the hook would be greed, stupidity, maybe religious fervor (your church could get a new steeple! Or more clubs to bash Gay people!). Shit they made movies about this con game. But now... Now it's "different". Now you can profit off peoples' rage and lack of willingness to do anything about it. Instead you can get them to crowdfund a "cause", stick it to the "man" and all the while the shares you bought go off to the moon. "Look, he's honest, he has a hundred million in shares and *only* cashed out 5m!". Much like Occupy people were fucked, and Q-Anon people were fucked, these guys will be fucked. But the trick is the exit strategy in this con counts on these people saying "Well I lost my $100 but at least I was able to stick it to the MAN!!!" And they will be happy and the instigators will get their money. Maybe it's even worth it in some twisted way.... All true but in this case, because of how much is shorted and how much the company holds, this is very good financially for Gamestop the company as well. In the process of pumping GME for "insert reason", the internet has created a behemoth that won't easily dump. It is likely a pump and dump without the dump part. Gamestop the company doesn't have to get permission to issue new shares to make billions off of this. They can sell the shares they currently hold and instantly become a major company that can't be dumped. It's even possible they already have a deal in place worth billions. We will probably find out on Monday as their fiscal year ends on Sunday and they will be allowed to make public statements again. I get that this wasn't the intent of the pumpers but life has a funny way of changing what you intended into something you never intended. There was already a movement afoot by a few individuals to revitalize GameStop which included a refreshment of the board of directors. https://seekingalpha.com/article/4373819-gamestop-chewys-founder-ryan-cohen-finds-whats-next Ray Cohen had already planned to turn GameStop around, had forced some board resignations and brought some new talent along with him. https://www.globenewswire.com/news-release/2021/01/11/2156168/0/en/GameStop-Announces-Additional-Board-Refreshment-to-Accelerate-Transformation.html I wonder how it would have played out without the help of Reddit - Andrew Left and his cronies vs Ray Cohen and his new talent and money.
|
|
|
|
|
xhomerx10
Legendary
Offline
Activity: 3934
Merit: 8495
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 10:59:40 PM |
|
Can you imagine working in Gamestop HQ. Your stores have been closed for a year due to a plandemic and your stock is way down...facing bankruptcy, you see the writing on the wall when a major hedge fund known for killing companies shorts the shit out of your stock and starts having their media puppets talk about how worthless your stock is... You sit there at the office, go on Monster.com to find another job, you start packing up your personal items so you don't have to worry about them later, you check in on your co-workers that will probably have a hard time finding another job...
Then you come into work the next day and find out that some random reddit posts are turning your company into the next Google.
I bet you it would be similar to working an night shift at any other nondescript location having worked there for many years with no desire to find any other employment because it all sucks, checking your phone on your lunch break and seeing a bitcoins value skyrocketing towards nineteen thousand dollars US and realizing that your night-shift-working days are about to be terminated with prejudice. No other job required. It would be similar to that but not quite as good ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
|
|
|
|
OutOfMemory
Legendary
Offline
Activity: 1638
Merit: 3303
Man who stares at charts (and stars, too...)
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 11:05:02 PM |
|
My enemies enemy is my friend.
This. This move is like the rebel yell of the exploited, kicking off the revenge of "Occupy Wallstreet". Hodlers and WSB are brothers in arms.
|
|
|
|
jojo69
Legendary
Offline
Activity: 3262
Merit: 4476
diamond-handed zealot
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
January 30, 2021, 11:07:20 PM |
|
|
|
|
|
|