Redditors gave Wall Street traders an absolute pasting

The Albanian

The Albanian

Winger
Group of firms short GameStop stock, basically hoping for the company to fail.

Members of subreddit r/WallStreetBets which has 2.8m members didn’t like that so worked to drive their stock price up and punish the firms profiting off businesses failing. 6 months ago $GME was trading at $4 per share. A week ago it was at $35. Last night it reached a high of $243.


Wall Street firms have lost billions - Melvin Capital have lost so much they needed a $3b bailout to avoid bankruptcy.

This In turn has lead to Wall Street to complain that the wrong people are manipulating the market, completely overlooking the fact they did it for profit for decades and brought the world to its knees in 2008.

Funny

marker.medium.com

The GameStop Fiasco Proves We’re in a ‘Meme Stock’ Bubble

What the new dynamic between Redditors and Wall Street reveals about the stock market in 2021
marker.medium.com marker.medium.com
 


The Albanian said:
Group of firms short GameStop stock, basically hoping for the company to fail.

Members of subreddit r/WallStreetBets which has 2.8m members didn’t like that so worked to drive their stock price up and punish the firms profiting off businesses failing. 6 months ago $GME was trading at $4 per share. A week ago it was at $35. Last night it reached a high of $243.


Wall Street firms have lost billions - Melvin Capital have lost so much they needed a $3b bailout to avoid bankruptcy.

This In turn has lead to Wall Street to complain that the wrong people are manipulating the market, completely overlooking the fact they did it for profit for decades and brought the world to its knees in 2008.

Funny

marker.medium.com

The GameStop Fiasco Proves We’re in a ‘Meme Stock’ Bubble

What the new dynamic between Redditors and Wall Street reveals about the stock market in 2021
marker.medium.com marker.medium.com
Click to expand...
power to the people😎
 
The Albanian said:
Group of firms short GameStop stock, basically hoping for the company to fail.

Members of subreddit r/WallStreetBets which has 2.8m members didn’t like that so worked to drive their stock price up and punish the firms profiting off businesses failing. 6 months ago $GME was trading at $4 per share. A week ago it was at $35. Last night it reached a high of $243.


Wall Street firms have lost billions - Melvin Capital have lost so much they needed a $3b bailout to avoid bankruptcy.

This In turn has lead to Wall Street to complain that the wrong people are manipulating the market, completely overlooking the fact they did it for profit for decades and brought the world to its knees in 2008.

Funny

marker.medium.com

The GameStop Fiasco Proves We’re in a ‘Meme Stock’ Bubble

What the new dynamic between Redditors and Wall Street reveals about the stock market in 2021
marker.medium.com marker.medium.com
Click to expand...
Shares and shareholders are the pinnacle of what is wrong with a commercial, capitalist society. As soon as a company has shareholders, their focus changes.
I remember when Tesco’s share price tanked because they ‘only’ made £2bn profit one year. fucks sake.
 
Last edited:
mitty54 said:
Anybody bought either of these two stocks?
Reddit users are pumping the price up to shaft some of the big American hedge funds and try and make a profit themselves.Risky but could be profitable.

t.co

AMC is today's GameStop. A Reddit mob sent its stock more than 200% higher

Welcome to the Reddit market.
t.co t.co
Click to expand...
was just reading the other thread.....how risky is it if 2.8M people collude? Maybe theyve just woken up to what can be achieved collectively? Who knows it could be the start of something?
 
Not for the faint hearted I would reckon but could be worth a little flutter.
(Must have posted at the same time as the other thread as did a search and nothing came up)
 
Got in at 112.43 yesterday still holding it at the minute currently 328.

amc at 16 currently should go to 20

nokia stock also getting in on.
 
avacado said:
8 minutes later
Click to expand...
Probably took that long for me to type it.

If the smaller shareholders hold their nerve on these shares they could properly hurt the hedge funds. However it’s got to be difficult if you’re looking at decent gains not to think “sod it” and take a profit.
 
The Albanian said:
Group of firms short GameStop stock, basically hoping for the company to fail.

Members of subreddit r/WallStreetBets which has 2.8m members didn’t like that so worked to drive their stock price up and punish the firms profiting off businesses failing. 6 months ago $GME was trading at $4 per share. A week ago it was at $35. Last night it reached a high of $243.


Wall Street firms have lost billions - Melvin Capital have lost so much they needed a $3b bailout to avoid bankruptcy.

This In turn has lead to Wall Street to complain that the wrong people are manipulating the market, completely overlooking the fact they did it for profit for decades and brought the world to its knees in 2008.

Funny

marker.medium.com

The GameStop Fiasco Proves We’re in a ‘Meme Stock’ Bubble

What the new dynamic between Redditors and Wall Street reveals about the stock market in 2021
marker.medium.com marker.medium.com
Click to expand...
I don't know anything about trading but how would they push the share price up? Is it just a case of people buying shares? I watched the big short but to be honest didn't understand it!
 
mitty54 said:
Probably took that long for me to type it.

If the smaller shareholders hold their nerve on these shares they could properly hurt the hedge funds. However it’s got to be difficult if you’re looking at decent gains not to think “sod it” and take a profit.
Click to expand...
then they would be no better? although i can see the temptation
 

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