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Author Topic: AMC share price quadruples as retail traders raid hedge-fund short targets  (Read 8848 times)

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Offline thackney

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #50 on: January 29, 2021, 12:39:15 pm »
The GameStop phenomenon has gone global
https://www.cnn.com/2021/01/29/investing/premarket-stocks-trading/index.html
January 29, 2021

The GameStop (GME) mania that's hijacked US markets is grabbing the attention of investors all over the world, as traders from London to Mumbai try to get in on the action.

What's happening: Shares of companies that are heavily shorted — indicating that institutional investors are betting they will fall — have been scooped up on a number of global exchanges....
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Offline Hoodat

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #51 on: January 29, 2021, 12:42:39 pm »
Quote from: catfish1957 on January 29, 2021, 11:59:16 am
I'd make a call that Short Trading be eliminated from the markets, but then I realize these low lifes would figure out a different way to game the system.

From a gambling standpoint, the caveat with short selling is that your liability is unlimited.   The most you can possibly win on your bet is the initial value of the stock.  There is no ceiling on what you can lose.

Because of this, it is surprising to me that brokerage houses allow them to do it in the first place.  The potential for disaster here is no different from the margin calls that caused the October 1929 stock market collapse.
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If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

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Offline catfish1957

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #52 on: January 29, 2021, 12:43:32 pm »
Quote from: Ghost Bear on January 29, 2021, 12:39:00 pm
Sorry, but where did I say they are villains?  For what it's worth, I've been cheering them on (in my home, if not making that clear in my posts.) I think this whole thing is hilarious and very telling, in how the system is stacked against ordinary people.

Sorry, I mis-infered. I figured the term "autist" was an insult.

Agree, on the balance, In a good real world, these Reddit boys might permanently function as the "Short Police".  Complict SEC will have none of that, I am sure.
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Online Bigun

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #53 on: January 29, 2021, 12:52:22 pm »
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Offline Hoodat

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #54 on: January 29, 2021, 12:53:03 pm »
Quote from: DCPatriot on January 29, 2021, 12:01:22 pm
So let me get this straight, please?

The few core-owners of AMC, the movie theater chain that was essentially bankrupt due to the 'Pandemic'... earned BILLIONS of $$$ yesterday??

Only if they sold their stock.  A stock is only worth what it is sold for.  The company itself was able to unload $600 million in debt to Silver Lake, probably at around 20 cents on the dollar.  But for a major shareholder to unload stock, that throws up enough red flags to make it not worth the trouble.
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If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."     -Ayn Rand-

Online Ghost Bear

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #55 on: January 29, 2021, 12:56:12 pm »
Quote from: catfish1957 on January 29, 2021, 12:43:32 pm
Sorry, I mis-infered. I figured the term "autist" was an insult.

Agree, on the balance, In a good real world, these Reddit boys might permanently function as the "Short Police".  Complict SEC will have none of that, I am sure.

"Autist" is one of the more polite words they use to describe themselves. Go to https://www.reddit.com/r/wallstreetbets/ and see for yourself.

One of their memes (which had me laughing out loud) :

https://www.reddit.com/r/wallstreetbets/comments/l7tlyw/wsb_vs_ws/?utm_source=share&utm_medium=web2x&context=3

(sorry, I'm not able to embed it.)
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Offline Hoodat

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #56 on: January 29, 2021, 01:01:34 pm »
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If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."     -Ayn Rand-

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #57 on: January 29, 2021, 01:08:42 pm »
Quote from: thackney on January 29, 2021, 12:39:15 pm
The GameStop phenomenon has gone global
https://www.cnn.com/2021/01/29/investing/premarket-stocks-trading/index.html
January 29, 2021

The GameStop (GME) mania that's hijacked US markets is grabbing the attention of investors all over the world, as traders from London to Mumbai try to get in on the action.

What's happening: Shares of companies that are heavily shorted — indicating that institutional investors are betting they will can make them fall — have been scooped up on a number of global exchanges....

