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I completely reject this both side thing. Every data point out there shows that these conspiracy theories are unfounded. Even the redditors who believe this non

by simias 5y ago

I completely reject this both side thing. Every data point out there shows that these conspiracy theories are unfounded. Even the redditors who believe this nonsense have debunked them themselves through their own experiments (the shareholder vote, the DRS thing) and they keep pushing the goalposts. There's no global conspiracy to hide shorts of GameStop. It's flat-earth level nonsense. The SEC report spelled everything out, I suggest reading it. >No one will know until all shares are registered So we'll never know, because it's obviously not going to happen. Retail doesn't even own half the shares, if redditors manage to hit 10M shares registered I'll be impressed. I really didn't expect to read this drivel on Hacker News frankly.

david927 5y ago
- bigram 5y ago
  - david927 5y ago
    Your account is only four hours old but you have a dozen comments in this thread, all of which are desperately pleading with people that the shorts covered, there's no squeeze possible. Smells desperate.
    - bigram 5y ago
- simias 5y ago
  It's been a year, every single prediction made by the weird GME cult has been disproven and they keep digging a deeper hole with ever more far-fetched and all-encompassing conspiracies. Textbook flat-earth nonsense. >If you honestly believe front-running doesn't happen This is also textbook conspiracy hogwash. "You really think that illegal things don't happen? How naive of you. Clearly that justifies our bonkers thesis about how millions of people around the world are conspiring to hide shorts for a single random stock". What does front running have to do with the insane theory that billions of short positions have been hidden for over a year now? Last year's price action was a short squeeze that morphed into a pump and dump as retail poured into it (fueled by boredom and stimulus checks at the start of the pandemic). Then some low cost brokers ran out of liquidity which forced them to disable the buying of the asset, which paradoxically probably saved a lot of retail customers who otherwise would've been holding much heavier bags if the pump-and-dump kept its momentum until even higher valuations. This plus the general (and probably warranted) anti-wallstreet sentiment gave rise to all sorts of conspiracy theories. That's it. Literally every single data point out there confirms this scenario. GameStop themselves said as much. The GME doomsday cult has been saying that the rapture (uh, sorry, "Mother of all short squeezes") was imminent based on ever more tenuous and far-fetched theories that always end up failing. >If you're not digesting what you read and your thought merely mirrors what you're told Top tier projection right there mate.
AutumnCurtain 5y ago
The DRS bot they use is also easily fooled. R/Gme_meltdown users regularly have false submissions accepted to prove the point.
- magic123_ 5y ago
  While this is totally true, let's not forget Gamestop themselves announced that a bit more than 5.2M shares were registered with Computer share at the time of their last earnings report, with the bot estimating something like 7 or 8M based on average shares per post * estimated holder, so not that far off
  - AutumnCurtain 5y ago
    That is hugely off, even if you assume 100% of the registered shares came from reddit, which would be a very silly assumption to make.
    - magic123_ 5y ago
      I see your point. My personal opinion is that sure the bot can't be trusted, but that when GME will give the updated numbers of registered shares, there will at least be 2 official data points on this subject... Depending on how high it is (only a minority of outside-of-the-US holders had been able to DRS as of October 30th, not the case anymore), we'll either get an estimation on when a full lock-up of the float would happen, or a new cycle of trying to find the next catalyst ¯\_(ツ)_/¯

by simias 5y ago

david927 5y ago

bigram 5y ago
- david927 5y ago
  Your account is only four hours old but you have a dozen comments in this thread, all of which are desperately pleading with people that the shorts covered, there's no squeeze possible. Smells desperate.
  - bigram 5y ago
simias 5y ago
It's been a year, every single prediction made by the weird GME cult has been disproven and they keep digging a deeper hole with ever more far-fetched and all-encompassing conspiracies. Textbook flat-earth nonsense. >If you honestly believe front-running doesn't happen This is also textbook conspiracy hogwash. "You really think that illegal things don't happen? How naive of you. Clearly that justifies our bonkers thesis about how millions of people around the world are conspiring to hide shorts for a single random stock". What does front running have to do with the insane theory that billions of short positions have been hidden for over a year now? Last year's price action was a short squeeze that morphed into a pump and dump as retail poured into it (fueled by boredom and stimulus checks at the start of the pandemic). Then some low cost brokers ran out of liquidity which forced them to disable the buying of the asset, which paradoxically probably saved a lot of retail customers who otherwise would've been holding much heavier bags if the pump-and-dump kept its momentum until even higher valuations. This plus the general (and probably warranted) anti-wallstreet sentiment gave rise to all sorts of conspiracy theories. That's it. Literally every single data point out there confirms this scenario. GameStop themselves said as much. The GME doomsday cult has been saying that the rapture (uh, sorry, "Mother of all short squeezes") was imminent based on ever more tenuous and far-fetched theories that always end up failing. >If you're not digesting what you read and your thought merely mirrors what you're told Top tier projection right there mate.

AutumnCurtain 5y ago

The DRS bot they use is also easily fooled. R/Gme_meltdown users regularly have false submissions accepted to prove the point.

magic123_ 5y ago
While this is totally true, let's not forget Gamestop themselves announced that a bit more than 5.2M shares were registered with Computer share at the time of their last earnings report, with the bot estimating something like 7 or 8M based on average shares per post * estimated holder, so not that far off
- AutumnCurtain 5y ago
  That is hugely off, even if you assume 100% of the registered shares came from reddit, which would be a very silly assumption to make.
  - magic123_ 5y ago
    I see your point. My personal opinion is that sure the bot can't be trusted, but that when GME will give the updated numbers of registered shares, there will at least be 2 official data points on this subject... Depending on how high it is (only a minority of outside-of-the-US holders had been able to DRS as of October 30th, not the case anymore), we'll either get an estimation on when a full lock-up of the float would happen, or a new cycle of trying to find the next catalyst ¯\_(ツ)_/¯