4 ms·

You underestimate just how much concentrated retail volume is. I have had more than ten people ask me how to buy GME. Its on the front page of everything. Bitco

by dannyw 6y ago

You underestimate just how much concentrated retail volume is. I have had more than ten people ask me how to buy GME. Its on the front page of everything. Bitcoin’s nearly $1T market cap is more or less all retail. Plenty of WSB posts with multi million positions. Disclosure: I long GME.

xiphias2 6y ago
Also with out if money call options you can have 5x leverage quite easily with limited downside, and that's what retail is doing on masse. It's more fun than playing lottery for sure.
- dannyw 6y ago
  Also with half of the market being passive, every $1 of active money is matched by $1 of passive money.
  - tonfa 6y ago
    What does it mean? The passive ownership usually follows market cap, it doesn't need to buy because the share goes up, it was already owning the correct fraction (ok unless it suddenly enters the sp500 then it might move the price :))
ping_pong 6y ago
You don't understand. The original multi million dollar positions with WSB are static now. They're not trading anymore. They can't possibly boost the stock price any further. The way the stock price goes up is by more volume coming in at the highs. But we are talking 57 M shares traded at noon today with outstanding float of 65M. Those are professional day traders propelling the stock. Buying high and selling higher. It's not WSB.
- jaxwerk 6y ago
  Margin calls are surely coming for large short positions, starting Friday and likely continuing in coming weeks. If the short positions need to cover, there's forced demand.
  - stefan_ 6y ago
    The stock went 20 -> 300, surely whatever short positions there are were long ago margin called.
elliekelly 6y ago
> Plenty of WSB posts with multi million positions. This is interesting. I wonder what percent of outstanding shares of $GME WSB commenters collectively own and whether the SEC could make the case they're operating as a "group" for disclosure purposes.
- criddell 6y ago
  What is there to disclose when the group is entirely open for anybody to see?
  - teruakohatu 6y ago
    When the SEC requires reddit to disclose Private Messages?
  - krustyburger 6y ago
    Not sure if you’re serious, but there may be much more to the subreddit than meets the eye and regulators would probably be interested in: 1. Back channel communications and coordination between users. 2. User identities, including how many participating Reddit accounts are operated by the same individuals as alt accounts.
    - criddell 6y ago
      Oh, right. I never thought about those possibilities. They probably should investigate that stuff.
  - andoriyu 6y ago
    It's all complicated and up to interpretation to be honest. Basically, doing any effort to raise stock price beyond it's "proper" price in a coordinating way is a violation. Proving it is an entire another thing. I doubt this is what happening right now. I would like to see anyone trying to prove that ":rocket::rocket::rocket: GME to 1000" counts as such. However, liability like that is why AMC is forbidden to mention in r/WSB by its name. It's easy to pump and dump that ticket. This is why many "Let's take over this company with small market cap" threads were removed back in a day.
vincentmarle 6y ago
> I have had more than ten people ask me how to buy GME. Correct, I know at least 5 people who bought GME this week. It's way bigger than WSB now.
smabie 6y ago
I'm not sure about the breakdown for btc, but a very large amount of btc is owned by institutions. The flows have been staggering

by dannyw 6y ago

xiphias2 6y ago

Also with out if money call options you can have 5x leverage quite easily with limited downside, and that's what retail is doing on masse. It's more fun than playing lottery for sure.

dannyw 6y ago
Also with half of the market being passive, every $1 of active money is matched by $1 of passive money.
- tonfa 6y ago
  What does it mean? The passive ownership usually follows market cap, it doesn't need to buy because the share goes up, it was already owning the correct fraction (ok unless it suddenly enters the sp500 then it might move the price :))

ping_pong 6y ago

You don't understand. The original multi million dollar positions with WSB are static now. They're not trading anymore. They can't possibly boost the stock price any further. The way the stock price goes up is by more volume coming in at the highs. But we are talking 57 M shares traded at noon today with outstanding float of 65M. Those are professional day traders propelling the stock. Buying high and selling higher. It's not WSB.

jaxwerk 6y ago
Margin calls are surely coming for large short positions, starting Friday and likely continuing in coming weeks. If the short positions need to cover, there's forced demand.
- stefan_ 6y ago
  The stock went 20 -> 300, surely whatever short positions there are were long ago margin called.

elliekelly 6y ago

> Plenty of WSB posts with multi million positions. This is interesting. I wonder what percent of outstanding shares of $GME WSB commenters collectively own and whether the SEC could make the case they're operating as a "group" for disclosure purposes.

criddell 6y ago
What is there to disclose when the group is entirely open for anybody to see?
- teruakohatu 6y ago
  When the SEC requires reddit to disclose Private Messages?
- krustyburger 6y ago
  Not sure if you’re serious, but there may be much more to the subreddit than meets the eye and regulators would probably be interested in: 1. Back channel communications and coordination between users. 2. User identities, including how many participating Reddit accounts are operated by the same individuals as alt accounts.
  - criddell 6y ago
    Oh, right. I never thought about those possibilities. They probably should investigate that stuff.
- andoriyu 6y ago
  It's all complicated and up to interpretation to be honest. Basically, doing any effort to raise stock price beyond it's "proper" price in a coordinating way is a violation. Proving it is an entire another thing. I doubt this is what happening right now. I would like to see anyone trying to prove that ":rocket::rocket::rocket: GME to 1000" counts as such. However, liability like that is why AMC is forbidden to mention in r/WSB by its name. It's easy to pump and dump that ticket. This is why many "Let's take over this company with small market cap" threads were removed back in a day.

vincentmarle 6y ago

> I have had more than ten people ask me how to buy GME. Correct, I know at least 5 people who bought GME this week. It's way bigger than WSB now.

smabie 6y ago

I'm not sure about the breakdown for btc, but a very large amount of btc is owned by institutions. The flows have been staggering