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GME-ing the stonk market

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Posts

  • JragghenJragghen Registered User regular
    edited October 2021
    anyone who bought in above $420.69 was divorced from reality

    Let's be honest: meme stocks will not go much over meme prices.

    Jragghen on
  • Dark_SideDark_Side Registered User regular
    edited October 2021
    Retail investors took a bath too. I don't know to what degree, but lots of people were undoubtedly left holding the bag. Was it more than the hedge funds? Good question.

    Seems doubtful retail investors got hurt all that much, because if they had, the media directly in the pocket of the big funds -looking at you CNBC -would have been trumpeting it around for weeks, or would have been using that fact as a distraction when say....Reddit users caught Ken Griffin supposedly lying to congress.

    Honestly, it looked like the major players making and losing money on GME were whoever was doing all those dark pool trades and after hours dumps.


    Dark_Side on
  • thatassemblyguythatassemblyguy Janitor of Technical Debt .Registered User regular
    Jragghen wrote: »
    anyone who bought in above $420.69 was divorced from reality

    Let's be honest: meme stocks will not go much over meme prices.
    It's true. I haven't seen any go over $9000. It's impossible.

  • KoopahTroopahKoopahTroopah The koopas, the troopas. Philadelphia, PARegistered User regular
    edited October 2021
    Welp, news got leaked that Loopring is working on an NFT marketplace for GameStop. No one knows the exact use case yet.
    Loopring’s public GitHub repository has leaked code confirming GameStop’s highly speculated partnership with the Ethereum Layer 2 protocol.

    Loopring has disclosed a Q4 2021 launch and the partnership is keen on disrupting the $150B gaming industry.

    KoopahTroopah on
  • HefflingHeffling No Pic EverRegistered User regular
    I'm just waiting on Austin Powers 4, where Doctor Evil will hold the world hostage for ONE BITCOIN!

  • ForarForar #432 Toronto, Ontario, CanadaRegistered User regular
    Heffling wrote: »
    I'm just waiting on Austin Powers 4, where Doctor Evil will hold the world hostage for ONE BITCOIN!

    Only if across the movie it garners either mixed shock at one point, and then polite laughter at others, to an increasingly baffled Dr. Evil.

    First they came for the Muslims, and we said NOT TODAY, MOTHERFUCKER!
  • mrondeaumrondeau Montréal, CanadaRegistered User regular
    Forar wrote: »
    Heffling wrote: »
    I'm just waiting on Austin Powers 4, where Doctor Evil will hold the world hostage for ONE BITCOIN!

    Only if across the movie it garners either mixed shock at one point, and then polite laughter at others, to an increasingly baffled Dr. Evil.

    Ideally in the same conversation, with immediate transitions from one to the other after people look at their phone.

  • HappylilElfHappylilElf Registered User regular
    Heffling wrote: »
    I'm just waiting on Austin Powers 4, where Doctor Evil will hold the world hostage for ONE BITCOIN!

    No, admittance to the movie would be one NFT

    Dr. Evil would hold the world hostage for one Evilcoin which is a crypto he (well, his henchmen) created and because he didn't understand crypto, held the sole coin of

    That would be the joke that replaces "One million dollars"

    The film would revolve around Austin Power's kid patiently trying to explain to Dr. Evil why his demand made no sense.

    That explanation would last approximately 85 minutes, constituting the majority of the film's runtime, and would culminate with Dr. Evil demanding once again he be given an Evilcoin or he will destroy Earth and then subsequently destroying Earth.

    The post credits scene would be Mike Meyers slow shaking his head at the audience for paying money to see a film titled Austin Powers: Crypto is Bullshit and You're All Fucking Idiots.

  • RedTideRedTide Registered User regular
    Heffling wrote: »
    I'm just waiting on Austin Powers 4, where Doctor Evil will hold the world hostage for ONE BITCOIN!

    He asks for all the Bitcoin, gets it, and then everyone across the world realizes it wasn't worth anything to begin with and he's left penniless

    RedTide#1907 on Battle.net
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  • BurtletoyBurtletoy Registered User regular
    edited November 2021
    So, during discovery for the class action lawsuit against robinhood, a few conversations that seem to strongly imply coordination between robinhood/citadel during the GME and purchasing limits. No smoking gun exactly.



