Wow it’s lights out on GameStop and AMC lmaooo

Bunch of rich people pulled some strings and straight up removed the stocks listings from the market place and/or took away the ability to buy them.

Lmaoooo guess when poor people are making too much money it’s illegal. Ain’t that just the American way? Lmaooo

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SW-User

Are you serious? A bunch of aholes thought it was funny to manipulate the market and drive up the value of shares of mediocre companies. Someone decided to do a "pump and dump" scheme. It's going to take them a while to investigate and sort it out. Everyone loses when things like this occur.

NoahB · 26-30, M

@SW-User lol I’m dead serious. And this wasn’t a pump and dump by aholes. it wasn’t the aholes who shorted the “mediocre stocks” far past the amount that even existed, it was the billionaire Hedgefunds. The hedgefund made a stupid bet, lost, then pulled strings and handcuffed everyone’s ability to trade when everyone but them was making money

SW-User

@NoahB That's not what I read. I guess we'll find out after the investigation. You might be right. Maybe some of the aholes running the funds went onto social sites and started pumping the stock so they could dump it. Anything is possible. Just pisses me off every time I see a market manipulation. It's why you're better off investing in index funds rather than individual stocks.

NoahB · 26-30, M

@SW-User the investigation won’t find any wrong doing because there was none. It was all discussed in the open on public forums, which is more than you can say about the inner workings of a hedgefund. It’s simple, the hedgefund shorted the stock to impossible levels right in front of everyone. They normally get away with it so they got caught with their pants down when ppl saw what was happening a used actual financial tactics to make money off it.

SW-User

@NoahB Are you following that group on Reddit? That's not what I've been reading about the entire thing. Here's one story that seems to cover it better than most.

https://www.usatoday.com/story/tech/news/2021/01/27/gamestop-amc-shares-jump-traders-reddit-band-together/4275566001/

NoahB · 26-30, M

@SW-User no i don't follow them, im not really an investor guy. but i'll check out your article tho

QuixoticSoul · 41-45, M

@NoahB Functionally, this is absolutely a pump - and of course there will be a dump. Some people clearly already started, which is why it went down to $120 earlier.

And GME is not even a mediocre company, they're absolutely in a terrible position and their fundamentals are terrible. The stock was clearly overshorted, creating this opportunity for a circus based on technicals alone. But there was a good reason everyone was shorting GME. They're in the shit.

NoahB · 26-30, M

@QuixoticSoul well now melvins in the shit for the exact same reason. "terrible fundamentals" lol

QuixoticSoul · 41-45, M

@NoahB Melvin will be fine. They closed out their GME positions, and had to sell equity to a couple of other firms, but they're still around - ironically, their fundamentals are much better than GameStop's.

NoahB · 26-30, M

@QuixoticSoul yeah lol. helps when you get a bailout and they handcuff retail traders for playing the same games they do.

QuixoticSoul · 41-45, M

@NoahB They got a bailout because Capitol and Point72 are quite certain they'll get a great return on their new investment.

NoahB · 26-30, M

@QuixoticSoul lol yeah i don't buy that for a second. (no pun intended lol)

QuixoticSoul · 41-45, M

@NoahB You should, this is a pretty unsentimental crowd. They simply took advantage of Melvin being in a tough place to buy in on the cheap.