6 ms·

The Whole Messy, Ridiculous GameStop Saga in One Sentence

15 points by CapitalistCartr 6y ago

trollski 6y ago
why not make that sentece the title and be done?
gnatman 6y ago
The titular sentence does not deliver.
- Wowfunhappy 6y ago
  I thought it was pretty good, actually. > The GameStop saga is a ludicrous stock mania born of pandemic boredom and FOMO, piggybacking off of a clever Reddit revenge plot, which targeted hedge funds, who made a reckless bet on a struggling retailer—and it’s going to end with lots of people losing incredible amounts of money.
  - mey 6y ago
    Only thing it's missing is the people profiting of the pump (early boosters) and it sounds like Citadel who could sit in a favorable position in the margins handling execution. https://www.wsj.com/articles/gamestop-frenzy-puts-spotlight-on-trading-giant-citadel-securities-11612089000 https://www.wsj.com/articles/gamestop-frenzy-puts-spotlight-...
  - Tenoke 6y ago
    The pandemic boredom was a minor part - WSB have been doing plays from before and steadily growing. The revenge plot piggybacked off the initial play. It also misses on key parts.
- jackfoxy 6y ago
  Oh, actually it does deliver the message the MSM lackeys of the establishment are spreading. It was lacking the racism/alt-right component, but that message is targeted for a more specific echo chamber.
  - jackfoxy 6y ago
    Ok, yeah, I broke the rules. The guy has to make a living. And I am always sympathetic to that. But consider the publication that published this.
Melting_Harps 6y ago
I take back what I said about Gamestop being low on the need to investigate by the regulators last week. I don't make a habit of gambling and throwing my money or life away so I avoid the stock market, but this is now starting to seem like uncvoering a massive naked short sale racket by the hedge funds that is making them have to liquidate their short positions in so many other just one GME alone. Also the way that ameritrade, robinhood etc... halted trading of the stock makes it clear that their was collusion from Citadel after they were squeezed, and was obviously so in the case of Robinhood who had to ask for a line of credit to avoid insolvency. WSB is now living up to its true potential that some of us in the Bitcoin community always wanted to see and now its not about 'tendies' and 'loss porn' anymore, they're seeing in real time how absolutely rigged this system is and are out for blood, specifically Melvin Capital's and Robinhood's who they already have a class action lawsuit against.
- deleted 6y ago
  [deleted]
- Tenoke 6y ago
  >Also the way that ameritrade, robinhood etc... halted trading of the stock makes it clear that their was collusion from Citadel after they were squeezed, and was obviously so in the case of Robinhood who had to ask for a line of credit to avoid insolvency. If you say this is clear but your comment doesn't include "clearing house" or related in it, you are likely getting a limited and biased perspective on what happened.
  - Melting_Harps 6y ago
    > If you say this is clear but your comment doesn't include "clearing house" or related in it, you are likely getting a limited and biased perspective on what happened. Ok, fill me in then... I got this from Chamath's analysis, speaking to an early investor of Robinhood (Jason) in the all in podcast, but go ahead and and tell us what caveats I missed out for all of our collective edification.
- deleted 6y ago
  [deleted]
PartiallyTyped 6y ago
Nonononononono. Let's get some things straight because the volume of disinformation regarding WSB is enormous and keeps spreading at a rate worse than covid, and the amount of BS i have read even here is just mind boggling. RoaringKitty/ DeepFuckingValue simply observed that GME had value, did his due diligence, talked about it/presented his thesis on youtube and reddit a myriad of times and there are other thesis as well backing him up [1]. The short squeeze had nothing to do with it. When I joined in I didn't know what a short squeeze was, I read the thesis and it made sense to me, so much so, that I found additional paths based on observation that further increased GME's odds of rebound. The squeezing was not orchestrated by any single entity. WSB is not a collective, it is not a 'group', there are no hierarchies, nor master minds. Here is how WSB operates: A user does some due diligence (DD), and decides that X is a great investment opportunity because there is value (this is what DFV did). Any user is allowed to comment or refute said DD. In the end, none of it is financial advice, it is nothing more than, hey this is interesting take a look. All of this is based on public information that anyone and