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You guys all seem to be painfully unaware that when Gamestops stock drops back to reality, the reality of a company that loses about 500mil a year with no relief in sight, then do you know what shows up?
Class action lawsuits.
Because there is now 21+ billion in market capitalization which is going to turn into less than half a billion by this time next year. People get mad when 20 billion dollars of investment goes *poof*. Remember Enron? It was a fraction of that.
Gee, you want to be involved in trading that? Welcome to the lawsuit.
P.S. I don't give a flying fudge about hedge fund managers, there are some people that are going to get REALLY hurt by this and I'm explaining why some brokerages may not want to embroil themselves in what is an obvious pit of litigation.
You guys all seem to be painfully unaware that when Gamestops stock drops back to reality, the reality of a company that loses about 500mil a year with no relief in sight, then do you know what shows up?
Class action lawsuits.
Because there is now 21+ billion in market capitalization which is going to turn into less than half a billion by this time next year. People get mad when 20 billion dollars of investment goes *poof*. Remember Enron? It was a fraction of that.
Gee, you want to be involved in trading that? Welcome to the lawsuit.
P.S. I don't give a flying fudge about hedge fund managers, there are some people that are going to get REALLY hurt by this and I'm explaining why some brokerages may not want to embroil themselves in what is an obvious pit of litigation.
Who is the SEC going after? I genuinely would like to know. What has happened is not clearly defined in the books with regard to market manipulation. If there is going to be a charge of market manipulation, I really would like to know the definitions and how these reddit everyday consumers fit the criteria.
Yeah, when Gamestock falls back down under $10....it won't be the rich that have been eaten...they're generally not that stupid.
True. it'll be the dupes who hopped on the "lets stick it to wall st" boat late, when the early movers are moving on that will be screwed.
The big hedge funds will still be around. Their managers will have to put off buying their 2nd yacht another year is all.
Yeah, when Gamestock falls back down under $10....it won't be the rich that have been eaten...they're generally not that stupid.
Voiceover: "But in this case, they were that stupid."
Well, mostly greedy, the stupidity was sort of a side effect. They're being eaten right now. When you do short selling, there's no theoretical ceiling (or is it a floor? Never mind) for what you can lose.
Some very, very rich people are right now losing billions covering their shorts. And in doing so, they have to buy the stock, driving the price higher.
Voiceover: "But in this case, they were that stupid."
Well, mostly greedy, the stupidity was sort of a side effect. They're being eaten right now. When you do short selling, there's no theoretical ceiling (or is it a floor? Never mind) for what you can lose.
Some very, very rich people are right now losing billions covering their shorts. And in doing so, they have to buy the stock, driving the price higher.
It’s like a game of chicken: who’s gonna dump first? I can’t stop watching this disaster in the making. Hashtag QuantTears
True. it'll be the dupes who hopped on the "lets stick it to wall st" boat late, when the early movers are moving on that will be screwed.
The big hedge funds will still be around. Their managers will have to put off buying their 2nd yacht another year is all.
We're talking billion-dollar losses. There are some investors who will be very upset.
It’s like a game of chicken: who’s gonna dump first? I can’t stop watching this disaster in the making. Hashtag QuantTears
We don't even have to wait. Giant companies are bleeding billions. Right now. Rented at 10, sold, planned on re-buying at 4. Now having to rebuy at 140.
Yeah, when Gamestock falls back down under $10....it won't be the rich that have been eaten...they're generally not that stupid.
Don't be so sure about that -- they were stupid enough to short 140% of GME's available stock, and some hedge funds have had to spend billions to cover their short positions. If it won't be the rich that have been eaten, it's largely due to the sheer magnitude of institutional power they wield to rig the game and crush the retail traders, not because they won their bet in a free, fair, transparent system.
Let's be perfectly candid about what we witnessed today: the hedge fund class are furious they were humiliated and outsmarted by the basement-dwelling ramen-eaters, and so today they rigged the system to reinforce the walls around their fiefdom and show the serfs who's in charge.
(if what i'm reading is correct) they shut down trading for the "common people" on those apps, but the hedge fund people can still trade? this could get bloody.
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