P
postman
WeBull have allowed trading to restart on Gamestop, the price is rising ... FAST!
This gets more shady by the hour.So it looks like gamestonk has settled down to a stable price $232 ish.
I'm guessing the big boys have put their thinking caps on and have worked out a way to stabilise the price, probably just by buying put options which means the brokers dont need to hedge their exposure to the WSB call option freaks (I am one of them so I use the term advisedly).
Now its a waiting game, who will crack first. On the one hand you have fund managers that have taken $billion hits and are borrowing stock they dont have at a rate of interest (unknown). And on the other hand you have 4.9 million members who hate those fund managers with a passion you cannot believe and are writing things like.
If I can hold at -$10MM then you can hold too. (hes showing a $10m loss on the DAY!)
Dear hedge fund managers, CNBC, and the like, Guess what I did yesterday? Went to work then got drunk watching anime until 12am. Guess what I’ll do tomorrow if I loose all these gains? Not a goddamn thing different 💎🙌🚀🚀🚀
It's not about the money, it's about sending a message. 🚀💎🙌
GME YOLO $9,000,000 AND HOLDING! ✋💎🤚 We will not let them scare us. 🚀🚀🚀🚀
YOLO
And if you think these guys are making this up I've been watching them show their positions increasing daily. They dont care about the money its not about that! They are the Sparta generation, they are in it for the glory. This is THE most exciting thing that has happened to them (well when your stuck in your moms basement with a computer, some ramen noodles and a box of tissues what else are you going to do with your $600 stimulus cheque). They will not sell!
Eventually this will resolve probably with a massive melt up and heavy losses on both sides, but this is amazing to watch and the whole westernised trading world is. Oh and some Singapore traders are in on it too.
Well, I did promise a fun ride.the fun has only just begun
Had an account at ig for years but couldnt get my trade on... I opened an account at markets.com and get a trade done. Why are they still taking new gme trades but IG arent ??Robinhood restricts trading in GameStop, other names involved in frenzy
Free-trading pioneer Robinhood and Interactive Brokers took steps to curb the wild trading activity in heavily shorted names.www.cnbc.com
Had an account at ig for years but couldnt get my trade on... I opened an account at markets.com and get a trade done. Why are they still taking new gme trades but IG arent ??
A couple of possible reasons.Had an account at ig for years but couldnt get my trade on... I opened an account at markets.com and get a trade done. Why are they still taking new gme trades but IG arent ??
We were replying at the same time.I expect it has much to do with size of company. The larger more established companies will likely bow to regulator compliance directives and threats from big players, whereas the smaller providers are happy to increase their business and sod the consequences.
I think the worst possible outcome from this would be the hedge funds have to sell billions in other stocks to pay off their looses.
Holger Zschaepitz @Schuldensuehner
9h
The Reddit army has destroyed $3.7tn in global mkt cap this week, equal to the GDP of #Germany, as the Hedge Fund short squeeze creates contagion. Hedge Fund had to sell their long positions to fund their losses from short activities.
Losses on short positions in U.S. firms top $70 billion - Ortex data
Losses on short positions in U.S. firms top $70 billion - Ortex data
Short-sellers are sitting on estimated losses of $70.87 billion from their short positions in U.S. companies so far this year, data from financial data analytics firm Ortex showed on Thursday.www.reuters.com
SEVENTY $BILLION!!!
🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
Thats what happens when you sell a stock short with 140% of its shares.
🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
So yes a few shares were sold off Friday to cover those losses and I'm thinking a few more will get sold off some time next week. Hold on to your hats.