theprestige
Penultimate Amazing
Are put options immoral too?
I'm still wrapping my head around the idea that making a case for investing in GME is immoral if someone happens to believe the case is unfounded.
Are put options immoral too?
It does have some use in stopping death spiral financing. Companies that rely on issuing stock for survival don't deserve to live.
Is this "former broker or something" claiming he's turned 58k into 40 mil in 16 months of churning otm gamestop calls? Because I would be highly skeptical of such a claim. Particularly when essentially all of its growth has occurred in one month... when the run on those calls would have been insane. That sounds mighty fishy.
He’s got the receipts. Ain’t nothing fishy at all. Here is but one of the mainstream media stories about him since his identity was revealed.
https://www.nytimes.com/2021/01/29/technology/roaring-kitty-reddit-gamestop-markets.html
Daily Mail reported that Gill posted a screenshot showing he had turned a $745,991 investment into a more than $47 million windfall. The Reddit user’s page contains references to, and photos of, YouTuber Roaring Kitty.
Yea, that's not the problem. The problem is total lack of disclosure. That would get a Wall Streeter in trouble, BTW.
I can't get past the NYT paywall. Other articles I looked at said the facts of this performance can't be verified, only that he posted a screenshot that seemed to indicate it. This article suggests he invested about 750k in the company:
Can you quote the NYT article confirming his total investment and current value?
Except there's no contractual relationship between any of the investors.
That's neither here nor there. Even bloggers writing about specific companies on Seeking Alpha are required to disclose if they're long or short on the stock.
I dunno, diamond hands seems to be sticking for now.Sufficient resources maybe, but probably not sufficient resolve.
I think it was undervalued, in part due to the short shenanigans.This is one of the most disturbing things about this situation.
I bet you that NONE of the people who were buying Gamestop stocks, or praising this effort to "get back" at Wall Street, actually did any research into the company itself. The fact is that this company deserved to be in the state it was before this stock "pump" occurred.
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I dunno, diamond hands seems to be sticking for now.
One kind of amusing and oddball bit is that Gamestop is included in a couple of indexes, and therefore index fund managers have to have it in their portfolio. Sounds great because they have enjoyed the runup, but now they have to hang on for the wild ride back down, because they still have to keep the stock.
Required by who?
Authors are required to disclose personal positions in stocks they write about.
That's neither here nor there. Even bloggers writing about specific companies on Seeking Alpha are required to disclose if they're long or short on the stock.
Are all reddit comment posters required by law to disclose their holdings when giving their opinions on stocks? I haven't been following that subreddit- was there a poster who would be legally required to disclose, and didn't?
Yes, I'm a bit surprised.
What I had in mind though was not driving up the stock price by a factor of 20, but by a factor of 20,000. What happens if you're short, unhedged, nobody will sell, and the company can not or will not issue more stock?
That's neither here nor there. Even bloggers writing about specific companies on Seeking Alpha are required to disclose if they're long or short on the stock.
Required by who?
I'm confused, weren't they targeting Melvin Capital in particular and didn't MC already close out it's position?xjx388 said:I’d say, in my financial unsophistication, massive losses have already happened and the shorts will start buying soon to mitigate further losses, either because they give up or they are forced to by their brokers, bankers and other stakeholders who underwrite them.
By Seeking Alpha, because they want to avoid trouble with the SEC (and civil suits, I guess).
When transparency is trivially easy (the three magic words are "I'm long/short XYZ"), but you don't get it even though there's a huge potential for abuse, I can't help but wonder why.
I get that transparency is good. I don't get that it's universally required by law for everyone who talks about a stock.
Seeking Alpha requires it of people who publish opinions about stock on their platform, because they want to reap the benefits of transparency.
But such transparency is not an innate requirement of talking about stocks. People on Reddit, for example, don't have to say anything about their own position, in order to discuss a stock or advocate a position.
There’s a price at which someone will sell. Not every GME holder is a WSB YOLO retail investor. The unanswered question is exactly how many shares are controlled by WSB diamond hand holders. There might be a large number of shareholders who lucked into this situation and don’t quite have the diamond hands.
No they weren't, and no they haven't.I'm confused, weren't they targeting Melvin Capital in particular and didn't MC already close out it's position?
Apparently silver is the new Gamestop? Glad I didn't try to guess what would be next, I'd have never guessed silver.
Silver has risen nearly 15% since Thursday, when posts began circulating on Reddit urging retail investors to buy silver mining stocks and iShares Silver Trust, an exchange traded fund (ETF) backed by physical silver bars, in a GameStop-style squeeze.
At least with silver you got something of permanent value; with Gamestop you don't.
Perhaps I can convince my brother-in-law to melt down the approximate ton of his family silver that's cluttering up their dining room now. It's all old as hell, he's very proud of it and polishes it frequently. I don't see the point in owning objects whose only function is to sit upon a piece of furniture whose only function is to provide a place for those objects to sit on! It's a recursion of infinite pointlessness! And being silver it doesn't just clutter up space but also makes work for them as it requires dusting and polishing!!
Wow, the activity level on this thread seems to have come to a sudden halt, for some reason.
Don't know about others but I cashed in at the peak. I've taken my Trillion and invested in Bitcoin. I'll only be posting here again when I own the planet.![]()
Wow, the activity level on this thread seems to have come to a sudden halt, for some reason.
It should be pretty clear that the way this was presented, the normal people vs the hedge funds, was a gross distortion. This was a David vs Goliath tale, it's the stock market. It remains everybody vs everybody melee, and for every person making a quick buck there's somebody taking a loss.