[2/4 @ $88 per share] GME - Gamestop stock - anyone following this absolute MEME-HILARITY (now with Elon tweet)

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uclaLabrat

Diamond Member
Aug 2, 2007
5,576
2,907
136
No worries. Good on that lunch retrospective.


You keep having adult conversations in here and the forum will collapse on itself like a supermassive black hole. The only thing that keeps this place running is the expansion of the white-hot supernova rage of incels and noobs.

You're throwing off the equilibrium!
 
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nakedfrog

No Lifer
Apr 3, 2001
58,494
12,784
136
You keep having adult conversations in here and the forum will collapse on itself like a supermassive black hole. The only thing that keeps this place running is the expansion of the white-hot supernova rage of incels and noobs.

You're throwing off the equilibrium!
Shut your festering gob, you tit!
 
Reactions: uclaLabrat

Red Squirrel

No Lifer
May 24, 2003
67,856
12,339
126
www.anyf.ca
Red has a point, though. We're slowly migrating to a world where we don't OWN anything, and we subscribe various rental services for everything. Nobody buys movies on DVD anymore, they stream them. Nobody buys music anymore, they stream that as well. Hell, some of us don't even go grocery shopping anymore... we have meal box subscription services like Blue Apron and delivery services Peapod bring us our food on a schedule. Businesses no longer build their own data centers, they just rent virtual servers and storage from Azure and AWS. The list goes on and on...

It makes you wonder... in the future, will "owning" a car seem like a weird thing only a rich person would do, because most people summon a self-driving taxi from your smartwatch? Hell... you probably won't own the smartwatch either, because you'll be on an Apple tech subscription service that sends you a new one every two years

Yeah I really hate where this stuff is going. Even the stuff we own like our phones, we don't have full control over it, because they require an account tied to the cloud to even work and you are at the mercy of whatever apps you use being on the play/apple store. So many products now require you to make an account right off the bat to even use it as well, even cameras now! Ex: gopro. Drones etc too. I absolutely hate the direction stuff is going. The WEF (promoters of great reset) even said "you will own nothing and be happy". It's almost a threat and saying we have no choice to accept it. Most commercial software is subscription only now as well. All of this is so corporations can make more money as subscription stuff is basically free money coming in. It also makes us fully dependent on them as they can cut us off any time. Not to mention that we are constantly being spied on but our own stuff. IMO if I can't control my stuff 100% then I don't really fully own it.
 

Red Squirrel

No Lifer
May 24, 2003
67,856
12,339
126
www.anyf.ca

destrekor

Lifer
Nov 18, 2005
28,799
359
126
Robinhood restricting trades was hilarious.

"You mean there's a catch to free stock trading?!!"

I'm late to this thread, but something to consider: even TD Ameritrade and Schwab (soon to be one in the same) appeared to place restrictions on trading the various meme tickers, but not as extreme or as widespread it seems. Both are also commission-free for the vast majority of trades, and have Robinhood to thank for making that a successful strategy. Heard other brokerages on par with TDA/Schwab did not make any trade restrictions, but I can't verify.
 

VirtualLarry

No Lifer
Aug 25, 2001
56,442
10,113
126
Grow it. e-Sports can be huge in this country. Make it so that when people think e-Sport, they think of GameStop. Sort of like ESPN. Become like retailer/media/all things gaming company. Setup your own Steam or Epic games type online stores/distribution. I don't know. I'm not really a gamer anymore. But I see my nephew and little kids addicted to online gaming. You have to tap that market somehow whether through Twitch like service or Youtube streaming. Make your site and stores the central hub of all things gaming. Create eSports league and launch Twitch like streaming network.
Maybe Asus would be willing to buy some of their stores, and turn them into 'Republic of Gamers' stores, and become PC-hardware / gaming-PC centric stores to show off gaming PCs and PC Gaming. Like a Microsoft / Dell / Apple store. They would have to beat BestBuy and Microcenter, but they might have an upper hand as far as distribution reach due to number of stores compared to Microcenter, and a singular focus on PC Gaming versus BestBuy.
 

manly

Lifer
Jan 25, 2000
11,310
2,340
136
This why they need to pivot hardcore to PC Gaming, and partner / sell to Asus.
They already tried that and failed years ago when there was only Steam. There are a few competent PC download stores now.
They haven't tried pornographic games yet; that would be profitable in Japan.
 

Svnla

Lifer
Nov 10, 2003
17,999
1,396
126
The darn stock is still hanging around @ $60. I thought by now it would be less than $10 or so.
 

KillerCharlie

Diamond Member
Aug 21, 2005
3,691
68
91
I'm late to this thread, but something to consider: even TD Ameritrade and Schwab (soon to be one in the same) appeared to place restrictions on trading the various meme tickers, but not as extreme or as widespread it seems. Both are also commission-free for the vast majority of trades, and have Robinhood to thank for making that a successful strategy. Heard other brokerages on par with TDA/Schwab did not make any trade restrictions, but I can't verify.

My friend works at Vanguard and they had no restrictions, but their service is not free.
 

nakedfrog

No Lifer
Apr 3, 2001
58,494
12,784
136
My friend works at Vanguard and they had no restrictions, but their service is not free.
They didn't let you make trades for 7 days after creating your account (to give funds time to clear), citing "insufficient funds" even though it showed a balance.
They didn't charge me anything for the AMC I bought, though.
 

destrekor

Lifer
Nov 18, 2005
28,799
359
126
They didn't let you make trades for 7 days after creating your account (to give funds time to clear), citing "insufficient funds" even though it showed a balance.
They didn't charge me anything for the AMC I bought, though.

