• The forum upgrades are now largely complete.
    Please read this thread for more details.
    New user registrations are currently disabled.

Redditors gave Wall Street traders an absolute pasting

PTR said:
Very tempted to put something into GME and AMC when the markets open this afternoon.
Might watch for a quick drop first though
Click to expand...

I’ve got £2k in already. The thing is reddit now basically controls the price the shorters get out at so it could go up into the thousands per share. Who knows.

It’s absolutely crazy seeing some of the gains, the bloke who put in 50-100k last year now has about $47m in shares and it could increase.
 
Last edited:
  • Like
Reactions: PTR

Adamoah said:
I’ve got £2k in already. The thing is reddit now basically controls the price the shorters get out at so it could go up into the thousands per share. Who knows.

It’s absolutely crazy seeing some of the gains, the bloke who put in 50-100k last year now has about $47m in shares and it could increase.
Click to expand...

Are you doing this to turn a profit? on principle? or both?

how are you planning to proceed?
 
Adamoah said:
I’ve got £2k in already. The thing is reddit now basically controls the price the shorters get out at so it could go up into the thousands per share. Who knows.

It’s absolutely crazy seeing some of the gains, the bloke who put in 50-100k last year now has about $47m in shares and it could increase.
Click to expand...
Jordan Belfort: “Right now, John, the stock trades over-the-counter at 10 cents a share. And by the way, John, our analysts indicate it could go a heck of a lot higher than that. Your profit on a mere $6,000 investment would be upwards of $60,000!”
Click to expand...
 
  • Like
Reactions: Cow
Adamoah said:
I’ve got £2k in already. The thing is reddit now basically controls the price the shorters get out at so it could go up into the thousands per share. Who knows.

It’s absolutely crazy seeing some of the gains, the bloke who put in 50-100k last year now has about $47m in shares and it could increase.
Click to expand...
It could go up to millions of pounds a share if enough idiots keep buying it. But ultimately those shares represent the ownership of the video game equivalent of Blockbuster, and will be ultimately worth next to nowt.

This may have started off as "sticking it to the shorts", and no-one is going to lose sleep about a couple of hedge funds busting out, but its the retail investors who buy at the top of the market who will end up carrying the most significant losses.
 
NYMackem said:
It could go up to millions of pounds a share if enough idiots keep buying it. But ultimately those shares represent the ownership of the video game equivalent of Blockbuster, and will be ultimately worth next to nowt.

This may have started off as "sticking it to the shorts", and no-one is going to lose sleep about a couple of hedge funds busting out, but its the retail investors who buy at the top of the market who will end up carrying the most significant losses.
Click to expand...
Not allowed to say that mate. Not here.
 
CatRyan said:
Are you doing this to turn a profit? on principle? or both?

how are you planning to proceed?
Click to expand...

It’s nice bleeding some billionaires dry, this could be the biggest transfer of wealth we’ll ever see but yeah I saw it as a chance to have a gamble. I can afford to lose £2k, but any profit is great so I’m in for as long as possible. Obviously will keep an eye on the price. There is actually huge amounts to be
made just by selling at the higher prices and buying back in when the hedge funds try to drive the price down.


NYMackem said:
This may have started off as "sticking it to the shorts", and no-one is going to lose sleep about a couple of hedge funds busting out, but its the retail investors who buy at the top of the market who will end up carrying the most significant losses.
Click to expand...

Inevitably some people will lose out because its highly volatile stock, and wall street have so many tricks they can pull. The theory is that they have shorted that much stock, that there should be time for everyone to get out.
 
Last edited:
Adamoah said:
It’s nice bleeding some billionaires dry, this could be the biggest transfer of wealth we’ll ever see but yeah I saw it as a chance to have a gamble. I can afford to lose £2k, but any profit is great so I’m in for as long as possible. Obviously will keep an eye on the price. There is actually huge amounts to be made just by selling at the higher prices and buying back in when the hedge funds try to drive the price down.
Click to expand...
No billionaires were bled dry in the making of this movie
 
monkeytassle said:
No billionaires were bled dry in the making of this movie
Click to expand...

