everybody on ilx complains about reddit

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

amazing to see all these industry professionals blaming the basic function of the system on some message board posters

my take is that this particular adventure is ill considered not just because it is being done with no thought to the consequences for the company in question and the people who have (mostly shitty and ill paying) jobs there but because it exposes the easily manipulated underpinnings of an utterly broken system at a moment when the economy is on the precipice.

OTOH this is exactly how I feel about the stock exchange all day every day so the hullaballoo mostly coming from people who are afraid their specialized market knowledge is going to turn into buggywhip making is pretty rich.

above and beyond that i would argue that investing in the stock market is more or less an inherently immoral act as it directly funds institutional racism and classism and sexism and general injustice but whee stonks wheeeeee

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.
― the serious avant-garde universalist right now (forksclovetofu), Thursday, January 28, 2021 10:20 AM (six minutes ago) bookmarkflaglink

Not following this at all -- his argument is that the mass exodus from the obviously overvalued stock is going to lead it to be undervalued and then somehow that will mean the CEO has to fire a bunch of people?

xp this has been old guy yells at the cloud i'll be back on Tuesday to discuss tiktok

weird to see all the concern about this but not Tesla becoming worth more than Ford overnight (despite selling 1% as many cars) and turning Elon Musk into the world's richest man

i know next to nothing about wall street; is it possible to buy gamestop stock through *any* channels right now, or are purchases blocked across the board?

https://www.youtube.com/watch?v=dtbkYCLFxYU

I don't get why Gamestop would have to fire people either, I assume the officers are not saying "oooh we're worth billions now, time to hire 20,000 people"

I know this GameStop stuff is funny, but you have to remember this is hurting real people who own multiple boats

— Kevin Farzad (@KevinFarzad) January 27, 2021

I mean, isn't it quite possible that this is both a kinda hilarious "fuck over the hedge fund assholes" thing but also something that will have unintended consequences for some "little guys"?

Maybe I'm completely off base here, and I'm happy to be corrected, but isn't it an entirely reasonable possibility that when GameStop stock starts to plummet again, as is inevitable, it will keep going past where it "started"? And, if so, isn't one of the first moves companies like this make when the bottom line looks bad is to lay off employees? It just feels like an unintended consequence of this might be the "little guys" at these companies ending up without a job (as shitty paying as they may be) in the middle of a pandemic. And I'm just going to go out on a limb and guess that the vast majority of redditors that jumped on this and made a few bucks aren't going to share those with the suddenly out of work GameStop clerks. But maybe I'm predicting a consequence that has little likelihood of playing out.

Cilizza convinced me to jump in with a little bit https://www.cnn.com/2021/01/27/politics/gamestop-stock-surge-trumpism/index.html?

Who's holding? How do you plan to get out?

lol

https://www.reddit.com/r/wallstreetbets/comments/l6x130/class_action_against_robinhood_allowing_people_to/

Jon: no, that's my point exactly. Seems likely to me that Gamestonk is gonna ultimately crater and investors are gonna run in the longterm for fear of volatility, leading to contraction and layoffs up and down the line.