Gamestop stock going through the roof.

It went up 189.99 today alone?

I heard that reddit trolls were helping this? incredible.

Reddit vs Wall Street. Suck it short sellers!

@sheevpalpamemes: yeah is pretty hilarious.

I went and had a look, as I figured I would pick up a few puts (contract that pays if the stock goes down essentially) for a month or two out.

It was tens of thousands of dollars for one contract at a strike price of around $280? LOL.

For comparison, something that far out with that price delta between stock price and strike price would normally be between $100 and maybe $500.

I opted to just stay out completely lol.

Apparently it's from Day Hedging and they might restrict trading on it for a month.

Are these the same guys who bought up all them bitcoins?

That won't last. It's in a bottlerocket state right now, all because Elon Musk said something about Gamestop.

Tried to short the stocks, only they got bought up by randoms and hedges are now scrambling to buy back those stocks, except now people aren't selling or the hedges are buying at heightened prices and losing plenty of money. Some are expected to declare bankruptcy.

This'll crash, and trading apps and services are barring plenty of people from accessing accounts or buying certain stocks (Nokia/Gamestop/AMC).

Far better way to stick it to the 1% than destroying their insured property :P

According to my wife, we have GME in our portfolio. Glad to have taken part.

nah Elon just came to the party later, not surprised considering the guy behind the hedge doing the short on GME was also shorting Tesla earlier lol

@howmakewood: Regardless at what point he came in, the fact that was the news article I originally read shows he might have further influenced this boom.

Either way I'm seeing a bottlerocket and investors should steer clear.

Don't fall for it.

2021 is already crazier than 2020.

I don't remember who it was being interviewed, but back in 2008 an economist said that $12 trillion had essentially disappeared from the market. The interviewer asked where the money went. The economist replied that the stock market is a work of fiction.

Best financial advice I ever heard.

hoping GS will be haveing more xbox serie x,s,ps5 in stock soon.

Dunno about that.

It definitely is; nothing really happened in January 2020, but in 2021 we've already seen the government, big tech, and Wall street try to silence and disconnect the masses. The moon is coming.

Crazy to see the centralized effort by Wall Street to stop this.

Also, got in at $289 this morning, got out at $400, a quick $111 a share win.

robinhood and them are getting sued for stock manipulation.

@Fuhrer_D: a war with Iran almost started, I wouldn't call that nothing

Welp, this should dispel any remaining doubts about who actually is in charge in the USA.

Capitalism for all! Except Socialism for the Wall street folks when they're losing by the rules of Capitalism.

Someone is likely going to profit selling high, but GameStop probably won't be better off when this is over, or the amateur investors.

If I want to start my own stock market, I need to try that Robinhood app I keep hearing about. Get the Robinhood app, setup an account, watch a tutorial on YouTube and then go to reddit/wallstreetbets🤑🤑🤑

@davillain-: can this be stickied since its exploding everywhere and is the main story on gamestop?

@sheevpalpamemes: Sticky threads only works if more than 4/5 users make the same thread on a popular game...but not for gaming news and sadly this isn't one of them.

I saw RobinHood is now forcing sales without permission from investors and the owners of accounts, and for low of the day. One user had 4500 shares and they forced the sale at $118. This is gonna end in lawsuits out the wazoo.

Roger that.

The line was not held, journos simping for billionaires, price dropping, Robinhood is on sell only. Hate to see this end because of brokerages rather than natural market forces, but it was fun while it lasted.

Incorrect. Robinhood sold shares without people's knowledge. It's banned in the US right now but not in other countries, that's why it's rising currently again in future trading.

@lundy86_4: "I saw RobinHood is now forcing sales without permission from investors and the owners of accounts, and for low of the day. One user had 4500 shares and they forced the sale at $118. This is gonna end in lawsuits out the wazoo."

After that one guy killed himself after losing all his money on the app because he didn't know what he was doing, I would say they are probably taking steps to prevent their users from making similar mistakes.

Whilst very possible, the inner workings are becoming more and more visible now, and these billionaires are getting screwed over. The stock also dropped heavily, which could imply hedges selling off more shares to crash the price, or these forced-sales being significant enough to drop the price.

At the end of the day, this shit is crazy, and watching a billionaire start crying on TV is just icing on the cake. "Rules for thee, but not for me" and all that.

Class-actions also being filed against RobinHood now in relation to limiting sales and undoubtedly forced-sales will be added or filed separately.

@lundy86_4: I think anybody thinking they are playing into some kind of class revolt are likely just getting played

It's the investment class not the working class that probably came out of this handsomely, hell I wouldn't put it past them for having orchestrated some astroturf movement and cashing in when the working class put their money in these stocks

As dumb as this is, the whole RH run up was exclusively due to institutional corruption. I'm happy internet kids are making hundreds of thousands at the expense of hedge funds. Like a weird form of wealth redistribution. And yeah, blocking people from buying is market manipulation and beyond criminal. Let the free market sort this out IMO.

Robinhood should change their name. Robin Hood Robbed from the rich and have to the poor, they should be encouraging this😁🤭

I pray that what is happening to the stocks of GameStop, AMC, and others do not turn out to create a financial crisis liked the one that happened more than a decade ago and started the Great Recession.

Yup. Just goes to show the control these companies and Wall Street has... If they don't go after this blatant market corruption, then the US is just straight-up boned. The rich get richer, and the poor get poorer. These guys got caught shorting, and then scrambling to buy back the borrowed stocks... I bet the courts will just not bother and throw this out.

lol, yep. RobinHood basically going against the character and being subjugated by the rich/elites. Still, bring more billionaires on TV to cry about it (one dude was literally crying), IMO.

Lol, I'll just stick to my measly .5% savings account thank you very much.

lol.

I made 5k, bought 25 shares at 90 and sold at 290. I left one in for shits and giggles.

In what way are the Reddit investors who are challenging the finance establishment are "trolls"?

Better than a couple days ago. Now edited article was calling them "alt-right".

Lol, war wasn't going to happen; the USA flexed and Iran flinched, it was virtually nothing.

Put a $10K stop loss on it. If there is no inventory that will sell at that price.

@vl4d_l3nin: The Reddit investors are now identified as "alt-right" and "dumb money"? So the mainstream media is working with the hedge funds against the investors.

:P

Can someone tell me what happened or what are you pointing at?

I'm not talking about the sudden GS stock increase or how hedge funds who shorted it got screwed. I'm talking about how Wallstreet is manipulating the situation now.

Bunch of wanna-be commies who've accomplished nothing in their life jealous of those who've won at life, rightfully so.

Once you rip it all down, be left with half-wits with pink hair who don't know how to open a tin of baked beans, let alone run the world.