Yeah if you want to take the risk. I'm in full FOMO mode lol. Got some money invested but nowhere near as much as I like. With people making thousands with a week it's crazy. Why did I not buy GameStop back in March? I never lost faith in the company. Had I taken that $1200 stimulus that would've been close to 6 figures now. Down Payment on house, paid for school, and a good savings.

I'll be back to complaining about being a wage slave and crony capitalism next week LOL.

Yes, we have that program, but if I'm not mistaken your payments are higher. I could be wrong.

think again *******. You just lost millions

Why did I not buy GameStop back in March?I never lost faith in the company.

Yeah. You just pay mortgage insurance until you have 20% equity. Mine is an extra 80ish bucks a month.

U wot M8? The reason that GameStop is going parabolic is because it was doing so poorly. So poorly that hedge funds bet on GME going bankrupt. But these greedy bastards ****ed themselves by shorting @ 150% of outstanding shares. People caught on to this and started buying up GME shares knowing that when the contracts expire, the hedge funds will beFORCEDto buy these shares back atwhateverprice sellers set.

this. The guy who discovered it is still holding with a 44 million dollar position. And he started with only 50k. Yet you think you know better than him. He cashed out 25% but he's hanging on for the big push.

Congrats on making some coin though.

I'm so tired of this victim mentality and uneducated narrative going around. Everyone acts like this these days, it's just trendy, and because all the other young people are saying it they think they're correct and they're victims of corrupt countries.

Incomes were rising just before Covid faster than inflation which is great, peoples houses are actually bigger and it's roughly the same cost (average) to buy a home as it was a few decades back, houses are just bigger now. TVs are bigger, people have much better computers, much better phones, and they actually worklesshours than our parents/grandparents, not a ton less hours but like 1.5 less hours per week. We also have more rights and more fairness.


I hope all of you try to combat this ridiculous narrative when we hear it and speak up against it, because it's not productive. It makes people angry when they shouldn't be, leading to more division and all that in our culture.

There ARE issues to solve and things that still need addressing but when you exaggerate issues, nobody is going to help solve the issues that actually do exist.

lol @ this cucked post. No one gives a rat's ass about bigger houses, bigger tvs, or any of that bullchit

people want fulfillment, ambition, satisfaction, and purpose in life

all that other trash is just chit they give to you to keep you occupied while they suck the people's teet dry. Most people in this country are jaded and depressed

I'm so tired of this victim mentality and uneducated narrative going around. Everyone acts like this these days, it's just trendy, and because all the other young people are saying it they think they're correct and they're victims of corrupt countries.

Incomes were rising just before Covid faster than inflation which is great, peoples houses are actually bigger and it's roughly the same cost (average) to buy a home as it was a few decades back, houses are just bigger now. TVs are bigger, people have much better computers, much better phones, and they actually worklesshours than our parents/grandparents, not a ton less hours but like 1.5 less hours per week. We also have more rights and more fairness.


I hope all of you try to combat this ridiculous narrative when we hear it and speak up against it, because it's not productive. It makes people angry when they shouldn't be, leading to more division and all that in our culture.

There ARE issues to solve and things that still need addressing but when you exaggerate issues, nobody is going to help solve the issues that actually do exist.

If you're out of the loop - this is the hilarious story of a subreddit - wall street bets - taking down a multi-billion dollar hedge fund... get your popcorn ready Popcorn

the hero of our story: a user named Deep****ingValue bought $50k of call options in Gamestop $GME that has turned into a $13M+ win in ~3 months.

he's a part of the subreddit r/WallStreetBets, a group of degenerate gamblers that I love.

So here's the situation.

Gamestop (GME) = a dying biz. circling the drain. Who goes to a store to buy games? It's basically a pokemon card dealership at this point. Plus with covid, malls are dead.

So some Hedge Funds are shorting the stock, betting it would go down.