    Judd Legum is an independent journalist and you can read his newsletter or whatever a substack is.



    "[we] will be on a call with citadel.... We believe they will make some demands on limiting PFOF across the board"

    Burtletoy on
  • KoopahTroopahKoopahTroopah The koopas, the troopas. Philadelphia, PARegistered User regular
    edited November 2021
    Lawsuit was dismissed by the judge today.
    A Federal court dismissed a class action lawsuit by retail investors claiming Citadel Securities and Robinhood conspired to halt GameStop trading.

    "Admittedly, these emails may be somewhat suspicious given the participants and their timing," Chief US District Judge Cecilia Altonaga wrote. "But are a few vague and ambiguous emails between two firms in an otherwise lawful, ongoing business relationship enough to 'nudge [Plaintiffs'] claims across the line from conceivable to plausible[?]' The Court thinks not."

    KoopahTroopah on
  • AlphaRomeroAlphaRomero Registered User regular
    Sure there's smoke, and there's fire, but is the fire hot? I think not.

  • kimekime Queen of Blades Registered User regular
    Lawsuit was dismissed by the judge today.
    A Federal court dismissed a class action lawsuit by retail investors claiming Citadel Securities and Robinhood conspired to halt GameStop trading.

    "Admittedly, these emails may be somewhat suspicious given the participants and their timing," Chief US District Judge Cecilia Altonaga wrote. "But are a few vague and ambiguous emails between two firms in an otherwise lawful, ongoing business relationship enough to 'nudge [Plaintiffs'] claims across the line from conceivable to plausible[?]' The Court thinks not."

    It sure feels plausible enough to go to court, but OK sure yeah I bet it's fine.

    ............

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  • Martini_PhilosopherMartini_Philosopher Registered User regular
    Lawsuit was dismissed by the judge today.
    A Federal court dismissed a class action lawsuit by retail investors claiming Citadel Securities and Robinhood conspired to halt GameStop trading.

    "Admittedly, these emails may be somewhat suspicious given the participants and their timing," Chief US District Judge Cecilia Altonaga wrote. "But are a few vague and ambiguous emails between two firms in an otherwise lawful, ongoing business relationship enough to 'nudge [Plaintiffs'] claims across the line from conceivable to plausible[?]' The Court thinks not."

    Those are the words of a justice that has no stomach for the sorts of prolonged, hair-splitting battles this case was going to bring up. They want nothing to do with it and would rather it would go away. And seeing as they are the judge, they're trying to make it go away.

    All opinions are my own and in no way reflect that of my employer.
  • KoopahTroopahKoopahTroopah The koopas, the troopas. Philadelphia, PARegistered User regular
    edited December 2021
    GME Q3-2021 Financial Results.
    Highlights
    • Net sales were $1.297 billion for the quarter, compared to $1.005 billion in the prior year’s third quarter.
    • Sales attributable to new and expanded brand relationships, such as Samsung, LG, Razer, Vizio and others, contributed to the Company's growth in the quarter.
    • Inventory was $1.141 billion at the close of the quarter, compared to $861 million at the close of the prior year’s third quarter, reflecting the Company’s focus on front-loading investments in inventory to meet increased customer demand and mitigate supply chain issues.
    • Ended the period with cash and cash equivalents of $1.413 billion as well as no debt other than a $46.2 million low-interest, unsecured term loan associated with the French government’s response to COVID-19.
    • Established new offices in Seattle, Washington and Boston, Massachusetts, which are technology hubs with established talent markets.
    • Secured a new $500 million ABL facility, which closed in November just after the end of the third quarter, with improved liquidity and terms, including reduced borrowing costs, lighter covenants and additional flexibility.

    Edit - More interesting things of note:
    We may face enhanced risks as new business initiatives lead us to engage in new activities.

    We are pursuing, and expect to continue to pursue, business and strategic initiatives, some of which may expose us to new or enhanced risks. For example, we are exploring opportunities in blockchain, NFT, and Web 3.0 technology.

