- 05 Feb 2021 19:05
#15155078
I just realized i had 2 cents in my robinhood account, went ahead and bought gamestop with it, hah.
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Rancid wrote:Analysts and those in academia are starting to say that this whole thing wasn't Reddit Versus Wall street, it was really Wall street versus Wall street.
Rancid wrote:New data is coming in that suggest that the whole thing was basically co-opted by institutional investors. Basically, the short squeeze was started by retail investors, but then institutional investors jumped in on the squeeze to see if they can profit too. One firm reported a $700 million gain. It was really the institutional investors getting in on the action that pushed the price up so high, not the reddit folks.
Analysts and those in academia are starting to say that this whole thing wasn't Reddit Versus Wall street, it was really Wall street versus Wall street.
Rancid wrote:New data is coming in that suggest that the whole thing was basically co-opted by institutional investors. Basically, the short squeeze was started by retail investors, but then institutional investors jumped in on the squeeze to see if they can profit too. One firm reported a $700 million gain. It was really the institutional investors getting in on the action that pushed the price up so high, not the reddit folks.
Analysts and those in academia are starting to say that this whole thing wasn't Reddit Versus Wall street, it was really Wall street versus Wall street.
Rancid wrote:New data is coming in that suggest that the whole thing was basically co-opted by institutional investors. Basically, the short squeeze was started by retail investors, but then institutional investors jumped in on the squeeze to see if they can profit too. One firm reported a $700 million gain. It was really the institutional investors getting in on the action that pushed the price up so high, not the reddit folks.
Analysts and those in academia are starting to say that this whole thing wasn't Reddit Versus Wall street, it was really Wall street versus Wall street.
colliric wrote:Actually no. The Redditors intended that to happen. That was their whole strategy, to start a snowball effect. It worked.
Rancid wrote:No, That was wasn't indicated as the plan.
Ganeshas Rat wrote:Of course it was indicated as the plan. They were deliberately buying options so the large traders would start to buy stocks to cover their contracts that lead to the price rising. It was the plan from the beginning.
Rancid wrote:Look, those guys are pretty fucking cool for doing this, but to retroactively claim this is exactly what they wanted to happen is pure bullshit. Otherwise they would have behaved differently (call for selling rather than holding). It's still a success, but they were not these master puppeteers you people are painting them as. You guys are acting like this is some mr robot bullshit.
This would imply that they thought they were carrying most of the trade volume, and thus could hold the price high for an extended period of time.
Rancid wrote:I'm not going to bother.
colliric wrote:Actually no. The Redditors intended that to happen. That was their whole strategy, to start a snowball effect. It worked.
Rancid wrote:Gamestop is at $41.5. Still over valued, but much much closer to reality now.
Potemkin wrote:Reality is for people who can't handle the stock market, @Rancid.
colliric wrote:They actually believe in saving their precious Video Game company.
Rugoz wrote:
Gamers have been shitting on Gamestop for as long as I can remember. Since when did it become their "previous video game company"?
Either way, the reddit trolls are going to lose money, whine about the system being rigged against them and vote Trump.
Rancid wrote:Most of them have already lost.
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