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Comments like these really drive home how much a deranged cult phenomenon this whole thing is, more so than any headlines.

whatshisface 6y ago
Well, if you interpret radicalized to mean "have seen a real-world example of the benefits of federated social networks, perhaps real enough to shake the notoriously tech-apathetic public into doing something as easy as making an account somewhere else," then maybe it's a useful insight... unless, of course, nobody does anything.
- BingoAhoy 6y ago
  Nobody does anything for awhile is the most likely result. But there's also a side effect of generating angst and resentment towards the establishment that'll get bottled up and pressurized waiting for the right opportunity to explosively release. An investment in radicalization so to speak. I think Trump is an example of that phenomenon.
cbozeman 6y ago
By "radicalized" he means, "Will cause them to buy and hold more GameStop to continue the pain until Wall Street learns to back down." Diamond hands all the way. They had the chance to take it on the chin like a man, but they wanted to play rough, so we'll play rough.
- majormajor 6y ago
  > By "radicalized" he means, "Will cause them to buy and hold more GameStop to continue the pain until Wall Street learns to back down." What's the endgame? Sell at some point? At a profit or a loss? Seems like in that scenario anger would play to the hands of the people who bought earlier and can sell to newcomers...
  - cbozeman 6y ago
    The endgame is the destruction of Melvin Capital, and that's going to happen no matter what. No one can swoop in and just tank the stock price. Even if BlackRock were to dump all their shares before Friday, it likely still wouldn't be enough because that's only 13% of GME. Michael Burry's Scion Capital owns around 5%, but I don't think Dr. Burry's going anywhere either, and the reason they're going to hold is the same reason Melvin is going to go down in flames, there's simply no stock left to buy and no indication that selling makes sense right now. The whole thing driving this is a massive buy-up of all available stock. No one wants to sell; everyone wants to buy. If Melvin Capital were a patient in a hospital, it'd be brain dead and on life support. We're just waiting for everyone involved to say their goodbyes so the plug can be pulled. At $90 a share, Melvin had to get a $2.75bn capital injection to stay afloat. That was the time to get out. They instead tried to force a sell-off so they could buy up cheap shares and reduce the bleeding. That failed. For roughly every $12 over $90, Melvin Capital lost $1 billion. Well at $348 a share, they're now negative $21.5bn in value. Its over. Their greed has resulted in their utter destruction. Once Melvin's corpse is wheeled out of the hospital, BlackRock and Burry might head for the exit, especially Burry, since he bought in at $4 a share, and a 5% stake there is such an enormous return even at $200, much less $348, that at some point, you're just being a greedy asshole. Some people on WSB a little more ruthless, and frankly with the BS that Wall Street has gotten away with for the past few decades, I can't say I blame them; they plan to hold till $1000, which hilarious and crazy as it sounds, may not be impossible, but I'd judge it unlikely. I'd say anyone that got in $GME before the huge price spike ($20 and lower), now's a good time to cash out. You won. Your lottery ticket hit all 6 numbers. Go live your life. To all the short-sellers, I can only bow and say, "We who are about to die, salute you."
    - bostonsre 6y ago
      Aren't you scared about massive bubbles that would happen without short sellers? I don't agree with shady behavior from short sellers, but I think it's kind of good to have the devils advocates in the market to fight against bubbles caused by the long side. And I don't know, it's all a gentleman's club, why only be angry at the short sellers? Or are they just a more easily exploited member of the establishment? (and not saying the comeuppance isn't warranted, I lean towards the side of the little guy in this)
motohagiography 6y ago
I'm going to respond because the conceit bears it. The people participating in perhaps this first known popular short squeeze have skin in the game. They don't care if they lose their bets. As they say, we've seen who you cheer for, your disapproval means nothing.
- Bakary 6y ago
  As someone with no skin in the game, I find the whole situation both amusing and satisfying. I'm genuinely happy for all the WSB users who can now retire. At the same time, it's still just people getting lucky/unlucky in the stock market. One Wall Street group got burned, but others made bank. At no point did the system change or become threatened in any way. Given all that, I don't understand why it is portrayed as some sort of heroic fight between good and evil.

whatshisface 6y ago

Well, if you interpret radicalized to mean "have seen a real-world example of the benefits of federated social networks, perhaps real enough to shake the notoriously tech-apathetic public into doing something as easy as making an account somewhere else," then maybe it's a useful insight... unless, of course, nobody does anything.

