Gamestop stock situation

[Lyubov]

14 minutes ago, Leo Gura said:

This whole thing is like stage Green sharks smelling blood in the water and going into a feeding frenzy.

So predictable.

This is what's wrong with Green.

omg we get it. you don't like when stuff gets kinda mob rule. now eat the rich with us!

[Lyubov]

I bought one share cause why tf not?

I diverge with Leo when it comes to the validity of this movement. It isn't going to bring sweeping changes to the way investing is conducted but it is raising awareness of the issues and bringing in people that normally never follow this or even invest.   

[Leo Gura]

17 minutes ago, Lyubov said:

I bought one share cause why tf not?

 

I should just stop teaching.

[abrakamowse]

6 minutes ago, Leo Gura said:

I should just stop teaching.

 

[abrakamowse]

@Lyubov The problem now is that they are limiting to buy the stocks they will do down. Do you think is going to go up?

[Lyubov]

[Lyubov]

Just now, abrakamowse said:

@Lyubov The problem now is that they are limiting to buy the stocks they will do down. Do you think is going to go up?

I have no idea. Maybe I just got astro-turf'd by a bunch of finance bro's and am about to lose a couple hundred bucks. Maybe it continues to rise into next week. Either way I would never spend money on this that I'm not prepared to lose and everyone should be doing the same (but unfortunately some people are actually betting their rent and savings on this...) 

I'm ok with looking like a fool if I was wrong on this movement. Yall have my permission to make fun of me if I lose. 

[abrakamowse]

Just now, Lyubov said:

[abrakamowse]

6 minutes ago, Lyubov said:

I'm ok with looking like a fool if I was wrong on this movement. Yall have my permission to make fun of me if I lose. 

I'm not going to make fun  of you, really.

It doesn't matter what happens.

[abrakamowse]

9 minutes ago, Husseinisdoingfine said:

What's the issue again?

The thing is that Game Stop stocks were going down like crazy and some hedge fund managers were betting that it will go down more.

So what they did is they use a technique called short selling, what they do is they borrow stocks from another hedge fund and they pay a low fee.

Then the sell it at the market price and then they buy the stock again cheaper, because it was supposed to go down and they return it to the hedge fund and they keep the difference.

The problem is that some redditors that invest they saw the opportunity to buy and bring the price up so the hedge fund managers will have to pay more and will lose money in the transaction. They also wanted to help companies that are not doing good, they are doing the same with AMC and other companies that are going bankrupt.

And now is like a war between Wall Street and some Redditor investors...

Edited January 29, 2021 by abrakamowse

[abrakamowse]

Lol

https://cointelegraph.com/news/wallstreetbets-coin-becomes-1-on-coinmarketcap-kind-of

 

 

 

[Yoshy]

@CultivateLove If you are into astrology . 

What happened is that last december we moved from age of pisces to age of aquarius , this change happens every x centuries . 

And basicly the age of aquarius is supposed to have a lot of stage green in it in terms of values . I cant tell you in depth im not a pro you should look for yourself astrology is a funny rabbithole . 

[abrakamowse]

[Preety_India]

@abrakamowse like a big slap in the face for HF. 

[abrakamowse]

@Preety_India That's a good thing. I really would feel sad if the movie theaters have to close doors. I enjoy going to the movies. We already have a crisis, people is not going to the movies as before and on top of that the COVID thing...

I think this give all of us hope...

Edited January 29, 2021 by abrakamowse

[Preety_India]

@abrakamowse

This just shows why the market is stupid.You can literally create "value" by investing in a low value stock, hyping that stock on the internet to to boost its value artificially,then sell it when the value goes up a little,thus creating a big return for a few original investors, then screwing over a bunch of people when the stock falls. Basically, a pyramid scheme that just requires timing. It's so stupid. Capitalism, as it is,is retarded. This whole thing is based on betting, and manipulating the market, on both sides, both from the hedge fund guys,and the reddit guys.

Remember that Hedge funds also go and buy healthy companies, load them with debt and make profits while the company goes under as well as their employees. Pure speculation, no price discovery on a stock, companies receiving bailouts and
CEOS buys back their stock propping up the company economic indicators and thus getting paid more in bonus. HF make money when stock wins or loses.

 These same hedge funds worked hard to also kill Tesla for many years. The enemies are the hedge funds that are betting against businesses by shorting their stock in order
to drive them out of business due to their greed. Not all billionaires are evil.

 

[abrakamowse]

23 minutes ago, Preety_India said:

Basically, a pyramid scheme that just requires timing. It's so stupid. Capitalism, as it is,is retarded. This whole thing is based on betting, and manipulating the market, on both sides, both from the hedge fund guys,and the reddit guys.

I was thinking exactly the same. And after this craziness of the GME stocks I read someone in twitter that said the same thing, that Capitalism is a pyramid scheme. So, I google it and I found this, not sure what are his arguments but I want to know more about it.

 

https://www.forbes.com/sites/jeffmcmahon/2019/04/05/the-world-economy-is-a-pyramid-scheme-steven-chu-says/?sh=3e3267164f17

[abrakamowse]

This is the guy who began all this GME stock craziness...

 

[aurum]

21 minutes ago, abrakamowse said:

I was thinking exactly the same. And after this craziness of the GME stocks I read someone in twitter that said the same thing, that Capitalism is a pyramid scheme. So, I google it and I found this, not sure what are his arguments but I want to know more about it.

 

https://www.forbes.com/sites/jeffmcmahon/2019/04/05/the-world-economy-is-a-pyramid-scheme-steven-chu-says/?sh=3e3267164f17

He’s right that it is essentially a ponzi scheme. But he didn’t mention how interest bearing-debt money plays a huge factor as well in endless growth and the ponzi scheme nature of capitalism.

This is a decent video explaining the basics:

 

[Preety_India]

@aurum thanks for sharing the video. That looks interesting.