Quote:
Originally Posted by Edward64
I'm glad Gamestop seems to be winding down, it just made a lot of noise in the markets. I hope whoever bought it here made a profit.
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Idk if it's winding down or being short ladder attacked - the volume numbers are an order of magnitude off what they were when the stock was going up, the publicly available buy/sell spreads are still heavily on the buy side, and a lot of retail $$$ will re-enter the market when people who pulled money out of Robin Hood get it cleared at new brokerages (Fidelity is a huge winner here...) - there's at least another spike or two coming.
This week is my first one not working 60 hours since November, so I dove down the rabbit hole, and it's pretty interesting. The media led by CNBC are pushing a completely false narrative that WSB switched to Silver, WSB is 100% against that and pointing out Citadel (which backs Melvin) has the biggest position in that. WSB has also taken it personally and made it a moral crusade after the shenanigans last Thursday, and they're also convinced the huge HF short positions are still out there and vulnerable (albeit not at 140% of float) and probably indicative of counterfeiting stocks so if they hold & buy the dips after ladder attacks eventually the short sellers that are paying interest on fail to delivers will have to pay up. The smart ones like the DeepFuckingValue guy who started this have both massively cashed out ($13m on like $11k to start) but still have large positions they're content to hold since they're looking at it like found money and worth risking to fuck the hedge funds. (Edit: plus obligatory I JUST LIKE THE STOCK) There's also funny stuff going on - someone put $25m down on an $800 call option for 3/19 just before close yesterday. Is it leverage for a huge short position they took or had? Is it someone who thinks there's a chance this will actually be over $800 on that date? Probably the former, but idk, and either way it shows this isn't retail investors at this point - some whales or funds are also betting big in here.
Either way, it's been fun reading & not that anyone will go to jail or get more than a fine (RH will probably be bought out or have to change its name, but Vlad will get a golden parachute to be the fall guy) it's definitely exposing a lot of corruption for those paying attention.