everyone is allowed to access. We don't do insider trading like the politicians or HFs. Then during the summer somebody realized that it was actually possible to achieve a short squeeze simply because certain companies overshorted the stock [2]. The user presented the thesis and again, anyone was allowed to refute or argue about it. Again, none is financial advice. Over the next weeks people read more about it and decided that it was a good idea to join in, simply because Ryan Cohen went on board and there were some other catalysts as well. While all of this was happening. WSB was vilified, ridiculed, attacked, and subject to FUD [3]. If you read anything about WSB from anyone. Assume you have been duped, and that includes my comment as well, see for yourselves [4,5]. All we do is literally bet on stocks based on publicly available information. The fact that the media has attacked and vilified the proletariat with nothing to lose instead of those with billions and everything to lose suggests there is more to the story than a bunch of fiscally irresponsible and self proclaimed retards and autists tanking the market [6,7,8,9]. [1] https://gmedd.com https://gmedd.com [2] http://isthesqueezesquoze.com/ http://isthesqueezesquoze.com/ (includes numbers, read up) [3] https://www.reddit.com/r/wallstreetbets/comments/l9auf5/important_gme_short_attack_tactics_predicted_in/ https://www.reddit.com/r/wallstreetbets/comments/l9auf5/impo... [4] reddit.com/r/wallstreetbets Some examples of due diligence [5] https://www.reddit.com/r/wallstreetbets/search/?sort=top&q=flair%3ADD&restrict_sr=on https://www.reddit.com/r/wallstreetbets/search/?sort=top&q=f... [6] https://www.wsj.com/articles/melvin-capital-lost-53-in-january-hurt-by-gamestop-and-other-bets-11612103117 https://www.wsj.com/articles/melvin-capital-lost-53-in-janua... Tin foil hat for this one: [7] https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/ https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_... A recap of the story by one of the og mods of WSB [8] https://www.buzzsprout.com/1657678/7585834 https://www.buzzsprout.com/1657678/7585834 Bad day eh. [9] https://www.reddit.com/r/wallstreetbets/comments/l9czx4/this_is_what_covering_their_ass_looks_like/ https://www.reddit.com/r/wallstreetbets/comments/l9czx4/this... Some interesting reads, to see for yourselves: WSB in a nutshell: https://www.reddit.com/r/wallstreetbets/comments/l9c1ca/wsb_in_a_nutshell/ https://www.reddit.com/r/wallstreetbets/comments/l9c1ca/wsb_... FOR EVERYONE THAT JUST JOINED BECAUSE OF $GME AND DONT KNOW WTF IS GOING ON: https://www.reddit.com/r/wallstreetbets/comments/l9cz1k/for_everyone_that_just_joined_because_of_gme_and/ https://www.reddit.com/r/wallstreetbets/comments/l9cz1k/for_... The real reason Wall Street is terrified of the GME situation https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/ https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_... $GME price has nothing to do with fundamentals and everything to do with financial economics https://www.reddit.com/r/wallstreetbets/comments/l6u96y/gme_price_has_nothing_to_do_with_fundamentals_and/ https://www.reddit.com/r/wallstreetbets/comments/l6u96y/gme_...
soared 6y ago
I don't really think you can just glaze over the fact that DFV/roaring kitty's legitimate investment was (by design) co-opted by WSB. Its curious that these articles come out without looking at how $GME started. DFV is an educated investor with certifications and industry experience. He identified $GME 6 months ago and spent hundreds of hours researching and proving his point. His youtube channel has hours and hours of content, and thoroughly explains his philosophy and tools. The start of the saga is the content he created which built the flame. Skipping over that section is missing a huge piece of the story.
- jwond 6y ago
  > He identified $GME 6 months ago He identified it over a year ago actually: https://reddit.com/r/wallstreetbets/comments/d1g7x0/hey_burry_thanks_a_lot_for_jacking_up_my_cost/ https://reddit.com/r/wallstreetbets/comments/d1g7x0/hey_burr...
- MuffinFlavored 6y ago
  Do we have any idea on DFV’s net worth before this $13m (realized), $48m+ outstanding GME trade? If he was smart enough to call this one out a year ago, was he already a millionaire from having been able to call similarly high returning trades throughout time?
  - soared 6y ago
    In one of his videos he’s talks about this and says he’s not rich and the 50k gme was a true yolo. He says something like “I rent my house” etc. I believe gme was 2% of the roaring kitty portfolio.

trollski 6y ago

why not make that sentece the title and be done?

gnatman 6y ago

The titular sentence does not deliver.

