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#637246 - 20/02/21 03:53 PM Gamestop...potential greatest wealth transfer in history?
Pickles Online   happy
1st Team Squad

Registered: 23/12/15
Posts: 5117
Is anybody following this?

I know there is a few Financial savvy (for a living) folks in here...Vish didn't you mention you are some sort of financial advisor?
Anyhow i've been following this for awhile now and it's an absolute mess, Hedgefunders who tried to put the squeeze on Gamestop by shorting them got caught with their pants around their ankles and have been hemorrhaging from interest payments, trying allsorts of nefarious ways to drive the price down. So far they've succeeded but at what cost? it seems no matter what they try this is going to have cataclysmic consequences in the end for them!

The guy who started it all for the retail buyers just bought another 50k shares yesterday, he'd already made a killing when the price went up to $400 a share (it's back down to $40 now) and there was talk about the Hedgefunders trying to dsrive the price down yesterday below $40 because of interest payments due and right towards the end of trading the guy who started it all screwed them over by buying 50k shares. I'm no financial wizard when it comes to this stuff but it seems there is opportunity here...

This all came about from forums on Reddit wsb bets which got infiltrated by the Hedgefunders trying to sow discord in the retail investors and getting them to sell their shares so they can cover their losses...it's still going on as I type.

https://www.reddit.com/r/GME/

I've been following the above subreddit as it's least infiltrated by the shills trying to sow discord...well worth a read!

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#637261 - 21/02/21 11:45 AM Re: Gamestop...potential greatest wealth transfer in history? [Re: Pickles]
Pickles Online   happy
1st Team Squad

Registered: 23/12/15
Posts: 5117


Here's a great video clearly explaining the nefarious actions the likes of Robinhood did in halting the retailers from buying Gamestop shares on January 28th which made the share price for Gamestop to dip so dramatically from $480 a share at one point. Thus helping out those Hedgefunders who had shorted the stock by 140%.

Robinhood is a free-trading app that lets investors trade stocks, options, exchange-traded funds and cryptocurrency without paying commissions or fees. It was the retail buyers main choice for buying Gamestop shares from.

A huge amount of those retail Gamestop shareholders have now either moved from Robinhood or have explicitly told Robinhood not to allow their shares to be loaned out, which was the reason why the Hedgefunders where able to decrease the Gamestop share value.
The Hedgefunders where loaning shares behind the Gamestop shareholders backs and don't own the shares so either way there is not enough shares in the market now for these Hedgefunders to recover their positions. The retail Gamestop shareholders still have their shares and are increasing their amounts at whatever the market price because they know the Hedgefunders are hemorrhaging from interest payments and it's only a matter of time before the share price explodes again.

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#637272 - 21/02/21 05:05 PM Re: Gamestop...potential greatest wealth transfer in history? [Re: Pickles]
EnergisedReds Online   content
Liverpool Legend

Registered: 10/01/10
Posts: 22012
Originally Posted By Pickles
Is anybody following this?

I know there is a few Financial savvy (for a living) folks in here...Vish didn't you mention you are some sort of financial advisor?
Anyhow i've been following this for awhile now and it's an absolute mess, Hedgefunders who tried to put the squeeze on Gamestop by shorting them got caught with their pants around their ankles and have been hemorrhaging from interest payments, trying allsorts of nefarious ways to drive the price down. So far they've succeeded but at what cost? it seems no matter what they try this is going to have cataclysmic consequences in the end for them!

The guy who started it all for the retail buyers just bought another 50k shares yesterday, he'd already made a killing when the price went up to $400 a share (it's back down to $40 now) and there was talk about the Hedgefunders trying to dsrive the price down yesterday below $40 because of interest payments due and right towards the end of trading the guy who started it all screwed them over by buying 50k shares. I'm no financial wizard when it comes to this stuff but it seems there is opportunity here...

This all came about from forums on Reddit wsb bets which got infiltrated by the Hedgefunders trying to sow discord in the retail investors and getting them to sell their shares so they can cover their losses...it's still going on as I type.

https://www.reddit.com/r/GME/

I've been following the above subreddit as it's least infiltrated by the shills trying to sow discord...well worth a read!



No I am not a financial advisor but as I run a company, I have to more than understand finance, and yes, I followed that a bit, hedgefunds got fcked as they didn't expect what happened after they bet on Gamestop going bust by short selling, smaller players showed what could be done by the mass with the help of social media.

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#637285 - 22/02/21 03:46 PM Re: Gamestop...potential greatest wealth transfer in history? [Re: Pickles]
Pickles Online   happy
1st Team Squad

Registered: 23/12/15
Posts: 5117
thanks vish

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#637328 - Yesterday at 01:22 AM Re: Gamestop...potential greatest wealth transfer in history? [Re: Pickles]
Pickles Online   happy
1st Team Squad

Registered: 23/12/15
Posts: 5117
A fun day for the reddit gamestop r community...share price started at $41 then ended up at $91.71 at close 4pm ET then after hours it Finished on $168 at 8 pm ET. At one stage after hours it got to $189.

Tomorrow will be a telling day as we'll get to see just how much this stock was shorted by the hedgefunds this could be literally shorted 200% or 300%, i've even see folks mention it possibly being in the 400%.

The price shooting up today could be a distraction for folks to sell and allow the hedgefunds to recover some of their position, however folks have been in this too long and know the Hedgefunds have been using allsorts of nefarious methods to hide their positions.




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#637329 - Yesterday at 01:27 AM Re: Gamestop...potential greatest wealth transfer in history? [Re: Pickles]
Pickles Online   happy
1st Team Squad

Registered: 23/12/15
Posts: 5117
Yes I bought shares a few weeks ago, I wish I had followed this back in 2019 when they where trading at $2 and change a share.

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#637332 - Yesterday at 03:59 PM Re: Gamestop...potential greatest wealth transfer in history? [Re: Pickles]
Pickles Online   happy
1st Team Squad

Registered: 23/12/15
Posts: 5117


For anybody who is interested in this Gamestop insanity, this is a LIVE stream of the days events by a Guy who has a big following on Youtube about stocks.

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