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Posted: 1/27/2021 2:15:58 PM EDT
[#1]
Quote HistoryQuoted: I get the mechanics, but how did the Reddit guys determine that a stock is being floated 140%? Is that something you can determine with public info, or is there internal knowledge of the shorting? |
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Posted: 1/27/2021 2:17:40 PM EDT
[#2]
Quote HistoryQuoted: I get the mechanics, but how did the Reddit guys determine that a stock is being floated 140%? Is that something you can determine with public info, or is there internal knowledge of the shorting? |
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Posted: 1/27/2021 2:18:44 PM EDT
[#3]
Not to highjack the thread, but Fuck Pelosi!
Bitch knew Biden would drive shares up! Tesla shares have risen from $640.34 at the time the calls were purchased to over $890 today. The call options were valued at $1.12 million as of Monday. Related Link: How The 2020 Presidential Election Could Impact EV, Auto Stocks Why It’s Important: The purchases by Pelosi are questionable as arguments could be made that the companies stand to benefit from new President Joe Biden’s agenda. Biden's push for electric vehicles, which could include lifting the cap on sales, would give buyers tax credits again and is advantageous for Tesla. The president has also suggested a possible cash-for-clunkers program that could incentivize customers for trading in used vehicles towards the purchase of an electric vehicle. Pelosi could now have a conflict as she works to pass clean energy initiatives from which her family could profit. Former U.S. Senator David Perdue, a Republican, was criticized for making numerous stock trades during his six years in Congress. Perdue was the most prominent stock trader from Congress, making 2,596 trades during his time served. Some of Perdue’s transactions came while he was a member of several sub-committees. The Justice Department investigated Perdue and found no wrongdoing. What’s Next: It's legal for members of Congress and their spouses to own stocks. The transactions have to be disclosed per the STOCK (Stop Trading on Congressional Knowledge) Act that was passed in 2012. U.S. Senator Jeff Merkley of Oregon is one member of Congress who has co-sponsored legislation to ban the adding of individual stocks by members of Congress. Both Merkley and Pelosi are Democrats. Pelosi’s transactions could push for more regulations concerning stock purchases by members of Congress. |
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Posted: 1/27/2021 2:19:47 PM EDT
[#4]
Quote HistoryQuoted: They created stocks out of thin air?  Quote HistoryQuoted: Quoted: Quoted: But that costs extra money and eats into profit! Who would do such a thing?  I still think that the original market manipulation was shorting GME into oblivion during the past two years. They got caught being too dumb and too greedy using the same strategy, with no hedge to escape that position. I can see the litigation printer going brrr on derivative actions as we speak. They created stocks out of thin air? A lot of people sell things that they don't actually possess. Imagine you buy something online. That reseller might not even have the product on hand. So they order it from someone else. If you look strictly at sales, it appears two of those objects have been sold even though only one has been sold. I'm guessing it's the same principle at play here. Here is what makes this situation unique - and explains why AMC and NOK aren't going to succeed (at least - not for the same reasons). 1. There aren't enough outstanding shares to cover all of the GME shorts. 2. GME has 70M shares outstanding. That is a relatively small number of shares. 3. GME share price was in the tank. Given those three conditions, it doesn't take much to basically hold the short sellers hostage by buying up enough shares to make it impossible to cover their shorts elsewhere. NOK and AMC don't have the same issues. They aren't over-shorted by nearly as much and there are far more outstanding shares than a bunch of people on Reddit are going to buy. They may generate enough interest to drive the price up for a short while but short sellers aren't at any real risk. Retail investors would need to buy 5x the number of shares to dry up the AMC market and 50x the shares to dry up the NOK market. |
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Posted: 1/27/2021 2:20:05 PM EDT
[#5]
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Posted: 1/27/2021 2:21:26 PM EDT
[#6]
Stonks
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Posted: 1/27/2021 2:22:53 PM EDT
[#7]
Maybe this is a dumb question.....but why did it take so long for people to start doing this? If you know what you are doing, it sounds like a quick way to make big money.
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Posted: 1/27/2021 2:23:47 PM EDT
[#8]
I want AMC to go to the moon. I bought it at $3.10 a share.
