#WallStreetBets

Discussion in 'The Mainboard' started by Tobias, Jan 26, 2021.

  1. Tobias

    Tobias dan “the man qb1” jones fan account
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    i do not know what it means but apparently reddit dorks are bankrupting hedge fund ghouls as a joke and it seems dope and different so please discuss itt
     
  2. Tobias

    Tobias dan “the man qb1” jones fan account
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    as far as i can tell this explains the phenomenon

    F23F7FE5-86A4-4582-A4E7-367E8C271504.jpeg
     
  3. DoubleDutchBus

    DoubleDutchBus Well-Known Member
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    One of them turned 56k into 11 mil.
     
  4. Manny

    Manny I love lamp.

    thread is streets behind
     
  5. Andy Reocho

    Andy Reocho Please don't get lost in the sauce
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  6. WC

    WC Bad Company, till the day I die.
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    23 mill*
     
  7. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    It’s probably more like 30 million right now
     
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  8. WC

    WC Bad Company, till the day I die.
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    And it might fuck the Mets, and we can all get behind that.

     
  9. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    That was at close, it’s up another massive amount after hours
     
    WC likes this.
  10. DoubleDutchBus

    DoubleDutchBus Well-Known Member
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    I was just going by the article I read.
     
  11. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    team funds got on this early and it's PR cover that is useful to basically all but the singular fund getting rolled more than a robinhood scenario
     
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  12. Tobias

    Tobias dan “the man qb1” jones fan account
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    i hope countless hedge funds are bankrupted by this thing that i totally understand. make those people suffer
     
  13. DoubleDutchBus

    DoubleDutchBus Well-Known Member
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    I think their next target was Nokia.
     
  14. momux

    momux AFAM Scholar
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    Fuck short sellers (not derogatory, some of my best friends are short sellers).
     
  15. Tobias

    Tobias dan “the man qb1” jones fan account
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    i am just glad this confirms my suspicion that the stock market and the economy in general is all a meme
     
  16. ASU Knight

    ASU Knight Well-Known Member

    America has taken up sports betting on college football Saturdays and NFL Sundays and translated it into gambling in the stock market Monday-Friday. Only difference is the big banks, hedge fund firms, investment companies etc didnt have a fail safe in place in some areas like the casino. Some savvy investors are pulling strength in #'s with this new gambling crowd and people are making big $$$$$$$ chasing runs like they are at the craps table. .
     
  17. JeremyLambsFace

    JeremyLambsFace For bookings contact Morgan at 702-374-3735
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    I remember when the first victim of this memery was Gallant Knight betting against Elon
     
  18. ashy larry

    ashy larry from ashy to classy
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    someone explain short selling to my friend who didn’t go to business school and make really good grades
     
  19. Tobias

    Tobias dan “the man qb1” jones fan account
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    but explain it to your friend in terms of traffic control principles
     
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  20. WC

    WC Bad Company, till the day I die.
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    The pics in this tweet do a good job at explaining what’s going on
     
  21. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    i mean GK also printed money during the initial covid collapse, so win some lose some
     
  22. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    Basically you sell a stock you don’t yet have by borrowing it. You then owe shares to wherever you borrowed from. Price goes up on the stonk(stonks only go up) and the short loses money. Has infinite risk because the price can keep going up.
     
  23. momux

    momux AFAM Scholar
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    I think he bought a house with the profits doing that.
     
  24. kennypowers

    kennypowers Big shit like a dinosaur did it
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    WSB got me on $NIO and $PLUG early, but I never saw the appeal of GameStop because I’m super smart apparently.
     
  25. GoodForAnother

    GoodForAnother Just hanging out
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    short selling is when you lose a few billion dollars to a subreddit
     
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  26. ashy larry

    ashy larry from ashy to classy
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    is that where Reddit gold comes from
     
  27. ASU Knight

    ASU Knight Well-Known Member

    Apparently just 3 billion in one day and you get a laugh out of Elon as well.
     
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  28. ashy larry

    ashy larry from ashy to classy
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  29. BrickTamland

    BrickTamland You're not Ron...
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    short = you've purchased the right to X [X=buy or sell]
    long = you've sold obligation to (opposite of X)

    short makes money when the stock falls
     
  30. Fusiontegra

    Fusiontegra My life is dope and I do dope shit.#SparedByThanos
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    Well, logically, you’d have been right to avoid GameStop. But logic has long since gone out the window here.
     
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  31. ohhaithur

    ohhaithur e-Batman
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    The best way I can think of to explain it:

    You know how scalpers sell tickets to big events right after they sell out (or teams are confirmed for a big game?) and then, once they sell, go out and actually buy the tickets for less than they sold them for and pocket the difference? That's short selling

    Remember the 2012 BCS title game between Oregon/Auburn when this happened and there were no tickets for sale to scalpers to buy and prices went above $10,000 as scalpers were desperate to fill their orders? That's a short squeeze, which is what is happening now
     
  32. fsugrad99

    fsugrad99 I'm the victim here
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  33. Daniel Ocean

    Daniel Ocean I only lied about being a thief
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    We’ve all been there, story as old as time
     
  34. Truman

    Truman Well-Known Member
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    This amazing. Never thought Id cheer on reddit dorks, but here I am

     
  35. Truman

    Truman Well-Known Member
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    Here's a pretty good explainer

     
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  36. Gallant Knight

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    Sitting on the couch in the house I bought with profits shorting Tesla

    I definitely lost some money back during the middle portion of 2020.

    haven’t had a position in Tesla in 6+ months.

    going to short GME either tomorrow or Thursday
     
  37. ohhaithur

    ohhaithur e-Batman
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    oh my
     
  38. Guns

    Guns antifa.com webmaster
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    all aboard the AMC train
     
  39. Mr Mortisay

    Mr Mortisay Well-Known Member
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    Here for the party. Will probably buy some more tomorrow
     
  40. devine

    devine hi, i am user devine
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    Still not positive I understand
     
  41. Jax Teller

    Jax Teller Well-Known Member
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    Insert good luck meme.
     
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  42. Lyrtch

    Lyrtch My second favorite meat is hamburger
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    just looked at the prices to short GME

    :gooooo:
     
  43. hudson

    hudson Oh, you know...stuff.
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    Yepp, some guy on Twitter mentioned it. It’s up 66.33% in off hours trading. I bought some shares to see if I get ride a little tomorrow.
     
  44. Mr Mortisay

    Mr Mortisay Well-Known Member
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    Buying puts is one thing if you don’t mind the premium but why people are clamoring to short the stock in the biggest squeeze of all time still confuses me
     
  45. ohhaithur

    ohhaithur e-Batman
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    You presell a PS5 on eBay for $800 thinking you can just go to the score, get it for $500, then make an $300 profit.

    On release day every store is sold out and lots of people had the same idea and pre-sold PS5s and are desperate to buy them to deliver the order they already sold. With every scalper fighting over so few PS5s, the people who ended up with them can charge $900...then $1000...then $1100 and you're suddenly down a lot on your idea.
     
  46. Nelson

    Nelson Can somebody please get Ja Rule on the phone
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    Hammer AMC
     
  47. Nelson

    Nelson Can somebody please get Ja Rule on the phone
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    That wasn’t stonk advice
     
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  48. RonBurgundy

    RonBurgundy Well-Known Member

    I got 5 shares at $40 just to jump on the meme train and 5 shares of BB at $15 because I thought that would be next.

    I'm too chicken shit to put real money into it.
     
  49. devine

    devine hi, i am user devine
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    Ok thank you. Now what did the redditors do