Blue horseshoe loves GameStop steal
Discussion
Reddits back up after being ddos'd by hedgefunds, if you follow the wallstreet bets subreddit you can see how it plays out
https://www.reddit.com/r/wallstreetbets
Judging by the limited intellect of some who got in on the Blockbuster pump and dump earlier this week and seeing how simple and effective the concept is this isn't going to go away and will become the new normal.
https://www.bloomberg.com/amp/news/articles/2021-0...
https://www.reddit.com/r/wallstreetbets
Judging by the limited intellect of some who got in on the Blockbuster pump and dump earlier this week and seeing how simple and effective the concept is this isn't going to go away and will become the new normal.
https://www.bloomberg.com/amp/news/articles/2021-0...
This years winning strategy might become browsing reddit looking for opportunities to short at the height of a squeeze. When the voting machine becomes a weighing machine I doubt Gamestop or AMC will manage to turn around, good opportunity though for them to take advantage though (as you saw with Hertz.)
The level at which the Reddit crowd understood the market, and the speed at which information was shared and buys organised gave them an advantage over the institutions.
The motivations are very different too, there are millions of people who would willingly buy and lose a small amount considering it a fair ticket price for the hedge fund loss porn.
The motivations are very different too, there are millions of people who would willingly buy and lose a small amount considering it a fair ticket price for the hedge fund loss porn.
So what is going to happen here long term, obviously there is no way GameStop is worth $347 a share?
There is no way the Reddit group can keep the price artificially high forever, I assume it is soon going to fall back to the value before this happened?
Are they going to hold their shares to the bitter end or all suddenly start to sell?
There is no way the Reddit group can keep the price artificially high forever, I assume it is soon going to fall back to the value before this happened?
Are they going to hold their shares to the bitter end or all suddenly start to sell?
dimots said:
Yeah I'm not sure about the site downtime...could be just down to volume of traffic...70+ million views yesterday. Or maybe just taken down temporarily for a legal review? I agree it looks sinister on the face of things. I don't know...it's back now anyway.
Reports it was temporary to clear out a big influx trolls and bots (suggested as a DDOS attack on behalf of hedgies). TTmonkey said:
But is this being done for giggles or is there an underlying attack on the very foundations of American capitalism.... it looks like ‘sticking it to them’ but what if it’s a new financial terrorism ....? Bloody funny whatever it is.
You often see a mob mentality when valuations are very elevated, most of these kids aren't old enough to remember Netscape or Pets.com and haven't read enough history to know about tulips. Easy money draws 'em in every time as inevitable as hubris before a fall.
speedy_thrills said:
You often see a mob mentality when valuations are very elevated, most of these kids aren't old enough to remember Netscape or Pets.com and haven't read enough history to know about tulips.
Easy money draws 'em in every time as inevitable as hubris before a fall.
When you say kids are you talking about the Redditors or the hedge fund managers? Easy money draws 'em in every time as inevitable as hubris before a fall.
The former seem to be in it for shots and giggles, the latter don't seem to understand the concept of market forces and have been hoist by their own petard
louiebaby said:
It's got to come back down eventually. But when?
A runaway train will eventually stop, but choosing exactly where to stand on the track in front of one is a pretty risky game.
That would certainly be the case in normal circumstances but these were bought by people sticking it to the man, so maybe they will just hang on to the shares and the price won't drop as much as you would normally expect?A runaway train will eventually stop, but choosing exactly where to stand on the track in front of one is a pretty risky game.
boyse7en said:
speedy_thrills said:
You often see a mob mentality when valuations are very elevated, most of these kids aren't old enough to remember Netscape or Pets.com and haven't read enough history to know about tulips.
Easy money draws 'em in every time as inevitable as hubris before a fall.
When you say kids are you talking about the Redditors or the hedge fund managers? Easy money draws 'em in every time as inevitable as hubris before a fall.
The former seem to be in it for shots and giggles, the latter don't seem to understand the concept of market forces and have been hoist by their own petard
FunkyNige said:
louiebaby said:
It's got to come back down eventually. But when?
A runaway train will eventually stop, but choosing exactly where to stand on the track in front of one is a pretty risky game.
That would certainly be the case in normal circumstances but these were bought by people sticking it to the man, so maybe they will just hang on to the shares and the price won't drop as much as you would normally expect?A runaway train will eventually stop, but choosing exactly where to stand on the track in front of one is a pretty risky game.
speedy_thrills said:
You often see a mob mentality when valuations are very elevated, most of these kids aren't old enough to remember Netscape or Pets.com and haven't read enough history to know about tulips.
Have you actually read the history about the tulip episode? If you had you might not quote it as an example in these situations.Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff