AnimeSuki Forums

Anh_Minh · 2021-01-28, 04:41

https://www.dw.com/en/the-big-gamest...nds/a-56365948

Quote:

Established US investment funds Melvin Capital and Citron Research bet that stock prices of an aging video game high-street retailer would keep falling. But Reddit users teamed up to confound their short positions.

Sheba · 2021-01-28, 04:47

Wall Street is losing their mind and I love it. Those guys were due a kick in the teeth since 2008.

This reddit post sum up the sentiment of a lot of people, it should resonate with everyone who were affected by the 2008 crash, saw Occupy Wall Street fail and watched Trump's friends lining up their pockets with impunity during Don's presidency.

GDB · 2021-01-28, 05:12

I wanted to participate, but between getting an account and money transferring, this would all be over before it went through.

Jaden · 2021-01-28, 06:53

This is epic! I think the economy is going to collapse, unless there are massive bailouts in order to pay off the stock holders!

I went for a bit of NOK. I doubt this kind of attack is going to work twice, but we'll see. Your move now, Wall Street

MeoTwister5 · 2021-01-28, 07:23

Some redditor put in like 50k and is supposedly currently at 48 million!

Magin · 2021-01-28, 07:54

I have to admit, I'm actually interested in how this plays out.

On one hand, this might succeed in a way that Occupy Wall Street was unable to.

Other the other hand... well, at least during the Trump Presidency, I kept hearing about "the people with REAL power behind the scenes". This... could potentially be who Reddit is messing with. Sure, my understanding is that they're really only hedge funds (basically an offshore pool of money for the hedge fund group to draw from), but I think they're also some powerful billionaires who could cause this whole thing to explode. Actually, scratch that- it's going to explode no matter what. It's just a case of who will come out on top...

Jaden · 2021-01-28, 08:08

What's kinda funny about this is that Gamestop was dying organically. Gamers hate the company, and there are popular YouTube channels focusing entirely on horror stories they experienced while working there. Brick and mortar as a sales medium for games is anyway obsolete.

It's not the case that hedge fund managers were driving the company to bankruptcy in order to benefit from shorting the stock, though no doubt sometimes such plays are made.

But as much as people dislike the company, it's far overshadowed by people's displeasure with the financial sector, so now the company is resurrected from the brink of death to be used as a cudgel against "them", just because Gamestop happened to have the most shorts listed against it at the time.

Anh_Minh · 2021-01-28, 08:38

It's still dying. As the redditors would probably point out, Wall Street economy isn't the real economy.

Sheba · 2021-01-28, 09:11

Wall Street have underestimated the grudge and hate the common ppl have toward them sunce 2008. Especially when every years after that, the financial sector have rubbed their gains on our face. People have not forgotten, and have certainly never forgiven them.

EDIT:

Robin likely got a visit from hedge fundies lawyers.

The message Wall Street sent is very clear, Hedge Fundies are determined to stop the poor and the middle class from getting anything from the stock market, it's indeed THEIR privilege. They want to die of old age, on their pile of ill-acquired wealth, like fucking dragons. And here, there is no knight to slay them.

ganbaru · 2021-01-28, 13:02

Quote:

Originally Posted by Sheba

The message Wall Street sent is very clear, Hedge Fundies are determined to stop the poor and the middle class from getting anything from the stock market, it's indeed THEIR privilege. They want to die of old age, on their pile of ill-acquired wealth, like fucking dragons. And here, there is no knight to slay them.

Let's be honest, the ''knight'' than are supposed to keep them in check work to help the dragons to fleece everyone else.

Anh_Minh · 2021-01-28, 15:27

They didn't just freeze inconvenient trades. They actually force-sold shares from retail investors.
https://twitter.com/themaxburns/stat...72948226732046

Other perspective on the thing:
https://twitter.com/toxic/status/1353890766800621569
(Not sure if it's legit or a conspiracy theory. Not knowledgeable enough to know.)

serenade_beta · 2021-01-28, 20:47

To be honest, I'm surprised Gamestop's stock was originally even over $100, considering how close to death it is

Psyco Diver · 2021-01-29, 01:01

Something similar happened in Rite-aide years ago, I worked in a another pharmacy retailer, my boss was pretty close to the top dogs in our company. He told me to buy as much Rite-aide stock as I could, it was like $10-12 a share, I brushed it off because I knew the company was circling the drain. Flash forward 6 months and their stock shot up to over a $100 a share and another year later the company crashed. I should have listened to my boss lol

Not the last time I didn't listen to him, he tried getting me to leave the company, wouldn't tell me why, just trust him. Of course I didn't and a month later I was laid off (he was laid off shortly after me)

Anh_Minh · 2021-01-29, 02:00

Quote:

Originally Posted by serenade_beta

To be honest, I'm surprised Gamestop's stock was originally even over $100, considering how close to death it is

"Originally", it was less than $20.

serenade_beta · 2021-01-29, 02:23

Quote:

Originally Posted by Anh_Minh

"Originally", it was less than $20.

