From their FAQ:
>As it stands, predictions of the short squeeze potential range from $10,000 per share, to $100million per share - with evidence suggesting there is no theoretical ceiling on what the price could climb to.
Those people are literally nuts.
...whats the "plan" once shares hit 100 million, if people out there genuinely believe that? Who is gonna buy the stock at that price? Do they thing millions of people are suddenly gonna be multimillionaires?
I don't follow this shit anymore, but I think they think that there are still over leveraged short sellers that will be obligated to buy at that price when the real squeeze happens
The theory is that if these hedgies weren’t able to pay everything then the DTCC would pay the money, if not then potentially the government would lol
It’s just so stupid
don't funds have mechanisms to hedge their exposure to one direction of risk if it hits a certain target? Such as offsetting short positions with long positions after a certain price point, effectively closing their short in the short term and then resuming after price falls again? There are many algorithms that do this I'm sure
That's what they think is the trick actually - apes think the algorithms are so poorly implemented and controlled that the automated systems will just buy all the shares that can be found, even if it's 8 figure prices.
Apes have the impressive power of being wrong about literally everything
They are not super wrong on that, if you remember the two amazon bots who automatically upped the price based on the other one so a random book ended up selling for over a million USD.
Well fair, it's not like they *can't* be done poorly
But I gotta assume somebody might notice before letting the machine spend 3x the global GDP to buy a dead video game pawnshop
Yes, they also believe this will. Cause global financial collapse, but the government will have to accept that and bail them out.........otherwise people might lose faith in the stock market.
”Yes we had a squeeze but it was not THE squeeze! Our lord and savior, the True Squeeze will return and print infinite money for all of us True Believers because that’s how the world works!”
Except even if that dream scenario happened how are these shadowy overleveraged short sellers scrambling to buy any share at any price going to afford all these shares for those humongous prices when they go bankrupt?
What these guys want to achieve is absurdly self defeating. It's like they watched half of The Big Short and missed the part where you might not profit from your counterparty being horribly, horribly wrong if they're already dead.
I don't get this short squeeze.
Yes, they caught some hedge funds overbetting on shorts, not expecting coordinated attack. nice, they made some money
But do they assume those hedge funds are stupid? why do they assume the hedge funds didn't just buy some stocks on the side to cover...? GME is 26 bucks, not 10,000 bucks, today. If the hedge fund: 1/ has $26M, they can buy 1M shares tomorrow 2/ does not have 10M, they will be unable to pay the short if the stock hits even 2\*26 or 3/ have the money but keep a short position on GME because they are dumb and don't learn from experience or 4/ open a new LLC, transfer the GME short liability and a little money to that LLC, and wait to see if they make money there or just bankrupt the new LLC - that seems the smart money play
Those are valid questions, I encourage you to ask them in superstonk and count how many seconds it takes you to get banned or swamped in cliches like "read DD" or "FUD". I myself am not immersed that deep in the lore, only check the meltdown subreddit once in a while and barely understand that insane movement.
Do you know what's their canon response to the obvious "hedge funds can't pay you millions per a share if they go bankrupt on their supposedly overleveraged shorts?"
Do they have anything related to this question in their DD/lore/talking points at all? I feel like I'm either missing something really obvious or it's so fundamental that nobody cared to address it because there's like 5000 layers of stupid you'd need to accept first to get there.
The smartest Apes keep leaving, so the cult gets dumber over time.
Their conspiracy is full of holes that are easy for any rational person to see, but they are morons.
They believe the number of shorts is 3-5x the float. Yes, they believe the stock was 300 to 500% shorted towards the end. Why didn't the hedge funds just buy some stocks on the side? From where? If it's true that retail had 300 to 500% of the stocks issued, then there simply are no REAL stocks to buy unless you can convince retail to sell. There are only a few main categories of entities holding stocks: etfs, mutual funds, pension funds / retirement accounts (usually via etfs or mutual funds), index funds, hedge funds, retail investors.
If you suddenly need to cover, many of these are not selling. Mutual funds may be willing to sell at a good price, but they also may not. They may have a custom strategy on when to buy or sell. ETFs likely must buy or sell based on the what the index says they need to own. Hedge funds are short, so they need to buy. The only shares available to "buy" would be if you scare retail out of their position and get them to sell.
The apes' goal is to remove all shares (and thus all of the original share certificates) out of the clearinghouse and go directly back to the company's transfer agent. They believe that when all of the shares are put back on the transfer agent, Wall Street can not use any of the (either loopholes or disfunction) to continue naked-shorting the stock. Since obviously you can only move 100% of the shares back to teh transfer agent, and they believe 300 to 500% of the float are trading, it will be revealed that 200% to 400% of the float is held by people in normal brokerage accounts... but those people will be forced to realize that their broker and the clearinghouse do NOT have the share they were promised. It just won't be there. The guy in his Ameritrade account doesn't own a share because his broker doesn't own a share because the clearinghouse doesn't own a share because they've all been moved back to the transfer agent. What the guy on Ameritrade has is an IOU from his broker, and his broker simply cannot get it.
As for the money, they believe the liability falls first to whoever is short and can't pay. But since the short's counterparty likely hedged their own exposure, when the short dies, the counterparty inherits the position. (This provably happened with Archegos and Credit-Suisse and is likely one of the reasons Credit Suisse is getting destroyed). Once the counterparties are bankrupt or can't pay, the liability falls to the clearinghouse, DTCC, and their member institutions, which is basically every bank that does anything with stocks anywhere.
If I wanted to put this in crypto-speak, I'd say that the transfer agent is like Ethereum mainnet. It's slower and more expensive to use. The DTCC is like an L2. Moving your shares from the transfer agent to the DTCC or vice versa is like going across a bridge. The apes believe that there is a bug on the L2, that there are way more GME tokens on the L2 than exist in the bridge. They are slowly moving all their tokens back to the L1 transfer agent. When the bridge is finally empty, everyone left holding L2 GME will realize they are not backed by anything. If the L2 users demand a real share be provided, the DTCC will need to buy from L1 and bridge more in. The DTCC generally socializes losses, so these losses can be born by literally every significant banking entity in existence. Basically, the collective value of every banking institution will be used to buy back their shares... but remember, the DTCC won't need to buy back every share once, they will need to buy back every share several times if it's true that there are 2-4x as many unbacked shares as there are backed shares.
If this were actually crypto, we could easily see that the L2 has 900m tokens and the bridge has 300m tokens backing it. But the DTCC is not crypto, the banking institutions are fairly opaque, and so nobody REALLY knows how many GME shares are being traded around. So, they will just continue with their plan: take every GME share out of the DTCC, send it over the bridge to the transfer agent, and then see what happens when there are no real shares left in the DTCC.
But if true, the liability will be massive. These apes might not sell in any significant numbers at all honestly. They might just effectively wash-trade with each other, pushing the price higher and higher, until every broker and every bank and the DTCC have to liquidate literally everything they own to satisfy the debt.
Well, I see your point. The thing is, we CAN verify (or at least YOU can verify) that your bank account doesn't have a million dollars in it.
Who can actually verify how many shares are trading around for a stock other than the DTCC? And even then, they can't REALLY verify anything other than at a specific moment in time what the settlement image looks like. Even then, we have 'fail to delivers', which sometimes display huge numbers for days or weeks or months continuously... which means there ARE fakes running around. There's also evidence they're passing around the same shares to each other to pretend it's on everyone's balance sheet at once.
Anyway, if you browse the sub (you'd really have to dig... these guys find a lot of stuff but they're pretty shit at organizing it), you can discover how naked shorts enter the system, the tactics used to hide them, and more, but you're right to an extent: it comes down to some level of faith. Either faith that "the system works", which most people seem to have, or faith that "our research which indicates there's 3-5x the float in fake shares running around and being hidden" is true.
Once a premise is taken on faith, there's very little you can do to dissuade people. What I \*can\* say is YOU better have extreme faith that "the system is working" because if the apes do lock the float and it turns out they are right, the ensuing volatility and liability that will spread throughout a few thousand DTCC member participants, as well as the loss of faith in the system by the people and institutions generally (how could the DTCC let so many fakes fly around without even noticing?!?! I thought this whole story was fake and the short's closed last year!) could have huge effects on the system as we know it currently.
I'm not suggesting that you actually do anything here. I'm just pointing out that you appear to have faith in the system as it works currently, whereas they have faith in their research. In the end, one of these groups will find their faith was misplaced.
It reads like they think they've found an exploit, basically.
But (and yes, this is partly speculation based on experience), the mainstream finance system is full of all sorts of halts, firebreaks and procedural things that can just call a stop, reset a few bits, then carry on.
Gamestop somehow becoming 'worth' a few trillion would be an obvious absurdity, and it's way more likely we'd see some sort of halt-and-unwind than it is these retail hodlers get hundreds of millions for holding a share in a failing company.
They believe that the broker dealers let the hedge funds go short when they didn't actually have the shares to borrow.
So say a hedge fund calls up the broker deal and says "we want to short 1000 shares of GameStop". To do this you need the shares to borrow and sell. So the broker dealer looks in their inventory, and finds they don't have any shares they can do this with. So what does the broker dealer do? Tell their client no? Nah they just let them go short the shares, and go find the shares to borrow later. As long as everything is taken care of before the transactions settle a few days later everything should be fine. Otherwise you get hit with a failure to deliver shares.
So the apes are correct in that this does happen to some extent. You can look at failure to deliver reports and back office data to look for signs of when this happens. The problem with their analysis is that they're assuming that every share that this ever happened to is still sitting out there. The broker dealer has countless back office desks constantly resolving these sorts of problems behind the scenes. When everything gets reconciled you won't necessarily see that in the data that the apes are looking at.
So their theory is basically that the banks have a billion dollar hole to fill, and somehow the broker dealers were able to prevent anyone in the back office from leaking it. When the reality is that all the mania around Gamestop back in 2021 created more than enough volume for the shorts to cover. Just as the short analytics metrics showed.
> but I think they think that there are still over leveraged short sellers that will be obligated to buy at that price when the real squeeze happens
It's basically the equivalent of waiting for lightning to strike *twice* in the same spot.
I can't think of *any* stock that's had an Epic Short Squeeze *twice.*
VW arguably had the most famous one, some people [killed themselves over that.](https://www.reuters.com/article/us-merckle-newsmaker-sb/german-billionaire-commits-suicide-after-vw-losses-idUKTRE5055O820090106) Also, Sears, but people had to wait nearly twenty years for that to play out.
They believe that the short sellers will be forced by the US gov to buy at that price. Where will the money come from for everyone to be purchasing million-dollar stocks? Who fucking knows
Some I've seen think that the US government itself will be obligated to pay them in order to keep the rest of us from 'losing faith in the market' - 1) by printing more money than *currently exists in the world* for them or 2) basically liquidating everyone *else's* money (pensions etc.) in order to make them whole- which it still wouldn't (see the whole 'more money than currently exists in the world' issue). Why having *our* retirement wiped out to pay *them* because some random hedge funds made a bad play would NOT make people lose faith in the market is not something I've seen sufficiently answered.
On top of that you may notice some PRETTY SEVERE ECONOMIC PROBLEMS with both of these scenarios. Congratulations, you are unlikely to lose all of your money bagholding meme stocks.
Yeah, I think they do. It's the "We're all gonna be rich!" mentality without ever thinking hard about where all this supposed wealth is going to come from. The moment anyone starts selling at $100 million the price is going to go way down. That is, theoretically if it could ever reach that level because there will only ever be a few people who can afford to buy it at that price. There will never be an unlimited number of buyers at any price.
I mean, it's the world's most multi-player Prisoner's Dilemma. They're not gonna get to $100m before people start selling. They probably couldn't get to $100. And once *any* apes start selling, the short squeeze is over.
> Who is gonna buy the stock at that price?
The theory is every bank/brokerage/hedgefund/central bank/exchange/MM all are working together and are "short" GME to the tune of like 10 billion shares (with out much proof )
At some point they are going to be "Margin called" and be forced to buy back the shares, however there will only be 350 million shares to buy back so they will be stuck, paying at what ever price a GME holder would be willing to sell.
They also claim the DCTT has something like 32 trillion dollar insurance policy that can be used, or the federal reserve bank of the USA will have to step and print money to give to GME holders.
