Stock Market - Market Manipulation Exposed Worldwide by WallStreetBets!

itwasntme001

DiggerUK said:

itwasntme001 said:

DiggerUK said:

This thread has come about because a lot of wannabe Gordon Gekkos' are making out that they believe greed is bad and that an opportunity to be noisy and naughty due to teacher being out of the class room has started.

It is nothing of the sort, all thats happened is that everybody involved wants to be a get rich quick day trader. Instead of being honest and acknowledging the truth, they are instead putting up a lot of virtue signalling guff claiming to be raging against the system.

Day trading is what it is and it is the most dangerous way to invest outside of a casino..._

What is really going on is not about making money.

No kidding, like you believe we all needed to be told that.

This is a site were posters meet to discuss how to save money, not lose it. It isn't a social club for finanarchists to organise shareholder activists into a flash mob..._

You needed to be told (so others can safely ignore your silly posts).  You seemed to think it was just about making money or "day trading".  It is not.

This site is about saving and investing money sensibly.  But it is also, time after time, full of posts about the exact opposite.  By you taking part, it just encourages it. So stop being so hypocritical.

itwasntme001

Thrugelmir said:

itwasntme001 said:

Thrugelmir said:

itwasntme001 said:

Malthusian said:

Thrugelmir said:

Round up 4.5 million users find $20 billion and start buying up shares. Share price rises. The Company issues new shares and starts selling them into the market. Raising fresh capital. Doesn't make the fundamentals of the underlying business any better. Apparently an announcement is expected that a significant number of stores are going to be closed.

Would any of the bros actually buy any of the company's new shares though?

If the music's stopped by the time Gamestop gets its share offer off the ground, the pump doesn't actually do them any good.

One bro buying a share off another bro (or off someone that bought the share off a hedge fund going short) doesn't put any more money into Gamestop; as you point out, they need a capital raising for that.

Gamestop announcing that they're going to issue new shares would likely send the Redditors running for the exit, as they tried to cash out before the share offer diluted the value. Gamestop announcing that it's going to try to take some money off the table would result in the remaining players all trying to grab their share before it does.

This all assumes that there will actually be new equity issuance.  Big reputational risk for the banks to carry this out.  Imagine writing up prospectuses on GME stock issuance at $330 or $180 or even $50.  Everyone knows it is not worth much more than $20.  If you try to issue it that low, it will be seen as the banks helping out the hedge funds.  I doubt anyone would want to be near that sort of reputational damage.

No need for a prospectus.  The Company will have previously obtained authorisation at an AGM to issue shares. The shares will be placed directly. To hedge funds even. 

Are you sure it is as simple as that?  You need SEC approval as well.  I think there are a number of regulatory hurdles to cross.

Ever used PrimaryBid in the UK? That's how easy it is these days. 

Nope but GME is a US stock not a UK listed one.

itwasntme001

MaxiRobriguez said:

itwasntme001 said:

DiggerUK said:

This thread has come about because a lot of wannabe Gordon Gekkos' are making out that they believe greed is bad and that an opportunity to be noisy and naughty due to teacher being out of the class room has started.

It is nothing of the sort, all thats happened is that everybody involved wants to be a get rich quick day trader. Instead of being honest and acknowledging the truth, they are instead putting up a lot of virtue signalling guff claiming to be raging against the system.

Day trading is what it is and it is the most dangerous way to invest outside of a casino..._

This post shows the serious naivety in what is really going on and should be ignored.

What is really going on is not about making money.  It is about causing problems.  Whether it is due to genuine anger against the elite or not, it is about having fun and they are enjoying it.  Although it is clear to me that a lot of this fun stems from genuine anger and resentment.

You need to appreciate what is happening.  You need to respect it.

We'll see. 

There's a tonne of people - mostly young and inexperienced, getting sucked into this because they think there's a quick buck to be made.

The idea that all, or even most, of these people are just sticking it to Wall St and not seeking profit is fanciful considering many live pay pack to pay pack. Whilst some say they don't care about losing the money as they never had money, for some it'll impact on ability to pay rent.

When the stock reverts to $10, which it eventually will, we'll see the stories of tonnes of people saying "I was lulled into a false sense of security investing in GameStop. Everyone was doing it, I thought it couldn't lose."

Whilst I agree that many are being sucked in just to make a quick buck, I don't agree that most are living pay pack to pay pack.  It is the middle class kids participating in this.  Those who live with their parents usually.  Take a look at the posts.  It is largely about having lots of fun at the expense of Wall St.  They are loving it because the "elite" are getting hurt.  Of course it won't last, and likely many will get hurt holding onto a massively over valued stock.

DiggerUK

itwasntme001 said:u

DiggerUK said:

itwasntme001 said:

DiggerUK said:

This thread has come about because a lot of wannabe Gordon Gekkos' are making out that they believe greed is bad and that an opportunity to be noisy and naughty due to teacher being out of the class room has started.

It is nothing of the sort, all thats happened is that everybody involved wants to be a get rich quick day trader. Instead of being honest and acknowledging the truth, they are instead putting up a lot of virtue signalling guff claiming to be raging against the system.

Day trading is what it is and it is the most dangerous way to invest outside of a casino..._

What is really going on is not about making money.

No kidding, like you believe we all needed to be told that.

This is a site were posters meet to discuss how to save money, not lose it. It isn't a social club for finanarchists to organise shareholder activists into a flash mob..._

This site is about saving and investing money sensibly. 

