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GameStop up mildly in early pre-market trading, 3% or so to $95.
Volatility has dropped off, as you can see in the 1wk return profile. The scale of intraday swings barely registers if your entry price was $200+.
Don’t expect to tweet much about this today—sideways most likely.
Volatility has dropped off, as you can see in the 1wk return profile. The scale of intraday swings barely registers if your entry price was $200+.
Don’t expect to tweet much about this today—sideways most likely.
Volatility picking up slightly. Down 5% after the bell. Nothing insane, but a bad start to the day.
There's millions of people holding onto this for dear life around the world, though. Lot of room for panic to build.
There's millions of people holding onto this for dear life around the world, though. Lot of room for panic to build.
Down to 10%. This is getting pretty bloody pretty fast. Let's see how WSB is doing.
They are panicked.
Just assume everything about GameStop or WSB has a TW attached for language lol. Anyway, they're inventing new forms of math to justify their position at this point.
This guy has not gotten the memo that it's being dumped, or is in denial.
This is actually insane. They're sitting here celebrating because the volume is lower, even though it's down 8% and looking like it's got more to fall?
They've started inventing other metrics to measure against to pretend things are going well?
They've started inventing other metrics to measure against to pretend things are going well?
They're super pissed that I pointed it out.
The Cope Saga continues. I'll probably put a big ass thread together of these just because how rude these assholes have been to anyone who steps out of line with their rapture prophecy.
The stock is starting to melt down. Down to $78, -15% on the day, pretty much a direct vertical climb from the open.
I am talking myself out of taking a position.
WSB is yelling at each other for a lack of discipline. They think they can shame the price up, I think.
Just saw someone sitting on an 80% loss. You need to 5x your money to get back to 0% return at that point.
Just saw someone sitting on an 80% loss. You need to 5x your money to get back to 0% return at that point.
The bleeding is accelerating, down to $72 (-21%).
Look at that. Absolutely beautiful. They really showed those hedge funds who's boss by... giving them all their money.
Pushing 23% loss for the day. I can't help but just burst out laughing.
I swear to God, I did my best to tell these people not to buy this shit and to sell it before this happened. I really did try. They were convinced they had figured out a cheat code in the financial system.
Price is at $70. They seem to be understanding that the party's over.
Price is at $70. They seem to be understanding that the party's over.
Again, TW for WSB language, but this is a pet theory of theirs: The "short ladder" attack. These aren't "real prices."
I mean, most of the volume probably is investment firms and HFTs, but that's the same with all other equities in the market. I don't know, it's delusional.
I mean, most of the volume probably is investment firms and HFTs, but that's the same with all other equities in the market. I don't know, it's delusional.
Pushing -30% on the day. Pretty much linear wave downward. Virtually all of WSB says they have not sold, which means there is plenty of room for more panic.
Here we go. Here's where the blame game gets real. We're gonna hear a lot more about this.
Even though people can buy and it's crashing, and every broker had collateral requirements they couldn't meet when people kept putting these on the books, THAT'S the reason they're losing.
Even though people can buy and it's crashing, and every broker had collateral requirements they couldn't meet when people kept putting these on the books, THAT'S the reason they're losing.
pwease ewon pump my bwags
Oh, NOW they're learning. "It went the same as any other pump and dump."
Yes, we told you that would happen.
Yes, we told you that would happen.
This. This right here.
They're down 35% and falling. Price at $59.
I’m honestly looking at the SEC like “what the fuck” on this. People are always idiots, but this is why we’re supposed to protect the integrity of the markets and prevent scams like this from reaching the scale it did.
This is the worst possible time for this to be happening.
This is the worst possible time for this to be happening.
They still fundamentally do not understand what happened with the trade restrictions.
Brokers DID not have an option. The hundreds of millions in shit stocks swinging 50% a day were useless as collateral. They couldn’t let clients put any more shares on their balance sheet.
Brokers DID not have an option. The hundreds of millions in shit stocks swinging 50% a day were useless as collateral. They couldn’t let clients put any more shares on their balance sheet.
That logic is also super flawed (that the run stopped because people couldn’t keep buying), and only works if you literally admit the price was not at all representative of $GME’s value, but a pure pump and dump that would break as soon as the buying slowed.
Which it was.
Which it was.
This is just sad. 30k upvotes on this. They are shocked that these two stocks are correlated, even though their entire price action has been determined by meme volume (they’re exposure to the same event). The entire basket of trade-restricted stocks are highly correlated.
They’re also ESPECIALLY correlated because of high volatility. You want to see something crazy? Watch a broad market selloff, like 2020 COVID panic or 2008–*everything* correlates.
Bitcoin, gold, treasuries, and stocks were all correlated during March panic. Trillions.
Bitcoin, gold, treasuries, and stocks were all correlated during March panic. Trillions.
When things correlate, it means you can’t move from asset to another and get any sort of safety out of that. EVERYTHING is bleeding. It all just becomes “risk.”
Anyway, of course AMC and GameStop are going to have a correlation of like 1:1.
Anyway, of course AMC and GameStop are going to have a correlation of like 1:1.
I love this. They pumped random, near-bankruptcy companies (including fucking Blockbuster) 1,000% at the same time and are now shocked when they’re falling at the same time.
Correlation on the way UP is cool, but down and it’s fishy. They’re seriously so dumb.
Correlation on the way UP is cool, but down and it’s fishy. They’re seriously so dumb.
$GME closed down 42% around $53.50.
I imagine there’s more room to fall given how many people are still holding.
There’s no way this all doesn’t lead to months of investigations.
There’s no way this all doesn’t lead to months of investigations.
