As it stands today, their share price is $25.32.Įat The Rich: The GameStop Saga is streaming on Netflix now. Still, out of all of this, one positive is the online traders might have saved GameStop from going bust. While we were in the boom and euphoria then, things have definitely pivoted to crash now – with the bottom of the crypto market falling out over the past year, leaving many first-time online players on the market severely out of pocket. John Cassidy wrote in the New Yorker at the time: “We can say that almost all speculative manias happen in four stages: displacement, boom, euphoria, and crash”, adding that the boom was indicative of “buying in the hope that you will be able to get out before everything goes to hell…This is the peculiar logic of collective action that I have called, in the past, ‘rational irrationality’.” It added that the big appeal - apart from shits and giggles for a population under lockdown - “is a form of wealth transfer – the only losers in this trade are large hedge funds, and the winners are lower-income internet users, some of whom are only putting up a few thousand dollars.” Did the stunt end up pulling capitalism down for good? The Reddit reckoning had short-sellers scrambling. These funds have historically been able to shift the price of a stock for their own benefit, whether that is the “pump and dump”, or by openly and heavily shorting it”. Artificial Intelligence ( A) innovator C3.ai ( AI) may be the market’s next big short squeeze. As The Guardian reported at the time: “A lot of people are crowing that this is giving large hedge funds and traders a taste of their own medicine. Short interest in C3.ai is high and r/WallStreetBets has taken notice. This led some customers to file lawsuits against the brokerages, and demand that inquiries be set up to investigate what happened, as well as online financial regulation in general. As a member of the Financial Services Cmte, I'd support a hearing if necessary.” We now need to know more about decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit. Alexandria Ocasio-Cortez tweeted at the time: “This is unacceptable. Some brokerages, including Robinhood – ironically named after the man who stole from the rich to give to the poor – halted the sale of GameStop stock and other volatile stock that the Redditors were cashing in on on their apps, leading to claims of “market manipulation”. Bloomberg noted that short sellers had lost a total of $6 billion due to the squeeze. Unsurprisingly, the finance experts who lost out were incredibly pissed off. It seems Wall Street has started the crackdown to stop the retailers to beat them in their own game.Netflix What was the effect of this bulk-buying of stock? The Reddit group has already been turned to private in the wake of GameStop development while Discord banned the group altogether. The world seems to be divided on what happened yesterday where one side believes it’s a revolution of a kind where retail is showing its power to the institutions and hedge funds while Wall Street calls it a fall play. NASDAQ yesterday announced that they would halt any stock trade with high volatile market movement created due to social media frenzy and went on to halt GME stocks trading. Just announced commercial license HUGE moves possible. r/Shortsqueeze ATOM Atomera 24M shares, 4.4M held short. I know this GameStop stuff is funny, but you have to remember this is hurting real people who own multiple boats r/Shortsqueeze FATP AKA FATPussy AI SPAC with 485K float and 1 over NAV protection presents the safest squeeze possibility in this shitty market. Melvin Group has paid the price for biting more than what they could chew, a term often used by bankers for retailers similarly losing heavy money, but as the tables have turned, Wall Street is trying to change the rules. Ultimately all capital looking to defund Wall St, Central Banks, and fiat money will end up in #BTC Unlike the $GME short-squeeze, where the company can issue new stock so hedge funds can cover, a Silver short-squeeze could continue indefinitely because you can’t print Silver. He also reminded me that a potential Silver short squeeze could mean doom for wall street. Max Keiser, the popular podcaster cum full-time bitcoin proponent has called for shorting the silver market and reminded about a similar campaign back in 2010 which led to Silver price climb from $15 to $50.
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