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Redditors gave Wall Street traders an absolute pasting

Wild Card said:
When clover eventually goes the smaller the smaller hedge funds what have shorted will be completely vaporised in my opinion. It is it starting now i think. Everyday the LHF's return about 1million shares and let the smaller HF short away. They still cannot return past that 25million return wall though. sooner or later they are going to have to offer people more money if they want their shares. Clover have pulled their earning report forward as well for novemeber so im expecting a good report. hopefully the straw that beaks the camels back. The current price is about $7.9, i have sale orders set at 35, 50,75 and 100, they aint getting my shares for cheap.


Im not a professional or good investor, however, I do think that it cannot physically get lower that $7 so the upside is more than the downside in my opinion. people more knowledgeable than me feel the price should be about $20-30. The company is a new company but it has the potential to be huge in my opinion. it is in a very lucrative and large market and has the best tech by a country mile. it is a very competitive market though. It is burning through a lot of cash (it also has a lot) expanding massively, almost doubling revenue and client base every quarter. I have gone in heavy by my standards, im not wealthy, but have bought 400 shares. My average is $9. anything close to 8 or below is a good price in my untrained opinion.

if you do buy, don't worry about the price movements, it is an illusion at this point. Make sure you can hold, and dont buy with money you need because there is a chance the hedge funds will drag this out. Friday is a good day to buy, they like to (usually) bring the price down on a Friday. be prepared for emotional fuckery by the LHF's

Also, if you do buy set sell orders at a profit you want. Saves you having to watch a potentially volatile market every day.
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cheers mate, appreciate that
 

chopperrus said:
cheers mate, appreciate that
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no problems hopefully it will come off, I dont see how the large hedge funds can return 25 million borrowed shares, when them shareholders wont sell at that price. They surely have to offer higher prices if they want peoples shares?! But the rules dont seem to apply to large hedgefunds the days to cover don't seem to matter, how can they, when they cant cover the 25 million share?

what keeps me from panicking is that people like google and Ballie Gifford don't buy shit tech stock and they wont sell either. in fact google have stepped aside as competition as clovers tech is so good.
 
PTR said:
Still seems GME is shorted well beyond the actual float.
A float that is getting ever smaller now the retail holders are DRS'ing their shares en masse

Best guess I see at the moment is that the naked shorting is absolutely rife, but covered by deep OTM puts to pretend the SHFs aren't really short on GME at all. Which they obviously are.

As ever though, there seems to be no clear way for the situation to be resolved.
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Sec report dispels a lot of the naked shorting stuff
 
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Titus said:
Sec report dispels a lot of the naked shorting stuff
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Yeah, because its not naked - if you count insanely OTM Puts as fair coverage. Which they seem to be doing.

Sure 50c options on that stock you shorted at $150 and is now stable around $180. Looks Fine to Me .gif
 
PTR said:
Yeah, because its not naked - if you count insanely OTM Puts as fair coverage. Which they seem to be doing.

Sure 50c options on that stock you shorted at $150 and is now stable around $180. Looks Fine to Me .gif
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What is the evidence of the widespread naked short selling by big hedge funds?
 
Titus said:
What is the evidence of the widespread naked short selling by big hedge funds?
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every now and then, gigantic numbers of deep OTM puts pop up, then disappear again - as if someone is trying to keep things covered.
The companies involved always seem unheard of, but a few hours later a link to the big players is usually found.

Yes, I know I make this sound like its a cult. I'm not entirely sure it isn't.

I could point you to all the investigation documents that have been produced, but ironically, there's so much that it would be overwhealming and any sane person's instinct would be to say "fuck that".
 
PTR said:
every now and then, gigantic numbers of deep OTM puts pop up, then disappear again - as if someone is trying to keep things covered.
The companies involved always seem unheard of, but a few hours later a link to the big players is usually found.

Yes, I know I make this sound like its a cult. I'm not entirely sure it isn't.
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What, WSB?
 
Titus said:
What, WSB?
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The GME folks split off onto their own sub. And then that split again due to "shills" doing their best to spread FUD and make it toxic.
I've stuck with r/superstonk, but there's also r/GMEJungle (I think?) that is supposed to be decent.

WSB is lunacy in general tbh.

The mods at superstonk actually configured an AI to moderate. It checks a bunch of things before you're even allowed to post on it. Its quite impressive, and its really cut down on the nonsense. Mind, people are still reporting the SHF staffers are offering to literally buy their accounts, so that they can get back in to spread FUD. Its crazy :lol:
 
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PTR said:
The GME folks split off onto their own sub. And then that split again due to "shills" doing their best to spread FUD and make it toxic.
I've stuck with r/superstonk, but there's also r/GMEJungle (I think?) that is supposed to be decent.

WSB is lunacy in general tbh.

The mods at superstonk actually configured an AI to moderate. It checks a bunch of things before you're even allowed to post on it. Its quite impressive, and its really cut down on the nonsense. Mind, people are still reporting the SHF staffers are offering to literally buy their accounts, so that they can get back in to spread FUD. Its crazy :lol:
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Aye, that's crazy alright like :lol::lol:
 
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Titus said:
I just highly doubt any of that is coming from hedge funds mate :lol:
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You never know.
There's a lot of sentiment that there's attempt after attempt to shake the "apes" into selling. People keep pushing "the next GME" almost every week.
Silver has been tried a few times in the last year. For example.
 
PTR said:
You never know.
There's a lot of sentiment that there's attempt after attempt to shake the "apes" into selling. People keep pushing "the next GME" almost every week.
Silver has been tried a few times in the last year. For example.
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I'm more inclined to believe that sort of stuff is from people on the long side of certain things tbh.

There'll be more information comes out around the whole thing soon enough you'd imagine
 
Coming up to the 1yr anniversary for those who jumped on GME early. A $40 stock is now firmly settled into the $180-220 range with every chance there's more to come.
 
PTR said:
Coming up to the 1yr anniversary for those who jumped on GME early. A $40 stock is now firmly settled into the $180-220 range with every chance there's more to come.
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Think my average is about 90 dollars now.
Only have 7 shares like but just keeping a hold of them to see what happens longer term.
Unless something happens upwards with volatility and then I might flog some off.
 
chopperrus said:
cheers mate, appreciate that
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Not sure if you invested or not but you are probably thinking what's that dick got me into, so I thought I would give you a bit of an update to why things look so grim.

Basically what convinced me to invest was that this stock had been badly shorted by large institutions and the price wasn't the real price. The company is potentially a massive company. It had another earnings report at the beginning of November and it was good again.

What I didn't realise was how much people like bank of America and I think citadel had shorted the stock. It was so bad that they had lowered the price so much everyone stopped selling. So the shares that borrowed to short the stock couldn't be returned. They had no choice but to keep the price suppressed. They couldn't return the shares and they couldn't afford to buy them back without the price going mental. There was completed stalemate. They literally couldn't let it run.

So (this has not been confirmed) what looks to have happened is that the shares that couldn't be returned was 60 million shares. Clover have just don't a share offering of 60 million shares. I think these shares have gone straight to the big institutions to get out of the mess they created. What makes me say this is the initial offering was 45 million shares. Then the data (which had never been confirmed was released) the institutions came out and said they owed 60 million shares and clover revised their offering, I don't think it's a coincidence. Plus the shared were never offered to the open market and were bough straight away.

The price drop is the market reacting to the introduction of new shares. It has totally spooked the normal investors and they have ran for the hills.

As much I was pissed off that the people keeping the price down have been given a get out of jail free card if it breaks the stalemate and lets the share price find it's natural level then so be it.

Don't panic, we should see the price become the fair price soon enough....I hope.
 
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