No kidding, like you believe we all needed to be told that.

What is normally discussed here is how to get both a return on your money as well as the eventual return of your money.
Unlike your advice most posters choose what risk to take rationally, your kamikaze level of risk taking is a new one. Even the usual suspects will struggle with that..._

itwasntme001

Malthusian said:

itwasntme001 said:

This post shows the serious naivety in what is really going on and should be ignored.

What is really going on is not about making money.  It is about causing problems.  Whether it is due to genuine anger against the elite or not, it is about having fun and they are enjoying it. 

It will be "not about making money" for as long as the punters are making money, in the sense that their trading apps are showing a profit. Then when the share price reverts to the mean, and the suckers who came in late have lost their money, it will be about money again.

We're being asked to believe that bros who've never in their life donated more than a tenner to feed the hungry or some other charitable cause of their choice, are charitable enough to lose hundreds of pounds purely to "stick it to the hedge funds" and protect the jobs of people working for a struggling retailer.

If someone is willing to spend hundreds of pounds simply to keep someone in a dead-end job for a bit longer, you would imagine they must also be the kind of person who would spend hundreds of pounds to fund food banks, save endangered animals, fund suicide helplines, etc etc. Quite clearly that's not what's happening. So what is it that makes The Great Gamestop Crusade so much more compelling than saving people from dying of hunger or depression? Popular anger about bankers? Give over, the credit crunch was 12 years ago, and the current depression was caused by the twin viruses of rona and lockdown, which even the most ardent Antifasista would struggle to blame the bankers for. You might as well blame the dot-com crash for the riots of 2011.

What differentiates spending hundreds of pounds to stick it to hedgies over any number of other worthy causes is that if you give $100 to one of the others, your phone won't tell you it's multiplied to $200 one day and $500 the next (and there aren't fellow donors posting screenshots of how their donation turned into a million dollar fortune). It. Is. About. Making. Money.

Anytime someone in a money game tells you that it's not about money, that means it's about money.

This is no different to the idea that people piled into cryptos because they were really excited about the potential of blockchain to make financial transactions quicker and more secure.

Take a look at the posts on the reddit forum.  It is about having fun and about causing chaos to the financial elite.  Of course it will end badly for them as well as they all try to exit at once when they see serious falls.  But the original intention was never about making money for most of them.

Being charitable does not have the same impact.  Not even close.  This is about anger and resentment (and having fun whilst doing so).  Giving a few bucks to a homeless-man will go unnoticed.  Forcing hedge funds to take billions in losses is making headlines and causing all sorts of problems along the chain.  Many of the reddit traders will get hurt also, eventually.

There is still a lot of hatred against the financial elite, the bailouts of 2008, the widespread inequality etc.  This is the cause for what is happening now.  It is the cause of Trump, Brexit, various protests etc.  Whether they are right or wrong about what they believe is another matter.  What is, is.

Why did the hedge funds need to short so much?  Surely there needs to be controls in place to limit how much can be shorted (especially since they seem to have shorted more than the outstanding shares), in order to prevent destabilising of financial markets.  GME and others won''t likely ever be that disruptive, but I hope there are controls in place to prevent something like this happening in the future that will have much more serious repercussions.  I suppose hedge funds are likely to be smart enough to realise this, so it becomes self regulating.  But obviously not smart enough to realise it can happen to a stock like GameStop!

itwasntme001

DiggerUK said:

itwasntme001 said:u

DiggerUK said:

itwasntme001 said:

DiggerUK said:

This thread has come about because a lot of wannabe Gordon Gekkos' are making out that they believe greed is bad and that an opportunity to be noisy and naughty due to teacher being out of the class room has started.

It is nothing of the sort, all thats happened is that everybody involved wants to be a get rich quick day trader. Instead of being honest and acknowledging the truth, they are instead putting up a lot of virtue signalling guff claiming to be raging against the system.

Day trading is what it is and it is the most dangerous way to invest outside of a casino..._

What is really going on is not about making money.

No kidding, like you believe we all needed to be told that.

This is a site were posters meet to discuss how to save money, not lose it. It isn't a social club for finanarchists to organise shareholder activists into a flash mob..._

This site is about saving and investing money sensibly. 

No kidding, like you believe we all needed to be told that.

What is normally discussed here is how to get both a return on your money as well as the eventual return of your money.
Unlike your advice most posters choose what risk to take rationally, your kamikaze level of risk taking is a new one. Even the usual suspects will struggle with that..._

Funny how you just select part of my posts to make a point.  You really are an odd person.

My risk taking is perfectly fine.  And I certainly am not crazy enough to be 100% long gold!!  That is as reckless as you can get.

barnstar2077

I am sure many others believe that it is sticking it to the hedge funds etc, but the original organisers will have made a pretty penny out of it.

Edit:  Don't forget that millions of people also believe that Trump has their best interests at heart!!

HansOndabush

Silver up today though off the highs. Silver would be a much better investment than Gamestop and reportedly also being targeted by WallStreetBets.

IvanOpinion

Another little pyramid scheme for the zombie-like social media drones.  A small number are relying on the stupidity and gullibility of the majority - and social media believers prove just how gullible they are day-in-day-out.

Michael121

HansOndabush said:

Silver up today though off the highs. Silver would be a much better investment than Gamestop and reportedly also being targeted by WallStreetBets.

I had a browse through reddit, can't see them talking about buying silver.