Oso planning to go pro
Is this demonstrating how easily the market can be manipulated in today's social media sphere?
This is a unique situation. A heavily shorted stock, largely held short by a small group of funds. Activist investor that brought attention to it in late 2020. Then the collective power of WSB. It’s a perfect storm. There are far more instances of people buying stock or options in advance of “news” that gets rumbled about on social media that ends up being nothing. Most big funds have algos that scrape social media sentiment and front run things.
I thought about buying at $90 this morning. In after hours it’s gotten up to $247. Never seen anything like this, it’s both explainable and totally illogical at the same time.
There are a number of other stocks undergoing similar, but not as ridiculous, manipulation right now.
The fact that it is a shīt-ass company like gamestop makes this all so much better.
This sh!t does not work. And they are not scrapping WSB, so it is doubly a waste of time.Wall Street is now a bunch of old men that don't get it and are shaking their fists at change. This is why Melvin Captial is effectively gone, Citron is done, and Citadel/Point72 has lost billions in the last two days.Sit back and watch, this is going to get epic.
I must admit that I am unfortunately somewhat ignorant on a lot of investing issues. A fair amount of the recent posts on the GME issue and others might as well have been written in a foreign language, as far as I'm concerned. I've learned some over the past couple years, and am learning more...but it's just not something that I really know much about.All that said, this GME thing is fascinating. I just checked and it's now at $350. In trying to understand more about what is going on, I'm learning bits and pieces. The people over on that reddit page are insane -- although that's not unique to this particular situation. The funniest thing I read over there, in response to "what stock is next" was, "[Declining to identify a 'next' stock]...at the moment the consensus is that we can make a boatload of money off of dumbass hedge funds, but think of it less like a pack of draft horses following a path and more like a room of angry, crapting monkeys who happen, for the time being, to be throwing their crap in the same direction."
BINGO. This is is largely a community of reckless degenerates. Not a coordinated skilled group of renegade amateur traders. It’s still pretty incredible to watch in real time
This is so captivating, I'm not getting involved, but I can't stop watching.
That's where I am. There is a part of me that would like to purchase a share or two -- just because it is so captivating and it's possible to be a part of it -- but ultimately I'm content to just sit on the sidelines and watch it play out.I am curious, however, how one finds out which stocks "have been heavily shorted over the last few months."
That's where I am. There is a part of me that would like to purchase a share or two -- just because it is so captivating and it's possible to be a part of it -- but ultimately I'm content to just sit on the sidelines and watch it play out.
I enjoy watching it, but just can’t comprehend it enough to try to get lucky here.
So this is the way to look at it, right? Once regular folks like us get involved who profess to care about making money, the whole thing runs out of steam. What is fueling this is that the WSB folks are economically irrational actors.