Game Stop incredible story

What happened basically is US publically listed company Gamestop is a very average performing company... Wallstreetbets a retail community saw hedge funds were shorting the company and grouped together to bid the stock up so much it created a short squeeze forcing hedge funds to buy back stock at much higher prices sending stock prices even higher...

This is huge news for retail investors and will change the landscape for wallstreet forever...
The little man fights back this is truely a phenomenal story..

https://www.theguardian.com/business...il-wall-street

:eek2:cc

heh, now watch "them" change the rules

My understanding is the shorts were 140% of the shares on issue, which means (in theory) some shorters could never close their position. When that is combined with an increasing number of members of the online community buying and refusing to sell, it creates an amplified squeeze as shorters seek (or are forced) to close their positions. I'm not convinced we have seen the top yet for GME given various participants with a lot to lose are interfering with the ability of retail investors to get amongst it. Once these restrictions lift overnight we may see more volatility. It's basically a game of chicken at the moment.

The community is also targeting other stocks such as AMC, BB, BBBY and NOK (NOK - really? or is that a pump and dump?). Other potential candidates saw a spike Wednesday due to IMO shorters closing out their positions to avoid issues with other highly shorted shares, e.g. LGND comes to mind.

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My understanding is the shorts were 140% of the shares on issue,

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So, it's no longer necessary to borrow shares in order to short a company?

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Originally Posted by macduffy

So, it's no longer necessary to borrow shares in order to short a company?

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Could have created the short via an option , hence the over 100 % , which I thought was banned after 1930's ....
Hedge funds have themselves to blame for lack of risk control on the position they took .....

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Originally Posted by Ferg

My understanding is the shorts were 140% of the shares on issue, which means (in theory) some shorters could never close their position. When that is combined with an increasing number of members of the online community buying and refusing to sell, it creates an amplified squeeze as shorters seek (or are forced) to close their positions. I'm not convinced we have seen the top yet for GME given various participants with a lot to lose are interfering with the ability of retail investors to get amongst it. Once these restrictions lift overnight we may see more volatility. It's basically a game of chicken at the moment.

The community is also targeting other stocks such as AMC, BB, BBBY and NOK (NOK - really? or is that a pump and dump?). Other potential candidates saw a spike Wednesday due to IMO shorters closing out their positions to avoid issues with other highly shorted shares, e.g. LGND comes to mind.

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Yeah im not too sure why BB or NOK is on there, their % shorted isnt even that high compared to amc, bbby, gme

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Originally Posted by macduffy

So, it's no longer necessary to borrow shares in order to short a company?

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Legally it is, but since when has that mattered? The major short, Melvin Capital, enlisted at one point the assistance of Citadel who as a Market Maker can open naked short positions, but even then they should only be doing that to essentially supply liquidity to an illiquid stock and ensure proper market operation or whatever. There's clearly illegal behaviour going on in this one, and it's not on the part of a bunch of retail investors basically gambling it all on black.

Is there any easy way to short GME (and other US stocks for that matter) from NZ? Surely this is now a clear short opportunity.

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Originally Posted by James108

Is there any easy way to short GME (and other US stocks for that matter) from NZ? Surely this is now a clear short opportunity.

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That’s what the hedge fund thought .These closed at $198.00 at the end of their session yesterday . Currently over $ 400 in after market or premarket whatever it is . That’s a whole world of pain to a short ..... Good luck !

WHAT HAPPENED !!!...
ROBIN HOOD AND OTHER 3RD PARTIES SUSPENDED
BUYING OF stock so you could only sell and not buy so prices could only fall so that these hedge funds could close out their short positions...
!!!... this is huge huge stuff going on ...
This is gona boom cryptocurrency and it already is...
These 3rd parties cant be trusted...

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Originally Posted by stoploss

That’s what the hedge fund thought .These closed at $198.00 at the end of their session yesterday . Currently over $ 400 in after market or premarket whatever it is . That’s a whole world of pain to a short ..... Good luck !

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It only closed down because of what I said in previous post...
This is a huge stab in the back for all retail investors...
:cool:cc

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Originally Posted by James108

Is there any easy way to short GME (and other US stocks for that matter) from NZ? Surely this is now a clear short opportunity.

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Only if you enjoy the thought of impending bankruptcy. As at yesterday, there were 9000 total stocks available to borrow for a short, at 32%. Naked shorting unless you're a market maker is securities fraud. And all the float is in the hands of either ETFs that can't drop them yet because they need to wait for rebalance, or people who hold simply for the purpose of destroying you​ if you're shorting it.

Re: shorting it. I know how to manage risk, I.e not go bankrupt. when i typed that it was already $400ish in pre-market. I would be willing to bet that the stock halves before it tripples from here from $290 (I could be wrong but that would be the parameters for me closing out my short), and also that it would be lower than $290 in a year from now.

So what you are saying is despite this clearly going to fall off a cliff at some point there is no way to short it?

From my understanding the leverage involved when as short is falling is big. The likes of GME still have plenty of upside potential until the existing shorts in the stock have played out.