Wowfunhappy 6y ago
I thought it was pretty good, actually. > The GameStop saga is a ludicrous stock mania born of pandemic boredom and FOMO, piggybacking off of a clever Reddit revenge plot, which targeted hedge funds, who made a reckless bet on a struggling retailer—and it’s going to end with lots of people losing incredible amounts of money.
- mey 6y ago
  Only thing it's missing is the people profiting of the pump (early boosters) and it sounds like Citadel who could sit in a favorable position in the margins handling execution. https://www.wsj.com/articles/gamestop-frenzy-puts-spotlight-on-trading-giant-citadel-securities-11612089000 https://www.wsj.com/articles/gamestop-frenzy-puts-spotlight-...
- Tenoke 6y ago
  The pandemic boredom was a minor part - WSB have been doing plays from before and steadily growing. The revenge plot piggybacked off the initial play. It also misses on key parts.
jackfoxy 6y ago
Oh, actually it does deliver the message the MSM lackeys of the establishment are spreading. It was lacking the racism/alt-right component, but that message is targeted for a more specific echo chamber.
- jackfoxy 6y ago
  Ok, yeah, I broke the rules. The guy has to make a living. And I am always sympathetic to that. But consider the publication that published this.

Melting_Harps 6y ago

I take back what I said about Gamestop being low on the need to investigate by the regulators last week. I don't make a habit of gambling and throwing my money or life away so I avoid the stock market, but this is now starting to seem like uncvoering a massive naked short sale racket by the hedge funds that is making them have to liquidate their short positions in so many other just one GME alone. Also the way that ameritrade, robinhood etc... halted trading of the stock makes it clear that their was collusion from Citadel after they were squeezed, and was obviously so in the case of Robinhood who had to ask for a line of credit to avoid insolvency. WSB is now living up to its true potential that some of us in the Bitcoin community always wanted to see and now its not about 'tendies' and 'loss porn' anymore, they're seeing in real time how absolutely rigged this system is and are out for blood, specifically Melvin Capital's and Robinhood's who they already have a class action lawsuit against.

deleted 6y ago
[deleted]
Tenoke 6y ago
>Also the way that ameritrade, robinhood etc... halted trading of the stock makes it clear that their was collusion from Citadel after they were squeezed, and was obviously so in the case of Robinhood who had to ask for a line of credit to avoid insolvency. If you say this is clear but your comment doesn't include "clearing house" or related in it, you are likely getting a limited and biased perspective on what happened.
- Melting_Harps 6y ago
  > If you say this is clear but your comment doesn't include "clearing house" or related in it, you are likely getting a limited and biased perspective on what happened. Ok, fill me in then... I got this from Chamath's analysis, speaking to an early investor of Robinhood (Jason) in the all in podcast, but go ahead and and tell us what caveats I missed out for all of our collective edification.
deleted 6y ago
[deleted]

