rich jews shorted it.
internet pumped it.
rich jews lost some shekels.
rich jews shorted it.
internet pumped it.
rich jews lost some shekels.
A subreddit called wall street bets found out some big hedge funds were shorting the stock. They then started memeing like autists and buying up the stock as fast as they could. This caused the stock price to go from $15 to a peak of like $380 in a weeks time. The big hedge funds had to sell out of thier short positions for a huge loss. Still waiting to see when the dust settles.
A subreddit called wall street bets found out some big hedge funds were shorting the stock. They then started memeing like autists and buying up the stock as fast as they could. This caused the stock price to go from $15 to a peak of like $380 in a weeks time. The big hedge funds had to sell out of thier short positions for a huge loss. Still waiting to see when the dust settles.
Its like an investment flash mob. Probably gonna look into a way to stop it.
Its like an investment flash mob. Probably gonna look into a way to stop it.
Doesn't the big fund have until Friday to settle? ie, can wait until Friday to buy?
It doesn't seem over yet, although the big markets are stopping the trading for gamestop at times. I don't know if that will help.
Doesn't the big fund have until Friday to settle? ie, can wait until Friday to buy?
It doesn't seem over yet, although the big markets are stopping the trading for gamestop at times. I don't know if that will help.
hedge funds sold stock that they promised to buy later. this is called shorting a stock and it's done all the time. the practical reason for "shorting" a stock is you can make money if a company's stock loses value over time.
the hedge funds "sold" the stock last year and now it's time for them to buy to finish up the second part of their trade. they have to buy. and reddit is pumping up the price of buying to levels far higher than hedge funds "sold" for earlier so they're going to lose tons of money.
some people will get rich, some people will lose lots of money, and reddit is basically a pawn.
hedge funds sold stock that they promised to buy later. this is called shorting a stock and it's done all the time. the practical reason for "shorting" a stock is you can make money if a company's stock loses value over time.
the hedge funds "sold" the stock last year and now it's time for them to buy to finish up the second part of their trade. they *have* to buy. and reddit is pumping up the price of buying to levels far higher than hedge funds "sold" for earlier so they're going to lose tons of money.
some people will get rich, some people will lose lots of money, and reddit is basically a pawn.
This is exactly how (((soros))) makes his money.
He bets big on things like government currency, and his money manipulates the value enough to drive the result he wants.
I predict (((reddit))) will make changes to counter this - either by force or because it will be profitable to them, and the people involved may end up facing lengthy investigations.
can't have the "commoners" using the tactics of the rich to elevate their status - especially at the expense of the rich fuckers.
This is exactly how (((soros))) makes his money.
He bets big on things like government currency, and his money manipulates the value enough to drive the result he wants.
I predict (((reddit))) will make changes to counter this - either by force or because it will be profitable to them, and the people involved may end up facing lengthy investigations.
can't have the "commoners" using the tactics of the rich to elevate their status - especially at the expense of the rich fuckers.
How was the information about shorts having to buy back?? I've looked into it all day and am so happy for the real people who are going to make bank.
How was the information about shorts having to buy back?? I've looked into it all day and am so happy for the real people who are going to make bank.
Some very rich people shorted Gamestop stock. Shorting is where they borrow stock from someone on a contract, they have to pay a fee to borrow the stock and return the stock on a certain day. The person who borrows the stock sells it (say for $10 per share) and hopes the value of the stock falls (to say $5 per share). When they have to return the shares, they buy them back for a lower value and return ownership to the person who lent then the stock, and then get to keep the difference from what they sold the shares at to what they had to buy the shares back at.
A bunch of people figured out that somebody borrowed a lot of shares of Gamestop and sold them (for say $10) and was hoping to buy the shares back for $5 and would get to keep the difference. What this bunch of people did was all start buying shares of Gamestop. Everyone on the market sees that there is a big demand for these shares so the value of the shares goes up. Now everybody is holding onto these shares, not selling them, driving up the value even more. On Friday, the people who borrowed at $10 and were hoping to buy back at $5, will have to buy back at $250 or more, which is going to cost them billions of dollars.
Some very rich people shorted Gamestop stock. Shorting is where they borrow stock from someone on a contract, they have to pay a fee to borrow the stock and return the stock on a certain day. The person who borrows the stock sells it (say for $10 per share) and hopes the value of the stock falls (to say $5 per share). When they have to return the shares, they buy them back for a lower value and return ownership to the person who lent then the stock, and then get to keep the difference from what they sold the shares at to what they had to buy the shares back at.
A bunch of people figured out that somebody borrowed a lot of shares of Gamestop and sold them (for say $10) and was hoping to buy the shares back for $5 and would get to keep the difference. What this bunch of people did was all start buying shares of Gamestop. Everyone on the market sees that there is a big demand for these shares so the value of the shares goes up. Now everybody is holding onto these shares, not selling them, driving up the value even more. On Friday, the people who borrowed at $10 and were hoping to buy back at $5, will have to buy back at $250 or more, which is going to cost them billions of dollars.
The retail investors spanked the institutional shorts... the stock will soon be back to $10 and the retail morons will be crying.
The retail investors spanked the institutional shorts... the stock will soon be back to $10 and the retail morons will be crying.
ELI5: "I will gladly pay you Tuesday for a Hamburger today" -J. Wellington Wimply
So then Popeye sets his price of a Hamburger, on Tuesday, to $1,000.
ELI7: Except it isn't just one hamburger, it is every hamburger Popeye would make in a day plus what he makes for a picnic with Olive Oil.
ELI9: And Wimply took out a loan thinking that the price of hamburgers was about to go down.
ELI13: There is a price where Wimply could still buy all of the hamburgers without going bankrupt but we are beyond that and now no one knows whether he will still attempt to pay for every hamburger, how many hamburgers will be purchased, and whether the bank he borrowed from will need to close.
ELI5:
"I will gladly pay you Tuesday for a Hamburger today" -J. Wellington Wimply
So then Popeye sets his price of a Hamburger, on Tuesday, to $1,000.
ELI7:
Except it isn't just one hamburger, it is every hamburger Popeye would make in a day plus what he makes for a picnic with Olive Oil.
ELI9:
And Wimply took out a loan thinking that the price of hamburgers was about to go down.
ELI13:
There is a price where Wimply could still buy all of the hamburgers without going bankrupt but we are beyond that and now no one knows whether he will still attempt to pay for every hamburger, how many hamburgers will be purchased, and whether the bank he borrowed from will need to close.
Borrowed stock for the purposes of shorting is called the "float". Short sellers sell borrowed shares at a high price with the hopes of repaying them later at a lower price. If the price rises against them, they get trapped in the float and eventually have to buy shares to cover their debt. If a lot of people are in the float and you happen to own a few shares, you can ask a high price as those in the float have no choice but to buy and cover. When buyers in the float are depleted, the artificially high price will likely decrease.
Borrowed stock for the purposes of shorting is called the "float". Short sellers sell borrowed shares at a high price with the hopes of repaying them later at a lower price. If the price rises against them, they get trapped in the float and eventually have to buy shares to cover their debt. If a lot of people are in the float and you happen to own a few shares, you can ask a high price as those in the float have no choice but to buy and cover. When buyers in the float are depleted, the artificially high price will likely decrease.
[Here you go.](https://poal.co/c/46edccc7-45bf-4681-a8f0-f4be692a5b3f#cmnts)
(post is archived)