One fund in particular, Melvin Capital Managment - a multi-billion dollar hedge fund...had been accruing a big short position in gamestop. Usually you don't have to disclose your shorts - but these were 'listed put options' so some clever redditors discovered the position

Melvin had a $55M+ short against GME.

except in this case - redditors saw the overloaded short position and started buying the stock, as a "short squeeze" against melvin. Now the "borrowed" shares were due, but redditors refused to sell, demanding higher and higher prices.

to be clear. This has nothing to do with gamestop as a business. They are just a piece of rope being used in a tug of war between internet nerds and wall st suits.

the rally cry on r/wallstreet bets:

"we can remain retarded for longer than they can stay solvent!"

Melvin lost $2B+ in like 2 weeks, and just had to get bailed out by 2 other funds just to cover it's losses from the shorts.

It's not quite George Soros "Breaking the Bank of England" - but it's close.

The yolo traders of reddit just broke a multi-billion dollar hedge fund


"Why can't Melvin capital just uninstall robinhood and reinstall it to restore their save game to get their money back????" - u/dopexile


short squeezes - and day trading - are stressful and super volatile.

But... I'm here for the petty fight between internet trolls and wall st.

And in that fight, i'm going with the neckbeard cat guy rather than goldman sachs suit. $50k on $GME and $BB at market open baby Smiling face with open mouth and cold sweatSmiling face with open mouth and cold sweatSmiling face with open mouth and cold sweat


congratulations to the rando new millionaires from this






Source:

Cliffs: Multi Billion Dollar Hedge Fund tries to short -meaning borrow and sell the stock, to buy back at a lower value and make profit on the difference- a stock.

Redditors buy the stock, and refuse to sell it to the Hedge Fund driving the price through the roof.

Multi Billion Dollar Hedge fund lost billions buying back stock.




Beta's thoughts:For better or worse, this is an example people power when it comes to the finance economy. I wonder how many coordinated efforts like this are going to bring Multi-Billion hedge funds to their knees, now that the cat is out of the bag?

Can't you buy with a lower % in the US? We can put down 5% as a first-time home buyer in Canada. With interest rates at current levels, you'd honestly be silly to not put down the lowest % and use the spare cash for almost anything else


Bam you have a down payment within a year. I graduated in 2014 and built a new $480k house by 2015

Fuk off *******

[is://cdn.digg.com/images/c75ae4f7cf514ef89868b609d40f3d27_ebc53ed963b049b5a 14f42eb423586a8_1_post.jpegg]

Things of value are only getting harder to obtain while things that waste time and take value are getting cheaper.

Look at we are witnessing now. Multiple billion dollar hedge funds got caught selling more shares than there is in existence with money that doesn’t exist and the establishment is closing ranks to keep the farce going.

Loving this chit. Even though a lot of retail brahs are going to get fuked along with the suits when this reverses.

Shorts are still above 130% though, so them boys lying about covering their puts. Next couple of days are going to be wild.

Who is going to be buying the shares come Friday though? So everyone is holding until Friday because that's when the borrowed shares have to be returned, and the price is going to skyrocket even further.

But how is everyone going to cash in at the same time? No one will actually be buying the worthless shares on D-Day at the massively inflated prices, right?

The hedge funds that shorted

So Friday will be a mad rush to sell? And the prices plummet back down?

Edit: or assume the majority holds and they can’t cover their shares? Then what? They go bankrupt? Or do they have to pay penalties and continue to try to buy back shares for their short?

A lot of people just want enough to not have to work 40 hours a week till their 60. Lol at bigger TVs and better computers

Who is going to be buying the shares come Friday though? So everyone is holding until Friday because that's when the borrowed shares have to be returned, and the price is going to skyrocket even further.

But how is everyone going to cash in at the same time? No one will actually be buying the worthless shares on D-Day at the massively inflated prices, right?

the theory is the short positions will be the one buying that day. They will buy at whatever the asking price is on friday, because if they dont the consequences are even worse

im in for a couple grand of AMC, NOK. if I lose it all it wont be a big deal. R/R and entertainment value for this is a no brainer

Who is going to be buying the shares come Friday though? So everyone is holding until Friday because that's when the borrowed shares have to be returned, and the price is going to skyrocket even further.

But how is everyone going to cash in at the same time? No one will actually be buying the worthless shares on D-Day at the massively inflated prices, right?