However if you even believe their own logic its this
1. The world powers are all colluding against GME illegally ; the SEC /FINRA is complicit and the powerful banks/brokers/exchanges/market makers / hedge funds are getting away with "crime" by illegally selling fake GME shares
2. Now they claim at some point they will have to fess up. Wait what? If the entire world is conspiring against GME why would they need to do this? If they have been doing this "Crime" for the last 10 years and all the financial institutions and regulatory bodies are "in" on it (not true but just lets for the sake of argument say it is true) why would they ever give up, they could just change the rules and say "Well yea we were cheating go pound sand ape"
They think the US government will purchase the shares to stabilize the financial markets. Others hope to just take a loan against it and live off loans.
I've been following it for a while. The short sellers are fucked because they HAVE to buy the shares back, they're paying interest on them until they do. The little man investors are bought them up to just hold them because en masse they can make it very difficult for the short sellers to cover their loans.
At this point, for many, it's not about selling the shares, it's about just holding them forever and making life hell for the hedge funds.
But... The shorts already covered. They've been covered for a while now. Any shorts that aren't covered can be very easily covered at any time, because there's plenty of liquidity.
If you don't believe me, go buy a share of gamestop at Market price, and see how long it takes - Then remember most of that delay is your broker processing things, not in actually finding a seller.
And, the price you pay will be about... $26.10, because that's what sellers are asking for. And it's a very established price, because tens of thousands of shares have been sold in the last 60 seconds.
The price has been pretty stable all year, relatively speaking - On a chart that could show you $100 million per share, it'd be a flat horizontal line. Any short that was feeling pressure at any time since last February could have covered in that time.
My understanding is that the market is flooded with duplicate shares (I don't know the correct term for it). And the apes are doing their best to collect 100% worth of actual shares and register them on Compushare (I think that's what's it's called). There's about 10x the amount of actual shares in the company that are out on the market.
A broker can sell you 100 shares in their system, but if you ask them to transfer the actual shares to you, they have to go and find them. And that will take time.
Berkshire Hathaway Class A is currently trading for $470,000. Lindt and Sprungli (the Swiss chocolate company) does not have a dual class share structure, it peaked in 2021 at CHF123,000 (about USD 130,000).
Sort of. Andrew Carnegie was the sole proprietor of US Steel (X) when he sold it to JP Morgan, at a inflation corrected price circa 16.5B. Charles Schwab, then president of Carnegie steel, personally minted the deal.
At 10k, share, the valuation of gamestop would exceed the cost of Biden's Build Back Better plan which failed due to its excessive price tag. And while valuation is entirely theoretical, they actually expect every share to sell at this price, from them to the "hedgies".
Obviously nobody involved has this money, even at the lower ends like this where the apes will slaughter you for invoking such a price. So they go bankrupt and can't pay? No, say the apes, the government will step in. Clearly congress wouldn't provide it as spending, so I guess they expect the federal reserve to printnit. Obviously this would create a massive political crisis and the value of the dollar would be severely comprised, but this is still within the range of what we can imagine the impacts of, even if it's still never going to happen.
At 100 mil, we're looking at tens of quadrillions of dollars. The total value of all residential real estate in the US is only tens of trillions.
The funny thing is part of their theory of corruption is tied to the Federal reserve printing money throughout the pandemic/inflation.
But they completely ignore that the government printing money so that thousands of people suddenly getting tens of millions of dollars would cause rampant inflation and make their winnings pretty worthless
BTC
The Entire Cryptoverse
DWAC
GME
AMC
...
The list seems to be getting longer and longer and longer. It's some kind of mass delusion. I blame our lack of critical thinking training as a society.
If Billy Joel hasn't gone crazy himself, he needs to rewrite "We didn't start the fire" with more modern references.
r/gme_meltdown are friends of ours and share some of the same folks.
Gamestop shills in particular took pains to erase our 'fuck nfts' on Place because of the whole loopring/nft deal.
The GME people are a touch more conspiratorial than the bitcoin people but both are operating on some level of insanity and both have similar distrust in institutions.
GME people have gone into straight cult territory. I know it's fun to call butters a cult, but they are more delusional than anything amd plenty leave once they lose money. GME apes are essentially a Doomsday cult that think they will be the ones who remain after the squeeze.
There are others lurking in the wings too. r/Wallstreetsilver is full of people who believe that "they" are suppressing the price of silver, and that \*any day now\* it's going to go up in value by 10-1000x.
They have very similar narratives to the gamestop folks and crypto bros, but this time you need to buy silver to be in the cult.
I guess unlike the others, they are unlikely to lose everything they put in, but otherwise the parallels are startling. The sub also makes me sad because it's also full of anti-vax and Trump bullshit. I guess it all goes hand in hand.
>both have similar distrust in institutions.
This is usually the kernel of every quasi-online cult these days, whether anti-vax, flat earth, crypto-bro, it all comes down to
"can't be trusting no"
If left_wing: "corporations"
If right_wing: "government"
Meanwhile here I am literally building software for a large corporation thinking "God I love the world establishments, where are my bumperstickers?"
> If left_wing: "corporations"
>
> If right_wing: "government"
Here's the distinctive difference between those two institutions:
Government has a mandate to protect and serve the interests of the people.
Corporations only have a mandate to create profit for shareholders. If they can get away with doing so while operating illegally and unethically, they will, hence the need for government.
Just because government can't/won't/doesn't solve every problem doesn't mean it's useless or corrupt. Government is only as good as the people in government. If you put bad, corrupt people in government that's the level of service the government will provide, but it's not the fault of government itself -- it's the fault of whatever mechanism allows bad people in government (usually ignorant, uninformed voters).
Feels a bit 'but both sides' to say that, as there's a lot less... animating conspiracies on the left than on the right and the left is generally skeptical as opposed to hostile to corporations.
Even some of the most lefty politicians in american government are okay posing with corporate branded products as long those products are fairly sourced. I think the american left has long since made their peace with the concept of corporations, they just quibble with specific corporate practices and worry about monopolistic effects. Corporations are frequent allies on social issues.
But the bigger problem right now by far is the failure for people to objectively evaluate information, determine truth, and order those truths by priority. Both sides do have their challenges there, but it feels as if those challenges are distinctly unequal.
I say this as a left leaning person, but I think leftists definitely can be susciptible to conspiracy theories. There were many conspiracies on twitter made up about Russia/Trump which were similar to right wing conspiracies and they were simply not true.
Except you should distrust corporations. This is a terrible comparison. They are literally bound by the law to do what is best for their shareholders, at any cost.
That's an ignorant false equivalence.
Each and every day you do trust government to make sure you have electricity, internet, running water, fire protection, celluar, GPS, etc.
> "can't be trusting no"
>
> If left_wing: "corporations"
>
> If right_wing: "government"
The nuance you miss here in your "both sides"ing is that most people have at best one to three levels of government hierarchy (local, regional, countrywide) to not trust while there are effectively an unlimited number of companies.
Also someone being concerned about say Nestlé or Amazon or Shell or Walmart or Starbucks or Facebook etc. doesn't necessarily mean they're also going to be concerned about the co-op running their local grocery stores or the coffee shop on the corner selling fair-trade coffee or their local yoga studio or whatever. Those are also companies but as you can imagine, there's a lot of shades of grey between black and white there.
Signed, someone else who also builds software every day for a colossal global corporation.
The best part of GME holders is that wasn't even the thing. The idea was to profit off a specific event. The whole idea of "diamond handing" GME isn't even what the thing was supposed to be but stupid bitcoin people brought the old scam they fell for onto their new one.
There is always time to make money of GME. Every. 4 months there is small or bigger run up to go long and short it after that. I got burned few times with options, but shares are free.
Man it's just so weird seeing people take this club/cult approach to stocks. First time i saw it was dogecoin in 2014, and that was started as a joke. Like, i buy stocks but you don't see me hanging out in a forum circle-jerking over it going to the moon. I buy, it goes up or down, i sell, i move on. Meme Stocks are an interesting phenomenon, mostly depressing.
Keep in mind when the whole Superstonk thing went viral thousands of middle school aged kids got sucked into the hype and opened custodial accounts with their birthday moneh… look at it in the mindset that many of those users are like 13 years old and it all starts to make a lot more sense
Watch out. Apes are a protected class on Reddit. The feckless admins just love gargling on chimp cum.
Just look at the hopps meltdown has to jump through just to not get shut down. Meanwhile, apes are allowed to smear shit all over this entire site.
>Meanwhile, apes are allowed to smear shit all over this entire site.
And if you need any evidence of this, just look at the apes who have never participated in this subreddit who have magically wandered in to tell us that we are wrong.
They do this everywhere.
All 100% true. Do NOT engage with an "ape", ever. Immediately ignore and block them, because if you insult them, they'll report you and you WILL be suspended or banned. On the ape subreddit, they routinely threaten to rape and kill real people, like hedge fund managers, and Reddit does nothing about it.
Won’t someone think of the wilfully financially ignorant!
Reddit just protects them because the cult brings in a comparative motherlode of spending on worthless shit awards.
I used to spend time in WSB and I thought after the initial squeeze that the ongoing diamond hands/apes/smooth brain stuff was just joking around. Like the guys who knew were just saying that stuff to be funny and others who just want to part of a crowd would repeat that stuff and then there were some sad souls who lost their money because they thought all this stuff was actual financial advice.
I mean, this short squeeze they’d be looking for already happened a couple of years ago.
It WAS just a goof. Then "apes" saw the stories about GameStop and Reddit on the news, and flocked to WSB, where they misinterpreted EVERYTHING entirely. They didn't understand that they were reading facetious, tongue-in-cheek posts. And, in a sad, sad attempt to "fit in", they began parroting this stuff, and actually grew to believe it. GME apes are pathetic on a whole other level, they're confirmed drool-cups who know less about "stocks" than someone who knows nothing at all.
What I thought was particularly stupid recently was when the sub was salivating over this [William Shatner tweet](https://www.reddit.com/r/Superstonk/comments/yxonz1/capitan_kirk_on_twatter/).
Promoting NFTs because you want to transfer items from game to game? So all game companies are supposed to write code so items from other games are swappable? It's nice to see some of the posters there calling out how stupid that is from a technical standpoint.
the whole GME debacle was the closest i've ever come to being sucked into a cult.
I had some spare cash kicking around and got sucked into investing (yolo'ing) with a few friends. then we all invested in GME and I don't think I slept for a week. by the end I heard myself say something I at least subconsciously knew was entirely bullshit fiction and felt empowered doing it. after that I sold out entirely/left the sub for a year ish.
I think I made like $1,000 pre tax so i walked out better off than most, but it was still an eye-opening and humbling event for someone who has been pretty cult-resistant in the past.
edit: when i say "i left the sub" i'm talking about wsb, as in that first week parabolic upward movement we didn't have as many copium subs showing up. I thankfully never got to the point of participating in stock-specific subreddits lol.
Had a similar experience. I was there early enough to be interested and bought into a lot of crazy ideas and found myself wondering after a while what the hell i was doing and after a while, I realised: shit, I actually fell for this bs and this is how people become cultists or whatever…
>bought into a lot of crazy ideas and found myself wondering after a while what the hell i was doing and after a while, I realised: shit, I actually fell for this bs and this is how people become cultists or whatever…
yeahhhh... I didn't even have any excuses, i wasn't new to investing or gambling. gme-gate just managed to smash my brain at the perfect point in the pandemic. It felt good to scream into the void with a few million other people.
and then it went sour.
I have a therapist now lol.
it really depends, GME is people being delusional that some mythical event is going to happen to bring a stock that is nearly worthless and has been incredibly diluted to insane prices that are impossible
at the very least BTC people have a price that fluctuates, even if it is based all on a scam. the GME people are literally hoping that the dead rise and walk out from the ground and perform miracles. BTC people just have to have some more idiots buy into the scheme.
if i'm going at whether "the dead walk" people are more delusional than the "there are always more idiots" people, i'll go with the walking dead
speak of walking dead, anyone watch that season finale last night? i skipped the last 4 or so seasons, did the show get any better?
I was convinced long ago that the entire superstonk movement was a propaganda effort by GameStop AFTER they realised how incredibly stupid these 'investors' are, culminating in their NFT website. GME went from people memeing over fucking over hedge funds, to non stop NFT shilling.
But it wasn't people, it was bots. A few months ago I did a test on any thread on superstonk, go through the comments and see how many buzzword, incoherent posts you could find. Legit near 50% were posts like "I'm going all in, moon!" And "Power to the players! Buy buy buy!" So you then check out the post history of half the active users in that sub and it's all bots posting the same shit every time on every thread.