You're not wrong probably the people investing in GameStop stock. If people think that they haven't got huge swathes of staff monitoring social trends then they couldn't be more wrong. Physical copies of video games will be around long after we are all gone.
 
look out piano said:
So there is a chance this could go tits up for the Redditors ?
Click to expand...
Whoever is left holding the shares at the end of the party is going to eat a 95% loss on the current share price, at least.

If you are a redditor and got in at $20 a share and then held on until they are back at that level, having achieved your goal of bankrupting a short (for whatever reason you would have that goal), then you could say that you haven't lost anything. But how many redditors who got in early do you think will sit there looking at a gain of tens of thousands of dollars and not sell?
 
Adamoah said:
It’s nice bleeding some billionaires dry, this could be the biggest transfer of wealth we’ll ever see but yeah I saw it as a chance to have a gamble. I can afford to lose £2k, but any profit is great so I’m in for as long as possible. Obviously will keep an eye on the price. There is actually huge amounts to be
made just by selling at the higher prices and buying back in when the hedge funds try to drive the price down.




Inevitably some people will lose out because its highly volatile stock, and wall street have so many tricks they can pull. The theory is that they have shorted that much stock, that there should be time for everyone to get out.
Click to expand...

I know people who are doing it solely for the principle, but I understand you can mix it up a bit there, interesting to see the different reasons for this
look out piano said:
So there is a chance this could go tits up for the Redditors ?
Click to expand...
it depends on what their reason was for doing it
 
NYMackem said:
Whoever is left holding the shares at the end of the party is going to eat a 95% loss on the current share price, at least.

If you are a redditor and got in at $20 a share and then held on until they are back at that level, having achieved your goal of bankrupting a short (for whatever reason you would have that goal), then you could say that you haven't lost anything. But how many redditors who got in early do you think will sit there looking at a gain of tens of thousands of dollars and not sell?
Click to expand...

Either that or everyone is currently in lockdown and the number of people buying video games has gone through the roof. The gaming scene is worth a lot and there will also be the basis of sentimentality attached to that. Who wants to buy downloads of games all the time? What are you going to spend your gains on - more video games?
 
Cypher said:
Either that or everyone is currently in lockdown and the number of people buying video games has gone through the roof. The gaming scene is worth a lot and there will also be the basis of sentimentality attached to that. Who wants to buy downloads of games all the time? What are you going to spend your gains on - more video games?
Click to expand...
When did you last go to our price or hmv?
 
CatRyan said:
I know people who are doing it solely for the principle, but I understand you can mix it up a bit there, interesting to see the different reasons for this

it depends on what their reason was for doing it
Click to expand...
What principle are they proving, and why is it worth hundreds or thousands of pounds to them personally to prove it? I'm not doubting this is true, I just don't understand what humanity gains from a couple of hedge funds going tits up and a few fund managers' CVs taking a hit.
 
NYMackem said:
What principle are they proving, and why is it worth hundreds or thousands of pounds to them personally to prove it? I'm not doubting this is true, I just don't understand what humanity gains from a couple of hedge funds going tits up and a few fund managers' CVs taking a hit.
Click to expand...
I think they are outraged at the shorting and many of them have chipped in and bought small amounts they can afford to lose for the principle of spanking the hedgefunds, I can not speak for them all obviously
 
  • Like
Reactions: PTR
CatRyan said:
I think they are outraged at the shorting and many of them have chipped in and bought small amounts they can afford to lose for the principle of spanking the hedgefunds, I can not speak for them all obviously
Click to expand...
Some of the stuff I’ve been reading are suggesting that they and their families were shafted in 2008 and this is their chance to push back.
 
You must log in or register to reply here.
Back
Top