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GameStop shares soar more than 100% amid executive shuffle
- gvhst 6y agoNow the Reddit website is down. Is this related?
- anm89 6y agoWoah, reddit, is indeed timing out for me as well.
- fleshdaddy 6y agoIt must be. Wall Street bets grew to 8 million users after this whole GameStop thing, up from 1 million. They all probably hopped on to see what’s going on. Plus reddit is down more than any other website that popular that I know of.
- Jugglerofworlds 6y agoIronically old.reddit.com is working fine.
- SilasX 6y agoStill waiting for one sense in which the redesign is better for the user.
- slig 6y agoHas there been any case where a redesign of an app or website is actually better than the older version?
- mook 6y agoPeople generally seemed to like Windows 3.11 → Windows 95 I guess? Also Mozilla Suite → Firefox (though some people still prefer the old way). It's just that when things are actually improved people tend to not remember them.
- koolba 6y agoThe new site is much better because it’s so slow and user hostile you stop browsing Reddit entirely.
- postalrat 6y agoIt's better for advertisers.
- imron 6y agoNot ironic. Old.Reddit has always been fine.
- wongarsu 6y agoold.reddit.com works. Probably an influx people checking /r/wallstreetbets. Reddit being overwhelmed for a couple minutes seems like a daily occurance since forever, but wsb is really pushing their capacity at times.
- thinkingemote 6y ago> Probably an influx people checking /r/wallstreetbets. There's only 300K people reading that subreddit at the moment. During the peak earlier in the month it was over a million. (edits, refreshed 4 mins later and it's just under 500K). Also, for the conspiracy fans, notice that the majority of the rise (90 -> 199) has happened / is happening during post market hours when normal users (retail) cant do anything. 50->90 happened during normal trading hours.
- ericbarrett 6y agoMy guess is they have a “thundering herd” problem when a few critical threads get lots of traffic, and any workaround is still manual because it’s delicate surgery. Pure speculation however, I’ve no inside knowledge.
- doublerabbit 6y agoTheir webapp isn't exactly the greatest creation too, I feel sorry for the poor little servers that run that site.
- clarifier123 6y agoThat's unlikely, reddit is down all the time. They definitely have the worst uptime of all the major websites.
- cdiamand 6y agoI tried to determine this. And while I'm skeptical they brought the site down, there WAS a large uptick in comments on /r/wallstreetbets as the site went down. Still pulling in all the data from right before it went down. https://topstonks.com/blog/reddit-down https://topstonks.com/blog/reddit-down
- Jimmc414 6y agoYes. https://t.me/wallstreetbets https://t.me/wallstreetbets
- rjbwork 6y agoImagine you got fired from your company and the news made it double in value. Poor guy.
- roland35 6y agoIf the company he gets hired at immediately loses half of its value then I think we can say it was him for sure!
- Judgmentality 6y agoYou say this jokingly, but the last company he worked at lost 90% of its value while he was there.
- qaq 6y agoIs he on Citadel payroll ?
- loceng 6y agoIsn't that also potentially a signal he's hired for a specific reason - not necessarily to benefit all shareholders but perhaps extract as much as they can for certain parties like executives? It still boggles my mind that Sears, with their Sears catalogue and name recognition - and tons of store locations until fairly recently - could never pivot online, where they already had distribution centres..
- castlecrasher2 6y agoThe news was known before the surge; I don't think they're entirely related.
- vardaro 6y agoHe got something like a 30m severance. He'll live
- gremlinsinc 6y agoI don't know.... Most people would blow through that in a week, two at the most. /s
- nthitz 6y agoI don't quite understand, the announcement about the executive was made on Tuesday, but this gain didn't happen until the final hour or two of trading today.
- WJW 6y agoIt's probably a mistake to read much into these things when it comes to Gamestop. It's not about the fundamentals, it's about when /r/wallstreetbets notices and is collectively feeling up for it.
- fleshdaddy 6y agoI don’t know it was definitely noticed when it happened and honestly I have a hard time believing it could be more hyped up than these last couple of days.
- cat199 6y agowallstreetbets has been feeling up to it irrespective, and the mgmt change was definitely noticed there way earlier than near-close/after-hours, which is when the last ~$150 of the current $180 ticker gained..
- gct 6y agoYou have to grok how financial reporting works. They said _amid_ executive shuffle, not _because_.
- hahahahe 6y agoWeekly option expiry. They waited until Thursday afternoon. Plus Ryan Cohen’s tweet.
- travv0 6y agoI got pretty excited when you made me think it was Thursday afternoon.
- 6y ago
- yibg 6y agoAMC is started going up around the same time, although at a lower magnitude.
