the random musings not worthy of new thread thread

[phattymatty]

There's a fun subreddit called wallstreetbets that I've been active on for a few years. Some good stock advice, mostly shtein advice and dick jokes, usually pretty funny place. They basically are about to bankrupt a 13b hedge fund that was shorting GameStop and it's pretty amazing. It's actually going to be a very important moment for the future of trading, just the fact that it's possible.

[Munson]

Watching this unfold is crazy. I was too late to get in unfortunately. I decided to throw some down on blackberry since that seems to be everyone's next pick. Hoping it takes off and I can make a few thousand *shrug*

[Diomedes]

What I don't get about the story is what happens after they defeat the short sellers?  WSB investors, if that's what you can call them, have hugely inflated the stock value of a company that--correct me if I"m wrong here--is pretty untenable anymore, so once the big bad guy short seller is dead, then the stock will collapse as people try to get out before stock value returns to something like fair market value...what am I missing?

[Munson]

Nothing as far as I can tell. People who don't get out before the crash will be screwed more or less

[Diomedes]

Is my assumption that the company's fundamental status is poor accurate?

[phattymatty]

yes GameStop is not a viable long term company because of streaming and digital downloads.  and lol it's over 300 at open.

I have been in on a bunch of these troll brigades in the past, last one was hertz over the summer, but I'm not in this one.

the people who will likely get screwed are the boomers who saw this on cable news last night and put their retirements accounts into it.

I just bought a house in Maryland with 100% robinhood money.

[phattymatty]

speaking of internet money, has anyone seen this nba top shot?

they are like digital basketball cards, or little videos.  only been around a few months but recently has been on fire.

they release packs like normal cards, some cards have like 25,000 and some have like ten or less, making them them rare.  then there's a marketplace to sell them.  some are already going for 100K plus, which seems insane to me, but I will be keeping an eye out to see if it's a lasting hobby or just a quick internet fad.

[Munson]

Apparently the trade apps all shut down and stopped allowing buys lol.

Just put up a big bright neon sign that says "it's only rigged for us, not you peons!"

[phattymatty]

meh they always halt trading for a bit when something wild happens, if they keep it halted then yeah that's whack.

[phattymatty]

Apparently the trade apps all shut down and stopped allowing buys lol.

Just put up a big bright neon sign that says "it's only rigged for us, not you peons!"

you are right, TD Ameritrade stopped allowing people to trade it.  seriously farged up.

[General_Failure]

Plebs aren't allowed to make money off of stock trading. That's illegal.

There's a couple other stocks that are getting meme'd up. Tesla and AMC, most notably.

[phattymatty]

[ice grillin you]

rich white guy day trader twitter has been one of the most sickening things ive seen in a while these last 24 hrs

these already wealthy motherfargers are flipping out over the rich having an advantage in something only because it affects them directly but are the last people on earth giving a farg when a rich guy gets bail on a murder charge while a poor black kid rots in rikers for shoplifting

[Munson]

I'm up like $500 on BB now lol. I'd be up more but RobinHood has a wait on your deposits so by the time I actually get a larger sum of money in there id have probably missed the boat.

[General_Failure]

My sister says one of her husband's friends cashed out at 1.4 mil with a ten grand investment off this Gamestop nonsense. I have my doubts, but I don't have enough information to actually call BS on that.