everybody on ilx complains about reddit

The Tendieman has come.

ht u/quigonshin pic.twitter.com/MfD1aqNSO3

— wsb mod (@wsbmod) January 26, 2021

Companies take debt - offerings aren't the only (or even, I think, the primary) way to raise cash. I am very pro-shorting as a general phenomenon because it's a check on scam companies and irrational exuberance. Equal amount of red dildo emoji for bullshit IPOs.

xpost oh yeah it's crazy but I think a lot of ppl just read "retail is dead" articles and assumed Gamestop was like a month from going out of business (prior to all this)

trading isn't suspended.

i mean i can totally believe there's a bullish case for gamestop once malls reopen, but a market cap of $22bn seems a bit of a stretch tbh.

― 𝔠𝔞𝔢𝔨 (caek), Wednesday, January 27, 2021 2:25 PM (five minutes ago) bookmarkflaglink

someone on twitter pointed out that slack has a market cap of $25b and has 1/16th the annual revenue of gamestop. fair cop, i guess.

haha fair

check the market cap of any other company you think is crappy and compare.

what physical retail businesses with larger market caps? just target and walmart?

home depot, costco, lowes too i guess.

yerac how do i get these people to buy stock in my employer before it next vests to me?

Market cap of an early stage company is 95% growth expectations. I happen to think those expectations are bullshit when it comes to Slack, but it's very much apples and oranges to gamestop. It's a speculative bet on the potential of Slack to become some kind of global business enterprise software giant. There's no version of that case for gamestop.

A better comparison might be another retailer of non-perishable items. For example, Gap has annual revenue of $16 billion and a market cap of less than half that amount.

do you work at gamestop? if not, shrug emoji.

And Gap clothing isn't being replaced by a digital product

This just feels a lot like the old penny stock email scams, but magnified in power by social media.

It's a speculative bet on the potential of Slack to become some kind of global business enterprise software giant

that makes sense. in slack’s case it might also be a bet that the company gets acquired for lots of money

Biden team is "monitoring the situation" around GameStop.

— Jennifer Epstein (@jeneps) January 27, 2021

xp. it is bulllshit but also you could make money out of it if you got in early enough and it fucks over hedge funds? where's the downside? gambling is fun.

threab

Apparently at 1:32pm, a 587k shares of GameStop traded at $327 a share, which is $187 million. That's not coming from Robinhood. Wall Street is on both sides of this battle.

Ugly stuff.

— Matt Stoller (@matthewstoller) January 27, 2021

Biden is monitoring some goya beans too.

xp oh sure, I actually like it more than the email scams because it feels more like a bunch of internet trolls in on the game rather than a bunch of old people getting swindled.

.@TDAmeritrade puts the brakes on $GME $AMC

Live coverage: https://t.co/VH1LDKpHxM pic.twitter.com/ugBT8qrVp8

— Anthony DeRosa 🗽 (@Anthony) January 27, 2021

there are some restrictions with some brokers now on certain options strategies and i think buying in a margin account.

Slack is already getting acquired, by Salesforce

ha i just search for my employer on WSB and the discussions are amazing

it's 50% people saying things that turned out to be correct, and 50% people saying things like "This is god damn brilliant. I didn't read a word but he typed so much he has to know what he's talking about. I am in baby" and " why would i buy when lil yachty’s new album will certainly sink the market upon release".

also my employer's stock is up 7.5% today wtf

Slack is already getting acquired, by Salesforce

― Canon in Deez (silby), Wednesday, January 27, 2021 2:58 PM (seven minutes ago) bookmarkflaglink

d'oh, yes it is. what a year the last two months have been

the no-code/low-code platform wars are just beginning

I learned there was still such a thing as Gamestop from this whole kerfuffle, I thought people downloaded their games now

god I'm gonna be so tilted if my option on AMC isn't executed, could easily bank a few k if it works out

oh man good luck

lol i am up $59 since i got into it this morning

like, what's the out on gamestop are they just going to say 1-2-3-go and dump everything next week or what that's the part i don't get

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

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

it ends with grandma losing her house

i think we're in let's do it and be legends mode rn

dammit, option was canceled. no idea why that happens but that’s a bummer. I can’t afford to buy option at the current price

>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.