everybody on ilx complains about reddit

>This man on Fox News just said that they should “ban social media from talking about short stocks” pic.twitter.com/lYs54F2Yu3

— cirno++ (@cirnoplusplus) January 27, 2021

yeah same, I have a hard time understanding how this ends.

or understanding how people are understanding how this ends, if that makes sense.

― Van Horn Street, Wednesday, January 27, 2021 12:53 PM (forty-eight minutes ago) bookmarkflaglink

there's discussion on the subreddit

https://www.reddit.com/r/wallstreetbets/comments/l5x0fc/gme_endgame/

FAQ 6: What is the next stock?
Get this thought out of your head. Yeah you just joined WSB and made a few bucks and now you think you found yourself an investment club. No. This is a forum for folks to share their risky trade ideas, not a place to coordinate to manipulate the market. Yes, at the moment the consensus is that we can make a boatload of money off of dumbass hedge funds, but think of it less like a pack of draft horses following a path and more like a room of angry, shitting monkeys who happen, for the time being, to be throwing their shit in the same direction.

I particularly liked this part.

yeah some of the WSB guys crack me up

Isn't that guy calculating the multipliers all wrong using the float instead of the total market cap?

xp

and the 150k I YOLO in was disposable income I can afford to lose.

lol, unless I'm wildly out of touch with reddit slang, this makes me doubt even more the "little guys" narrative here.

Before now it seemed like WSB were all STEMlord software developers and the like but they're still littler guys than Steve Cohen.

people have been deeply trading on there all last year during the huge bull run, that disposable income is likely from past gains.

xpost - Def "little" compared to guys like Cohen, but from some of the mainstream articles going around these last few days you didn't get the sense that it was also guys with $150,000 just sitting there for the right meme.

Undoubtedly past gains, just saying I didn't expect to see guys casually dropping six figures on this like its NBD. Just a world I cannot relate too at all.

I saw a tweet in response to an article about this that really helped me understand the mindset of the more casual redditors jumping on this (there was some other questionable stuff in this user's timeline so I didn't want to link directly):

"I have a real job so losing $50-$100 in order to watch Wall Street goons lose millions and their livelihoods is music to my ears"

If we get one hedge fund jumper, it's all worth it

FAQ 6: What is the next stock?
Get this thought out of your head. Yeah you just joined WSB and made a few bucks and now you think you found yourself an investment club. No. This is a forum for folks to share their risky trade ideas, not a place to coordinate to manipulate the market. Yes, at the moment the consensus is that we can make a boatload of money off of dumbass hedge funds, but think of it less like a pack of draft horses following a path and more like a room of angry, shitting monkeys who happen, for the time being, to be throwing their shit in the same direction.
I particularly liked this part.

― soaring skrrrtpeggios (jon /via/ chi 2.0), Wednesday, January 27, 2021 4:44 PM (forty-four minutes ago)

yeah well this is exactly how I'm using it -- seems like a guaranteed gravy train for a few days then I'm hopping off

How many FOMO newbies will get burnt from this, esp tax wise? If trading's been halted how do they sell now? I dont get stock shit :(

i'm so stoked i bought KOSS at $16.10 this morning; i hadn't thought about koss in about fifteen years! if only COBY was publicly traded...

I get free share options from my company once a year and thats excitement enough for me with this stuff.

yeah well this is exactly how I'm using it -- seems like a guaranteed gravy train for a few days then I'm hopping off

Fair play, I don't have the patience or mindset for this kind of thing, I don't blame folks smart enough to use this to their advantage at all! I just liked how he was downplaying newbie's expectations that this was going to be a regular thing for easy money, over and over.

yeah, there will be one bad day that will wipe out half the sub. Like tesla battery day wiped out a lot of people who never returned.

i think a lot of ppl are like me, if I go to the horse track I take a certain amount of money to have fun with in cash and stop if I lose it

me after making $9 investing in game stop pic.twitter.com/utaDq8H09H

— manny (@mannyfidel) January 27, 2021

Gamestop is going to have new customers for life. Going to treat that bb so well.