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Posted: 1/27/2021 2:28:22 PM EDT
[#9]
Quote HistoryQuoted: Supposedly AMC is a red herring the hedge fund people are trying to make look like the next GameStop. I see Blackberry and Nokia talked about as next targets on the Reddit page but most of the top stocks on the High Short link provided here have already jumped up. I bought some BB and NOK. ETA: iRobot is way up after doing nothing for years. I was going to buy it in the 60's last year but the chats said they had no new tech. Damnit. It is at $150! FFS I saw some comments saying to hold on selling GME. Switch to BB when the wave crests. I bought the Feb. 26 $40 calls with play money. Fingers crossed... |
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Posted: 1/27/2021 2:30:20 PM EDT
[#10]
Quote HistoryQuoted: Maybe this is a dumb question.....but why did it take so long for people to start doing this? If you know what you are doing, it sounds like a quick way to make big money. It happened but you had to have a lot of money to do it. Big Boys v Big Boys, though I think it happens in the pink sheets all the time. This is new because its done by a bunch of randoms at scale by working together by way of the internet. |
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Posted: 1/27/2021 2:31:45 PM EDT
[#11]
Quote HistoryQuoted: They created stocks out of thin air? Quote HistoryQuoted: Quoted: Quoted: But that costs extra money and eats into profit! Who would do such a thing? I still think that the original market manipulation was shorting GME into oblivion during the past two years. They got caught being too dumb and too greedy using the same strategy, with no hedge to escape that position. I can see the litigation printer going brrr on derivative actions as we speak. They created stocks out of thin air? No, they made agreements to sell stock that they don't own yet. |
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Posted: 1/27/2021 2:32:35 PM EDT
[#12]
Quote HistoryQuoted: It happened but you had to have a lot of money to do it. Big Boys v Big Boys, though I think it happens in the pink sheets all the time. This is new because its done by a bunch of randoms at scale by working together by way of the internet. This is just a "crowd sourced" squeeze by retail investors. Pretty clever, really. |
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Posted: 1/27/2021 2:36:59 PM EDT
[#13]
Quote HistoryQuoted: I saw some comments saying to hold on selling GME. Switch to BB when the wave crests. I bought the Feb. 26 $40 calls with play money. Fingers crossed... |
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Posted: 1/27/2021 2:38:55 PM EDT
[#14]
Quote HistoryQuoted: No, they made agreements to sell stock that they don't own yet. Quote HistoryQuoted: Quoted: Quoted: Quoted: But that costs extra money and eats into profit! Who would do such a thing? I still think that the original market manipulation was shorting GME into oblivion during the past two years. They got caught being too dumb and too greedy using the same strategy, with no hedge to escape that position. I can see the litigation printer going brrr on derivative actions as we speak. They created stocks out of thin air? No, they made agreements to sell stock that they don't own yet. So someone paid for stock they never took delivery of?  Edit: Is that the "naked short selling" I keep hearing about? |
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Posted: 1/27/2021 2:41:14 PM EDT
[#15]
Quote HistoryQuoted: They created stocks out of thin air? Quote HistoryQuoted: Quoted: Quoted: But that costs extra money and eats into profit! Who would do such a thing? I still think that the original market manipulation was shorting GME into oblivion during the past two years. They got caught being too dumb and too greedy using the same strategy, with no hedge to escape that position. I can see the litigation printer going brrr on derivative actions as we speak. They created stocks out of thin air? No, but short interest can be > 100% of float. Here's how it works. Let's suppose there are 100 shares outstanding and held at prime broker. Hedge fund A borrows 60 of them (60% of float) and sells to a prime broker. Short interest is 60%, and 100 shares available. Hedge fund B borrows 50 shares (50% of float) and sells them. Total short interest at this time is 110%. Unusual, but can h appen. One thing I don't know is if the naked calls count against short interest. The hedge funds in question reportedly had a huge naked call position, which is functionally like shorting. If that doesn't show up in the short interest calculation, it means things could be exponentially worse |
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Posted: 1/27/2021 2:44:29 PM EDT
[#16]
I hope to Christ these souless fucking harpies loss their asses. 