- iso1631 6y agoI like the stock
- burgerquizz 6y agoi'm not a cat
- Judgmentality 6y agoWhen I was a young boy in Bulgaria
- kpkpkpkpkpkp 6y agoyes or no
- uberdru 6y agoReddit has zero impact on $GME volatility. If any of you were around for the 2009 shenanigans, you'll understand.
- A12-B 6y agoI'm sorry I wasn't around, could you please explain why?
- vardaro 6y agoPretty sure he's clarifying that retail flow has negligible effects on the markets. Institutional money moves stocks, retail investors are just along for the ride.
- A12-B 6y agoNot that I don't believe that, but where's the proof?
- witherk 6y agoI'm not sure where these guys are getting their numbers, retail investors make up about 25% of the market. Not the dominant force, but also not exactly negligible. https://markets.businessinsider.com/news/stocks/retail-investors-quarter-of-stock-market-coronavirus-volatility-trading-citadel-2020-7-1029382035 https://markets.businessinsider.com/news/stocks/retail-inves...
- kurikuri 6y agoWhat does 2009 have to do with GME?
- DevKoala 6y agoIt doesn’t seem like this is the correct reason. I feel the recent short had more of an impact: https://old.reddit.com/r/wallstreetbets/comments/lrlmqx/14_million_more_gme_shares_have_been_borrowed/ https://old.reddit.com/r/wallstreetbets/comments/lrlmqx/14_m...
- thinkingemote 6y agoIt went from 44 to 91 and then in post market from 91 to a peak of 199 (currently at 150)
- viklove 6y agoI had a limit sell order sitting at 210 from the insanity a few weeks ago, honestly glad it didn't get hit. The amusement I'm getting from having my stake is honestly worth what I paid by itself.
- lethologica 6y agoStocks as entertainment. What a concept.
- jobigoud 6y agoIsn't it well known that trying to make money on the stock market is mostly gambling? You can do all sorts of analysis but in the end it's a hobby.
- whatisithis 6y agoAmusing? Are you joking or really serious? If you are indeed serrious, I am really curious to know how old you are.
- viklove 6y agoYes I'm serious, I'm 26 if it makes a difference. More than $50 million worth of GameStop stock was shorted today. When there are people out there taking such risky positions, proving them wrong and taking their money -- and even the prospect of doing so -- is extremely amusing. I stand to lose a few thousand dollars. Whoever is on the other side of this transaction stands to lose hundreds of millions, if not billions. The competitive aspect of it makes it exciting. The rest of my portfolio is not nearly as interesting, not even the crypto.
- 6y ago
- secondcoming 6y agoI sold at $60. Go me.
- redisman 6y agoWhat did you buy at? This is pure gambling so doesn't really matter as long as you got something out
- aye01 6y agothis is straight bananas
- hikerclimber 6y ago50% of options trading is luck. robinhood is just to reduce risk.
- locusofself 6y agoI got pretty lucky with this stock. Bought at 144, sold at 470 in the last rally. Bought back in at 45, sold at 69 today. Wish I set my limit sell to much higher, I didn't know it was going to rally so hard again.
- xyst 6y agopaper handing at $69. should have gone with call options. more potential for gainz fyi 167 in the after hours
- locusofself 6y agototally. It was a limit sell from days ago, I was banking on some volatility but didn't think it would necessarily soar again.
- vmception 6y agothe options are still too expensive. they are over half the price of buying the shares and they’ve been up to 90% of the share price. I actually love how the option spread sellers havent said anything and been flying under the radar but making the most week after week
- mizzack 6y agoIV shot to like 900% this afternoon. e.g. 3:37PM, $GME trading at ~$73. 2/26 $80c were around $14. Which would you rather have? ~19 shares of GME @ $168 = $3,192 currently 1 2/27 $80c @ $168 = $1400 premium + $7400 intrinsic = ~$8,800 currently I know which one I would grab, so long as you could promise me it would keep going up :)
- vmception 6y agoalways compare 100 shares, the size of the option contract
- 6y ago
- undefined1 6y agohere we go again. "Tomorrow we’ll be doing an upgrade to our systems. Buying in some stocks might be limited. Sorry for the inconvenience." https://twitter.com/TradeRobinhood/status/1364690093634650115 https://twitter.com/TradeRobinhood/status/136469009363465011... edit: oops, that's a fake account! sorry, disregard.
- tyingq 6y agoIs there a consensus of who will be holding the bag when all of this stops and it drops back down?
- endisneigh 6y agoretail investors mainly - maybe likely some hedge funds on the wrong side of this as well.
- c2k 6y agoThe price would have soared even higher, but there was a unusual long trade halt until after hours began. https://www.nasdaqtrader.com/trader.aspx?id=TradeHalts# https://www.nasdaqtrader.com/trader.aspx?id=TradeHalts#
- deleted 6y ago[deleted]