AMC share price quadruples as retail traders raid hedge-fund short targets

[catfish1957]

Looks like a stampede exit at GME.  After hours trading has the stock down 42% overnight, after losing 31% yesterday. 

Some really hilarious comments at Reddit WSB

[thackney]

Looks like a stampede exit at GME.  After hours trading has the stock down 42% overnight, after losing 31% yesterday. 

Some really hilarious comments at Reddit WSB

From Mark Cuban:

[–]mcuban
Final thought. First thanks for the great questions. Thanks for changing the game. Thanks for taking on Wall Street. Thanks for making kids around the country if not the world, including my son, want to learn about stocks and try trading them (Including my son and daughter). WSB changed the game far more than everyone on this board will ever get credit for.

That said, you will do all this again. You will go after WS and the next time you will be smarter. There was only one thing that messed you all up: RobinHood and the other zero commission brokers that everyone used didnt have enough capital to fund the fight. They let you down in a big way.

When you load back up, fight a broker with TRILLIONS OF DOLLARS in assets on their balance sheet. Someone that can be there when the fight starts and wont blink an eye.

No disruption is easy or happens in a straight line. Stay with it. I am a believer

https://old.reddit.com/r/wallstreetbets/comments/lawubt/hey_everyone_its_mark_cuban_jumping_on_to_do_an/

[catfish1957]

Gamestop has approached the pre-WSB run up price.  On the surface, it may seem like a strategic loss for these guys, but IMO they are stronger and have more core resolve than ever.  And don't let anyone tell you that the Hedge Fund Managers are now sleeping better. I think this event supposedly cost the sector $10B the past few weeks in margin calls. It'll likely happen again.

Go Retards..  go!!!!

[Bigun]

Gamestop has approached the pre-WSB run up price.  On the surface, it may seem like a strategic loss for these guys, but IMO they are stronger and have more core resolve than ever.  And don't let anyone tell you that the Hedge Fund Managers are now sleeping better. I think this event supposedly cost the sector $10B the past few weeks in margin calls. It'll likely happen again.

Go Retards..  go!!!!

  Excellent analysis @catfish1957 and I agree 100%! Those hedgefund @$$holes have been put on notice now!

[catfish1957]

Excellent analysis @catfish1957 and I agree 100%! Those hedgefund @$$holes have been put on notice now!

My favorite post today from the retards was them calling out Robinhood.  Couldn't afford the captialization for mangaing heavy trades (trade stops), while buying Superbowl Ad time?

[Hoodat]

Buy the Dip!  HOLD!!!

(Not financial advice.  Only learned to read yesterday.  I like the stonk!)

[Hoodat]

My favorite post today from the retards was them calling out Robinhood.  Couldn't afford the capitalization for managing heavy trades (trade stops), while buying Superbowl Ad time?

Robinhood has a serious conflict of interest here.  One of their biggest sources of revenue came from Citadel in exchange for real-time trade information on GME and other stocks by Robinhood users.  Also, Citadel channels more orders through Robinhood than through any other firm.

Two days before Robinhood restricted purchases (not sells) of GME stock, Citadel loaned Melvin Capital $2 billion to defend itself against the squeeze.  So Citadel had a financial stake in beating the squeeze while at the same time had access to the real-time trade information of those attempting the squeeze as well as influence over the firm handling those trades.

There was no excuse for Robinhood halting GME purchases while still allowing sales.  I would hope their actions would spell an end to their existence.

[Hoodat]

GME back above $260.

[catfish1957]

Which part?  The hedge fund investors shorting more stock shares than there were in existence?  Or some 23-year-old (who spends his time playing video games in his basement) figuring it out?

 

I have always thought the Hedge Shorty's are among the most sleaziest animals in the financial animal kingdom.  Seeing them getting fleeced by kids who see investment day trading like a video game has been some of my most enjoyable news moments of the past year.

[catfish1957]

Looks like this saga is going into the next phase...  legal proceedings against Robin Hood for market manipuation. 
This is going to be a groundbreaking case, as it will have long lasting ramifications of how shorts can game the brokerage houses for their own gain.   Hopefully, it will bring some changes to what has been an abused system that has "winked winked" at what is basically insider trading for some time.

https://www.marketwatch.com/story/lawsuits-against-robinhood-in-the-gamestop-saga-are-getting-their-day-in-court-but-theres-one-big-snag-11618806321?cx_testId=22&cx_testVariant=cx_1&cx_artPos=8&mod=home-page-cx#cxrecs_s

[Weird Tolkienish Figure]

Looks like this saga is going into the next phase...  legal proceedings against Robin Hood for market manipuation. 
This is going to be a groundbreaking case, as it will have long lasting ramifications of how shorts can game the brokerage houses for their own gain.   Hopefully, it will bring some changes to what has been an abused system that has "winked winked" at what is basically insider trading for some time.

https://www.marketwatch.com/story/lawsuits-against-robinhood-in-the-gamestop-saga-are-getting-their-day-in-court-but-theres-one-big-snag-11618806321?cx_testId=22&cx_testVariant=cx_1&cx_artPos=8&mod=home-page-cx#cxrecs_s

I hope Robinhood loses.

[Hoodat]

I hope Robinhood loses.

I agree, considering that their prime source of income came from selling trade information and data directly to the hedge funds.