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Folding Ideas (of Line Goes Up and In Search of a Flat Earth fame) had a video on the Gamestop meme stock here: https://www.youtube.com/watch?v=5pYeoZaoWrA http
by jcranmer 2y ago
Folding Ideas (of Line Goes Up and In Search of a Flat Earth fame) had a video on the Gamestop meme stock here: https://www.youtube.com/watch?v=5pYeoZaoWrA https://www.youtube.com/watch?v=5pYeoZaoWrA
Apparently, the people still holding Gamestop have devolved into absolute insanity, somehow believing that the Mother of All Short Squeezes hasn't happened yet, and they need to hold on for dear life to perpetuate the short squeeze, which will cause absolute financial calamity as the Federal Reserve will pay those people millions of dollars per share to bail out the hedge funds.
These are the people who are helping to prop up the share price.
- Lionga 2y ago[flagged]
- HackerHustler 2y agoBingo
- tptacek 2y agoYou made that money by taking advantage of other people exactly like you. You could do the same thing at a casino and it would be less morally fraught (and about as reliable).
- Lionga 2y agoMoney was of dumb shorts that got liquidated today. Not people like me, wether theses are hedge funds or small time wanna be traders i don't care. So smart to sell something you don't own and take on a potential unlimited loss. But yeha I am very morally fraught for buying and selling a stock, not people selling something they don't even have.
- kasey_junk 2y agoHonestly curious, have you closed out your GameStop position or are you marking to market your shares?
- Lionga 2y agoSold about half yesterday at 75$. Will let the rest ride, or buy in again if it drops to low. Did the same little game 5 times over the last 3 years, made 7 figures.
- kasey_junk 2y agoSo that’s not really a mother of all shorts play right? You have some other thesis about when to get in and out otherwise each of your sells works against the broader short squeeze. Sounds like you are doing a pretty traditional volatility trade with occasional profit taking. Will be curious what the total return will be once you close out the position totally.
- Lionga 2y agoPeople who think that GME will sell for "phone numbers as price" (gov / brokers / SEC will step in before, tiny, tiny chance it might happen if they would not) are about as dumb as people who think everything is cool and normal with GME. Profit for now is seven figures, we will see.