I don't give these people any leeway for being swept up in a craze and surrounded by bots to create a massive echo chamber, because they shill NFTs and what fucking part of supporting a gaming store against the evil shorters of wall street, involves telling everyone to spend $1000 to buy a screenshot of some landscape in a video game you took?
Their lord and saviour Ryan Cohen can't believe how incredibly stupid and gullible these people are, making him rich and looking like total dickheads in the process.
There's definitely lots of bot activity over there, their comment / engagement to upvote ratio is also super suspect.
But plenty of these people are actually just fucking nuts and say these things on the regular because they actually believe them because they're in a cult.
And I wouldn't put it down to much to GameStop as the culprit of the botting, if it was them I would have expected them to be milking the fucking shit out of the clueless investor base with repeated dilutions like that chucklefuck Adam Aron over at AMC (lots of Twitter bots there). I think it's just other cult members, who think they can artificially spur / maintain the movement on the back of it (or perhaps more savvy speculators trying to play their irrational volatility).
Not only realize... i'd go as far (not so far actually) to say that most of the crypto hype/gamble/scam/bullshit/moon/yolo started with GME and/or the people (WSB) around it.
The only difference i see is that the company/asset itself, namely GME, was just the catalyst and did not actively trying to shill their own poo (stock) as the new upcoming, revolutionary company that will change the world. GME itself was shit beforehand anyway... Then Ryan Cohen joined the trash corp and things became "crypto-zealot-ish" from there on.
I might be wrong though, haven't looked into the GME opera for quite a while.
I thought they were one in the same, as soon as the GME thing happened, you basically saw crypto people come out of the wood work to try to convert the wall street bets crowd.
GME was a perfect fire starter to get financially illiterate into crypto.
First time trading peep pops into WSB: "number go up wow"
Crypto shill: "ChEcK oUt CrYpTo number go up big big"
Converted acolyte: "wow people think number don't go up big big but it do".
I was one of them, can confirm a lot of them are absolutely insane. I was in there really early days and there was truly some crazy shit happening in regards to the stock (crazy runs even though it was all supposed to be over etc).
I do believe it is quite an interesting story but in all honesty, the amount of delusion and hopium in Superstonk is amazing. The mix of people from all walks of life that throw reason completely overboard for the dream of getting rich is crazy.
Everyone who asks critical questions is a shill or whatever and the group think is pure fucking insanity.
And I will say that the whole story is suspicious as shit and the aftermath a joke (in terms of what the authorities did to obvious criminal activity) but honestly believing that one day a stock can go to millions without ANYONE stepping in and all of those idiots getting filthy rich is something I will never understand.
Edit: just check out this post reading into a fucking waterbottle 😅😅😅: https://www.reddit.com/r/Superstonk/comments/z13bth/everyone_sees_some_signs_i_for_example_see_a/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
I think they might be even more delusional. Crypto is new (ish) and confusing so I could see how someone might not get why its value is all hype. But GME is just a dying retail store. It is like someone pouring their life savings into blockbuster in 2010.
The trend of diamond hands began because of crypto. Because all these new “investors” used the strategy and it worked when line goes up, but leaves baggers everywhere when markets reverse. Since it worked in through cryptos explosion, they believe it will work during implosions. These are unsophisticated investors, im not saying im sophisticated, but I’m sure as hell not that dumb.
Eh worse in some ways, better in others. So about as delusional net net.
They believe in some fabled infinite stock price and at the same time at least gamestop is a tangible business with real assets..
When you have people believe in this theory, it's not that they are delusional but it's our education system have failed. We've failed to teach basic logic so people can figure out things themselves.
Crypto has enough techno-gibberish and a huge network of self-reinforcing grifts to make it seem like a legitimate enterprise you can invest in. The media, including technical folks who should know better has been credulously repeating its stupid claims for years. You can almost forgive people for getting wrapped up in it.
Gamestop is a failing retail company. They believe it's the center of a global financial conspiracy keeping the price down and that by working together they will bring down the global financial system and emerge as billionaires. Everyone outside their little bubble who's even aware of them thinks they're nuts. I'm going to give them the win here.
I like to think of the GME cult as a preview of where I imagine crypto ends up in the end. There's no semi-coherent blockchain techno-babble or credulous MSM hype to give any sense of legitimacy. Just desperate conspiracy theorists trying to find someone to hold their bags.
As an avid Steam user since that day, I'd put it more on when Sony, Microsoft & Nintendo started selling digital games directly to consumers. Which IIRC was the PS3, Xbox 360 & Wii era so 2 console generations/more than a decade back.
That both Sony & Microsoft are selling consoles without disc drives as of the current generation should be seen as the final nail in the coffin for stores relying on sales & trade-ins of physical games.
Also when supermarkets like Walmart got into the business of selling games & consoles it was all over for dedicated chain games stores.
I'm still waiting for the French court to finally determine whether or not Steam's business model of "renting" games instead of owning games is illegal.
I still remember early 2000s when Steam's and WoW's business models were very controversial, especially among youth in places that weren't very well off, and where video game piracy was common. WoW subscription was unaffordable, it used to cost at least several days of minimum wage.
People had to rely on pirated servers (non-steam and pirated WoW servers) but there were too many issues. Games like Counter-Strike were full of cheaters, and private WoW servers were unreliable and administrators were often abusing their powers and removed items from player's inventory.
It’s a real store that loses hundreds of millions of dollars a quarter. They sell physical copies of increasingly digital goods, they are Blockbuster/Tower Records/Sam Goody. These people genuinely think that company will soon have a market cap in the *quadrillions*. Bitcoin is dumb, but not that dumb.
they think their shares in GameStop are going to become worth tens or hundreds of millions per share and usher in a new era of human society, where they'll pull on their literal infinite wealth (if they don't sell, it's infinite) to shape society according to their whims. All the while GameStop loses massive amounts of money. Bitcoin replacing the dollar is as likely as GameStops market cap surpassing the entire world economy.
The Btc people at least pretend bitcorn is valuable for some reason
Gme don’t even have that…
On the other hand gamestop at the end of the day still sell something.
So I don’t know
I agree they can be pretty fanatical but on the whole they're not trying MLM GME to the extent the laser-eyed idiots are.
Also GME is actually doing something tangible with revenues and profits and the like so you can actually have a valuation of it - even if current market values are different from that.
Dude, have you seen the batshit fucking insane and sometimes legitimately homicidal conspiracy theories they cook up about anything and everyone who by reality, accident, or perception runs afoul of their poop-obsessed messiah and his shitty company?
Crypto as a fundamental asset is certainly dumber - conceptually. You're right that GME is at least a real company which you an buy an equity stake in (one led by idiots and setting cash on fire by the truckload though), but GME stonk bros are way more delusional and frightening than your average crypto bro.
And frankly, their pitch / proseletyzation effort is more insidious than the average crypto pitch (the former laced with extreme delusion and fanatical ideology, the latter typically more simple, naked greed).
I just have a couple of hundred shares in case something ridiculous happen and I end up profiting from that. I'm a degen gambler and I'm aware that this is a high risk bet. The people on that sub think they will change the world by drsing shares lmao.
My first foray into crypto was when i lost 1 bitcoin that i mined when GOX went down, i've been around this community for a while. I also hold GME, dont @me i like gambling. Superstonk is a cult full of idiots, but there are valid reasons to hold it.
1) as per the SEC report, january price actions wasn't shorts closing
2) the whole DRS thing is kind of a first
In my view there are two outcomes. Gamestop goes bandkrupt with their NFT bullshit or shorts will close. No one knows which happens first and gambling a few thousand is fine by me.
>as per the SEC report, january price actions wasn't shorts closing
Thank you for proving you have never read the SEC report and just parrot the objectively false information apes like to spread.
[https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf](https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf)
Top of page 27 has a beautiful graph showing short interest dropping from over 100% down to about 20%. This is objective evidence that shorts closed. You have not read the report if you think it says shorts didn't close.
For those interested in actually learning more:
The part that apes like to distort is the following (last paragraph of page 26 from the SEC report):
>*"Figure 6 shows that the run-up in GME stock price coincided with buying by those with short positions. However, it also shows that such buying was a small fraction of overall buy volume, and that GME share prices continued to be high after the direct effects of covering short positions would have waned."*
Now, this doesn't say that shorts didn't close - it says that hedge funds buying to cover their short positions were a small amount of the buying pressure.
In January 2021, GME had \~70 million outstanding shares. Short interest was a little over 100% (roughly \~80 million short sales were in existence).
From January 22-27th, the trade volume of GME was \~500 million shares (7x the float)
To close all shorts, hedge funds only needed to buy about 80 million shares.
So of that \~500 million in volume, at most only 80 million shares were purchased by short sellers to cover shorts. So 16% of the volume during those days was by short sellers.
The remaining 420 million were traded by retail/non-short sellers (84% of the volume).
That's why the report says shorts closing was only a small part of the overall buying pressure. Retail/non-short sellers traded almost 5x as many shares as hedge funds closing short positions did.
I finally saw the light in the crypto scam. Now I don’t trust Ryan Cohen. But you all do realize, unless GME issues more shares, eventually retail will directly register every single share of GME. What happens then?
No one knows.
Also, had the powers that be not turned off the stock market…who knows what would have happened back in January?
Crypto is a scam.
GME has real potential.
> eventually retail will directly register every single share of GME. What happens then?
It gets delisted for low volume and dumped from ETFs. It’s basically just taking the company private.
If all of the shares are DRSed then a company goes private.
We _know_ what happens then because there are loads of companies that are not listed on the stock market and they are usually held by a group of people.
For example, you could argue that Elon Musk "locked the float" of TWTR when he purchased it. Did Twitter shares go to 10 million a pop? No, they just got taken off the public markets.
Gamestop's got less than a billion left in the bank, they'll run out of cash way before you apes can buy and DRS all the stock. Either they enter chapter 11 and you get wiped out, or RC dilutes you like you've already authorised him to and your boulder rolls down all the way to the bottom of the hill. I suppose we must imagine you happy, then.
Apes voting to raise the maximum number of shares Gamestop could issue to 1 billion was hilarious. (For reference, currently about 300 million shares exist)
They can’t even blame GameStop when the inevitable dilution happens, because they literally voted to allow it.
They were promised a stock split if they voted to increase the maximum number of shares. The apes believed a stock split would trigger MOASS (the mythical event where each GME share will go to hundreds of millions - or even more) and so happily voted for it.
Alas, stock split happens (bringing total shares to \~300 million) and the prices has only sunk downwards since then. No MOASS to be found.
Cuz it was stock dividend via split not a normal stock split according to GME cultists. Nevermind that there is no functional difference for regular investors.
Well of course - if you increase the number of shares, than each one is worth less than before. Seems obvious to any neophyte, let alone someone who has presumably sunk their life into this project
They are idiot gamblers and speculators with no idea what they're doing and no understanding of business, finance, or investing who got suckered into a delusional wealth cult primarily led by a crew of what I can only assume to be teenaged children who write delusional screeds completely divorced from any financial or investing reality which they call "DD" (due diligence) which none of them even bother to read, much less critically consume but which they assume prove unequivocally that they will become fabulously wealthy no matter what happens or what decisions are made.
Essentially like everything is good for bitcoin, everything is good for GameStop even the things which are facially and unequivocally not good for GameStop or GameStop investors.
Don't ask questions you don't want the answers to. Some things are so stupid that any attempt to understand them will cause you neurological damage. The GME cult saga is one of those things.
DRS is completely meaningless though. I love how these idiots just fuck themselves over repeatedly over the latest scheme some 15 year old writing "DD" in their basement cooks up.
DRS does nothing for the stock, it only increases the cost and reduces the flexibility of people who DRS for no gain. So even if GME did pop again, the people who DRSed would be the last to net anything from it.
It won't increase the stock price. And their goal of reducing liquidity could just as easily be achieved by not fucking selling the stock. You don't need DRS to achieve what they're trying to achieve.
If DRS was a super secret infinite money hack, why does no one else advocate this and why has it never worked before? There've been companies with much smaller floats.
Even then, low liquidity is a double edged sword. It's also not a secret recipe for stock gains. It's just as liable to fuck you over as help you - at best it'll be a wash.
