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Old 06-27-2016, 11:23 AM  
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Old 01-28-2021, 09:50 AM   #6811
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We're talking about thousands of people, so concluding what "they" want is pretty tough. The subreddit itself is all about taking huge risks in hopes of huge payouts, so that's probably where it started - force the shorts to sell so that the price goes up and everyone can dump at the top.

Somewhere along the way, they realized that doing so would cause huge damage to a couple of hedge funds, and many believe such organizations to be at the root cause of a lot of economic problems, so some probably hopped on in hopes of sticking it to the man.

Then it got momentum, and you have random Joe's who don't really have any idea what they're doing but jumped on because they see people posting how much money they've "made." Eventually, the bottom is going to drop out, and it'll likely be these types that will get screwed.

So from my perspective, it's a little of everything.
I'm wondering if there's a handful of leaders of this cabal. Pied Pipers so to speak with lot's of cash to work with who are stringing this along. This is supposed to be the little guys doing this but I have my doubts it's just them.
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Old 01-28-2021, 09:53 AM   #6812
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I'm wondering if there's a handful of leaders of this cabal. Pied Pipers so to speak with lot's of cash to work with who are stringing this along. This is supposed to be the little guys doing this but I have my doubts it's just them.
The initiator of all of this is a user on WSB named u/deep****ingvalue.
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Old 01-28-2021, 09:54 AM   #6813
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I dont claim to be market saavy but a guy i work with had 1001 dogecoins that he bought for less than 3$ a long time ago, now robin hood is locked up and wont let him buy or sell it wtf.
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Old 01-28-2021, 10:00 AM   #6814
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I'm wondering if there's a handful of leaders of this cabal. Pied Pipers so to speak with lot's of cash to work with who are stringing this along. This is supposed to be the little guys doing this but I have my doubts it's just them.
I don't think so, although you could maybe argue the guy who did the calls that are now worth 40 million or whatever certainly helped stoked the fires. But smart people with alot of money have surely cashed in big time here riding the wave. WSB isn't big enough to drive the price up 500 bucks in a week. That requires huge amounts of money and trades.

The fact is that this isn't the first stock that is over valued and a bunch of people just decided it should be worth that much. Tesla is up 600 bucks over what, six months? With no new products and they actually missed their most recent projections. Doesn't matter because of the people that just randomly decided it was cool to own tesla. FOMO and hype are the new get rich quick things in the market place, and gamestop won't be the last.
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Old 01-28-2021, 10:07 AM   #6815
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This is the craziest shit Ive seen in my lifetime. Robinhood is likely ****ed.
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Old 01-28-2021, 10:16 AM   #6816
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Originally Posted by DaFace View Post
We're talking about thousands of people, so concluding what "they" want is pretty tough. The subreddit itself is all about taking huge risks in hopes of huge payouts, so that's probably where it started - force the shorts to sell so that the price goes up and everyone can dump at the top.

Somewhere along the way, they realized that doing so would cause huge damage to a couple of hedge funds, and many believe such organizations to be at the root cause of a lot of economic problems, so some probably hopped on in hopes of sticking it to the man.

Then it got momentum, and you have random Joe's who don't really have any idea what they're doing but jumped on because they see people posting how much money they've "made." Eventually, the bottom is going to drop out, and it'll likely be these types that will get screwed.

So from my perspective, it's a little of everything.
This was never going to end well for the vast majority of retail traders in this situation.
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Old 01-28-2021, 10:17 AM   #6817
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GME just cratered

Currently, according to TDAmeritrade,

Bid - 48.09
Buy - 2000
Price - 126.01

Its down $221 with a volume if 25m.

Man I feel bad for anybody hold the bag on that shit.
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Old 01-28-2021, 10:22 AM   #6818
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Originally Posted by tatorhog View Post
GME just cratered

Currently, according to TDAmeritrade,

Bid - 48.09
Buy - 2000
Price - 126.01

Its down $221 with a volume if 25m.

Man I feel bad for anybody hold the bag on that shit.
The irony is that there are probably hedge funds who shorted the shit out of it yesterday and are going to make a fortune on this.
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Old 01-28-2021, 10:23 AM   #6819
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Of course it cratered. They restricted people from being able to buy.
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Old 01-28-2021, 10:24 AM   #6820
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Reddit crashes when you try to load WSB. I'm guessing people are freaking the **** out right now. The aftermath of this is going to be something to see.
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Old 01-28-2021, 10:25 AM   #6821
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Gonna be a fun lawsuit to watch.
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Old 01-28-2021, 10:25 AM   #6822
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The irony is that there are probably hedge funds who shorted the shit out of it yesterday and are going to make a fortune on this.
I don't fully get the concept of shorting, but from what I understand if they survived that giant wave going up, then yeah they probably are rolling this very second.

Somebody, somewhere just lost everything they ever had and planned to have though. Damn
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Old 01-28-2021, 10:29 AM   #6823
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I don't fully get the concept of shorting, but from what I understand if they survived that giant wave going up, then yeah they probably are rolling this very second.

Somebody, somewhere just lost everything they ever had and planned to have though. Damn
This was always a gamble and anyone who put their life savings in is a dumb ass. Exposed how the system is rigged though.
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Old 01-28-2021, 10:29 AM   #6824
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I don't fully get the concept of shorting, but from what I understand if they survived that giant wave going up, then yeah they probably are rolling this very second.

Somebody, somewhere just lost everything they ever had and planned to have though. Damn
The mechanism is complicated, but the function is pretty simple. Shorting basically works the opposite of a normal buy. If the price goes up, your value goes down, and vice versa.

If someone was already shorting the stock at $15 or whatever, they're still hurting right now (and probably will be for a while). But if someone got in at $400 yesterday, they're going to be rolling soon.
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Old 01-28-2021, 10:32 AM   #6825
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