Correct me if I am wrong but Citron is basically hedging their bets that the price of gamestop will fall dramatically and go bankrupt. They short-sold, so they will by Gamestop shares at whatever price it is at in the future (they want them to fail). WSB, realizing this, is artifically pumping up gamestop to the point where Citron will have to buy a crap ton of super expensive shares making the reddit people very rich in the process. So it's a battle of who is more influential at manipulating the market. Tons of people are very pissed off about it and it's really funny
https://www.bloomberg.com/news/articles/2021-01-22/gamestop-tug-of-war-gives-reddit-army-a-win-on-record-volatility
When you sell a stock short, and it goes to $0, you make a profit of 100%. When you sell a stock short but it goes higher, your losses are potentially infinite
Thats whats so great, the entire economy can be completely broken by about 10,000 extremely dedicated sweaty gamers on reddit
This is definitely the system everyone should be relying on to be able to retire ever
Broke: lamenting that you didn’t buy bitcoin
Woke: lamenting that you didn’t buy GameStop stocks
that is the chance you run getting into a market on the way up enough for a unconnected person to hear about it. usually once I hear about a thing it is too late
this is good for exposing how fake and clownish the stock market is, therefore eventually destroying it like Trump did the presidency.
Also for hedge fund demons getting screwed over by redditors lel.
Everyone knows the market is irrational but bond yield is at like 0%.
There is nowhere else to put money right now.
The bourgeoisie of yesteryear becoming the aristocracy of the future, a tale as old as civilization.
There was an article not too long ago about how Bill Gates owns the most farmland in America.
WSB is pretty consistently toxic, ableist, and all around horrible but despite that I can't help checking them out from time to time too. I mean right now they have threads like this one or this one about that Citron thing.
It's not even the first time they've done shit like this and influenced, by themselves, whole stock prices.
it's idiots engaged in pure capitalist nihilism without illusions. they're almost as admirable as they are disgusting.
Fuck, that sea shanty is just absolute peak shitposting, I'm in awe lmao
i fucking love it. i don't like the wsb sub but banks and hedge funds have literally lost over a billion on gamestop already, and it probably is not over yet. you gotta admit actually organized memeing yourself into being rich is pretty funny. it made a president, why not this?
the funniest shit ever to me is the idea that redditors have an actual ounce of power in the stock market. Not to say they can't be completely fucking overshadowed by investment firms that want to wave their dicks around, because they have and can be at any time. It's moreso the thought that reddit's hivemind has grown so big that it's legit impacting real world things.
idk anything about the stock market, but I do know that is a massive point gain. I read this thread last night hoping it would put me to sleep (didn't) and found the whole drama typical but also rather comical https://www.reddit.com/r/SubredditDrama/comments/l2gfab/rwallstreetbets_set_to_private/
Yes but it's also the surest and least painful of saving up for retirement. Ideally we'd move past the need for index funds, but in the now it's not a bad idea.
It's still a racket. They take ~ 30% for early withdrawals. Plus a flat fee. If you know for a fact that you'll never need that money, then sure. Otherwise, you're just giving them money.
If you have an employer matching plan though, it's a different story. As your vested match usually will cover the fees so you aren't losing money you were paid of you have to pull out early.
pretty glad I was bored browsing reddit at 3 am last night and I was just sleep deprived enough to buy in a decent bit. I’m still in college so it’s not a lot, but hopefully it’s going to be a good bit of student loan payments and mutual aid if it can really get that high up. marx did day trading, money is fake anyway, and this whole thing is gonna screw some Wall Street snakes bad, so really it’s basically praxis. 💎🤲
Watching a thread full of reddit nerds intentionally fuck over insanely rich, slimy short sellers and potentially making a little bit of money doing it was a great way to end the week. Power to the players.
Im in on this. 1100$ to 7k so far. Should of dropped my savings into it.
Its not just Citron its Melvin capital that shorted the shit out of gme.
Lots of posts about destroying market makers(mms) and punishing them for trying to destory a company that provides jobs and childhood memories.
It has yet to squeeze yet. Monday is going to be insane
What do you think is next? People are memeing about AMC and BB but is that a similar situation or nah?
I'm already in on Bb. The dd (due diligence) makes sense to me and its getting momentum. It's the next meme once gme flames out.
AMC I don't know that's been pumped a few times.
Also I hate the markets. But my whole life I've had to work with in and maneuver through systems that where designed to hold me down, like many of us. So right now I'm just playing with in that system. I'd be fine if this whole gme thing got so big it tanked the whole market.
Just a quick edit. Bb won't be as big as gme. But it sill most likely double.
I want to see gamestop take over the world, have video game lobbyists in congress, I want to see healthcare given via power plus rewards membership. Its such good shit lmao
Where can I get the latest info on which stocks to meme and make a bit of money? I don't have too much money, but I can throw around like 500 dollars here and there once in awhile, just to play with the system a bit lmao
Wall steerts bet. It's really just about watching what starts to get mentioned the most. Like Bb (black Berry) is next it seems.
I'll try lurking there once in awhile then, might throw some money in BB then too just for the hell of it. Is GME still worth it to put some money on, or is it too late and the ship has sailed?
They're saying the real squeeze is going to be sometime on Monday, if you feel comfortable buying at ~70 a share you could probably snag some on opening if you wanted to and still get a pretty nice gain. Take it with a grain of salt and all, but a lot of people on WSB really think it’s going to hit 1k. Just make sure you’re watching it and set a decently high limit sell, and as always don’t spend anything you can’t afford to lose.
Imo yes. Gme has yet to see the shorts have to cover yet, the aqueeze on there side has joist started a bit. There also is not many avaliable stocks left to short. The volume of stocks being traded is getting very high. Those all indicate more up ward movement.
It could all come crashing down pretty fast to. If it plays out it will be a historic market event
Pltr seems more like sure bet but they’re shady as shit because they contracts with the intelligence community.
Bought in for $1k yesterday and I have another couple stacks I can drop. Think I should go in after open on Monday or what? Do you have a limit sell set?
I'm debating the same. If anything its just more money towards fucking over some wallst scum. If you need the money no. If it's just booze money up to you.
I have not figured out an exit point yet tbh. Vw went to 1k a stock. Gme is shorted like 10x more than vw was. I'm probably going to milk it for all its worth. Go till it starts to slide and than get out.
Did you just buy through RobinHood? Kinda wanna roll the dice, but don't wanna get screwed too hard.
I'm on robinhood you need bank info like routing and account number. And it can take a few days to activate your account.
I think it's going to 100 next week. There's plenty of dd on wsb right now several sticked threads. That explain the basics. Feel free to dm me if you have questions. This is going a bit long in this thread.
Imagine going broke because a line went down :stonks-down:
-7DeadlyFetishes
Maybe the fuckers at Citron will have enough store credit to buy a GameCube or something once it's all said and done.