If looking at what is coming out on Reddit is anywhere near correct - then GME still looks over 110% shorted

There may still be a fair bit further mileage left in pile driving the Hedgies further into the ground for those
brave enough to consider Game not Over by any lengths.. ;)

The Hedgies still have to buy in further big time to cover their backsides on their short plays..
or wear the time cost on open shorts - it wont go away fast, without more pain incurred

As they say - the more in the Casino - the merrier the time to be had ;)

Great story and well done to the redditors who thought up the scheme.

Sad to see the mainstream media bagging them. I don't have anything against Melvin Capital but you take the risk you take the consequences of being wrong or someone out playing you at the stock market game.

Sad to see Citadel bailing out Melvin capital and possibly government agencies coming in to help (too big to fail?). It would be a shame to see a continuation of the "heads I win tails you lose" market in the USA.

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Originally Posted by Aaron

Great story and well done to the redditors who thought up the scheme.

Sad to see the mainstream media bagging them. I don't have anything against Melvin Capital but you take the risk you take the consequences of being wrong or someone out playing you at the stock market game.

Sad to see Citadel bailing out Melvin capital and possibly government agencies coming in to help (too big to fail?). It would be a shame to see a continuation of the "heads I win tails you lose" market in the USA.

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Wallstreet have been taking advantage of retail nvestors for decades... the first time retail investors fight back ... the hedge funds get bailed out...it all stinks to high hell...

:cool:cc

This is courtesy of Paddles...
This is an absolute bomb shell unfolding....

Attachment 12273

:cool:cc

No allowed to buy GME or AMC here via Sharesies' US Partner - Drivewealth as of tonight !!

Different story for selling, which is fine by the same US provider for Sharesies ;)

Talk about market rigging being practiced & pushed outwards from some providers

Are Drivewealth affiliated with another alleged outfit of Hooded Robbers in the US
in practicing stealing buying opportunities from their customers when they feel like it, etc ? ;)

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Originally Posted by nztx

No allowed to buy GME or AMC here via Sharesies' US Partner - Drivewealth as of tonight !!

Different story for selling, which is fine by the same US provider for Sharesies ;)

Talk about market rigging being practiced & pushed outwards from some providers

Are Drivewealth affiliated with another alleged outfit of Hooded Robbers in the US
in practicing stealing buying opportunities from their customers when they feel like it, etc ? ;)

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point72 are major investors of Drivewealth. point72 along with citadel have recently bailed out Melvin Capital. So basically point72 are helping Melvin and using Drivewealth to shut down buying. Truly fascinating.

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Originally Posted by nztx

Are Drivewealth affiliated with another alleged outfit of Hooded Robbers in the US
in practicing stealing buying opportunities from their customers when they feel like it, etc ? ;)

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Indeed. DriveWealth's lead investor is Point72 Capital, who invested alongside Citadel Capital in ... you guessed it, Melvin Capital.

Anyone not a Spectator here -- heading into the earlies tomorrow morn ? ;)

As clear as day what's going on IMO -

https://finance.yahoo.com/quote/amc?....tsrc=fin-srch

Pre-open: 2 Feb US as showing right now

AMC Entertainment Holdings, Inc. (AMC)
NYSE - NYSE Delayed Price. Currency in USD

13.30+0.04 (+0.30%)
At close: 4:00PM EST

10.08 -3.22 (-24.21%)
Before hours: 5:30AM EST


https://finance.yahoo.com/quote/gme?....tsrc=fin-srch

Pre-open: 2 Feb US as showing right now

GameStop Corp. (GME)
NYSE - NYSE Delayed Price. Currency in USD

225.00-100.00 (-30.77%)
At close: 4:00PM EST

173.48 -51.52 (-22.90%)
Before hours: 5:31AM EST


Remove or reduce Buy side past open - we all know what sort of orchestrated discounted SP's will likely result ..
for any who may choose to liquidate into a rigged knocked down market ;)

Quote:

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Originally Posted by nztx

As clear as day what's going on IMO -

https://finance.yahoo.com/quote/amc?....tsrc=fin-srch

Pre-open: 2 Feb US as showing right now

AMC Entertainment Holdings, Inc. (AMC)
NYSE - NYSE Delayed Price. Currency in USD

13.30+0.04 (+0.30%)
At close: 4:00PM EST

10.08 -3.22 (-24.21%)
Before hours: 5:30AM EST


https://finance.yahoo.com/quote/gme?....tsrc=fin-srch

Pre-open: 2 Feb US as showing right now

GameStop Corp. (GME)
NYSE - NYSE Delayed Price. Currency in USD

225.00-100.00 (-30.77%)
At close: 4:00PM EST

173.48 -51.52 (-22.90%)
Before hours: 5:31AM EST


Remove or reduce Buy side past open - we all know what sort of orchestrated discounted SP's will likely result ..
for any who may choose to liquidate into a rigged knocked down market ;)

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Is it just drivewealth restricting the buy side ?
Can it be purchased on other platforms in US?

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Originally Posted by ynot

Is it just drivewealth restricting the buy side ?
Can it be purchased on other platforms in US?

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I'm guessing Fidelity still open for buys (but not confirmed)

Seen on Reddit Board a few hours ago:


"GME just got put on the NSYE Short Sale Restrictions List with an anticipated deactivation date of 2/3/2021, which means tomorrow the hedgies wont be able to continue their short ladder attacks!"

That's going to snooker the hedgies ;)

Anyone else here preparing for liftoff?