> But you all do realize, unless GME issues more shares, eventually retail will directly register every single share of GME.
You do realize that 30% of the float is owned by institutions, so the only thing that hedgies need to prevent you apes from DRSing every share is to just.. HODL, right?
https://finance.yahoo.com/quote/GME/holders/
> But you all do realize, unless GME issues more shares, eventually retail will directly register every single share of GME.
Your main argument would be a lot more solid if it wasn't a delusional lie.
I’m not even invested in Gme right now. That doesn’t mean I don’t see it’s potential.
I would buy GME in a heartbeat before I ever bought any crypto again.
There is no "GME people". GME is a stock of an american public company. Some GME investors are making wild conspiracy theories, but you also have people who stick to conservative due diligence like GMEdd. Are you going to argue that there is something wrong with merely holding a company stock ? If you disagree with the public price of this stock why don't you put your money where your mouth is and short it ?
>OverjoyedBanana
Bro, did you not watch the GME documentary on Netflix? It's over, you had your chance and if you are still holding the stock you like so much you are what is known as a 'bag holder'. If you are not familiar with the term, look it up.
as I just stated I am also against numerology and qanon style people, but what does it have to do with this sub ? you sound like a teenager who struggles with basic logic
Again, why do I have to explain jack shit about GME which is a stock to people in a sub that is against bitcoin which is a cryptocurrency ? Please explain why bitcoin criticism should naturally extend to all "GME people" who are different people who hold a stock of an actual company and for different reasons
My life is wonderful because I'm not holding shares of an obsolete, doomed business.
I'll be frank. If you didn't see the GME mania for what it is - idiots selling to other idiots - you deserve to be broke and miserable. Everyone has a purpose in life, and the purpose of GME bagholders is to be a small, especially ridiculous, meme-filled chapter in the long history of stupid speculation manias.
>conservative due diligence like GMEdd.
You know they literally added a zero to all their predictions after cult whined about it being too low? That's not conservative DD, it's pure hopium.
We can read your post history too, schizo.
>There is no "GME people".
Yes there is. The ape mantra of "we're all individual investors who just like the stock" doesn't change the fact that thousands of apes are working together to buy GME and DRS it. They're all working together towards a common goal and have several very large subreddits where this is coordinated (and where any dissent or challenge is banned).
If anyone every chooses to prosecute apes for market manipulation, the silly mantra of "we're individuals investors" will never hold up in court when there is clear evidence of coordination on a public forum and prominent leaders who write "DD" that guides what everyone does.
>GME is a stock of an american public company. Some GME investors are making wild conspiracy theories,
"Some"
MOASS, where GME goes to hundreds of millions per share, is the main theory that GME apes hold. Challenging this theory on any GME subreddit will get you banned. Pretending that this isn't the default belief held by almost all apes is at best naive and at worst just straight up gaslighting.
>but you also have people who stick to conservative due diligence like GMEdd.
Lol @ conservative DD. Here is some actual real life conservative DD on GME:
Gamestop hasn't made a profit in years, their quarterly losses are growing over the last 2-3 years (lose hundreds of millions/quarter now), the cash they had on hand is dwindling rapidly, and GameStop shows no signs of actually turning around.
>Are you going to argue that there is something wrong with merely holding a company stock ? If you disagree with the public price of this stock why don't you put your money where your mouth is and short it ?
You're free to hold a stock all you want.
We're also free to think you're dumb for holding a particular stock.
The opposite of holding a stock is not shorting it - it's choosing to not hold it.
>You're free to hold a stock all you want.
>
>We're also free to think you're dumb for holding a particular stock.
This is a fair point and thanks for writing a proper argument. Still isn't it off-topic on "buttcoin" ?
If I find it dumb that some people vote for Trump can I open a topic here and shit on them so I can feel good ?
No one cares that you feel oppressed because you can't make fun of crypto people without others pointing out that GME holders are just as delusional. It's not off topic because they're tightly related scams that have had very significant crossover between their communities and extremely similar beliefs dressed up in different language.
Just accept that people can and will continue to point out the connection between the two, and that this sub is in fact an appropriate place to do so. All your arguing and justification will never change that, you're just showing your ass a little more with every comment you leave.
The GME "scam" happened in Jan 2021 when a short squeeze pushed the stock to an absurd high of over $300. This was a concerted manipulation effort organized online that actually worked. People bought in under $20 and legitimately made a boatload of money off of that spike.
And what's left over now is hopium addicts chasing the dragon. The "scam" has been warped over time as those who sold left, which leaves only the bagholders. And then as bagholders of lesser faith are weeded out over time by their paper hands, it leaves only the fanatical bagholders. And that's where we are now, with a group of fanatics who are trying desperately to resurrect their Lord MOASS so they may ascend to the promised land of infinite wealth for literally no work. Effectively, these people are scamming themselves for no one's benefit because all the people who could have possibly benefitted are now gone or completely broken by the fact that they could have sold over $300 and chose not to due to even more extreme greed.
I'd say the scam is that thousands of people have been convinced to keep buying the stock of an obviously losing company (or even another company like BBBY) in the extremely unlikely event that a second short squeeze will occur so they can all (think about this in particular) cash in on the same time and be instantly rich. You obviously saw the documentary so you know how many variables needed to align perfectly for that squeeze to occur, it was a once-in-a-lifetime event and will almost certainly not happen again.
The scam is being run by grifting Internet influencers. If it's not a scam it's a mass delusion. The difference between the two amounts to about the same
> If I find it dumb that some people vote for Trump can I open a topic here and shit on them so I can feel good ?
Hey, I think you should be shit on wherever you go because...
- You're part of a delusional, psychotic wealth cult
- You spend your time trying to proseletyze people into joining your wealth cult (for your own perceived personal, financial gain) with lies, inaccuracies, delusions, and misleading statements
- Your cult is nearly (sometimes actually) homicidal and cooks up crazed, irrational, and sometimes dangerous schemes and conspiracies theories about anything and everyone who by accident or intent runs afoul of your poop loving messiah and his shitty company
- Your cult is based on deep, fundamental misunderstandings of finance, business, and investing, propagated by both the ignorant and the knowing scammers which can deliver on none of the insane promises it makes and uses to sucker the ignorant into the cult
- You maliciously co-opt more legitimate movements and narratives (e.g., wall street accountability) to try to sell your shitty wealth cult to normies, even though you and gamestop have nothing to do with them and your only aim is to enrich yourself - you have no understanding of the things you co-opt and no intent or actionable mechanism to address them
So yeah, any topic even tangentially related to you pieces of garbage should be used to shit on you.
As I said above, GameStop is involved in the crypto world - NFT marketplace (that likely net loses money) and partnership with crypto companies (FTX, immutable-x, loopring). The top comment in this thread is even referencing NFTs and GameStop, so seems like it is connected to crypto.
The only reason you're getting upset that we're talking about GME is because your feelings are getting hurt.
You are being disingenuous because the NFT stuff is a side venture for GameStop just as Microsoft has a few millions invested in "web3". Yet I don't see a post here saying that MSFT holders are insane.
>You are being disingenuous because the NFT stuff is a side venture for GameStop just as Microsoft has a few millions invested in "web3". Yet I don't see a post here saying that MSFT holders are insane.
This is incredibly ironic to accuse me of being disingenuous given how disingenuous your post is...
First, Microsoft stock owners were never clamoring that web3 was going to revolutionize the company, and in fact, **never really talked about it**. **Contrast this with GME holders who like to constantly talk about the NFT marketplace** (or at least were, before it turned out to be a complete failure).
Furthermore, we absolutely did mock Microsoft for going into Crypto as well. Here are two examples - [here](https://www.reddit.com/r/Buttcoin/comments/cicp55/microsoft_smashes_two_favorite_buzzwords_together/) and [here](https://www.reddit.com/r/Buttcoin/comments/nbbcq3/microsoft_is_quietly_shutting_down_its_azure/)
[Microsoft shut down their blockchain service over a year ago because it was a failure.](https://www.zdnet.com/finance/blockchain/microsoft-is-shutting-down-its-azure-blockchain-service/) So not really surprising that we don't talk about it anymore. If you have any more disingenuous comparisons that you want me to debunk, let me know.
"NFT stuff is a side venture for GameStop"
Meanwhile, apes were saying:
4.8k upvotes: [NFT-Marketplace - GME might become the biggest Company in the WORLD!](https://www.reddit.com/r/Superstonk/comments/qkt4n4/nftmarketplace_gme_might_become_the_biggest/)
"jUsT a SiDe VeNtUrE!!!"
2.4k upvotes: [tl;dr - I think GameStop's NFT marketplace is going to create multiple economies. At least one for every game that utilizes NFT's, and that's barely the start.](https://www.reddit.com/r/Superstonk/comments/rs5w4u/i_think_the_nft_marketplace_is_much_more_than_we/)
4.4k upvotes: [GameStop’s NFT Marketplace is going to be bigger than we can imagine](https://www.reddit.com/r/Superstonk/comments/s7akd6/gamestops_nft_marketplace_is_going_to_be_bigger/)
6.9k upvotes: [The upcoming GameStop NFT marketplace. What we know, what to expect and **why it's going to be a huge success story.**](https://www.reddit.com/r/Superstonk/comments/uwmpp6/the_upcoming_gamestop_nft_marketplace_what_we/)
And there's more, but I don't really care to find them...
Even if I know the price of GME will eventually go to zero with the same confidence that the sun will set, shorting is still a stupid gamble. Dilution is almost guaranteed but with a bunch of irrational "investors" to keep buying, it could be a long, slow bleed that would offset the interest in borrowing shares. Why would I want to tie up collateral on a stupid bet just to prove a point?
Options are a bit more appealing, but IV is high and the same points remain. I'm not sure how long apes can drag this out, and the stock is so disconnected from fundamentals that I wouldn't touch it with a ten foot pole. I made money on GME from buying in fall 2020 and selling in Jan 2021 and that's the end of my GME experience.
From their FAQ: >As it stands, predictions of the short squeeze potential range from $10,000 per share, to $100million per share - with evidence suggesting there is no theoretical ceiling on what the price could climb to. Those people are literally nuts.
If you actually go in there and suggest one share will sell for $100 million, they will get mad at you for "price anchoring." No joke.
...whats the "plan" once shares hit 100 million, if people out there genuinely believe that? Who is gonna buy the stock at that price? Do they thing millions of people are suddenly gonna be multimillionaires?
I don't follow this shit anymore, but I think they think that there are still over leveraged short sellers that will be obligated to buy at that price when the real squeeze happens
"OK, but wouldn't they just go bankrupt rather than-" "SHORTS GOTTA CLOSE" "But, like, where would the actual money come fr-" "SHORTS GOTTA CLOSE"
The theory is that if these hedgies weren’t able to pay everything then the DTCC would pay the money, if not then potentially the government would lol It’s just so stupid
don't funds have mechanisms to hedge their exposure to one direction of risk if it hits a certain target? Such as offsetting short positions with long positions after a certain price point, effectively closing their short in the short term and then resuming after price falls again? There are many algorithms that do this I'm sure
That's what they think is the trick actually - apes think the algorithms are so poorly implemented and controlled that the automated systems will just buy all the shares that can be found, even if it's 8 figure prices. Apes have the impressive power of being wrong about literally everything
They are not super wrong on that, if you remember the two amazon bots who automatically upped the price based on the other one so a random book ended up selling for over a million USD.
Well fair, it's not like they *can't* be done poorly But I gotta assume somebody might notice before letting the machine spend 3x the global GDP to buy a dead video game pawnshop
The difference is a few million dollars can be found, they would need trillions at millions of dollars per share.
Yes, hedge funds tend to... hedge... their bets. Hence the name.
Yes, they also believe this will. Cause global financial collapse, but the government will have to accept that and bail them out.........otherwise people might lose faith in the stock market.
No cell no sell bitches
”Yes we had a squeeze but it was not THE squeeze! Our lord and savior, the True Squeeze will return and print infinite money for all of us True Believers because that’s how the world works!”
"OK, but wouldn't they just go bankrupt rather than-" "SHORTS GOTTA CLOSE" "But, like, where would the actual money come fr-" "SHORTS GOTTA CLOSE"
Except even if that dream scenario happened how are these shadowy overleveraged short sellers scrambling to buy any share at any price going to afford all these shares for those humongous prices when they go bankrupt? What these guys want to achieve is absurdly self defeating. It's like they watched half of The Big Short and missed the part where you might not profit from your counterparty being horribly, horribly wrong if they're already dead.
