The Internet Vs Wall Street - The Gamestop way
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‘Dumb Money’ Is on GameStop, and It’s Beating Wall Street at Its Own Game
American video game and gaming merchandise retailer GameStop shares have soared 1,700 percent as millions of small investors, egged on by social media, employ a classic Wall Street tactic to put the squeeze — on Wall Street.
Over the past week, a collective of individual traders on Reddit’s r/WallStreetBets community sent GameStop stock to astronomical heights in an experiment to stick it to hedge funds, which had sold the stock short. At the beginning of this year, GameStop was trading at $17. By Wednesday afternoon, it was over $340, valuing the unprofitable company at more than $25 billion.
Can we do it here in India?
what are your thought
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Created by : Total_Fun
This is the simplified and thorough video on the full Story of Reddit vs Wall Street.
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unlike india where sebi sleeps like kumbhkaran, there will be inquiry on who leaked info about short side. the reddit group that went long is gamers group which posts memes and funny stuff says we did it for fun, as a joke and several others joined unaware of shorts by hedge funds. what is frightening is that now many robinhood dudes will jump in ship only to find a hole being dug up for them already. jisko maal banana tha wo bana chuke.
In layman language why were people buying their shares? How will they make money out of it and what is that reddit sub?
reddit is social media platform. some gamers in mid 30s and 40s hate gamestop for selling useless products, reselling old copy of games, giving low value to old copies of games which is quite big market in the usa. these games are quite active on reddit. they recently joined a group wallstreetbets and started sharing funny stuff and jokes. someone asked to teach gamestop a lesson for what they are suffering from long time. gamestop is one bad dude which lacks business ethics as per them. so to teach them lesson they started buying a $5 share. it become double overnight and fun began. people in that group started to buy and kept buying. no one knew that some big companies are short on gamestop. now if i am short on company of 10 rupees share, for every paisa added after 10 is my loss. shorting means selling something i don’t own. to stop price going high one has to absorb everything up for selling. and almost all shares floating in market were bought by these reddit dudes. other people jumped and demand increased and on other hand one who was short had to keep price under control by absoring supply. so short sellers were forced to buy whatever was available for sell. a $5 share became a $350 (400+ when market open today). this is the story.
@billubakra – Our friend @marketdimer has explained this scenario very well, and in the simplest of language. Hope it’s clear to you now.
+KG given for the efforts.
Cheers!
If articles are true (which says that hedge fund managers themself declared openly that they are short on this stock) then it is the most foolish thing.
Even experience trader don’t reveal large short positions unless they square off, then how foolish those so called hedge fund managers to declare it.
In India, we are even more behind in such cases. Large brokers & other market influence people have easy access to all data – Where retail is short etc.
Market figures will tell the number of shorts and long…
In case of GME it was short like 106% of the available shares…someone picked this opportunity and cornered all shorters…
Indian market is much controlled and managed properly..via circuit, ban on Option positions and what not…such conditions won’t happen in India.
exactly my thoughts. well said ✝️ Karma given to now deal cadet congrats 🥳
So they shorted the stock at 40$ , and yet did not close the position even when the price reached 350$. No stop losses, no algorithms kicked in. This doesn’t sound right for a hedge fund.
wsb is now targetting something which can ruin entire market because biggies have huge short in that stuff (will be known to everyone by tomorrow or day after).. something is gonna go to moon from $25…. but it may destroy stock markets world wide… hope sanity prevails..
Today is Friday brah. 🤡🤡🤡
“Images that precede unfortunate events” 
Tesla boss says the practice is ‘legal only for vestigial reasons’">https://news.yahoo.com/elon-musk-lashes-short-s...
In depth:
@bikidas2060; what do you think?
The key issue is not about the shorting, that happens everywhere, that’s not the issue…Whenever block deals go through, people tag along like fish on a whale and mimic them to sort of benefit (there is a bigger game involved which sadly people don’t realize).. The issue in Gamespot et al was that the shorted number was greater than the float… SEC was sleeping and there was no check on this, the reddit gp was just buying the stocks which jacked the price…… All Hedge funds and IBs started borrowing more capital to sort of average their shorts (because you need to pay the difference you lose on long shorts) but the market was already over sold and the groups just bought up all the stocks and decided and liquidated them creating huge losses in the interim……… I simple loved it.. We should do something like this 
it was actually a joke. or teasing them reddit way. most gamers hate gamestop and they just wanted to have some fun. but no one knew that someone is short. and rest is history. in past dhiru bhai ambani did something similar to short sellers. and it is already happening in india. pump and dump with help of promoters and operators. recent wild upmove in many useless stocks can be attributed to new gen telegram and whatsapp traders.