Fixed it!
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"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
- J. R. R. Tolkien

Offline thackney

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #58 on: January 29, 2021, 01:10:16 pm »
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Offline catfish1957

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #59 on: January 29, 2021, 01:27:15 pm »
Quote from: Ghost Bear on January 29, 2021, 12:56:12 pm


https://www.reddit.com/r/wallstreetbets/comments/l7tlyw/wsb_vs_ws/?utm_source=share&utm_medium=web2x&context=3

(sorry, I'm not able to embed it.)

That was a hoot.  Bloomberg TV just came up short of calling the Reddit brigade econ-terrorist.   The financial swamp is shitting in their pants. 
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Offline Hoodat

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #60 on: January 29, 2021, 01:33:27 pm »
Remember these lines from Trading Places?

Billy Ray Valentine: [watches Louis clean his shotgun] You know, you can't just go around and shoot people in the kneecaps with a double-barreled shotgun 'cause you pissed at 'em.

Louis Winthorpe III: Why not?

Billy Ray Valentine: It's called assault with a deadly weapon. You get twenty years for that shit.

Louis Winthorpe III: Listen, do you have any better ideas?

Billy Ray Valentine: Yeah. You know, it occurs to me that the best way you hurt rich people is by turning them into poor people.

Coleman: You have to admit, sir, you didn't like it yourself a bit.


I want to see every one of these hedge fund schmucks living in a one-bedroom apartment and dodging the landlord because they don't have this months rent.
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If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."     -Ayn Rand-

Offline XenaLee

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #61 on: January 29, 2021, 01:34:40 pm »
Quote from: catfish1957 on January 29, 2021, 01:27:15 pm
That was a hoot.  Bloomberg TV just came up short of calling the Reddit brigade econ-terrorist.   The financial swamp is shitting in their pants.

Funny how... it's always 'different' if/when it's THEIR wallets and bank accounts that are getting decimated, eh?
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Offline catfish1957

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #62 on: January 29, 2021, 01:46:01 pm »
Quote from: Hoodat on January 29, 2021, 01:33:27 pm
Remember these lines from Trading Places?



Financial lexicon needs to be adjusted for the term "Winthorped"  and defined as whacking a sleazy financial trader with his own tools.  :silly:
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Offline catfish1957

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #63 on: January 29, 2021, 01:59:38 pm »
Looking ahead at future other targets, here is supposedly the 10 most shorted stocks at this moment...

https://qz.com/1965817/beyond-gamestop-these-are-the-10-most-shorted-stocks/?utm_source=YPL

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I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline mountaineer

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #64 on: January 29, 2021, 02:46:38 pm »
CBS News   @CBSNews
A reporter asked White House press secretary Jen Psaki about GameStop.
"I know it’s a big story, but our focus and our big story is getting the American people back to work," Psaki answered.
https://cbsn.ws/3j07y3Y
12:26 PM · Jan 29, 2021·


Geoffrey Miller  @primalpoly
BTW, you all know that WH Press Secretary Jen Psaki's brother Jeffrey Psaki is a portfolio manager at hedge fund Citadel LLC -- one of the main short sellers getting crushed by WSB in the GameStop thing?
He seems to have taken down his LinkedIn profile:
https://linkedin.com/in/jeffrey-psaki-bbb38a86/
1:30 PM · Jan 29, 2021·

just your avg joe  @jdeclue
Replying to  @primalpoly
They removed her brother, saying he is not notable enough to be included in her BIO. That is really sketchy. Major changes today and they all protected her entry.

2:35 PM · Jan 29, 2021

Twitter thread at

https://twitter.com/jdeclue/status/1355238079360094212
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Offline mountaineer

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #65 on: January 29, 2021, 02:48:36 pm »
Candace Owens @RealCandaceO
15m
Wow. They actually did it. CNN is already beginning to call Redditors anti-Semitic white supremacists.
They are setting the stage to give the wealthy, hedge fund elites their billions back.
This is sick stuff but they’ve been doing it for years to Trump supporters.
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The abnormal is not the normal just because it is prevalent.
Roger Kimball, in a talk at Hillsdale College, 1/29/25

Offline catfish1957

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #66 on: January 29, 2021, 02:54:09 pm »
Quote from: mountaineer on January 29, 2021, 02:48:36 pm
Candace Owens @RealCandaceO
15m
Wow. They actually did it. CNN is already beginning to call Redditors anti-Semitic white supremacists.
They are setting the stage to give the wealthy, hedge fund elites their billions back.
This is sick stuff but they’ve been doing it for years to Trump supporters.