lol I'm down from $59 to $16


the market is a crul ringmaster

Gotta admit it’s really something to see Wall Streeters with a long history of treating our economy as a casino complain about a message board of posters also treating the market as a casino

— Alexandria Ocasio-Cortez (@AOC) January 27, 2021

I've been holding since October, diamond hands or let it go to zero (this is not financial advice you should listen to.) xpost

my stakes are basically "I might make some money in a wacky way" vs. "I have to return the headphones I just ordered yesterday" so I feel ok seeing wtf happens

I put $100 into AMC because I haven’t been to a craps table in two years.

RIP WSB

? it just went private because the backend kept exploding due to volume/load.

Gary Cohen of Chewy made 90 millions a day for 14 days thanks to this.

Is this what eat the rich is supposed to look like?

If you just looked up this information, I would think you should try to get the name right.

Yup, sorry. Ryan Cohen.

ha, sorry for being an asshole.

To be fair, Gary Cohen is a great broadcaster and 100% deserves 90 millions a day for 14 days for his work.

Oh I thought you were talking about the author of Education and Middle-Class Society in Imperial Austria, 1848-1918.

Not to be confused with the man behind the memorable 1966 screed, Biblical Separation Defended.

I hate all this so much lol

Yeah idk a lot about this stuff but this level of fuckery is bound to be a problem

it’s very good

Only normal things are happening

a problem for whom and what else is new. I like when people have opinions about things they say don't understand.

https://pbs.twimg.com/media/EsyNlfmXMAQg7UT?format=jpg&name=small

a problem for a bunch of people jumping on and losing their life savings? I’m just talking shut as one does on these here msg boards. I’ll leave it to the pros I guess

didn't the "fuckery" start with people who were shorting it in the first place? like, over 100% of the shares had puts against them, possibly due to algorithmic trading or something.

full disclosure: i do not know much about the stonk market. my genius lies in other domains.

Transformer neural net has opinions:

To date, the GME play has been pretty simple: buy and hold and wait for the squeeze, whether that comes in the form of outright purchase, rollover of the puts, or deep in the money bull call spread (in our case, that’s just about all it has come in the form of). In practice, that is very rarely a good idea, because from a size perspective, these massively large stocks are not liquid and can take a very long time to move in the market. This, on top of the fact that these stocks have been bid up far higher than the value of the assets they hold, should serve as a pretty big warning for anyone thinking

man this is getting insane

alwayshasbeen.jpeg

life come at you fast

Robinhood might get delisted from the app stores 😹😹😹 https://t.co/fYASjESpVL

— Danny Page (@DannyPage) January 28, 2021

qanon energy had to go somewhere, didn’t expect it would be, uh, [reads 10000 articles about what is going on] this good and or bad thing

via ranjan roy and matt levine;

First, when the tourists leave, Gamestop's stock will come crashing down. Gamestop is a real company. It has over 53,000 employees. There's a reason you have not heard from anyone at Gamestop. This must be terrifying.

One important thing to remember is that while you and I and Reddit and Elon Musk can all treat GameStop’s stock as an absurd gambling token, a toy adrift on market sentiment far from any economists tell them something about how they should invest and what their hurdle rate for new projects should be? (Lol no.) Should they keep doing the stock buyback that they still have authorized? (Lol no.)

When that stock starts absolutely tanking - what happens? Does it stop exactly at some reasonable enterprise valuation? That's not how momentum works. In trading, everyone loved the adage "don't try to catch a falling knife" but while everyone enjoyed the lulz on the way up (other than Melvin Capital), it will be (gamestop CEO) Bell's job to catch the knife on the way down to try to keep as many of these people still employed as possible. Whatever happens, it will dangerous and ugly. Real employees could lose their real jobs thanks to the lulz.

yes this is called the stock market