I read they’ve lost $5 billion on the short so far. Glorious.
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listened to Michael and Ben talking about this on animal spirits podcast today, great listen if your interested (US guys financial advisers talk about US politics, stocks, and movies rewatchables) recommendations)
They also said that on the web (assume wallstbets) they were saying to ring your broker and advise them they were not allowed to short the stock.
Wallst bets survey said they owned 6% of gamestock
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do wall street guys kill themselves when they lose all their money? is that still a thing?
Nah. They just ask for a government bailout.
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People are making and losing fortunes.
Imagine going all in on one of these bets. That’s what a company founder does and why they end up super wealthy. Or a really wealthy person who has too much play money just gets stupidly richer.
Musk is the richest man in the world and then some because he went all in on PayPal and the all in on Tesla.
Most people get more conservative when they get money. Not that bloke, money doesn’t drive him the way it drives others. If you value money highest in life you will do anything not to lose it and probably have a miserable time making it no matter what you do.
If you just value success and achievements in life, money maybe this lovely side effect, if not fantastic social dividend.(depending on where you put your focus)
I’d like to be more like Elon in that respect.
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well now i’m disappointed twice
When do you sell shares
e.g
Make 10% or 20% or more
Lose 10% or more
I usually hope to double profits, then sell half
& hold onto anything losing money
PS
2nd question
A2 Milk shares
I know I know should have sold a while back
but still above the price I got them for
Sell or hold, even thinking of buying more
I don’t sell unless no longer believe in the company.
If you sell half and free hold, trouble is your next idea needs to be better than the one you sell.
mine went backwards, making it even worse a decision lol.
A2 who knows. listened to a podcast about treasury wines the other day, and they are in a world of pain due to china. effectively putting tariffs on imported australian wines.
Some say A 2M is ok as NZ. But milk as a whole sector has been down of late. And depends how long you want to ride it out.
Also depends if your other idea is better than holding.
I’d bought shares in Rural Funds Finance (RFF:ASX) which manages rural assets. Was trading at about $2.50 and making quarterly distributions of around 2.6 cents a share, so an unfranked yield of 4-5%pa.
Then a Texas-based activist short-seller called Bonitas put out a report saying the whole shebang was a Ponzi scheme and ultimately worthless. RFF had their auditors (one of the big four, EY or KPMG) put out a report calling bullshit on Bonitas. Another short-seller based in Israel put out a similar statement. RFF sued Bonitas in Australian courts and won, winning significant damages that Bonitas will never pay.
It’s a pity that foreign research companies can do this for their own gain, because RFF fell about 25%. It has since recovered all its losses. I did manage to get a few more shares at a much lower price.
Bonitas should have been sued out of existence.
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yeh it’s a worry when companies you invest in are up the pointy end of the short list.
The GME stock is the thing movies are made of, talk of AMC, NOK, BB following suit;
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The GME on the ASX (a miner) got a disappointingly small bump this morning.
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It is absolutely crazy how much of a bubble is being built up right now in those stocks. I pity the last people left holding on when it bursts.
I’m really surprised the SEC didn’t stop it sooner, it is as pure an example of stock market manipulation as you can get.
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The crazy thing is that you can have a stock that is shorted over 100%. Personally I would ban shorting full stop as it’s just an artificial way people play with with other people’s money to make themselves huge bonuses.
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But only when it doesn’t favour the professional investors. They’ll have to put a stop to it somehow, but for now it’s good to see some comeuppance
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We don’t need to feel sorry for anyone in this particular short squeeze.
In one corner, we have some hedge funds bleeding money due to their short positions…they should know the risks of being short, and they should have structured off-ramps for these kinds of possibilities…if they haven’t, then they never deserved their indulgent fees.
In the other corner, we have small investors driving the price up…but they should sense that they’re just engaging in blatant price manipulation…if they’re one of the ones left holding the time bomb at the end of this momentum ponzi, then it’s their own fault too.
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isn’t the whole game stock market manipulation ?
isn’t that what the big guys do ?
seems like they got outsmarted by a bunch of ratbags, lost a whole heap of money, and have gone crying to the sec about being duped.
but by default they’ve given them a better chance to get a very big short sell option, cos if it’s gone up that much, as you say it being a bubble and all, it’s gonna go down just as much, just as quickly.