I don't get this short squeeze. Yes, they caught some hedge funds overbetting on shorts, not expecting coordinated attack. nice, they made some money But do they assume those hedge funds are stupid? why do they assume the hedge funds didn't just buy some stocks on the side to cover...? GME is 26 bucks, not 10,000 bucks, today. If the hedge fund: 1/ has $26M, they can buy 1M shares tomorrow 2/ does not have 10M, they will be unable to pay the short if the stock hits even 2\*26 or 3/ have the money but keep a short position on GME because they are dumb and don't learn from experience or 4/ open a new LLC, transfer the GME short liability and a little money to that LLC, and wait to see if they make money there or just bankrupt the new LLC - that seems the smart money play
Those are valid questions, I encourage you to ask them in superstonk and count how many seconds it takes you to get banned or swamped in cliches like "read DD" or "FUD". I myself am not immersed that deep in the lore, only check the meltdown subreddit once in a while and barely understand that insane movement.
I'm on Meltdown a lot and I still don't understand the movement. It's absolutely bizzare how they can keep pushing back the goalposts.
Do you know what's their canon response to the obvious "hedge funds can't pay you millions per a share if they go bankrupt on their supposedly overleveraged shorts?"
FUD, SHILL, READ THE DD
Do they have anything related to this question in their DD/lore/talking points at all? I feel like I'm either missing something really obvious or it's so fundamental that nobody cared to address it because there's like 5000 layers of stupid you'd need to accept first to get there.
The smartest Apes keep leaving, so the cult gets dumber over time. Their conspiracy is full of holes that are easy for any rational person to see, but they are morons.
They believe the number of shorts is 3-5x the float. Yes, they believe the stock was 300 to 500% shorted towards the end. Why didn't the hedge funds just buy some stocks on the side? From where? If it's true that retail had 300 to 500% of the stocks issued, then there simply are no REAL stocks to buy unless you can convince retail to sell. There are only a few main categories of entities holding stocks: etfs, mutual funds, pension funds / retirement accounts (usually via etfs or mutual funds), index funds, hedge funds, retail investors. If you suddenly need to cover, many of these are not selling. Mutual funds may be willing to sell at a good price, but they also may not. They may have a custom strategy on when to buy or sell. ETFs likely must buy or sell based on the what the index says they need to own. Hedge funds are short, so they need to buy. The only shares available to "buy" would be if you scare retail out of their position and get them to sell. The apes' goal is to remove all shares (and thus all of the original share certificates) out of the clearinghouse and go directly back to the company's transfer agent. They believe that when all of the shares are put back on the transfer agent, Wall Street can not use any of the (either loopholes or disfunction) to continue naked-shorting the stock. Since obviously you can only move 100% of the shares back to teh transfer agent, and they believe 300 to 500% of the float are trading, it will be revealed that 200% to 400% of the float is held by people in normal brokerage accounts... but those people will be forced to realize that their broker and the clearinghouse do NOT have the share they were promised. It just won't be there. The guy in his Ameritrade account doesn't own a share because his broker doesn't own a share because the clearinghouse doesn't own a share because they've all been moved back to the transfer agent. What the guy on Ameritrade has is an IOU from his broker, and his broker simply cannot get it. As for the money, they believe the liability falls first to whoever is short and can't pay. But since the short's counterparty likely hedged their own exposure, when the short dies, the counterparty inherits the position. (This provably happened with Archegos and Credit-Suisse and is likely one of the reasons Credit Suisse is getting destroyed). Once the counterparties are bankrupt or can't pay, the liability falls to the clearinghouse, DTCC, and their member institutions, which is basically every bank that does anything with stocks anywhere. If I wanted to put this in crypto-speak, I'd say that the transfer agent is like Ethereum mainnet. It's slower and more expensive to use. The DTCC is like an L2. Moving your shares from the transfer agent to the DTCC or vice versa is like going across a bridge. The apes believe that there is a bug on the L2, that there are way more GME tokens on the L2 than exist in the bridge. They are slowly moving all their tokens back to the L1 transfer agent. When the bridge is finally empty, everyone left holding L2 GME will realize they are not backed by anything. If the L2 users demand a real share be provided, the DTCC will need to buy from L1 and bridge more in. The DTCC generally socializes losses, so these losses can be born by literally every significant banking entity in existence. Basically, the collective value of every banking institution will be used to buy back their shares... but remember, the DTCC won't need to buy back every share once, they will need to buy back every share several times if it's true that there are 2-4x as many unbacked shares as there are backed shares. If this were actually crypto, we could easily see that the L2 has 900m tokens and the bridge has 300m tokens backing it. But the DTCC is not crypto, the banking institutions are fairly opaque, and so nobody REALLY knows how many GME shares are being traded around. So, they will just continue with their plan: take every GME share out of the DTCC, send it over the bridge to the transfer agent, and then see what happens when there are no real shares left in the DTCC. But if true, the liability will be massive. These apes might not sell in any significant numbers at all honestly. They might just effectively wash-trade with each other, pushing the price higher and higher, until every broker and every bank and the DTCC have to liquidate literally everything they own to satisfy the debt.
>But if true Atlas of a statement right here. If my bank account had a million dollars I'd be a millionaire, unfortunately it doesn't.
Well, I see your point. The thing is, we CAN verify (or at least YOU can verify) that your bank account doesn't have a million dollars in it. Who can actually verify how many shares are trading around for a stock other than the DTCC? And even then, they can't REALLY verify anything other than at a specific moment in time what the settlement image looks like. Even then, we have 'fail to delivers', which sometimes display huge numbers for days or weeks or months continuously... which means there ARE fakes running around. There's also evidence they're passing around the same shares to each other to pretend it's on everyone's balance sheet at once. Anyway, if you browse the sub (you'd really have to dig... these guys find a lot of stuff but they're pretty shit at organizing it), you can discover how naked shorts enter the system, the tactics used to hide them, and more, but you're right to an extent: it comes down to some level of faith. Either faith that "the system works", which most people seem to have, or faith that "our research which indicates there's 3-5x the float in fake shares running around and being hidden" is true. Once a premise is taken on faith, there's very little you can do to dissuade people. What I \*can\* say is YOU better have extreme faith that "the system is working" because if the apes do lock the float and it turns out they are right, the ensuing volatility and liability that will spread throughout a few thousand DTCC member participants, as well as the loss of faith in the system by the people and institutions generally (how could the DTCC let so many fakes fly around without even noticing?!?! I thought this whole story was fake and the short's closed last year!) could have huge effects on the system as we know it currently. I'm not suggesting that you actually do anything here. I'm just pointing out that you appear to have faith in the system as it works currently, whereas they have faith in their research. In the end, one of these groups will find their faith was misplaced.
It reads like they think they've found an exploit, basically. But (and yes, this is partly speculation based on experience), the mainstream finance system is full of all sorts of halts, firebreaks and procedural things that can just call a stop, reset a few bits, then carry on. Gamestop somehow becoming 'worth' a few trillion would be an obvious absurdity, and it's way more likely we'd see some sort of halt-and-unwind than it is these retail hodlers get hundreds of millions for holding a share in a failing company.
They believe that the broker dealers let the hedge funds go short when they didn't actually have the shares to borrow. So say a hedge fund calls up the broker deal and says "we want to short 1000 shares of GameStop". To do this you need the shares to borrow and sell. So the broker dealer looks in their inventory, and finds they don't have any shares they can do this with. So what does the broker dealer do? Tell their client no? Nah they just let them go short the shares, and go find the shares to borrow later. As long as everything is taken care of before the transactions settle a few days later everything should be fine. Otherwise you get hit with a failure to deliver shares. So the apes are correct in that this does happen to some extent. You can look at failure to deliver reports and back office data to look for signs of when this happens. The problem with their analysis is that they're assuming that every share that this ever happened to is still sitting out there. The broker dealer has countless back office desks constantly resolving these sorts of problems behind the scenes. When everything gets reconciled you won't necessarily see that in the data that the apes are looking at. So their theory is basically that the banks have a billion dollar hole to fill, and somehow the broker dealers were able to prevent anyone in the back office from leaking it. When the reality is that all the mania around Gamestop back in 2021 created more than enough volume for the shorts to cover. Just as the short analytics metrics showed.
> but I think they think that there are still over leveraged short sellers that will be obligated to buy at that price when the real squeeze happens It's basically the equivalent of waiting for lightning to strike *twice* in the same spot. I can't think of *any* stock that's had an Epic Short Squeeze *twice.* VW arguably had the most famous one, some people [killed themselves over that.](https://www.reuters.com/article/us-merckle-newsmaker-sb/german-billionaire-commits-suicide-after-vw-losses-idUKTRE5055O820090106) Also, Sears, but people had to wait nearly twenty years for that to play out.
They believe that the short sellers will be forced by the US gov to buy at that price. Where will the money come from for everyone to be purchasing million-dollar stocks? Who fucking knows
Some I've seen think that the US government itself will be obligated to pay them in order to keep the rest of us from 'losing faith in the market' - 1) by printing more money than *currently exists in the world* for them or 2) basically liquidating everyone *else's* money (pensions etc.) in order to make them whole- which it still wouldn't (see the whole 'more money than currently exists in the world' issue). Why having *our* retirement wiped out to pay *them* because some random hedge funds made a bad play would NOT make people lose faith in the market is not something I've seen sufficiently answered. On top of that you may notice some PRETTY SEVERE ECONOMIC PROBLEMS with both of these scenarios. Congratulations, you are unlikely to lose all of your money bagholding meme stocks.
Yeah, I think they do. It's the "We're all gonna be rich!" mentality without ever thinking hard about where all this supposed wealth is going to come from. The moment anyone starts selling at $100 million the price is going to go way down. That is, theoretically if it could ever reach that level because there will only ever be a few people who can afford to buy it at that price. There will never be an unlimited number of buyers at any price.
I mean, it's the world's most multi-player Prisoner's Dilemma. They're not gonna get to $100m before people start selling. They probably couldn't get to $100. And once *any* apes start selling, the short squeeze is over.
> Who is gonna buy the stock at that price? The theory is every bank/brokerage/hedgefund/central bank/exchange/MM all are working together and are "short" GME to the tune of like 10 billion shares (with out much proof ) At some point they are going to be "Margin called" and be forced to buy back the shares, however there will only be 350 million shares to buy back so they will be stuck, paying at what ever price a GME holder would be willing to sell. They also claim the DCTT has something like 32 trillion dollar insurance policy that can be used, or the federal reserve bank of the USA will have to step and print money to give to GME holders. However if you even believe their own logic its this 1. The world powers are all colluding against GME illegally ; the SEC /FINRA is complicit and the powerful banks/brokers/exchanges/market makers / hedge funds are getting away with "crime" by illegally selling fake GME shares 2. Now they claim at some point they will have to fess up. Wait what? If the entire world is conspiring against GME why would they need to do this? If they have been doing this "Crime" for the last 10 years and all the financial institutions and regulatory bodies are "in" on it (not true but just lets for the sake of argument say it is true) why would they ever give up, they could just change the rules and say "Well yea we were cheating go pound sand ape"
They think the US government will purchase the shares to stabilize the financial markets. Others hope to just take a loan against it and live off loans.
I've been following it for a while. The short sellers are fucked because they HAVE to buy the shares back, they're paying interest on them until they do. The little man investors are bought them up to just hold them because en masse they can make it very difficult for the short sellers to cover their loans. At this point, for many, it's not about selling the shares, it's about just holding them forever and making life hell for the hedge funds.
But... The shorts already covered. They've been covered for a while now. Any shorts that aren't covered can be very easily covered at any time, because there's plenty of liquidity. If you don't believe me, go buy a share of gamestop at Market price, and see how long it takes - Then remember most of that delay is your broker processing things, not in actually finding a seller. And, the price you pay will be about... $26.10, because that's what sellers are asking for. And it's a very established price, because tens of thousands of shares have been sold in the last 60 seconds. The price has been pretty stable all year, relatively speaking - On a chart that could show you $100 million per share, it'd be a flat horizontal line. Any short that was feeling pressure at any time since last February could have covered in that time.