Ahh, I didn't look back far enough. Now it makes sense.

EroKing · 2021-01-29, 04:19

YouTube

https://youtu.be/A418oALSMII

Sorry; dynamic content not loaded. Reload?

YouTube

https://youtu.be/5MwxU8Qd0KE

Sorry; dynamic content not loaded. Reload?

The Green One · 2021-01-29, 12:56

Fat Rich Wall Street Moguls: "The poor people are stealing money from us and playing in our playground and IT'S NOT FAIR"

Man this is priceless. If these idiots want pity so badly they can buy it. They've got enough money after all.

dragon1412 · 2021-01-29, 12:59

I don't understand much about financial hedge funds so I ask what you guys will probably laugh a me for: How exactly did this move attack the supposed groups ?? I supposed the bet things is refer to investing in something, but isn't at the end gamestop still dying as their issues isn't purely related to money, for redditors who use their money on gamestop aren't they gonna get affected as well ??? How does robinhood relate to this by automatically selling ??

The Green One · 2021-01-29, 13:15

Basically the hedge funders were betting on Gamestop stocks going down and invested accordingly, while an online flash mob on reddit starting buying up Gamestop stocks raising it's values making the hedge funders lose a lot of money as result and they're being salty as hell about it. That's my basic understanding.

Sheba · 2021-01-29, 13:59

If I got it right, hedge funders wanted Gamestop to bankrupt before they can refund part of the money they won from selling high the Gamestop stocks they bought low. Redditors purchased, afaik, ALL stocks right under their nose.

2021-01-28, 04:47	Link #2
Sheba RUN, YOU FOOLS! Join Date: Jun 2006 Location: Formerly Iwakawa base and Chaldea. Now Teyvat, the Astral Express & the Outpost Age: 44	Wall Street is losing their mind and I love it. Those guys were due a kick in the teeth since 2008. This reddit post sum up the sentiment of a lot of people, it should resonate with everyone who were affected by the 2008 crash, saw Occupy Wall Street fail and watched Trump's friends lining up their pockets with impunity during Don's presidency. Last edited by Sheba; 2021-01-28 at 05:02.

2021-01-28, 06:53	Link #4
Jaden Senior Member Join Date: Jan 2006	This is epic! I think the economy is going to collapse, unless there are massive bailouts in order to pay off the stock holders! I went for a bit of NOK. I doubt this kind of attack is going to work twice, but we'll see. Your move now, Wall Street __________________

2021-01-28, 07:23	Link #5
MeoTwister5 Komrades of Kitamura Kou Join Date: Jul 2004 Age: 39	Some redditor put in like 50k and is supposedly currently at 48 million! __________________ Medical Student vs. Anime Last Exile - Fam the Silver Wing -

2021-01-28, 07:54	Link #6
Magin #1 Akashiya Moka Fan Author Join Date: Mar 2007 Location: Where magic is real Age: 35	I have to admit, I'm actually interested in how this plays out. On one hand, this might succeed in a way that Occupy Wall Street was unable to. Other the other hand... well, at least during the Trump Presidency, I kept hearing about "the people with REAL power behind the scenes". This... could potentially be who Reddit is messing with. Sure, my understanding is that they're really only hedge funds (basically an offshore pool of money for the hedge fund group to draw from), but I think they're also some powerful billionaires who could cause this whole thing to explode. Actually, scratch that- it's going to explode no matter what. It's just a case of who will come out on top... __________________ Gifted...or Cursed? R+V fanfic- Chapter 4 of A Water Bride and a Vampire is now up at FF.net! All fans of Inner or Outer Moka, come join her fanclub!

2021-01-28, 08:08	Link #7
Jaden Senior Member Join Date: Jan 2006	What's kinda funny about this is that Gamestop was dying organically. Gamers hate the company, and there are popular YouTube channels focusing entirely on horror stories they experienced while working there. Brick and mortar as a sales medium for games is anyway obsolete. It's not the case that hedge fund managers were driving the company to bankruptcy in order to benefit from shorting the stock, though no doubt sometimes such plays are made. But as much as people dislike the company, it's far overshadowed by people's displeasure with the financial sector, so now the company is resurrected from the brink of death to be used as a cudgel against "them", just because Gamestop happened to have the most shorts listed against it at the time. __________________

2021-01-28, 05:12	Link #3
GDB Senior Member Join Date: Sep 2008 Age: 38	I wanted to participate, but between getting an account and money transferring, this would all be over before it went through.