    As of October 30, 2021, 5.2 million shares of our Class A common stock were directly registered with our transfer agent, ComputerShare.

    KoopahTroopah on
  • KoopahTroopahKoopahTroopah The koopas, the troopas. Philadelphia, PARegistered User regular
    So uh, been awhile, but I've been keeping up on it and feel like an update is probably around the corner. Honestly not a lot has happened, but this past week GME saw some weird spikes in the price (yet again) followed by several halts from price action increasing too fast. This has been followed by the usual slow down trend to around ~$100 USD. Right now GME is around ~$93 following a steady up/down +10/-10 price action, and investors are expecting something big coming soon either via the launch of GameStop's NFT/Crypto space, or from a stock split pending the annual shareholder meeting in June.

    In the mean time, investor hedgefund Melvin Capital (known for being one of the shorts of GameStop during the January 21 event) is officially closing their doors to restructure as a different hedge fund.
    Bloomberg - Melvin Capital Management, the once high-flying hedge fund that lost billions of dollars after its bearish wagers were caught up in a Reddit-fueled rally, told investors that it plans to wind down funds and return cash to investors.

    I imagine with the whole world on fire, GME will continue to step back, but I don't think we're done seeing news like this.

  • KoopahTroopahKoopahTroopah The koopas, the troopas. Philadelphia, PARegistered User regular
    edited July 2022
    Back again everyone. GameStop finally released their NFT marketplace into public beta with the launch of 250+ exclusive artists and creators. It broke around $1m USD volume this morning (about 9 hours after launch) which compared to OpenSea or Magic Eden, is close to a top 3 marketplace in the existing space. Just beta testing with pictures, gifs, and 3D assets. No premiere partners announced yet, and no IMX gaming yet.

    How does this reflect in the stock? Well...
    ex2y6fjfqy2d.png
    Kind of a mixed bag so far. GME has been pinned to $130 since about a week after my last update in May. Reddit sentiment is extremely excited about the launch, but disappointed in that this is a beta without games or other assets besides the typical NFT space so far. Twitter from what I've seen is kind of 'Now what?', and still (irrationally IMO) comparing AMC price movement to GME. Ryan Cohen (GME Chairman) however, is gloating to MSM, which seems out of character.

    Also something worth note of GME, is the announcement of a 4-1 Stock Dividend split. This is a little different than a regular stock split in that GME will issue 3 shares for every 1 share an investor owns, instead of splitting the shares that already existed. For regular Joe, this makes no difference, investors get 4x as many shares, and the price will be divided by 4 after the 21st of July. However, apparently it is different in the fine print for the shorts, as they'll have to pay for the dividend and come up with more shares somehow. Ken Griffin from Citadel (big GME short) is also moving his headquarters to Florida, which seems kind of awkward timing and I would think is to dodge Chicago politicians and taxes.
    Billionaire Ken Griffin is relocating his big hedge-fund firm Citadel from Chicago to Miami, the third major employer to announce the move of a corporate headquarters from Illinois in the past two months.

    In a letter to employees Thursday that was viewed by the Wall Street Journal, Griffin said he had personally moved to Florida and that his market-making business, Citadel Securities, would also transfer. He wrote that he views Florida as a better corporate environment and though he didn’t specifically cite crime as a factor, company officials said it was a consideration.

    Griffin is the wealthiest resident of Illinois, so his departure will hurt state tax collections on both the individual and corporate side. Griffin has an estimated worth of $28.9 billion and is among the world’s top 50 wealthiest, according to the Bloomberg Billionaires Index.

    I'll probably be back to update again after the split to check on the stock and see if something of note happens.

    KoopahTroopah on
  • SimpsoniaSimpsonia Registered User regular
    edited July 2022
    The Griffin news is unrelated to GME, but is filled with delicious schadenfreud. He just got so mad that he sunk $50M to try and buy the IL GOP primary for Governor and install his puppet Irvin, and got blown out of the water by JB's (current Gov) hilarious tactic. JB started blasting TV with attack ads blasting another GOP candidate (Bailey) for being too extreme and Trump-like, but specifically only targeted them in downstate, rural areas. The tactic worked wonders and got all of the downstaters to frothing at the mouth to vote for Bailey over Irvin.

    Simpsonia on
  • KoopahTroopahKoopahTroopah The koopas, the troopas. Philadelphia, PARegistered User regular
    Simpsonia wrote: »
    The Griffin news is unrelated to GME, but is filled with delicious schadenfreud. He just got so mad that he sunk $50M to try and buy the IL GOP primary for Governor and install his puppet Irvin, and got blown out of the water by JB's (current Gov) hilarious tactic. JB started blasting TV with attack ads blasting another GOP candidate (Bailey) for being too extreme and Trump-like, but specifically only targeted them in downstate, rural areas. The tactic worked wonders and got all of the downstaters to frothing at the mouth to vote for Bailey over Irvin.

    Thanks for the clarification! Only mildly understood what was going on and thought it weird/note-worthy.

  • WhelkWhelk Registered User regular
    Hey Koopah, what platform are you using in the screenshot of that chart?

  • KoopahTroopahKoopahTroopah The koopas, the troopas. Philadelphia, PARegistered User regular
    edited July 2022
    Whelk wrote: »
    Hey Koopah, what platform are you using in the screenshot of that chart?

    @Whelk It's WeBull. I don't recommend for trading :blush:, but it's the easiest to read for me.

    KoopahTroopah on
  • HefflingHeffling No Pic EverRegistered User regular
    That's the easy to read version? Do the others just outright stab you in the eye?

  • zekebeauzekebeau Registered User regular
    Heffling wrote: »
    That's the easy to read version? Do the others just outright stab you in the eye?

    Yes. That's why it's so hard to find good investments.

  • JragghenJragghen Registered User regular
    Whelk wrote: »
    Hey Koopah, what platform are you using in the screenshot of that chart?

    @Whelk It's WeBull. I don't recommend for trading :blush:, but it's the easiest to read for me.

    weeblbob_9691.png

  • WhelkWhelk Registered User regular
    Whelk wrote: »
    Hey Koopah, what platform are you using in the screenshot of that chart?

    @Whelk It's WeBull. I don't recommend for trading :blush:, but it's the easiest to read for me.

    Thanks! I work for TDA/Schwab, and it's interesting to see other platforms. I like TOS a lot, but I am sure there are places it could improve.

  • AbsoluteZeroAbsoluteZero The new film by Quentin Koopantino Registered User regular
    I made the mistake of looking at my 401k today. Holy crap.

    I think I'm going to try to not look at that again for like 5 years.

    cs6f034fsffl.jpg
  • DoodmannDoodmann Registered User regular
    I made the mistake of looking at my 401k today. Holy crap.

    I think I'm going to try to not look at that again for like 5 years.

    Now is a good time to up your contribution if you have the bandwidth.

    Whippy wrote: »
    nope nope nope nope abort abort talk about anime
    Sometimes I sell my stuff on Ebay
  • EinzelEinzel Registered User regular
    I made the mistake of looking at my 401k today. Holy crap.

    I think I'm going to try to not look at that again for like 5 years.

    Good news is it looks like the heavy bleeding has stopped for a bit. I'm not personally ready to jump back in from cash/bonds, but it's getting more tempting.

  • KoopahTroopahKoopahTroopah The koopas, the troopas. Philadelphia, PARegistered User regular
    edited July 2022
    Einzel wrote: »
    I made the mistake of looking at my 401k today. Holy crap.

    I think I'm going to try to not look at that again for like 5 years.

    Good news is it looks like the heavy bleeding has stopped for a bit. I'm not personally ready to jump back in from cash/bonds, but it's getting more tempting.

    Inflation reports just came out for June and it's just more bad. I don't think we're at the bottom of the market yet.
    Whelk wrote: »
    Whelk wrote: »
    Hey Koopah, what platform are you using in the screenshot of that chart?

    Whelk It's WeBull. I don't recommend for trading :blush:, but it's the easiest to read for me.

    Thanks! I work for TDA/Schwab, and it's interesting to see other platforms. I like TOS a lot, but I am sure there are places it could improve.