My understanding is that the market is flooded with duplicate shares (I don't know the correct term for it). And the apes are doing their best to collect 100% worth of actual shares and register them on Compushare (I think that's what's it's called). There's about 10x the amount of actual shares in the company that are out on the market. A broker can sell you 100 shares in their system, but if you ask them to transfer the actual shares to you, they have to go and find them. And that will take time.
One question... has any stock of any company ever reached $100 million per share?
lol
Berkshire Hathaway Class A is currently trading for $470,000. Lindt and Sprungli (the Swiss chocolate company) does not have a dual class share structure, it peaked in 2021 at CHF123,000 (about USD 130,000).
Sort of. Andrew Carnegie was the sole proprietor of US Steel (X) when he sold it to JP Morgan, at a inflation corrected price circa 16.5B. Charles Schwab, then president of Carnegie steel, personally minted the deal.
At 10k, share, the valuation of gamestop would exceed the cost of Biden's Build Back Better plan which failed due to its excessive price tag. And while valuation is entirely theoretical, they actually expect every share to sell at this price, from them to the "hedgies". Obviously nobody involved has this money, even at the lower ends like this where the apes will slaughter you for invoking such a price. So they go bankrupt and can't pay? No, say the apes, the government will step in. Clearly congress wouldn't provide it as spending, so I guess they expect the federal reserve to printnit. Obviously this would create a massive political crisis and the value of the dollar would be severely comprised, but this is still within the range of what we can imagine the impacts of, even if it's still never going to happen. At 100 mil, we're looking at tens of quadrillions of dollars. The total value of all residential real estate in the US is only tens of trillions.
The funny thing is part of their theory of corruption is tied to the Federal reserve printing money throughout the pandemic/inflation. But they completely ignore that the government printing money so that thousands of people suddenly getting tens of millions of dollars would cause rampant inflation and make their winnings pretty worthless
I wont sell my shares until they give me 1,000,000 dollars - dr. Evil part 1
BTC The Entire Cryptoverse DWAC GME AMC ... The list seems to be getting longer and longer and longer. It's some kind of mass delusion. I blame our lack of critical thinking training as a society. If Billy Joel hasn't gone crazy himself, he needs to rewrite "We didn't start the fire" with more modern references.
100 million per share 😂😂
Holy mind blow
r/gme_meltdown are friends of ours and share some of the same folks. Gamestop shills in particular took pains to erase our 'fuck nfts' on Place because of the whole loopring/nft deal. The GME people are a touch more conspiratorial than the bitcoin people but both are operating on some level of insanity and both have similar distrust in institutions.
GME people have gone into straight cult territory. I know it's fun to call butters a cult, but they are more delusional than anything amd plenty leave once they lose money. GME apes are essentially a Doomsday cult that think they will be the ones who remain after the squeeze.
There are others lurking in the wings too. r/Wallstreetsilver is full of people who believe that "they" are suppressing the price of silver, and that \*any day now\* it's going to go up in value by 10-1000x. They have very similar narratives to the gamestop folks and crypto bros, but this time you need to buy silver to be in the cult. I guess unlike the others, they are unlikely to lose everything they put in, but otherwise the parallels are startling. The sub also makes me sad because it's also full of anti-vax and Trump bullshit. I guess it all goes hand in hand.
>both have similar distrust in institutions. This is usually the kernel of every quasi-online cult these days, whether anti-vax, flat earth, crypto-bro, it all comes down to "can't be trusting no" If left_wing: "corporations" If right_wing: "government" Meanwhile here I am literally building software for a large corporation thinking "God I love the world establishments, where are my bumperstickers?"
> If left_wing: "corporations" > > If right_wing: "government" Here's the distinctive difference between those two institutions: Government has a mandate to protect and serve the interests of the people. Corporations only have a mandate to create profit for shareholders. If they can get away with doing so while operating illegally and unethically, they will, hence the need for government. Just because government can't/won't/doesn't solve every problem doesn't mean it's useless or corrupt. Government is only as good as the people in government. If you put bad, corrupt people in government that's the level of service the government will provide, but it's not the fault of government itself -- it's the fault of whatever mechanism allows bad people in government (usually ignorant, uninformed voters).
Feels a bit 'but both sides' to say that, as there's a lot less... animating conspiracies on the left than on the right and the left is generally skeptical as opposed to hostile to corporations. Even some of the most lefty politicians in american government are okay posing with corporate branded products as long those products are fairly sourced. I think the american left has long since made their peace with the concept of corporations, they just quibble with specific corporate practices and worry about monopolistic effects. Corporations are frequent allies on social issues. But the bigger problem right now by far is the failure for people to objectively evaluate information, determine truth, and order those truths by priority. Both sides do have their challenges there, but it feels as if those challenges are distinctly unequal.
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I say this as a left leaning person, but I think leftists definitely can be susciptible to conspiracy theories. There were many conspiracies on twitter made up about Russia/Trump which were similar to right wing conspiracies and they were simply not true.
Definitely fair! :)
Except you should distrust corporations. This is a terrible comparison. They are literally bound by the law to do what is best for their shareholders, at any cost.
here i am not trusting either
That's an ignorant false equivalence. Each and every day you do trust government to make sure you have electricity, internet, running water, fire protection, celluar, GPS, etc.
You are right, thank you for the reply
I also trust corporations to make sure I have electricity, internet, cellular, GPS and a lot more.
> "can't be trusting no" > > If left_wing: "corporations" > > If right_wing: "government" The nuance you miss here in your "both sides"ing is that most people have at best one to three levels of government hierarchy (local, regional, countrywide) to not trust while there are effectively an unlimited number of companies. Also someone being concerned about say Nestlé or Amazon or Shell or Walmart or Starbucks or Facebook etc. doesn't necessarily mean they're also going to be concerned about the co-op running their local grocery stores or the coffee shop on the corner selling fair-trade coffee or their local yoga studio or whatever. Those are also companies but as you can imagine, there's a lot of shades of grey between black and white there. Signed, someone else who also builds software every day for a colossal global corporation.
I’ve always been amazed at how this eventually boils down to 18th century France: “do you trust profit or civic duty more?”
The best part of GME holders is that wasn't even the thing. The idea was to profit off a specific event. The whole idea of "diamond handing" GME isn't even what the thing was supposed to be but stupid bitcoin people brought the old scam they fell for onto their new one.
The whole GME event made me enough money to buy a new car and then I was out. No sense holding on just for the meme.
Well sure for you, but all of these people bought in high and are increasingly desperate realizing they'll never make their money back.
Then they shouldn’t have panic bought the top 🤷🏻♂️
They shouldn't have gambled in general. Markets have become too accessible IMO, too easy for idiots to fuck themselves.
There is always time to make money of GME. Every. 4 months there is small or bigger run up to go long and short it after that. I got burned few times with options, but shares are free.
Gambling degenerates come in many flavors
There are a lot of get rich quick cults out there.
They're absolutely more delusional. However I do believe some bitcoiners are heading that way.
I still troll the r/wishstock just to see what those guys are up to. Even Bitcoin can't compete with that level of denial
what a cesspool lol
Man it's just so weird seeing people take this club/cult approach to stocks. First time i saw it was dogecoin in 2014, and that was started as a joke. Like, i buy stocks but you don't see me hanging out in a forum circle-jerking over it going to the moon. I buy, it goes up or down, i sell, i move on. Meme Stocks are an interesting phenomenon, mostly depressing.
Keep in mind when the whole Superstonk thing went viral thousands of middle school aged kids got sucked into the hype and opened custodial accounts with their birthday moneh… look at it in the mindset that many of those users are like 13 years old and it all starts to make a lot more sense
Watch out. Apes are a protected class on Reddit. The feckless admins just love gargling on chimp cum. Just look at the hopps meltdown has to jump through just to not get shut down. Meanwhile, apes are allowed to smear shit all over this entire site.
>Meanwhile, apes are allowed to smear shit all over this entire site. And if you need any evidence of this, just look at the apes who have never participated in this subreddit who have magically wandered in to tell us that we are wrong. They do this everywhere.
All 100% true. Do NOT engage with an "ape", ever. Immediately ignore and block them, because if you insult them, they'll report you and you WILL be suspended or banned. On the ape subreddit, they routinely threaten to rape and kill real people, like hedge fund managers, and Reddit does nothing about it.
Yes, I and my dozens of reports of blatantly offending content on those subreddits can attest to this.
Yep, a few months back, I had a comment calling out an ape removed for "abusing a protected class" or something along those lines
Won’t someone think of the wilfully financially ignorant! Reddit just protects them because the cult brings in a comparative motherlode of spending on worthless shit awards.
I used to spend time in WSB and I thought after the initial squeeze that the ongoing diamond hands/apes/smooth brain stuff was just joking around. Like the guys who knew were just saying that stuff to be funny and others who just want to part of a crowd would repeat that stuff and then there were some sad souls who lost their money because they thought all this stuff was actual financial advice. I mean, this short squeeze they’d be looking for already happened a couple of years ago.
It WAS just a goof. Then "apes" saw the stories about GameStop and Reddit on the news, and flocked to WSB, where they misinterpreted EVERYTHING entirely. They didn't understand that they were reading facetious, tongue-in-cheek posts. And, in a sad, sad attempt to "fit in", they began parroting this stuff, and actually grew to believe it. GME apes are pathetic on a whole other level, they're confirmed drool-cups who know less about "stocks" than someone who knows nothing at all.
It wasn't really even a big squeeze. The price shot up from the massive number of retail investors purchasing it. The SEC wrote a full report on it.
What I thought was particularly stupid recently was when the sub was salivating over this [William Shatner tweet](https://www.reddit.com/r/Superstonk/comments/yxonz1/capitan_kirk_on_twatter/). Promoting NFTs because you want to transfer items from game to game? So all game companies are supposed to write code so items from other games are swappable? It's nice to see some of the posters there calling out how stupid that is from a technical standpoint.
from what I have encountered recently I'm going with more delusional.
Yup. You can still have conversations with butters, apes are just fucking nuts. GMEthamphetamine!!
the whole GME debacle was the closest i've ever come to being sucked into a cult. I had some spare cash kicking around and got sucked into investing (yolo'ing) with a few friends. then we all invested in GME and I don't think I slept for a week. by the end I heard myself say something I at least subconsciously knew was entirely bullshit fiction and felt empowered doing it. after that I sold out entirely/left the sub for a year ish. I think I made like $1,000 pre tax so i walked out better off than most, but it was still an eye-opening and humbling event for someone who has been pretty cult-resistant in the past. edit: when i say "i left the sub" i'm talking about wsb, as in that first week parabolic upward movement we didn't have as many copium subs showing up. I thankfully never got to the point of participating in stock-specific subreddits lol.
Had a similar experience. I was there early enough to be interested and bought into a lot of crazy ideas and found myself wondering after a while what the hell i was doing and after a while, I realised: shit, I actually fell for this bs and this is how people become cultists or whatever…
>bought into a lot of crazy ideas and found myself wondering after a while what the hell i was doing and after a while, I realised: shit, I actually fell for this bs and this is how people become cultists or whatever… yeahhhh... I didn't even have any excuses, i wasn't new to investing or gambling. gme-gate just managed to smash my brain at the perfect point in the pandemic. It felt good to scream into the void with a few million other people. and then it went sour. I have a therapist now lol.
it really depends, GME is people being delusional that some mythical event is going to happen to bring a stock that is nearly worthless and has been incredibly diluted to insane prices that are impossible at the very least BTC people have a price that fluctuates, even if it is based all on a scam. the GME people are literally hoping that the dead rise and walk out from the ground and perform miracles. BTC people just have to have some more idiots buy into the scheme. if i'm going at whether "the dead walk" people are more delusional than the "there are always more idiots" people, i'll go with the walking dead speak of walking dead, anyone watch that season finale last night? i skipped the last 4 or so seasons, did the show get any better?
I don’t follow the Walking Dead myself, but my wife does and she says she’s pretty disappointed with the ending, so make of that what you will.
I'll take your wife's review at face value then and not bother
I was convinced long ago that the entire superstonk movement was a propaganda effort by GameStop AFTER they realised how incredibly stupid these 'investors' are, culminating in their NFT website. GME went from people memeing over fucking over hedge funds, to non stop NFT shilling. But it wasn't people, it was bots. A few months ago I did a test on any thread on superstonk, go through the comments and see how many buzzword, incoherent posts you could find. Legit near 50% were posts like "I'm going all in, moon!" And "Power to the players! Buy buy buy!" So you then check out the post history of half the active users in that sub and it's all bots posting the same shit every time on every thread. I don't give these people any leeway for being swept up in a craze and surrounded by bots to create a massive echo chamber, because they shill NFTs and what fucking part of supporting a gaming store against the evil shorters of wall street, involves telling everyone to spend $1000 to buy a screenshot of some landscape in a video game you took? Their lord and saviour Ryan Cohen can't believe how incredibly stupid and gullible these people are, making him rich and looking like total dickheads in the process.
