Redditors gave Wall Street traders an absolute pasting

[Wild Card]

I'll look out for it, looks like it could be turning around based on the change this week, hopefully doesn't further slump.

It was up 8pc yesterday, which is out of character. Although it's not uncommon to see that one day and then 3 consecutive days of minus 6% for no reason.

 

[Geppetto]

It was up 8pc yesterday, which is out of character. Although it's not uncommon to see that one day and then 3 consecutive days of minus 6% for no reason.

The problem is now it could be delisted with the value dropping so low.

The same's happened to Virgin Galactic and they're considering a reverse split which hasn't gone down well with shareholders by the sounds of things.

 

[Wild Card]

They have applied for the 183 day extension and then I think they can do it again?

There is always the reverse split which I don't like and was rejected by the shareholders.

There are some big institutions in, I'm hoping that they won't let it happen.

 

[PTR]

The problem is now it could be delisted with the value dropping so low.

The same's happened to Virgin Galactic and they're considering a reverse split which hasn't gone down well with shareholders by the sounds of things.

Gme can't be delisted.
They've put enough moment aside for buyback to prevent it hitting that level.

Don't forget, they are swimming in free cash.
To the point about $8 per share covers the actual free cash!

 

[BiffaBeercan]

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

 

[Edinburgh Black Cat]

Tell me about it. Bought into a company at $6 it has been shorted to 0.60. that is despite 8 straight earnings beats in a row. Has more cash in the bank than market value. Boils my piss. I think half the problem is it started as a spac and retail of about 55 to 60%.

When I first bought in the amount of shorted shares were about 5 million which was a small amount of the float, not it's around 50 million and it's about 14% of the float. I could understand if the company was missing earnings left right and centre. The last earning beat followed by a 30% drop in share price, it's mental.

It got to the point wall street decided who is going to win or lose regardless of the company, until the company reaches a point where they have to let it go.

It's not really mental. They make barely any profit, if any. And their price to earnings ratio is sky high.

 

[Wild Card]

It's not really mental. They make barely any profit, if any. And their price to earnings ratio is sky high.

I just don't think I have ever seen a 30% price drop on an earnings beat.

I hope they get walloped at some point. The borrowing charges are under 1%,sometimes in the minus, which leads me to believe it is someone with very deep pockets that is doing the shorting. No Johnny random would get them prices.. I think?

It's frustrating but ultimately doesn't change anything for me, I wouldn't be selling anywhere near these levels. Although I would be absolutely furious if they managed to force it to delist after 8 straight earning beats

 

[Geppetto]

Gme can't be delisted.
They've put enough moment aside for buyback to prevent it hitting that level.

Don't forget, they are swimming in free cash.
To the point about $8 per share covers the actual free cash!

I'm not talking about Gamestop mate.

 

[PTR]

I'm not talking about Gamestop mate.

I started to get that feeling at the time, no bother.

Gme jumped again on Friday fwiw.
I sold my $10 shares for $15.
Now I wait for them to be walked back down to 10 and buy again.

 

[legend7]

No, I knew it was high risk when I got in. The potential is there.

Andrew toy, googles chief technology office left Google to come and develop code for a virtual real time GPsericve with access to full medical history.. It's starting to work, has one of the best medical costs ratios around and is hiring people for a saas service. Will probs show profitability this qrt.

What's it called

 

[Wild Card]

What's it called

Clover health investments corp I think is the full name. Ticker is CLOV.

It's been an absolute bastard from as soon as I got in.

I broke my own rules when i went too heavy and then again when I said no more buying but the share price went to 0.61 and couldn't resist the opportunity to average down.

Will probably get shafted again if they reverse split to stay compliant.

When I said to myself, I was after a high risk high reward stock rather than my usual boring meagre gains and dividends I certainly got the former.

 

[legend7]

Clover health investments corp I think is the full name. Ticker is CLOV.

It's been an absolute bastard from as soon as I got in.

I broke my own rules when i went too heavy and then again when I said no more buying but the share price went to 0.61 and couldn't resist the opportunity to average down.

Will probably get shafted again if they reverse split to stay compliant.

When I said to myself, I was after a high risk high reward stock rather than my usual boring meagre gains and dividends I certainly got the former.