Wow, they really are panicking, and going all Alinsky on 'em.
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Offline XenaLee

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #67 on: January 29, 2021, 02:58:14 pm »
Quote from: catfish1957 on January 29, 2021, 02:54:09 pm
Wow, they really are panicking, and going all Alinsky on 'em.

They're so panicked... that they forgot to include their favorite slur, "racist".
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No quarter given to the enemy within...ever.

You can vote your way into socialism, but you have to shoot your way out of it.

Offline Hoodat

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #68 on: January 29, 2021, 03:10:37 pm »
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If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."     -Ayn Rand-

Offline Hoodat

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #69 on: January 29, 2021, 03:12:59 pm »
Quote from: mountaineer on January 29, 2021, 02:48:36 pm
Candace Owens @RealCandaceO
15m
Wow. They actually did it. CNN is already beginning to call Redditors anti-Semitic white supremacists.
They are setting the stage to give the wealthy, hedge fund elites their billions back.
This is sick stuff but they’ve been doing it for years to Trump supporters.


Now THAT pisses me off.  It makes me want to buy some GME shares.
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If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."     -Ayn Rand-

Offline catfish1957

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #70 on: January 29, 2021, 03:19:30 pm »
Quote from: Hoodat on January 29, 2021, 03:10:37 pm
An Open Letter to Melvin Capital

This is personal.

Kudos to that youngster.  He's putting it all on the line, and I applaud his candor, heart, and bravery.

It is a true David and Goliath story playing out in front of us, and the world is watching.
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Offline catfish1957

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #71 on: January 29, 2021, 03:22:42 pm »
Quote from: Hoodat on January 29, 2021, 03:12:59 pm
Now THAT pisses me off.  It makes me want to buy some GME shares.

I am thinking about it too.  I know it will be money down the drain, but also see it as a donation to the cause of bringing corrupt financial institutions down to their knees.

Think they would like a Boomer participant?   :cool:
« Last Edit: January 29, 2021, 03:23:30 pm by catfish1957 »
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Offline Hoodat

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #72 on: January 29, 2021, 03:41:21 pm »
According to WallStreetBets, 113% of total stock is still shorted.  Some of the stock has been recovered by the original hedge funders and paid out to satisfy the short, but more funders have jumped in since then and shorted again.

If there is really 113% still outstanding, then these funders are in deep doodoo.  If the call dates are ever published, it would up the ante considerably.
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If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.     -Dwight Eisenhower-

"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."     -Ayn Rand-

Offline catfish1957

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #73 on: January 29, 2021, 03:54:22 pm »
Quote from: Hoodat on January 29, 2021, 03:41:21 pm
According to WallStreetBets, 113% of total stock is still shorted.  Some of the stock has been recovered by the original hedge funders and paid out to satisfy the short, but more funders have jumped in since then and shorted again.

If there is really 113% still outstanding, then these funders are in deep doodoo.  If the call dates are ever published, it would up the ante considerably.

GME Shorty's are having quite a Duke and Duke moment aren't they?



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I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Online Bigun

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Re: AMC share price quadruples as retail traders raid hedge-fund short targets
« Reply #74 on: January 29, 2021, 04:06:42 pm »
Quote
BTW, you all know that WH Press Secretary Jen Psaki's brother Jeffrey Psaki is a portfolio manager at hedge fund Citadel LLC -- one of the main short sellers getting crushed by WSB in the GameStop thing?

No! I didn't know that but it doesn't surprise me in the least now that I do.  The swamp gives incest a bad name!
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"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
- J. R. R. Tolkien
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