PartiallyTyped 6y ago

Nonononononono. Let's get some things straight because the volume of disinformation regarding WSB is enormous and keeps spreading at a rate worse than covid, and the amount of BS i have read even here is just mind boggling. RoaringKitty/ DeepFuckingValue simply observed that GME had value, did his due diligence, talked about it/presented his thesis on youtube and reddit a myriad of times and there are other thesis as well backing him up [1]. The short squeeze had nothing to do with it. When I joined in I didn't know what a short squeeze was, I read the thesis and it made sense to me, so much so, that I found additional paths based on observation that further increased GME's odds of rebound. The squeezing was not orchestrated by any single entity. WSB is not a collective, it is not a 'group', there are no hierarchies, nor master minds. Here is how WSB operates: A user does some due diligence (DD), and decides that X is a great investment opportunity because there is value (this is what DFV did). Any user is allowed to comment or refute said DD. In the end, none of it is financial advice, it is nothing more than, hey this is interesting take a look. All of this is based on public information that anyone and everyone is allowed to access. We don't do insider trading like the politicians or HFs. Then during the summer somebody realized that it was actually possible to achieve a short squeeze simply because certain companies overshorted the stock [2]. The user presented the thesis and again, anyone was allowed to refute or argue about it. Again, none is financial advice. Over the next weeks people read more about it and decided that it was a good idea to join in, simply because Ryan Cohen went on board and there were some other catalysts as well. While all of this was happening. WSB was vilified, ridiculed, attacked, and subject to FUD [3]. If you read anything about WSB from anyone. Assume you have been duped, and that includes my comment as well, see for yourselves [4,5]. All we do is literally bet on stocks based on publicly available information. The fact that the media has attacked and vilified the proletariat with nothing to lose instead of those with billions and everything to lose suggests there is more to the story than a bunch of fiscally irresponsible and self proclaimed retards and autists tanking the market [6,7,8,9]. [1] https://gmedd.com https://gmedd.com [2] http://isthesqueezesquoze.com/ http://isthesqueezesquoze.com/ (includes numbers, read up) [3] https://www.reddit.com/r/wallstreetbets/comments/l9auf5/important_gme_short_attack_tactics_predicted_in/ https://www.reddit.com/r/wallstreetbets/comments/l9auf5/impo... [4] reddit.com/r/wallstreetbets Some examples of due diligence [5] https://www.reddit.com/r/wallstreetbets/search/?sort=top&q=flair%3ADD&restrict_sr=on https://www.reddit.com/r/wallstreetbets/search/?sort=top&q=f... [6] https://www.wsj.com/articles/melvin-capital-lost-53-in-january-hurt-by-gamestop-and-other-bets-11612103117 https://www.wsj.com/articles/melvin-capital-lost-53-in-janua... Tin foil hat for this one: [7] https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/ https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_... A recap of the story by one of the og mods of WSB [8] https://www.buzzsprout.com/1657678/7585834 https://www.buzzsprout.com/1657678/7585834 Bad day eh. [9] https://www.reddit.com/r/wallstreetbets/comments/l9czx4/this_is_what_covering_their_ass_looks_like/ https://www.reddit.com/r/wallstreetbets/comments/l9czx4/this... Some interesting reads, to see for yourselves: WSB in a nutshell: https://www.reddit.com/r/wallstreetbets/comments/l9c1ca/wsb_in_a_nutshell/ https://www.reddit.com/r/wallstreetbets/comments/l9c1ca/wsb_... FOR EVERYONE THAT JUST JOINED BECAUSE OF $GME AND DONT KNOW WTF IS GOING ON: https://www.reddit.com/r/wallstreetbets/comments/l9cz1k/for_everyone_that_just_joined_because_of_gme_and/ https://www.reddit.com/r/wallstreetbets/comments/l9cz1k/for_... The real reason Wall Street is terrified of the GME situation https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/ https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_... $GME price has nothing to do with fundamentals and everything to do with financial economics https://www.reddit.com/r/wallstreetbets/comments/l6u96y/gme_price_has_nothing_to_do_with_fundamentals_and/ https://www.reddit.com/r/wallstreetbets/comments/l6u96y/gme_...

soared 6y ago

I don't really think you can just glaze over the fact that DFV/roaring kitty's legitimate investment was (by design) co-opted by WSB. Its curious that these articles come out without looking at how $GME started. DFV is an educated investor with certifications and industry experience. He identified $GME 6 months ago and spent hundreds of hours researching and proving his point. His youtube channel has hours and hours of content, and thoroughly explains his philosophy and tools. The start of the saga is the content he created which built the flame. Skipping over that section is missing a huge piece of the story.

jwond 6y ago
> He identified $GME 6 months ago He identified it over a year ago actually: https://reddit.com/r/wallstreetbets/comments/d1g7x0/hey_burry_thanks_a_lot_for_jacking_up_my_cost/ https://reddit.com/r/wallstreetbets/comments/d1g7x0/hey_burr...
MuffinFlavored 6y ago
Do we have any idea on DFV’s net worth before this $13m (realized), $48m+ outstanding GME trade? If he was smart enough to call this one out a year ago, was he already a millionaire from having been able to call similarly high returning trades throughout time?
- soared 6y ago
  In one of his videos he’s talks about this and says he’s not rich and the 50k gme was a true yolo. He says something like “I rent my house” etc. I believe gme was 2% of the roaring kitty portfolio.