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Posted: 1/27/2021 2:46:38 PM EDT
[#17]
Quote HistoryQuoted: haha....this is really awesome. Normally institutional investing always fucked the retail investor. Now the retail investors are fucking the institutions. What a time to be alive! ^This! |
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Posted: 1/27/2021 2:51:11 PM EDT
[#18]
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Posted: 1/27/2021 2:53:04 PM EDT
[#19]
Quote History |
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Posted: 1/27/2021 2:56:34 PM EDT
[#20]
Quote HistoryQuoted: Supposedly AMC is a red herring the hedge fund people are trying to make look like the next GameStop. I see Blackberry and Nokia talked about as next targets on the Reddit page but most of the top stocks on the High Short link provided here have already jumped up. I bought some BB and NOK. ETA: iRobot is way up after doing nothing for years. I was going to buy it in the 60's last year but the chats said they had no new tech. Damnit. It is at $150! FFS If I was a hedge fund that had shorted AMC I would be pushing this rumor. They have a lot to lose |
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Posted: 1/27/2021 2:56:45 PM EDT
[#21]
Quote HistoryQuoted: Oh they're going to be fucking demonized. They're already getting called Nazis and financial terrorists. The normies will eat that shit up too and come away thinking wall street's the good guy.  Attached File |
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Posted: 1/27/2021 2:59:46 PM EDT
[#22]
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Posted: 1/27/2021 3:00:43 PM EDT
[#23]
Quote HistoryQuoted: So someone paid for stock they never took delivery of? Edit: Is that the "naked short selling" I keep hearing about? Quote HistoryQuoted: Quoted: Quoted: Quoted: Quoted: But that costs extra money and eats into profit! Who would do such a thing? I still think that the original market manipulation was shorting GME into oblivion during the past two years. They got caught being too dumb and too greedy using the same strategy, with no hedge to escape that position. I can see the litigation printer going brrr on derivative actions as we speak. They created stocks out of thin air? No, they made agreements to sell stock that they don't own yet. So someone paid for stock they never took delivery of? Edit: Is that the "naked short selling" I keep hearing about? No, someone agreed to sell stock that they don't own yet; and yes, that is naked short selling. Stock is at $10. Neither you nor I own any stock. I agree to sell you 100 shares of stock at $9 per share next Wednesday. I'm hoping I can buy 100 shares at $8 per share or less before Wednesday. |
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Posted: 1/27/2021 3:00:51 PM EDT
[#24]
Quote HistoryQuoted: They all say hold and lots of bots saying to buy NOK, but who knows. I bought some NOK but only 100 shares. GME is definitely too risky and high priced for my risk tolerance. I bought 50 shares of BB but still missed most of the gains from today. Still, these 2 stocks and some I already owned like SRNE kept me in the black even with the big hit the market took. Timing when to sell things will be the real challenge. I missed out by selling MVIS early but I kept half of my shares so I still have a decent profit. If something jumps up a huge amount it's very hard to not sell. At least by selling half you can still take profit. Quote HistoryQuoted: Quoted: I saw some comments saying to hold on selling GME. Switch to BB when the wave crests. I bought the Feb. 26 $40 calls with play money. Fingers crossed... I bought the BB calls about an hour ago... Now up @40% Quick, someone calculate my ARR. At this rate, I'll retire by the spring. This is not financial advice... |
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Posted: 1/27/2021 3:04:50 PM EDT
[#25]
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Posted: 1/27/2021 3:06:16 PM EDT
[#26]
Quote HistoryLooks like a donor to the party is being affected. |
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Posted: 1/27/2021 3:07:40 PM EDT
[#27]
Quote HistoryQuoted: Looks like a donor to the party is being affected. How sweet would it be if "the big guy" had all of his money tied up in this shit and loses all of it. 
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Posted: 1/27/2021 3:13:00 PM EDT
[#28]
Quote HistoryQuoted: How sweet would it be if "the big guy" had all of his money tied up in this shit and loses all of it. You are on to something.....using social media to bankrupt politicians. It would be hilarious questioning during press briefings "Mr Biden, why are you concerned? Are you not divested from it?" |
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Posted: 1/27/2021 3:14:40 PM EDT
[#29]
Probably unrelated, but reddit isn't working for me at the moment.
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Posted: 1/27/2021 3:16:27 PM EDT
[#30]
I'm in on amc today , there's a new rifle I want. Hopefully up another 100% tomorrow.
