Robert J. Shapiro | 21.02.03
The investors’ struggle over the video game retailer GameStop has been cast as a David versus Goliath story. Allegedly, this is the tale of scrappy, small online day traders buying shares of a beleaguered company to thwart a hedge fund scheme to take it down. Like GameStop’s stock, this narrative is mostly speculation because the facts about the buyers and sellers and their trades are hidden in the records of Robinhood, the new online trading platform, as well as Charles Schwab and other traditional broker-dealers. Only the SEC could demand to inspect those records.
Continue reading “Article: GameStop Isn’t a Popular Uprising”
Ian Sherr | 21.02.03
What makes this roller coaster unusual is why the Reddit community is buying up GameStop shares. While some of them say they believe in GameStop’s future, others are attracted to the idea that the higher GameStop’s shares go, the more Wall Street’s bad bets will cost institutional investors money.
Continue reading “Article: GameStop stock dropped, but Reddit still hopes to send it to the moon. Here’s what’s next”
Jack Kelly | 21.02.02
In a blistering interview with CNN, Senator Elizabeth Warren was incensed over the trading activities last week, saying the market “is a rigged game.” Warren boldly called out the Securities and Exchange Commission (SEC), the premiere Wall Street regulator, admonishing the agency “to grow a backbone” and “get off their duffs and do their jobs.”
Warren said, “We need more regulation about market manipulation.” She also decried the practices of “pump and dumps” and stock buybacks that enrich the CEOs and executives. The senator added, “The SEC needs a broader look at how hedge funds and corporations manipulate the market.”
Continue reading “Article: Senator Elizabeth Warren Tells The Securities And Exchange Commission To ‘Get Off Their Duffs And Do Their Jobs’ And Stop The ‘Rigged Game’ Of Market Manipulation”
Yael Halon | 21.02.02
“My hat’s off to them…it’s brilliant what they did.” — Jordan Belfort
The share price of video game retailer GameStop surged dramatically last week after a group of Reddit users teamed up to buy up the struggling retailer’s call options – hurting market short sellers.
“I believe this is a paradigm shift right now,” Belfort, who spent 22 months in prison after pleading guilty to charges of securities fraud and money laundering, told host Tucker Carlson.
Continue reading “Article: ‘Wolf of Wall Street’ Jordan Belfort Lauds ‘Brilliant’ Stock Revolt: ‘This is a Paradigm Shift’”
SCMP | 21.02.02
“When we get tagged as establishment, you can’t be more inaccurate than that,” he said. “It’s almost funny if it weren’t for the fact that I now have all these people trying to troll me.” What Block agrees with is the growing sense that financial markets are overvalued and predominantly small investors will be hurt when the bubble finally bursts. He faults the Federal Reserve for pumping in too much liquidity, allowing for too much credit extension and too much leverage.
Continue reading “Article: In the ‘Reddit vs Wall Street’ Battle, Muddy Waters sees a Smokescreen of Internecine Warfare Between Hedge Funds”
A mob of traders on Reddit’s WallStreetBets page have sent GameStop (GME), AMC (AMC) and other stocks skyrocketing in recent days. GameStop lost a quarter of its value Monday but it’s still up nearly 1,200% on the year. WallStreetBets successfully triggered an epic short squeeze, where investors that bet against GameStop have been forced to unwind their bets and buy the stock back. That in turn has driven GameStop even higher, creating even more losses for short-sellers.
Continue reading “Hedge Funds are Getting Crushed by the Worst Short Squeeze in a Quarter Century”
Matt Egan | 21.02.02
In a conversation with CNBC, co-founder of Babbage’s Gary Kusin revealed that he has mainly been an onlooker during the whole GameStop stock controversy. He has gotten the majority of his information about what is happening through his son, Ben, who is an experienced redditor. One of the subreddits Ben frequented was WallStreetBets, which allowed him and his father to watch the whole situation unfold from the very beginning. Continue reading “GameStop Founder Is “A Spectator” In Short Stock Controversy”
Alert Reader notes:
Shorting corporations and even governments has long been a means by which “loan” money sharks destroy and control creative money industry and governments. Although a crime, this activity is never prevented – but rather regulated to protect and create advantage for the perpetrators. So why not use this system of financial mass destruction against the destroyers? And, wouldn’t it be fitting that the common man’s money, silver, would be just the silver bullet needed to punish and return the market system to the people. JP Morgan may have captured the silver paper market, but the bulls control the physical market – if only they will.
Maybe the century old suppression and manipulation of silver prices has finally found its savior — a silver short squeeze, now in progress.
Continue reading “Top 11 Reasons The Short Silver Squeeze Is Very Possible”
Jim Willie | 21.02.01
Silver is up almost $3 from Singapore and soon Tokyo. I regard this entire Reddit Robin Hood movement as the Attack by the Lilliputians. Time to stampede over the JPMorgue zombies and take silver to $35/oz. Watch mining stocks to confirm the move of course, the Boyz can put it down with a paper barrage, but the Lilliputians might be in the tens of thousands and they smell blood. The GameStop was a trial run.
Continue reading “Another Thought on Silver by Jim Willie”
21.01.27 | By Eric Levitz
But the value of a company can’t be reduced to its expected future earnings. One must also consider a wide range of other factors. Among them: How much nostalgia does the firm inspire in users of the Reddit forum r/wallstreetbets? And would a rally in GameStop shares be funny? Which is to say, has the firm crossed the “so bad it’s good” threshold, as inadvertent comedic masterpieces like The Room or Troll 2 had done before it?
America’s top hedge funds failed to ask these questions. Fortunately, the collective wisdom of rational market participants ensured that they were eventually incorporated into GME’s stock price. And, as of 3 p.m. Wednesday afternoon, a share in the GameStop corporation attained its true, objective value of $321.14.
Continue reading “How Redditors Beat Hedge Funds at Their Own Game(Stop)”
The wallstreetboys reddit gamestop saga has been interesting. But the next chapter will be far more interesting.
The elite have striken back very agressive after being taken in total surprise. the robin hood app have forced all the gamestop traders to sell their shares instead of holding it. with some futher manipulation the elite where allowed to trade first and drove the reddit people to sell with loss.
Continue reading “Steven Vervaecke: Wall Street Controlled Demolition Part 2”
Alert Reader sent me this.
I believe that some opening shots may have been fired on Wall Street and the central banking system. It is unlikely that the recent price action GameStop stock (and others) was simply caused by Reddit bloggers. Understand that stock bloggers chat rooms have been around for two decades. Also understand that in order for a stock to move a couple of points, some serious and sustained purchase volume is needed. This would only come from well-capitalized or institutional sources. It is dubious to conclude that a bunch of keyboard warriors pooling their relative “nickels and dimes” would cause a major stock or market movement.
Continue reading “Robert Steele: Wall Street Controlled Demolition Part 1”