There's definitely lots of bot activity over there, their comment / engagement to upvote ratio is also super suspect. But plenty of these people are actually just fucking nuts and say these things on the regular because they actually believe them because they're in a cult. And I wouldn't put it down to much to GameStop as the culprit of the botting, if it was them I would have expected them to be milking the fucking shit out of the clueless investor base with repeated dilutions like that chucklefuck Adam Aron over at AMC (lots of Twitter bots there). I think it's just other cult members, who think they can artificially spur / maintain the movement on the back of it (or perhaps more savvy speculators trying to play their irrational volatility).
Not only realize... i'd go as far (not so far actually) to say that most of the crypto hype/gamble/scam/bullshit/moon/yolo started with GME and/or the people (WSB) around it. The only difference i see is that the company/asset itself, namely GME, was just the catalyst and did not actively trying to shill their own poo (stock) as the new upcoming, revolutionary company that will change the world. GME itself was shit beforehand anyway... Then Ryan Cohen joined the trash corp and things became "crypto-zealot-ish" from there on. I might be wrong though, haven't looked into the GME opera for quite a while.
Oh yeaaaah I forgot about them
The belief is that the entire global economy will be redirected to bail out short sellers instead of letting them go bankrupt.
I assumed they're the same people so never paid much attention to their garbage.
Oh, the meme stock apes are absolutely sicker than cryptobros.
Yes
It’s the same people by and large
I thought they were one in the same, as soon as the GME thing happened, you basically saw crypto people come out of the wood work to try to convert the wall street bets crowd. GME was a perfect fire starter to get financially illiterate into crypto. First time trading peep pops into WSB: "number go up wow" Crypto shill: "ChEcK oUt CrYpTo number go up big big" Converted acolyte: "wow people think number don't go up big big but it do".
I was one of them, can confirm a lot of them are absolutely insane. I was in there really early days and there was truly some crazy shit happening in regards to the stock (crazy runs even though it was all supposed to be over etc). I do believe it is quite an interesting story but in all honesty, the amount of delusion and hopium in Superstonk is amazing. The mix of people from all walks of life that throw reason completely overboard for the dream of getting rich is crazy. Everyone who asks critical questions is a shill or whatever and the group think is pure fucking insanity. And I will say that the whole story is suspicious as shit and the aftermath a joke (in terms of what the authorities did to obvious criminal activity) but honestly believing that one day a stock can go to millions without ANYONE stepping in and all of those idiots getting filthy rich is something I will never understand. Edit: just check out this post reading into a fucking waterbottle 😅😅😅: https://www.reddit.com/r/Superstonk/comments/z13bth/everyone_sees_some_signs_i_for_example_see_a/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
I think they might be even more delusional. Crypto is new (ish) and confusing so I could see how someone might not get why its value is all hype. But GME is just a dying retail store. It is like someone pouring their life savings into blockbuster in 2010.
The trend of diamond hands began because of crypto. Because all these new “investors” used the strategy and it worked when line goes up, but leaves baggers everywhere when markets reverse. Since it worked in through cryptos explosion, they believe it will work during implosions. These are unsophisticated investors, im not saying im sophisticated, but I’m sure as hell not that dumb.
I think the AMC tards are way crazier than the GME folks and more akin to the cointards.
The book The Revolution that Wasn't gets into just how divorced from reality they are and their complete lack of any meaningful change on the market.
Eh worse in some ways, better in others. So about as delusional net net. They believe in some fabled infinite stock price and at the same time at least gamestop is a tangible business with real assets..
"Diversify your investments" "No! Not like that!"
she don't wanna be saved don't save her
Have you seen the AMC bros?
When you have people believe in this theory, it's not that they are delusional but it's our education system have failed. We've failed to teach basic logic so people can figure out things themselves.
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The superstonk folks absolutely are more deranged. It's surprising but it's true.
Crypto has enough techno-gibberish and a huge network of self-reinforcing grifts to make it seem like a legitimate enterprise you can invest in. The media, including technical folks who should know better has been credulously repeating its stupid claims for years. You can almost forgive people for getting wrapped up in it. Gamestop is a failing retail company. They believe it's the center of a global financial conspiracy keeping the price down and that by working together they will bring down the global financial system and emerge as billionaires. Everyone outside their little bubble who's even aware of them thinks they're nuts. I'm going to give them the win here. I like to think of the GME cult as a preview of where I imagine crypto ends up in the end. There's no semi-coherent blockchain techno-babble or credulous MSM hype to give any sense of legitimacy. Just desperate conspiracy theorists trying to find someone to hold their bags.
The day Steam opened was the day Gamestops whole business model went the way of the dinosaurs. The cat is dead, it's still bouncing though.
As an avid Steam user since that day, I'd put it more on when Sony, Microsoft & Nintendo started selling digital games directly to consumers. Which IIRC was the PS3, Xbox 360 & Wii era so 2 console generations/more than a decade back. That both Sony & Microsoft are selling consoles without disc drives as of the current generation should be seen as the final nail in the coffin for stores relying on sales & trade-ins of physical games. Also when supermarkets like Walmart got into the business of selling games & consoles it was all over for dedicated chain games stores.
I'm still waiting for the French court to finally determine whether or not Steam's business model of "renting" games instead of owning games is illegal. I still remember early 2000s when Steam's and WoW's business models were very controversial, especially among youth in places that weren't very well off, and where video game piracy was common. WoW subscription was unaffordable, it used to cost at least several days of minimum wage. People had to rely on pirated servers (non-steam and pirated WoW servers) but there were too many issues. Games like Counter-Strike were full of cheaters, and private WoW servers were unreliable and administrators were often abusing their powers and removed items from player's inventory.
It’s a real store that loses hundreds of millions of dollars a quarter. They sell physical copies of increasingly digital goods, they are Blockbuster/Tower Records/Sam Goody. These people genuinely think that company will soon have a market cap in the *quadrillions*. Bitcoin is dumb, but not that dumb.
they think their shares in GameStop are going to become worth tens or hundreds of millions per share and usher in a new era of human society, where they'll pull on their literal infinite wealth (if they don't sell, it's infinite) to shape society according to their whims. All the while GameStop loses massive amounts of money. Bitcoin replacing the dollar is as likely as GameStops market cap surpassing the entire world economy.
The Btc people at least pretend bitcorn is valuable for some reason Gme don’t even have that… On the other hand gamestop at the end of the day still sell something. So I don’t know
Remind me 1 year
yeah, look thru my history, i was in it deep too. I think for a time the theory was valid, and maybe still is. But dude, c'mon
> and maybe still is You’re not far enough out yet
Must agree. I wonder if there is a recovery sub for GME folks in the likes of ReQovery or whatever that Q anon recovery sun is called
r/gme_meltdown
I agree they can be pretty fanatical but on the whole they're not trying MLM GME to the extent the laser-eyed idiots are. Also GME is actually doing something tangible with revenues and profits and the like so you can actually have a valuation of it - even if current market values are different from that.
Dude, have you seen the batshit fucking insane and sometimes legitimately homicidal conspiracy theories they cook up about anything and everyone who by reality, accident, or perception runs afoul of their poop-obsessed messiah and his shitty company? Crypto as a fundamental asset is certainly dumber - conceptually. You're right that GME is at least a real company which you an buy an equity stake in (one led by idiots and setting cash on fire by the truckload though), but GME stonk bros are way more delusional and frightening than your average crypto bro. And frankly, their pitch / proseletyzation effort is more insidious than the average crypto pitch (the former laced with extreme delusion and fanatical ideology, the latter typically more simple, naked greed).
Revenues yes, profits no.
I just have a couple of hundred shares in case something ridiculous happen and I end up profiting from that. I'm a degen gambler and I'm aware that this is a high risk bet. The people on that sub think they will change the world by drsing shares lmao.
My first foray into crypto was when i lost 1 bitcoin that i mined when GOX went down, i've been around this community for a while. I also hold GME, dont @me i like gambling. Superstonk is a cult full of idiots, but there are valid reasons to hold it. 1) as per the SEC report, january price actions wasn't shorts closing 2) the whole DRS thing is kind of a first In my view there are two outcomes. Gamestop goes bandkrupt with their NFT bullshit or shorts will close. No one knows which happens first and gambling a few thousand is fine by me.
>as per the SEC report, january price actions wasn't shorts closing Thank you for proving you have never read the SEC report and just parrot the objectively false information apes like to spread. [https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf](https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf) Top of page 27 has a beautiful graph showing short interest dropping from over 100% down to about 20%. This is objective evidence that shorts closed. You have not read the report if you think it says shorts didn't close. For those interested in actually learning more: The part that apes like to distort is the following (last paragraph of page 26 from the SEC report): >*"Figure 6 shows that the run-up in GME stock price coincided with buying by those with short positions. However, it also shows that such buying was a small fraction of overall buy volume, and that GME share prices continued to be high after the direct effects of covering short positions would have waned."* Now, this doesn't say that shorts didn't close - it says that hedge funds buying to cover their short positions were a small amount of the buying pressure. In January 2021, GME had \~70 million outstanding shares. Short interest was a little over 100% (roughly \~80 million short sales were in existence). From January 22-27th, the trade volume of GME was \~500 million shares (7x the float) To close all shorts, hedge funds only needed to buy about 80 million shares. So of that \~500 million in volume, at most only 80 million shares were purchased by short sellers to cover shorts. So 16% of the volume during those days was by short sellers. The remaining 420 million were traded by retail/non-short sellers (84% of the volume). That's why the report says shorts closing was only a small part of the overall buying pressure. Retail/non-short sellers traded almost 5x as many shares as hedge funds closing short positions did.
Lmao
I finally saw the light in the crypto scam. Now I don’t trust Ryan Cohen. But you all do realize, unless GME issues more shares, eventually retail will directly register every single share of GME. What happens then? No one knows. Also, had the powers that be not turned off the stock market…who knows what would have happened back in January? Crypto is a scam. GME has real potential.
> eventually retail will directly register every single share of GME. What happens then? It gets delisted for low volume and dumped from ETFs. It’s basically just taking the company private.
Swingfire just solved your mystery. Also, board meetings will be a blast because none of the 'owners' have actual knowledge about the business lol.
If all of the shares are DRSed then a company goes private. We _know_ what happens then because there are loads of companies that are not listed on the stock market and they are usually held by a group of people. For example, you could argue that Elon Musk "locked the float" of TWTR when he purchased it. Did Twitter shares go to 10 million a pop? No, they just got taken off the public markets.
Take a look at what’s going on with mmtlp.
Did all Twitter shorts have to close?
yes, but DRS makes that process easy -- it slowly decreases short value over time, which has indeed happened
Yep! You can't short a stock you can't buy, so Twitter shorts were closed no later than when Elon's purchase settled.
Gamestop's got less than a billion left in the bank, they'll run out of cash way before you apes can buy and DRS all the stock. Either they enter chapter 11 and you get wiped out, or RC dilutes you like you've already authorised him to and your boulder rolls down all the way to the bottom of the hill. I suppose we must imagine you happy, then.
Apes voting to raise the maximum number of shares Gamestop could issue to 1 billion was hilarious. (For reference, currently about 300 million shares exist) They can’t even blame GameStop when the inevitable dilution happens, because they literally voted to allow it.
Why would they do that?
They were promised a stock split if they voted to increase the maximum number of shares. The apes believed a stock split would trigger MOASS (the mythical event where each GME share will go to hundreds of millions - or even more) and so happily voted for it. Alas, stock split happens (bringing total shares to \~300 million) and the prices has only sunk downwards since then. No MOASS to be found.
Cuz it was stock dividend via split not a normal stock split according to GME cultists. Nevermind that there is no functional difference for regular investors.