If not cheaper than vegas |
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Posted: 1/27/2021 3:17:49 PM EDT
[#31]
people are using the credit cards to get in on this, not going to end well
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Posted: 1/27/2021 3:19:07 PM EDT
[#32]
Quote HistoryQuoted: people are using the credit cards to get in on this, not going to end well fuuuuck that noise. I didn't even realize that was possible I guess |
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Posted: 1/27/2021 3:20:33 PM EDT
[#33]
I bought 6,000 shares last week before the short squeeze started. But it went down a dollar and I flinched and sold it all.
That's the story of my life. |
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Posted: 1/27/2021 3:20:40 PM EDT
[#34]
 The Tendieman - r/wallstreetbets Wellerman Sea Shanty Cover |
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Posted: 1/27/2021 3:21:44 PM EDT
[#35]
Quote HistoryQuoted: I bought 6,000 shares last week before the short squeeze started. But it went down a dollar and I flinched and sold it all. That's the story of my life. Oh wait... 
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Posted: 1/27/2021 3:22:17 PM EDT
[#36]
Quote HistoryQuoted: I saw some comments saying to hold on selling GME. Switch to BB when the wave crests. I bought the Feb. 26 $40 calls with play money. Fingers crossed... I went the other direction and bought puts on GME, BB, BBBY, EXPR, NOK, and AMC. All are currently up between 20-100% with between 50-141 days to exp. Let's hope this fun pays on both ends. |
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Posted: 1/27/2021 3:24:16 PM EDT
[#37]
Quote HistoryQuoted: So someone paid for stock they never took delivery of? Edit: Is that the "naked short selling" I keep hearing about? Not related to this GME thing but about the corruption of banks and Wall Street and your seeming shock at it suggest to take a look at this ; Search re-hypothecation  Failed To Load Title Selling shit they don't have is baby stuff. They don't just do it once. There is no limit to how many times they can do it. That is called hyper re-hypothecation, derivative stuff. I barely understand it but know it is pure crime and allowed by governments. |
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Posted: 1/27/2021 3:24:59 PM EDT
[#38]
Trivago is up almost 90% today as well TRVG
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Posted: 1/27/2021 3:25:09 PM EDT
[#39]
r/wallstreetbets is empty on Reddit.
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Posted: 1/27/2021 3:26:27 PM EDT
[#40]
Tried to sell my amc and my sell is being blocked
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Posted: 1/27/2021 3:27:43 PM EDT
[#41]
AMC will Moon next.
fingers crossed
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Posted: 1/27/2021 3:28:36 PM EDT
[#42]
Robin hood works to buy I'm hearing
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Posted: 1/27/2021 3:28:42 PM EDT
[#43]
Quote HistoryQuoted: Tried to sell my amc and my sell is being blocked Ah the old "heads we win, tails you loose". Classic! |
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Posted: 1/27/2021 3:28:49 PM EDT
[#44]
If this doesn't convince people the market is just I giant ponzi scheme I don't know what will.
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Posted: 1/27/2021 3:28:54 PM EDT
[#45]
Quote HistoryQuoted: They created stocks out of thin air? welcome to how wall street has been rigging the game |
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Posted: 1/27/2021 3:29:58 PM EDT
[#46]
Quote HistoryQuoted: Tried to sell my amc and my sell is being blocked What brokerage? |
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Posted: 1/27/2021 3:30:17 PM EDT
[#47]
Quote HistoryQuoted: If you use TD Ameritrade, it shows you the short interest on the stock quote page, so I imagine it's widely available info. Quote HistoryQuoted: Quoted: I get the mechanics, but how did the Reddit guys determine that a stock is being floated 140%? Is that something you can determine with public info, or is there internal knowledge of the shorting? Thanks- fascinating stuff afoot. I am going to continue to try to understand it, and how to read balance sheets. All of my investments are long term, low risk and fairly decent yield but I do have some side cash so I'll start educating myself. I do have an account w/ one firm that can do trades for my stock option plan. |
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Posted: 1/27/2021 3:31:46 PM EDT
[#48]
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Posted: 1/27/2021 3:34:56 PM EDT
[#49]
My NOK is up 47% since I bought this AM.
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Posted: 1/27/2021 3:35:49 PM EDT
[#50]
Quote HistoryQuoted: What brokerage? Robinhood |
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