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1) Enjoying the irony in the $GME excitement: the fact that fund manager’s believe that a company's services are economically useless, and have bet on its failure, has caused the company to have access to more capital at absurd prices (in theory).
https://www.nytimes.com/2021/01/27/business/gamestop-wall-street-bets.html https://twitter.com/Mediaite/status/1354504710695362563
https://www.nytimes.com/2021/01/27/business/gamestop-wall-street-bets.html https://twitter.com/Mediaite/status/1354504710695362563
2) With a bubble forming that will burst, wealth transfer will occur from late buyers to early buyers, on average.
On Wednesday, when the shares rose almost 135%, $24B of shares changed hands.
Between Tuesday and Wednesday, the market value of GME rose over $10 billion.
On Wednesday, when the shares rose almost 135%, $24B of shares changed hands.
Between Tuesday and Wednesday, the market value of GME rose over $10 billion.
3) GME had been short ~136% prior to the run up in price.
Compare GME market cap to other tickers, sit back, and chuckle.
Retail brokerages reportedly are making it hard to trade GME. They are protecting themselves, not retail traders.
Compare GME market cap to other tickers, sit back, and chuckle.
Retail brokerages reportedly are making it hard to trade GME. They are protecting themselves, not retail traders.
4) Hedge fund, Melvin Capital Management, that was short GME got a ~$2.75 billion
https://www.bloomberg.com/news/articles/2021-01-25/gamestop-short-sellers-reload-bearish-bets-after-6-billion-loss
injection from two GOP megadonors, Ken Griffin and Steven Cohen to reportedly cover shorts.
Melvin Capital and Citron have reportedly closed the majority of their
https://www.bloomberg.com/news/articles/2021-01-25/gamestop-short-sellers-reload-bearish-bets-after-6-billion-loss
injection from two GOP megadonors, Ken Griffin and Steven Cohen to reportedly cover shorts.
Melvin Capital and Citron have reportedly closed the majority of their
5) GameStop position at a loss. Hmmm. Maybe.
But I'd ask, did either post margin or take on options trades to hedge to wait for the stock to tank?
https://www.vice.com/en/article/pkdvgy/send-this-to-anyone-who-wants-to-know-wtf-is-up-with-gamestop-stock
On the surface the GameStop fiasco looks like youngsters kicking Wall Street’s butt. But I don't
But I'd ask, did either post margin or take on options trades to hedge to wait for the stock to tank?
https://www.vice.com/en/article/pkdvgy/send-this-to-anyone-who-wants-to-know-wtf-is-up-with-gamestop-stock
On the surface the GameStop fiasco looks like youngsters kicking Wall Street’s butt. But I don't
6) buy that. Too much open interest and fund managers have access to more capital than retail trader's. Managers also have relationships with brokerages and data providers.
Expect more retail trader's to lose money than the count of retail trader's that make money. Nonetheless,
Expect more retail trader's to lose money than the count of retail trader's that make money. Nonetheless,
7) to those who cash out at a profit, cheers ;)
Some will cry GME should be worth what earnings support. LOL.
What stock is worth what traditional discounted cash flow models suggest?
Some will cry GME should be worth what earnings support. LOL.
What stock is worth what traditional discounted cash flow models suggest?
8) Short-sellers lost $14.3 billion today alone on $GME, according to S3 Partners.
What % of the loss is to fund managers vs retail traders?
Need to do a case-study on this one.
What % of the loss is to fund managers vs retail traders?
Need to do a case-study on this one.
9) @wsbmod is account to observe for this story.
WSJ story: by using social media accounts, people can be loosely organized to drive share prices.
If you think social media platforms can be used to drive people https://www.wsj.com/articles/blackberry-amc-and-other-reddit-yolo-favorites-that-arent-gamestop-11611681716?mod=e2tw
WSJ story: by using social media accounts, people can be loosely organized to drive share prices.
If you think social media platforms can be used to drive people https://www.wsj.com/articles/blackberry-amc-and-other-reddit-yolo-favorites-that-arent-gamestop-11611681716?mod=e2tw
10) to take actions to drive share prices, but deny how effective a foreign military intel service can be to drive people to vote a certain way, you should revisit the Mueller Report and related reports and think about what one could achieve with public data and stolen data.
11) "People appear to have learned an existing infrastructure, identified how they could manipulate it as a collective, and deployed at scale a strategy."
@JesseDamiani has a nice thread at https://www.realitystudies.co/p/whats-happening-with-gamestopand
@JesseDamiani has a nice thread at https://www.realitystudies.co/p/whats-happening-with-gamestopand
12) Hedge fund managers gonna have to pull themselves up by their amazing bootstraps.
Enjoy @profgalloway take on situation. The professor says it is all about sex. Basically, wealth transfers and income inequality over last decades combined with pandemic means many young males
Enjoy @profgalloway take on situation. The professor says it is all about sex. Basically, wealth transfers and income inequality over last decades combined with pandemic means many young males
13) without jobs have time on hand but are not having sex. Connect that to Trump Presidency and rise to power.
Donald comes along and has an audience of lost people to use & manipulate, among an audience of usual GOP voter's.
But who helped put Trump in power? Stone,
Donald comes along and has an audience of lost people to use & manipulate, among an audience of usual GOP voter's.
But who helped put Trump in power? Stone,
14) Manafort, Flynn, and a host of others.
Back to $GME. The chief beneficiary (on paper) of the GameStop rise is Ryan Cohen, co-founder of Chewy, who owns 13% stake in GameStop.
The other big GameStop winner is Donald Foss, the 76-year-old founder and former CEO of
Back to $GME. The chief beneficiary (on paper) of the GameStop rise is Ryan Cohen, co-founder of Chewy, who owns 13% stake in GameStop.
The other big GameStop winner is Donald Foss, the 76-year-old founder and former CEO of
15) Credit Acceptance Corp., a subprime auto lender.
GameStop CEO George Sherman has seen his 3.4% stake in the company jump to a value of over $350 million.
More than $2 billion in personal wealth has accumulated for the company’s three biggest individual shareholders.
GameStop CEO George Sherman has seen his 3.4% stake in the company jump to a value of over $350 million.
More than $2 billion in personal wealth has accumulated for the company’s three biggest individual shareholders.