2021-01-28, 08:38	Link #8
Anh_Minh I disagree with you all. Join Date: Dec 2005	It's still dying. As the redditors would probably point out, Wall Street economy isn't the real economy.

2021-01-28, 09:11	Link #9
Sheba RUN, YOU FOOLS! Join Date: Jun 2006 Location: Formerly Iwakawa base and Chaldea. Now Teyvat, the Astral Express & the Outpost Age: 44	Wall Street have underestimated the grudge and hate the common ppl have toward them sunce 2008. Especially when every years after that, the financial sector have rubbed their gains on our face. People have not forgotten, and have certainly never forgiven them. EDIT: Robin likely got a visit from hedge fundies lawyers. The message Wall Street sent is very clear, Hedge Fundies are determined to stop the poor and the middle class from getting anything from the stock market, it's indeed THEIR privilege. They want to die of old age, on their pile of ill-acquired wealth, like fucking dragons. And here, there is no knight to slay them. __________________ Last edited by Sheba; 2021-01-28 at 12:39.

2021-01-28, 15:27	Link #11
Anh_Minh I disagree with you all. Join Date: Dec 2005	They didn't just freeze inconvenient trades. They actually force-sold shares from retail investors. https://twitter.com/themaxburns/stat...72948226732046 Other perspective on the thing: https://twitter.com/toxic/status/1353890766800621569 (Not sure if it's legit or a conspiracy theory. Not knowledgeable enough to know.) Last edited by Anh_Minh; 2021-01-28 at 15:41.

2021-01-28, 20:47	Link #12
serenade_beta そのおっぱいで13才 Join Date: Dec 2006	To be honest, I'm surprised Gamestop's stock was originally even over $100, considering how close to death it is __________________ -Blog --> http://tdnshumi.blogspot.com/ (Mainly about video games) -R.I.P. Hiroshi Yamauchi, Gaming wouldn't have been the same without you (9/19/13)

2021-01-29, 01:01	Link #13
Psyco Diver Senior Member Join Date: Feb 2014	Something similar happened in Rite-aide years ago, I worked in a another pharmacy retailer, my boss was pretty close to the top dogs in our company. He told me to buy as much Rite-aide stock as I could, it was like $10-12 a share, I brushed it off because I knew the company was circling the drain. Flash forward 6 months and their stock shot up to over a $100 a share and another year later the company crashed. I should have listened to my boss lol Not the last time I didn't listen to him, he tried getting me to leave the company, wouldn't tell me why, just trust him. Of course I didn't and a month later I was laid off (he was laid off shortly after me)

2021-01-29, 04:19	Link #16
EroKing Senior Member Join Date: Dec 2010 Age: 38	YouTube https://youtu.be/A418oALSMII Sorry; dynamic content not loaded. Reload? YouTube https://youtu.be/5MwxU8Qd0KE Sorry; dynamic content not loaded. Reload? __________________

2021-01-29, 12:56	Link #17
The Green One Senior Member Join Date: Jul 2010	Fat Rich Wall Street Moguls: "The poor people are stealing money from us and playing in our playground and IT'S NOT FAIR" Man this is priceless. If these idiots want pity so badly they can buy it. They've got enough money after all. __________________

2021-01-29, 12:59	Link #18
dragon1412 Senior Member Join Date: Apr 2011 Location: somewhere in Asia	I don't understand much about financial hedge funds so I ask what you guys will probably laugh a me for: How exactly did this move attack the supposed groups ?? I supposed the bet things is refer to investing in something, but isn't at the end gamestop still dying as their issues isn't purely related to money, for redditors who use their money on gamestop aren't they gonna get affected as well ??? How does robinhood relate to this by automatically selling ??

2021-01-29, 13:15	Link #19
The Green One Senior Member Join Date: Jul 2010	Basically the hedge funders were betting on Gamestop stocks going down and invested accordingly, while an online flash mob on reddit starting buying up Gamestop stocks raising it's values making the hedge funders lose a lot of money as result and they're being salty as hell about it. That's my basic understanding. __________________

2021-01-29, 13:59	Link #20
Sheba RUN, YOU FOOLS! Join Date: Jun 2006 Location: Formerly Iwakawa base and Chaldea. Now Teyvat, the Astral Express & the Outpost Age: 44	If I got it right, hedge funders wanted Gamestop to bankrupt before they can refund part of the money they won from selling high the Gamestop stocks they bought low. Redditors purchased, afaik, ALL stocks right under their nose.