Gamestop

[Jon Miller]

I think that it might end up that investment funds win the most. But for sure some hedge funds were losers.

JM

[Thoth]

I'm happy to see hedge funds getting thumped. ****ing parasites.

Investment funds are for sure the big winners here. I strongly suspect that a significant part of the increase pre last Tuesday is due to them quietly helping out the original wsb crowd run the price up into the squeeze and that the role of the folks who hopped on the bandwagon post Tuesday has been to keep the price up while the big players exit their positions. I doubt there was active collusion, just some wily and opportunistic players acting in their own interests.

[Kidlicious]

Elon Musk tweeted "Gamestonks" when it was at 150. A lot of people got in after that.

[Thoth]

He also posted something about Dodgecoin before it's rise as well I think.

[Kidlicious]

Yes, and it got a reaction. Were those institutional investors?

[Thoth]

No, that was reddit sheep buying a worthless cryptocurrency.

[Kidlicious]

No, that was reddit sheep buying a worthless cryptocurrency.

Anyone can use reddit. But are supporting the idea that only people on reddit bought the stonk.

[Kidlicious]

https://youtu.be/C6XEtQrgQUA

[giblets]

Are people still going to sue Robin Hood for not selling them $300 shares?

[Jon Miller]

One could argue, and I am not sure if this is true or not, that Robinhood stopping retail from buying shifted some of the gain from the hedge fund short squeeze from retail to the large investment institutions. It is also likely that if retail was more involved Thursday/Friday that more of unique members of retail would have bought at higher price points than they should.

There is a big difference between someone who hasn't bought any of GME and is buying at 340 versus someone who has over 1000 shares purchased below 30 and who is trying to keep the stock price up so that more options are ITM (I didn't follow this so closely, but my understanding is if the stock price had been a little bit higher Thursday afternoon/Friday that there would have been a significant number of options In The Money that Friday, which may have had a multiplier effect).

JM

[Kidlicious]

Are people still going to sue Robin Hood for not selling them $300 shares?

Yes, because the stock theoretically would have gone higher. The shorts were able to buy cheaper because longs weren't able to buy.

[Dinner]

The bottom line is the investors want a company that let's them trade what they want when they want. If a company doesn't do that then investors have every reason to find a different company to execute their trades for them. After all, they are paying a fee for the company to execute the trades as they direct not to have them say what the company thinks is best for them or the market as a whole. Everyone should refuse to keep accounts with Robin Hood simply based upon those points.

[Thoth]

Are people still going to sue Robin Hood for not selling them $300 shares?

They will try. I doubt they will get anywhere.

[Jon Miller]

I think Cuban is right, they will be successful and get like 4$ from the class-action.

JM

[Thoth]

I'm curious to see what an investigation into RH shows. There is an innocent sounding explanation for their actions (being short on liquidity and needing to raise capital to cover their margins) but there is also plenty of room for shenanigans on their part as well. I suspect the results of the lawsuit will hinge on that. If no nefarious intent can be proved then the lawsuits won't have much chance of getting even a pittance.

I'm also a bit booggled that GME is holding steady near $100 today. Even with the hiring news, it's still trading at 3-4 times what its worth and still risky even at that price. Gamestop is pinning it's hopes on being able to pivot into digital sales and that marketplace has established players.

[Kidlicious]

It's a popular stonk