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01-26-2021, 11:16 PM | #6781 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Posts: 57,431
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01-27-2021, 07:34 AM | #6782 |
I'll be back.
Join Date: Nov 2002
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Posts: 283,513
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01-27-2021, 08:33 AM | #6783 |
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Join Date: Jan 2009
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Posts: 64,005
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01-27-2021, 09:03 AM | #6784 |
MONTANA #19
Join Date: Mar 2005
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Someone might have to clarify, but the way I understand it, the hedge fund Melvin Capital was a deep short seller of GameStop. A bunch of kids from reddit with day trading accounts then proceeded to short squeeze the stock and in effect, nearly bankrupt a $14 billion hedge fund in the process. The Mets new owner tried to bail it out yesterday with a $2.7 billion infusion, but that went "poof" in a matter of hours. It's a little double edged because there were probably everyday joe's that had their retirements tied up in that fund, but on the flip-side that was super unethical of the fund manager for tying the bulk of their funds up in short sells....did I get the gist of it?
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Posts: 4,278
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01-27-2021, 09:03 AM | #6785 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
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This is the beginning of the end of this long Market Rally
Look for a 20% retrenchment |
Posts: 51,495
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01-27-2021, 09:16 AM | #6786 |
Just a li'l Evel
Join Date: Sep 2005
Location: Bald. Goatee. Jorts.
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PLUG touched $75 yesterday and opened at 65 today after they announced an issue of common shares at that price. They did the same at $25 about two months ago. Room to grow? I bet it gets up to100 by March if there’s no massive market adjustment. Thoughts?
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Posts: 11,872
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01-27-2021, 09:18 AM | #6787 |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
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Is short selling in general frowned upon or is it more about Gamestop nostalgia and big money funds betting against it?
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Posts: 34,632
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01-27-2021, 09:25 AM | #6788 | ||
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
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Quote:
Quote:
From what I can tell, this situation is much more about gaming the system and "sticking it to the man" than about Gamestop itself. |
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Posts: 52,165
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01-27-2021, 10:02 AM | #6789 |
Just a li'l Evel
Join Date: Sep 2005
Location: Bald. Goatee. Jorts.
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This guy does a good job of explaining shorts, short squeeze, naked shorting and what’s happening with GameStop
https://youtu.be/LSamMiig7-g |
Posts: 11,872
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01-27-2021, 10:05 AM | #6790 |
2 Legit 2 Colquitt
Join Date: Sep 2010
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Anybody else hopping on the GME train?
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Posts: 4,742
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01-27-2021, 10:06 AM | #6791 |
He's Mahomie!
Join Date: Aug 2001
Location: Jax, FL
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I'm cashing out an entire account to buy a rental property. 2.87% interest is free money.
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Posts: 17,387
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01-27-2021, 10:22 AM | #6792 |
Andy Reid Supporter
Join Date: Apr 2012
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Airbnb up over 9% today and up 45% since their IPO last month. Man what a great buy!
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Posts: 46,943
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01-27-2021, 10:39 AM | #6793 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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I wouldn't buy that stock with a 20-foot pole right now. In fact, I might buy stock in a company that makes 20-foot poles since a lot of people will need those to keep the proper distance from GME.
That's pretty much the definition of a bubble, right? I'm not reading in detail about it, but on the surface it seems like people are bidding the stock up past its real value just to stick it to a hedge fund. It will eventually re-center on its real value. |
Posts: 142,195
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01-27-2021, 10:39 AM | #6794 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
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Almost debated it, but it really is a "wall street bet." At some point it'll crash hard, so you're just trying to time it to not be one of the people who loses their ass. You could easily quadruple your money today or lose 90% of it.
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Posts: 52,165
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01-27-2021, 10:41 AM | #6795 | |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
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Quote:
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Posts: 52,165
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