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there are usually time limits on the orders e.g 30 days after then they have to buy the stock back at that price unless they can sell the short sell to someone else.
Reading the reddit post it seems the calculation is around 6 days, I will just post it;
QUOTE
When do we sell? A quick guide for GME Army. (SECRET TO DIAMOND HAND 
)
Too much disinformation about when to sell. I’m tired of seeing people paper handing GME when it drops by 20%, or saying to sell Friday (BTW DO NOT ■■■■■■■ SELL FRIDAY OR I WILL COME OVER THERE AND DO STUFF TO YOU!) so here is the DEFINITIVE guide on how to play the ending.
First, we need to understand what is “Days to Cover” or “Short Ratio” .
Official definition:
- Days to cover, also called short ratio, measures the expected number of days to close out a company’s issued shares that have been shorted.
- Days to cover is calculated by taking the number of currently shorted shares and dividing that amount by the average daily trading volume for the company in question.
- A high ‘days to cover’ ratio can often signal a potential short squeeze.
Dumbed down version:
-
imagine you’re Melvin Capital and you have 1 million ■■■■■■ up your ■■■. How long will it take to get all those ■■■■■■ out of your ■■■? If the volume of ■■■■■ removing is 1 per day, then it’ll take 1 million days to remove 1 million ■■■■■■ up your ■■■. If it’s 50,000 ■■■■■■ a day, then it’s 20 days.
-
Same thing with covering short positions. How long will it take Melvin Capital and other shorters to cover their short positions? You take alllll the shorted shares, divided by the average volume of share movement per day, and you get something called “Days to Cover”
Now you know what day’s to cover means, you can check many websites to see what is the days to cover for GME.https://www.marketbeat.com/stocks/NYSE/GME/short-interest/ = 6 days
https://shortsqueeze.com//shortinterest/stock/term2.php?s=GME = 6.3 days
https://finance.yahoo.com/quote/GME/key-statistics?p=GME = 5.78 days
So you can see, even if Melvin Capital wants to cover their shorts, it’s gonna take them DAYS, and right now it’s gonna take them an entire trading week to cover their position.
So what does that mean for us?
Well, we’re just waiting for the day when Melvin Capital starts covering their position. When is that day? VERY ■■■■■■■ SOON. They’re are bleeding out of their ■■■ with the insane interest rate they’re paying for their position, and a lot of puts are expiring on Friday, plus a lot of ITM (in the money) calls expire Friday and can be exercised to get shares.
Friday might be the day where Melvin Capital have no choice BUT to start covering.
Now, IF this happens, then it’s not gonna take Melvin Capital 1 hour to cover all their shorts, but DAYS. Meaning if Melvin capital starts covering FRIDAY, it will take them at LEAST 5 DAYS to fully cover, which means ALL of next week, the price will keep increasing and increasing! So realistically I’d say Weds or Thurs next week might be peak sell time, IF the covering starts Friday. No need to panic sell. No need to worry about a top that lasts for minutes. It will LAST FOR DAYS!!!
Now, CNBC and all of the MM’s and corrupt media will fool you into thinking Melvin Capital has already covered their shorts or some other bullshit, but don’t believe it. It takes DAYS to do so!
The only numbers you should be looking at is the short ratio. If it’s getting smaller, then the squeeze has begun. If it’s still at ■■■■■■■ 138-140% like it is now, NOTHING EVEN HAPPENED YET.
We’re at ■■■■■■■ $250 after hours and the shorts still haven’t begun to cover yet! Imagine when they do? $1000 is actually a very low estimate, and is no longer a meme number. If we all play it right and hold while shorts cover, we can literally squeeze this to infinity as they try to cover.
TL:DR = ACTUALLY ■■■■■■■ READ IT AND HOLD MOTHER ■■■■■■■ HOOOOLLLDDDD. WE’RE ROBBING WALLSTREET TOGETHER!!!
Edit: Why trust me? Been a disciple of GME gang and u/deepfuckingvalue since near the beginning
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I hope all the above is true, and everyone sticks to it, just for the this line to go down in history, that wall street got done over by a bunch of people who came up with lines like this 
“THEY HATE US CAUSE THEY ■■■■.”
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