    ToS is really cool! Super strong tool with tons of available functions and graphing options, but sometimes I get overwhelmed by it all. That's more or less a byproduct of stock markets rather than the tool itself. The whole market is intentionally confusing with all of the data.

    KoopahTroopah on
  • JragghenJragghen Registered User regular
    I made the mistake of looking at my 401k today. Holy crap.

    I think I'm going to try to not look at that again for like 5 years.

    I stick all my stuff into YNAB twice a month so yeah, it's been a fun roller coaster.

  • ZavianZavian universal peace sounds better than forever war Registered User regular
  • ShadowfireShadowfire Vermont, in the middle of nowhereRegistered User regular
    I suppose it will be too much to ask that the big names on WSB are also called out as assholes?

    WiiU: Windrunner ; Guild Wars 2: Shadowfire.3940 ; PSN: Bradcopter
  • KoopahTroopahKoopahTroopah The koopas, the troopas. Philadelphia, PARegistered User regular
    Man with the beard is Attobit, a big due diligence writer on the sub-reddits. Surprised to see him front and center in the trailer.

    Interested to see the take on what I think is like the 3rd or 4th documentary on this? I wonder if they'll actually leave it opened ended or try to say it's definitively over in this one.

  • DisruptedCapitalistDisruptedCapitalist I swear! Registered User regular
    "The House always wins if you're unprepared!"

    no no no, that's not how the saying goes... It's

    "The House always wins." full stop.

    "Simple, real stupidity beats artificial intelligence every time." -Mustrum Ridcully in Terry Pratchett's Hogfather p. 142 (HarperPrism 1996)
  • SchrodingerSchrodinger Registered User regular
    "The House always wins if you're unprepared!"

    no no no, that's not how the saying goes... It's

    "The House always wins." full stop.

    "Perpetual motion machines violate the laws of thermodynamics if you're unprepared!"

  • PreacherPreacher Registered User regular
    The house loves people like that. The easiest mark in the world is the person who thinks he's figured out the game.

    I would like some money because these are artisanal nuggets of wisdom philistine.

    pleasepaypreacher.net
  • PolaritiePolaritie Sleepy Registered User regular
    "The House always wins if you're unprepared!"

    no no no, that's not how the saying goes... It's

    "The House always wins." full stop.

    Anyone who can actually beat the house just gets kicked out after all. Of course that basically can't happen at anything but blackjack afaik.

    Steam: Polaritie
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  • DoodmannDoodmann Registered User regular
    Polaritie wrote: »
    "The House always wins if you're unprepared!"

    no no no, that's not how the saying goes... It's

    "The House always wins." full stop.

    Anyone who can actually beat the house just gets kicked out after all. Of course that basically can't happen at anything but blackjack afaik.

    And essentially what happened with GME during that initial pump.

    Whippy wrote: »
    nope nope nope nope abort abort talk about anime
    Sometimes I sell my stuff on Ebay
  • Dark_SideDark_Side Registered User regular
    edited September 2022
    Doodmann wrote: »
    Polaritie wrote: »
    "The House always wins if you're unprepared!"

    no no no, that's not how the saying goes... It's

    "The House always wins." full stop.

    Anyone who can actually beat the house just gets kicked out after all. Of course that basically can't happen at anything but blackjack afaik.

    And essentially what happened with GME during that initial pump.

    That's the big joke in all this. They all think if they hold and direct register their shares the shorts will crumble and it will all come down. I'll admit I even felt that way at the beginning. But it's become incredibly obvious the system will ensure the shorts (at least most of them) all survive, and if they can't do that, will make damn sure the retail investors never get paid. The hedge funds don't have to play by the rules.

    Edit: Also I think they already dealt with the most serious liabilities by trading in dark pools amongst themselves.

    Dark_Side on
  • ButtersButters A glass of some milks Registered User regular
    The house always wins unless you have a Boesky, a Jim Brown, a Miss Daisy, two Jethros and a Leon Spinks, not to mention the biggest Ella Fitzgerald ever.

    PSN: idontworkhere582 | CFN: idontworkhere | Steam: lordbutters | Amazon Wishlist
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