I can't speak for Vanguard, but I can see the insufficient funds issue being a concern. In actuality, that should be basically universal across all [American] brokerages, though the time frame may be up to each bank. Generally though a lot of brokerages will let you trade on unsettled funds a couple times before yanking the rug out from under, though the punishment I think is federally mandated: after so many times, they yank the ability to trade on unsettled funds for 90 days. This would mean funds transferred (or funds resulting from an asset sale) would need a couple days to fully and legally process as official and complete; otherwise, without that restriction you'd be able to sell an asset and immediately (same day) be able to use those funds to purchase another asset. Though I can't recall if a new account's first funding is always restricted or if that's left to the banks to decide; I feel like it's the former but can't swear by it. Seven days also seems excessive but probably within a bank's rights I guess.
 

ponyo

Lifer
Feb 14, 2002
19,689
2,811
126
Thomas Peterffy of Interactive Brokers pretty much confirming what I and many suspected. The stock market and the financial system was going to collapse if they did not stop the buying pressure of GME stock and options.

https://www.cnbc.com/2021/02/17/interactive-brokers-chairman-thomas-peterffy-on-gamestop-frenzy.html

Thomas Peterffy is a huge douche but I believe he's telling the truth. The short hedge funds and the market makers were about to all go bankrupt and wouldn't have been able to honor the dollars made by GME longs. Fucking video game retailer company stock was merely minutes away from blowing up our entire stock market system. lol.
 
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Reactions: Pohemi

Red Squirrel

No Lifer
May 24, 2003
67,856
12,339
126
www.anyf.ca
The sad part is the guy behind all this is probably going to end up in jail over this. It's a piss off that it's legal for the hedge funds to manipulate the market but the minute individuals do it it's suddenly illegal.
 
Reactions: Pohemi

Zeze

Lifer
Mar 4, 2011
11,187
1,071
126
The sad part is the guy behind all this is probably going to end up in jail over this. It's a piss off that it's legal for the hedge funds to manipulate the market but the minute individuals do it it's suddenly illegal.
I'd be surprised if DFV actually goes to jail. He's got lots of people in congress backing him up as well.

I think DFV is a fool. I would've quietly cashed out with $20-40m. The idiot brought attention to himself and now has to go to a god damn congressional hearing in DC.
 

gorcorps

aka Brandon
Jul 18, 2004
30,740
452
126
Thomas Peterffy of Interactive Brokers pretty much confirming what I and many suspected. The stock market and the financial system was going to collapse if they did not stop the buying pressure of GME stock and options.

https://www.cnbc.com/2021/02/17/interactive-brokers-chairman-thomas-peterffy-on-gamestop-frenzy.html

Thomas Peterffy is a huge douche but I believe he's telling the truth. The short hedge funds and the market makers were about to all go bankrupt and wouldn't have been able to honor the dollars made by GME longs. Fucking video game retailer company stock was merely minutes away from blowing up our entire stock market system. lol.
If true, then the end result better be regulation on the massive short positions that were allowed to be taken in GME that caught attention in the first place
 
Reactions: Pohemi

dullard

Elite Member
May 21, 2001
25,185
3,609
126
The sad part is the guy behind all this is probably going to end up in jail over this. It's a piss off that it's legal for the hedge funds to manipulate the market but the minute individuals do it it's suddenly illegal.
Pump and dump is illegal in both cases.
 

ponyo

Lifer
Feb 14, 2002
19,689
2,811
126
The sad part is the guy behind all this is probably going to end up in jail over this. It's a piss off that it's legal for the hedge funds to manipulate the market but the minute individuals do it it's suddenly illegal.
DFV is not going to jail. He didn't do anything wrong. He didn't pump and dump. What's sad is that all the bad actors didn't go bankrupt like they should've. None of the short hedge fund crooks and brokers are going to jail. WSB had it right and they should've become millionaires while the billionaires went broke. That's the shitty part. Being right and then having cheaters cheat to protect their money and not go broke. And all the rich fuckers looking the other way and while blaming the WSB party who had it right. It's fucked up, and all the apologists royally piss me off.
 

dullard

Elite Member
May 21, 2001
25,185
3,609
126
He didn't dump, though
There is still plenty of time for the dump part to occur. Plus how many individuals did sell? Thousands? Millions?

Just changing the pump-and-dump story to a David-vs-Goliath story doesn't make it any more legal to buy stock, pump up its price online, then sell it at elevated prices.
 

ponyo

Lifer
Feb 14, 2002
19,689
2,811
126
There is still plenty of time for the dump part to occur. Plus how many individuals did sell? Thousands? Millions?

Just changing the pump-and-dump story to a David-vs-Goliath story doesn't make it any more legal to buy stock, pump up its price online, then sell it at elevated prices.
like this asshole
 

Red Squirrel

No Lifer
May 24, 2003
67,856
12,339
126
www.anyf.ca
DFV is not going to jail. He didn't do anything wrong. He didn't pump and dump. What's sad is that all the bad actors didn't go bankrupt like they should've. None of the short hedge fund crooks and brokers are going to jail. WSB had it right and they should've become millionaires while the billionaires went broke. That's the shitty part. Being right and then having cheaters cheat to protect their money and not go broke. And all the rich fuckers looking the other way and while blaming the WSB party who had it right. It's fucked up, and all the apologists royally piss me off.

Not to mention that the hedge funds got bailouts! Since when do bad investments get bailed out? Only when it affects the rich I guess. Just shows how corrupt everything is. What WSB is not wrong but they will try to make it wrong. Hopefully DFV has good lawyers and manages to win this either way. The fact that he did not actually cash out might be at his advantage.
 

dullard

Elite Member
May 21, 2001
25,185
3,609
126
like this
Two wrongs don't make a right. Illegally scamming others in WSBs (many of whom have now lost quite a lot of money) is not the proper way to go up against the "evil" shorters.

And please try to be civil in your responses here.
 
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