BingoAhoy 6y ago
Nobody does anything for awhile is the most likely result. But there's also a side effect of generating angst and resentment towards the establishment that'll get bottled up and pressurized waiting for the right opportunity to explosively release. An investment in radicalization so to speak. I think Trump is an example of that phenomenon.

cbozeman 6y ago

By "radicalized" he means, "Will cause them to buy and hold more GameStop to continue the pain until Wall Street learns to back down." Diamond hands all the way. They had the chance to take it on the chin like a man, but they wanted to play rough, so we'll play rough.

majormajor 6y ago
> By "radicalized" he means, "Will cause them to buy and hold more GameStop to continue the pain until Wall Street learns to back down." What's the endgame? Sell at some point? At a profit or a loss? Seems like in that scenario anger would play to the hands of the people who bought earlier and can sell to newcomers...
- cbozeman 6y ago
  The endgame is the destruction of Melvin Capital, and that's going to happen no matter what. No one can swoop in and just tank the stock price. Even if BlackRock were to dump all their shares before Friday, it likely still wouldn't be enough because that's only 13% of GME. Michael Burry's Scion Capital owns around 5%, but I don't think Dr. Burry's going anywhere either, and the reason they're going to hold is the same reason Melvin is going to go down in flames, there's simply no stock left to buy and no indication that selling makes sense right now. The whole thing driving this is a massive buy-up of all available stock. No one wants to sell; everyone wants to buy. If Melvin Capital were a patient in a hospital, it'd be brain dead and on life support. We're just waiting for everyone involved to say their goodbyes so the plug can be pulled. At $90 a share, Melvin had to get a $2.75bn capital injection to stay afloat. That was the time to get out. They instead tried to force a sell-off so they could buy up cheap shares and reduce the bleeding. That failed. For roughly every $12 over $90, Melvin Capital lost $1 billion. Well at $348 a share, they're now negative $21.5bn in value. Its over. Their greed has resulted in their utter destruction. Once Melvin's corpse is wheeled out of the hospital, BlackRock and Burry might head for the exit, especially Burry, since he bought in at $4 a share, and a 5% stake there is such an enormous return even at $200, much less $348, that at some point, you're just being a greedy asshole. Some people on WSB a little more ruthless, and frankly with the BS that Wall Street has gotten away with for the past few decades, I can't say I blame them; they plan to hold till $1000, which hilarious and crazy as it sounds, may not be impossible, but I'd judge it unlikely. I'd say anyone that got in $GME before the huge price spike ($20 and lower), now's a good time to cash out. You won. Your lottery ticket hit all 6 numbers. Go live your life. To all the short-sellers, I can only bow and say, "We who are about to die, salute you."
  - bostonsre 6y ago
    Aren't you scared about massive bubbles that would happen without short sellers? I don't agree with shady behavior from short sellers, but I think it's kind of good to have the devils advocates in the market to fight against bubbles caused by the long side. And I don't know, it's all a gentleman's club, why only be angry at the short sellers? Or are they just a more easily exploited member of the establishment? (and not saying the comeuppance isn't warranted, I lean towards the side of the little guy in this)

motohagiography 6y ago

I'm going to respond because the conceit bears it. The people participating in perhaps this first known popular short squeeze have skin in the game. They don't care if they lose their bets. As they say, we've seen who you cheer for, your disapproval means nothing.

Bakary 6y ago
As someone with no skin in the game, I find the whole situation both amusing and satisfying. I'm genuinely happy for all the WSB users who can now retire. At the same time, it's still just people getting lucky/unlucky in the stock market. One Wall Street group got burned, but others made bank. At no point did the system change or become threatened in any way. Given all that, I don't understand why it is portrayed as some sort of heroic fight between good and evil.