Ah I had a couple quid in them a few years ago actually. Very little though.

 

[Wild Card]

Ah I had a couple quid in them a few years ago actually. Very little though.

View attachment 15777

I was in a bit of profit with them at one point. But then they were relentlessly short attacked. Company also have not helped themselves at times but I think with profitability round the corner and a saas product almost ready, the tides surely have to change. Especially when there market value is less than the cash they have in the bank.

But then again, I don't know nowt when it comes to investments.

 

[legend7]

I was in a bit of profit with them at one point. But then they were relentlessly short attacked. Company also have not helped themselves at times but I think with profitability round the corner and a saas product almost ready, the tides surely have to change. Especially when there market value is less than the cash they have in the bank.

But then again, I don't know nowt when it comes to investments.

Me either.
Just ordered 30 quids worth ha ha

 

[Longcount]

I was in a bit of profit with them at one point. But then they were relentlessly short attacked. Company also have not helped themselves at times but I think with profitability round the corner and a saas product almost ready, the tides surely have to change. Especially when there market value is less than the cash they have in the bank.

But then again, I don't know nowt when it comes to investments.

Their short interest isn't that high at the moment. What is infinitely more damaging to their share price is that they were taking public via a SPAC by Palihapitiya.

With 'high risk' investments it's always worth having a 'cut your losses' price. Otherwise you end up just hoying money in to something out of optimism and searching for confirmation bias that it is still a good asset. Most have probably been burnt by emotional investing, but you'll have a lot more success if/when you can minimize it.

 

[Wild Card]

Their short interest isn't that high at the moment. What is infinitely more damaging to their share price is that they were taking public via a SPAC by Palihapitiya.

With 'high risk' investments it's always worth having a 'cut your losses' price. Otherwise you end up just hoying money in to something out of optimism and searching for confirmation bias that it is still a good asset. Most have probably been burnt by emotional investing, but you'll have a lot more success if/when you can minimize it.

Yeah agree with that, palihapitiya and his spacs can be toxic

Last time I looked short interest was about 13% would be a lot higher but upper management are paying a lot in shares out.

It's hard to gauge what is happening sometimes a lot of the transactions are going through dark pool.

Im in till the end now either way, I'm at peace with losing, I would be more bothered selling and then seeing it move up. After all they constantly producing earrings beats.

I shouldn't have bought more recently but i wanted my break even point lower.

 

[Edinburgh Black Cat]

I just don't think I have ever seen a 30% price drop on an earnings beat.

I hope they get walloped at some point. The borrowing charges are under 1%,sometimes in the minus, which leads me to believe it is someone with very deep pockets that is doing the shorting. No Johnny random would get them prices.. I think?

It's frustrating but ultimately doesn't change anything for me, I wouldn't be selling anywhere near these levels. Although I would be absolutely furious if they managed to force it to delist after 8 straight earning beats

With high p/e speculative stocks, the earnings beat sometimes means quite little short term. It's the qualitative commentary on outlook that has a bigger impact.

 

[Wild Card]

With high p/e speculative stocks, the earnings beat sometimes means quite little short term. It's the qualitative commentary on outlook that has a bigger impact.

Another banging earning beat last night coupled with a pledge for a share buy back. Hopefully that puts some pressure on the people shorting it and coves some conference to the holding institutions to buy more.

Their ai now has them at one of the best medical cost ratios and they are preparing for a saas subscription service.

Think it's their now 9th straight earning beat and they are still trading at less than cash in the bank value.

 

[Edinburgh Black Cat]

Another banging earning beat last night coupled with a pledge for a share buy back. Hopefully that puts some pressure on the people shorting it and coves some conference to the holding institutions to buy more.

Their ai now has them at one of the best medical cost ratios and they are preparing for a saas subscription service.

Think it's their now 9th straight earning beat and they are still trading at less than cash in the bank value.

Think we're talking different stocks. I was talking GME (and speculative stocks in general).

Who are you talking about?

 

[Wild Card]

Think we're talking different stocks. I was talking GME (and speculative stocks in general).

Who are you talking about?

Clover health. Been absolutely walloped recently with shorting and dark pool transactions.