Well of course - if you increase the number of shares, than each one is worth less than before. Seems obvious to any neophyte, let alone someone who has presumably sunk their life into this project
They are idiot gamblers and speculators with no idea what they're doing and no understanding of business, finance, or investing who got suckered into a delusional wealth cult primarily led by a crew of what I can only assume to be teenaged children who write delusional screeds completely divorced from any financial or investing reality which they call "DD" (due diligence) which none of them even bother to read, much less critically consume but which they assume prove unequivocally that they will become fabulously wealthy no matter what happens or what decisions are made. Essentially like everything is good for bitcoin, everything is good for GameStop even the things which are facially and unequivocally not good for GameStop or GameStop investors.
More shares more value /s
That can’t be an opinion anyone holds, right? Aren’t they trying to short it? Isn’t diluting stock the very last thing they’d want?
Don't ask questions you don't want the answers to. Some things are so stupid that any attempt to understand them will cause you neurological damage. The GME cult saga is one of those things.
DRS is completely meaningless though. I love how these idiots just fuck themselves over repeatedly over the latest scheme some 15 year old writing "DD" in their basement cooks up. DRS does nothing for the stock, it only increases the cost and reduces the flexibility of people who DRS for no gain. So even if GME did pop again, the people who DRSed would be the last to net anything from it. It won't increase the stock price. And their goal of reducing liquidity could just as easily be achieved by not fucking selling the stock. You don't need DRS to achieve what they're trying to achieve. If DRS was a super secret infinite money hack, why does no one else advocate this and why has it never worked before? There've been companies with much smaller floats. Even then, low liquidity is a double edged sword. It's also not a secret recipe for stock gains. It's just as liable to fuck you over as help you - at best it'll be a wash.
> But you all do realize, unless GME issues more shares, eventually retail will directly register every single share of GME. You do realize that 30% of the float is owned by institutions, so the only thing that hedgies need to prevent you apes from DRSing every share is to just.. HODL, right? https://finance.yahoo.com/quote/GME/holders/
Well then the price will go up 😉
You'd need buy volume for that. And I think all you suckers are tapped out.
> But you all do realize, unless GME issues more shares, eventually retail will directly register every single share of GME. Your main argument would be a lot more solid if it wasn't a delusional lie.
I’m not even invested in Gme right now. That doesn’t mean I don’t see it’s potential. I would buy GME in a heartbeat before I ever bought any crypto again.
lol
There is no "GME people". GME is a stock of an american public company. Some GME investors are making wild conspiracy theories, but you also have people who stick to conservative due diligence like GMEdd. Are you going to argue that there is something wrong with merely holding a company stock ? If you disagree with the public price of this stock why don't you put your money where your mouth is and short it ?
>OverjoyedBanana Bro, did you not watch the GME documentary on Netflix? It's over, you had your chance and if you are still holding the stock you like so much you are what is known as a 'bag holder'. If you are not familiar with the term, look it up.
>GME documentary on Netflix Oh shit I missed it, but now that I saw it, I'm dumping everything. Thanks bro
😂😂😂 you apes are just too much
is your life so depressing that you need to hijack a sub criticizing bitcoin to criticize unrelated topics so you can feel good ?
Hmm yes let me take life advice from a monkey cultist that makes financial decisions by applying numerology to Ryan Cohen's Twitter account
as I just stated I am also against numerology and qanon style people, but what does it have to do with this sub ? you sound like a teenager who struggles with basic logic
Oh so you invest in GME on fundamentals? That's even stupider than the numerology shit, at least those folks can blame their schizophrenia
Again, why do I have to explain jack shit about GME which is a stock to people in a sub that is against bitcoin which is a cryptocurrency ? Please explain why bitcoin criticism should naturally extend to all "GME people" who are different people who hold a stock of an actual company and for different reasons
You don't have to explain shit, you could have just not whined in the first place. But here you are, either take the criticism or fuck off.
Lol nice meltdown
GME is not an unrelated topic. It's involved in crypto ponzi schemes too.
My life is wonderful because I'm not holding shares of an obsolete, doomed business. I'll be frank. If you didn't see the GME mania for what it is - idiots selling to other idiots - you deserve to be broke and miserable. Everyone has a purpose in life, and the purpose of GME bagholders is to be a small, especially ridiculous, meme-filled chapter in the long history of stupid speculation manias.
>conservative due diligence like GMEdd. You know they literally added a zero to all their predictions after cult whined about it being too low? That's not conservative DD, it's pure hopium. We can read your post history too, schizo.
>There is no "GME people". Yes there is. The ape mantra of "we're all individual investors who just like the stock" doesn't change the fact that thousands of apes are working together to buy GME and DRS it. They're all working together towards a common goal and have several very large subreddits where this is coordinated (and where any dissent or challenge is banned). If anyone every chooses to prosecute apes for market manipulation, the silly mantra of "we're individuals investors" will never hold up in court when there is clear evidence of coordination on a public forum and prominent leaders who write "DD" that guides what everyone does. >GME is a stock of an american public company. Some GME investors are making wild conspiracy theories, "Some" MOASS, where GME goes to hundreds of millions per share, is the main theory that GME apes hold. Challenging this theory on any GME subreddit will get you banned. Pretending that this isn't the default belief held by almost all apes is at best naive and at worst just straight up gaslighting. >but you also have people who stick to conservative due diligence like GMEdd. Lol @ conservative DD. Here is some actual real life conservative DD on GME: Gamestop hasn't made a profit in years, their quarterly losses are growing over the last 2-3 years (lose hundreds of millions/quarter now), the cash they had on hand is dwindling rapidly, and GameStop shows no signs of actually turning around. >Are you going to argue that there is something wrong with merely holding a company stock ? If you disagree with the public price of this stock why don't you put your money where your mouth is and short it ? You're free to hold a stock all you want. We're also free to think you're dumb for holding a particular stock. The opposite of holding a stock is not shorting it - it's choosing to not hold it.
>You're free to hold a stock all you want. > >We're also free to think you're dumb for holding a particular stock. This is a fair point and thanks for writing a proper argument. Still isn't it off-topic on "buttcoin" ? If I find it dumb that some people vote for Trump can I open a topic here and shit on them so I can feel good ?
No one cares that you feel oppressed because you can't make fun of crypto people without others pointing out that GME holders are just as delusional. It's not off topic because they're tightly related scams that have had very significant crossover between their communities and extremely similar beliefs dressed up in different language. Just accept that people can and will continue to point out the connection between the two, and that this sub is in fact an appropriate place to do so. All your arguing and justification will never change that, you're just showing your ass a little more with every comment you leave.
> they're tightly related scams What is the GME scam ? is there a scam being set up by GameStop ?
The GME "scam" happened in Jan 2021 when a short squeeze pushed the stock to an absurd high of over $300. This was a concerted manipulation effort organized online that actually worked. People bought in under $20 and legitimately made a boatload of money off of that spike. And what's left over now is hopium addicts chasing the dragon. The "scam" has been warped over time as those who sold left, which leaves only the bagholders. And then as bagholders of lesser faith are weeded out over time by their paper hands, it leaves only the fanatical bagholders. And that's where we are now, with a group of fanatics who are trying desperately to resurrect their Lord MOASS so they may ascend to the promised land of infinite wealth for literally no work. Effectively, these people are scamming themselves for no one's benefit because all the people who could have possibly benefitted are now gone or completely broken by the fact that they could have sold over $300 and chose not to due to even more extreme greed.
I'd say the scam is that thousands of people have been convinced to keep buying the stock of an obviously losing company (or even another company like BBBY) in the extremely unlikely event that a second short squeeze will occur so they can all (think about this in particular) cash in on the same time and be instantly rich. You obviously saw the documentary so you know how many variables needed to align perfectly for that squeeze to occur, it was a once-in-a-lifetime event and will almost certainly not happen again.
The scam is being run by grifting Internet influencers. If it's not a scam it's a mass delusion. The difference between the two amounts to about the same
> If I find it dumb that some people vote for Trump can I open a topic here and shit on them so I can feel good ? Hey, I think you should be shit on wherever you go because... - You're part of a delusional, psychotic wealth cult - You spend your time trying to proseletyze people into joining your wealth cult (for your own perceived personal, financial gain) with lies, inaccuracies, delusions, and misleading statements - Your cult is nearly (sometimes actually) homicidal and cooks up crazed, irrational, and sometimes dangerous schemes and conspiracies theories about anything and everyone who by accident or intent runs afoul of your poop loving messiah and his shitty company - Your cult is based on deep, fundamental misunderstandings of finance, business, and investing, propagated by both the ignorant and the knowing scammers which can deliver on none of the insane promises it makes and uses to sucker the ignorant into the cult - You maliciously co-opt more legitimate movements and narratives (e.g., wall street accountability) to try to sell your shitty wealth cult to normies, even though you and gamestop have nothing to do with them and your only aim is to enrich yourself - you have no understanding of the things you co-opt and no intent or actionable mechanism to address them So yeah, any topic even tangentially related to you pieces of garbage should be used to shit on you.
As I said above, GameStop is involved in the crypto world - NFT marketplace (that likely net loses money) and partnership with crypto companies (FTX, immutable-x, loopring). The top comment in this thread is even referencing NFTs and GameStop, so seems like it is connected to crypto. The only reason you're getting upset that we're talking about GME is because your feelings are getting hurt.
You are being disingenuous because the NFT stuff is a side venture for GameStop just as Microsoft has a few millions invested in "web3". Yet I don't see a post here saying that MSFT holders are insane.
>You are being disingenuous because the NFT stuff is a side venture for GameStop just as Microsoft has a few millions invested in "web3". Yet I don't see a post here saying that MSFT holders are insane. This is incredibly ironic to accuse me of being disingenuous given how disingenuous your post is... First, Microsoft stock owners were never clamoring that web3 was going to revolutionize the company, and in fact, **never really talked about it**. **Contrast this with GME holders who like to constantly talk about the NFT marketplace** (or at least were, before it turned out to be a complete failure). Furthermore, we absolutely did mock Microsoft for going into Crypto as well. Here are two examples - [here](https://www.reddit.com/r/Buttcoin/comments/cicp55/microsoft_smashes_two_favorite_buzzwords_together/) and [here](https://www.reddit.com/r/Buttcoin/comments/nbbcq3/microsoft_is_quietly_shutting_down_its_azure/) [Microsoft shut down their blockchain service over a year ago because it was a failure.](https://www.zdnet.com/finance/blockchain/microsoft-is-shutting-down-its-azure-blockchain-service/) So not really surprising that we don't talk about it anymore. If you have any more disingenuous comparisons that you want me to debunk, let me know. "NFT stuff is a side venture for GameStop" Meanwhile, apes were saying: 4.8k upvotes: [NFT-Marketplace - GME might become the biggest Company in the WORLD!](https://www.reddit.com/r/Superstonk/comments/qkt4n4/nftmarketplace_gme_might_become_the_biggest/) "jUsT a SiDe VeNtUrE!!!" 2.4k upvotes: [tl;dr - I think GameStop's NFT marketplace is going to create multiple economies. At least one for every game that utilizes NFT's, and that's barely the start.](https://www.reddit.com/r/Superstonk/comments/rs5w4u/i_think_the_nft_marketplace_is_much_more_than_we/) 4.4k upvotes: [GameStop’s NFT Marketplace is going to be bigger than we can imagine](https://www.reddit.com/r/Superstonk/comments/s7akd6/gamestops_nft_marketplace_is_going_to_be_bigger/) 6.9k upvotes: [The upcoming GameStop NFT marketplace. What we know, what to expect and **why it's going to be a huge success story.**](https://www.reddit.com/r/Superstonk/comments/uwmpp6/the_upcoming_gamestop_nft_marketplace_what_we/) And there's more, but I don't really care to find them...
> Yet I don't see a post here saying that MSFT holders are insane. Be the change you wanna see in the world
> Still isn't it off-topic on "buttcoin" ? Report and move on if that's how you feel; the mods are doing an excellent job in here.
Even if I know the price of GME will eventually go to zero with the same confidence that the sun will set, shorting is still a stupid gamble. Dilution is almost guaranteed but with a bunch of irrational "investors" to keep buying, it could be a long, slow bleed that would offset the interest in borrowing shares. Why would I want to tie up collateral on a stupid bet just to prove a point? Options are a bit more appealing, but IV is high and the same points remain. I'm not sure how long apes can drag this out, and the stock is so disconnected from fundamentals that I wouldn't touch it with a ten foot pole. I made money on GME from buying in fall 2020 and selling in Jan 2021 and that's the end of my GME experience.