Cryptocurrency

[shark]

There's certainly a question of legality to what the Redditors are doing. Does the event not simply boil down to an internet-inspired pump and dump?

There is an element of coordination alright but that's been going on since the first days of trading. It's no different to tipping a stock and the person you tip passing it on to someone else and then someone else etc. It manipulates the price for sure (pretty much everyone agrees that GameStop is failing and the shorts held by all the funds were the right thing to do from their perspective) but as Ball Hopper says, institutional investors manipulate prices all the time. The difference this time is the scale and the quick, easy access retail investors now have to trade various financial instruments at no or zero commission.

As always though, those last in and those who don't jump out in time will be the ones who get burnt. Thankfully as they're largely (from what I've read) buying call options rather than the stock outright, they'll only stand to lose the price of the options, do hopefully the number of people who lose their life savings roll be relatively few.

There's a difference between giving someone a tip and coordinating a bull run on stock but I see where you're coming from. I've no involvement in finance but I don't understand the desire/delight at seeing short-sellers getting burnt. At the end of the day they are simply betting a stock is going to fall. I don't see how this is any more immoral than buying shares or options and betting they are going to rise (unless you're an idiot who believes stocks should simply only ever go up).

The people involved in this are just playing the stock market game. The Redditors and hedge funds are simply trying to manipulate the situation to make money. The Redditors are not heroes and the hedge funds aren't villains. Not unless you consider altruism to be the greatest virtue in which case they're both dicks.

The hedge funds are taking a gamble that the stock value will drop, but it is their actions that will ensure the drop in stock value.
In itself, even a significant drop in share value does not destroy a company but it can seriously impact it's ability to get out of their hole. That's immoral  and is illegal but just not scrutinized. In any case they are still the scum, Deutche Bank type scum. Afaiu, despite their 2 year losses, Gamestop is still operating at some viable level and could conceivably adapt their business.

In this case Hedge funds get totally carried away on a wave of avarice and seek to short more than 100% of Gamestop's shares, they borrow the shares at $10 and force a drop in value to $4. Then the plan was return the shares and pocket the difference in value. Smart plain folk sussed out their Achilles heel and intervene to 'purchase' the shares at the low value  and they are the ones accused of  "market manipulation". Afaiu  after the smart folk took their options at $4, the share price went up radically, the Hedge funds in the end will be forced  to cover the difference between their borrowing price $10  and  new much higher value of the shares.

This is the biggest problem. Shorting more than 100% means that there is no way they can cover their position if the share price rises. And less than 30% of outstanding GME shares are actually liquid, so that exacerbates it further. Short selling has its place - but this type of shorting takes risk to a level that needs to be exposed once in a while.

[trileacman]

How is the short positions on stocks common knowledge? How did the Redditors know that GameStop was shorted to such a huge extent? Surely all short positions aren't publicly available or are they?

[Mike Tyson]

How is the short positions on stocks common knowledge? How did the Redditors know that GameStop was shorted to such a huge extent? Surely all short positions aren't publicly available or are they?

They are.

[Mikhail Prokhorov]

How is the short positions on stocks common knowledge? How did the Redditors know that GameStop was shorted to such a huge extent? Surely all short positions aren't publicly available or are they?

They are.

it's all gamers on the forum, they just decided to stick it to the man because gamestop was a business they all used, good to see, shows what can be done if people are organized

[screenexile]

How is the short positions on stocks common knowledge? How did the Redditors know that GameStop was shorted to such a huge extent? Surely all short positions aren't publicly available or are they?

They are.

I think they are. I think that when a company takes a short position they release a paper which trashes that company and tells everyone why they've taken a short position in the hope that everyone will agree and dump their stock.

It's a f**king crook's game!

[Mike Tyson]

How is the short positions on stocks common knowledge? How did the Redditors know that GameStop was shorted to such a huge extent? Surely all short positions aren't publicly available or are they?

They are.

I think they are. I think that when a company takes a short position they release a paper trashing the which trashes that company and tells everyone why they've taken a short position in the hope that everyone will agree and dump their stock.

It's a f**king crook's game!

Can find out current shorts on companies here for example: https://finviz.com/screener.ashx?v=111&f=sh_short_o30

That's exactly what happens Screen - so it's hilarious to see these billionaires complain about being f*cked over. They've ruined many a viable business in pursuit of their own profits.

[trileacman]

How is the short positions on stocks common knowledge? How did the Redditors know that GameStop was shorted to such a huge extent? Surely all short positions aren't publicly available or are they?

They are.

I think they are. I think that when a company takes a short position they release a paper trashing the which trashes that company and tells everyone why they've taken a short position in the hope that everyone will agree and dump their stock.

It's a f**king crook's game!

Can find out current shorts on companies here for example: https://finviz.com/screener.ashx?v=111&f=sh_short_o30

That's exactly what happens Screen - so it's hilarious to see these billionaires complain about being f*cked over. They've ruined many a viable business in pursuit of their own profits.

Like scion capital?

[Mike Tyson]

How is the short positions on stocks common knowledge? How did the Redditors know that GameStop was shorted to such a huge extent? Surely all short positions aren't publicly available or are they?

They are.

I think they are. I think that when a company takes a short position they release a paper trashing the which trashes that company and tells everyone why they've taken a short position in the hope that everyone will agree and dump their stock.

It's a f**king crook's game!

Can find out current shorts on companies here for example: https://finviz.com/screener.ashx?v=111&f=sh_short_o30

That's exactly what happens Screen - so it's hilarious to see these billionaires complain about being f*cked over. They've ruined many a viable business in pursuit of their own profits.

Like scion capital?

No last I checked Burry does his work on fundamentals as opposed to the likes of Melvin, anything remotely related to Steve Cohen, LTCM, Madoff etc.

[bigfrank]

Huge slide going on this last week,buy in the dip as they say??

So that was a yes or a no? Lol lot of locals lads I know involved in Bitcoin,vechain and chain link,I'm not really too sure what is what with it all but just see it in these text messages 

[thejuice]

I've been investing in it for over a year now and done really well out of it.

Have BTC, XRP, DOT, INJ, QNT, KSM, VET, ALGO and SNX.

With thanks to Elon Musk over the last few days pushing BTC over $40K has really taken the lid off it.

[trailer]

Unreal. I had 3k that I threw into an account back in Dec and it's worth over 6k now.

f**k I wish I had bought more.

[imtommygunn]

Last week I wished I had bought less but now I wish I had bought more lol.

[trailer]

Last week I wished I had bought less but now I wish I had bought more lol.

you know something if I had bought more I probably would've panicked and cashed out so meh whatever. Holding on now till it goes over 100k which it will.

[screenexile]

Has anyone bought BTC through Revolut or what's the best way to buy??

[imtommygunn]

I got it through revolut. I didn't look at the charges to see if there was anything better out there mind you.