How Reddit posters made millions as Wall Street lost billions on GameStop’s wild stock ride!
Play the game in real time and force Wall Street to scream! Now that is getting back at the great merchants using their own game!
Instead of heading to Wall Street with signs and shouting OCCUPY. OCCUPY! And in lieu of having a sit-in on the streets with no porta-potties – Reddit guys have entered the ‘LIVE GAMES’ on Wall Street sending them a huge message! It sounds like they have really hit an Achilles heel and it may just be the beginning!
The media doesn’t talk a lot about this and when they do they use their own terms, their own codes and slang for the event. This makes it difficult for the average bloat to make sense of what is taking place, but they know it is big when terms like “taking down two giants”, and reading almost overnight losses for AMC Entertainment Holdings Inc., a theater chain posting quarterly losses exceeding $900 million.
And other so quips like, “AMC Entertainment Holdings Inc., the theater chain posted a quarterly loss this month exceeding $900 million. Hearing that the hedge funds sold and made $100 million, but now they had to spend $1.4798 BILLION getting those same shares back!
It appears that AMC has become the next battleground in the fight between smaller, retail investors, and Wall Street. itself! All done by Wallstreetbets- A trading/investing subreddit.
Wallstreetbets is a fast-growing Reddit board with more than 2.4 million followers, including at least 100,000 new followers in the past 24 hours. Like at other internet discussion boards, users typically go by an online handle rather than their real names. Much of the discussion is about stocks, and it comes with plenty of attitude and tough talk.
The Wallstreetbets board calls its followers “degenerates.” Members are told to keep the discussion to stocks and away from politics, and to only brag about actual trades, not ones they wished they’d made. “Nobody gives a s**t about your preschool’s trading competition,” the board’s rules state.
Well these Wallstreetbets took GameStop options from $4 a share to $360 and closing out yesterday at $347.51! In mid-2019, the poster began promoting the idea that he was buying GameStop options that would pay off if the stock reached $8 by the end of January 2021. At the time, the stock was trading for just over $4 a share, and the options appeared to cost around $50,000. He regularly posts what appears to be an account statement, which as of Tuesday night showed that those same options were now worth just over $22 million.
So what does this mean? For now it is GAME ON! The average guy, who works hard, pays taxes, and never has his voice heard has ENTERED THE WALLSTREET HEDGE FUND GAME!
This ride will be interesting, entertaining, and possibly explosive. This is right out of a movie script and like the rest of the show we call reality, we are watching it live!
Video above: One of the two major investors that surrendered, Citron Research, acknowledged Wednesday in a YouTube video that it unwound the majority of its bet that GameStop stock would fall. Andrew Left, who runs Citron, said it took “a loss, 100%” to do so, but that does not change his view that GameStop is a loser.
A pair of professional investment firms that placed big bets that money-losing video game retailer GameStop’s stock will crash have largely abandoned their positions. The victors: an army of smaller investors who have been rallying on Reddit and elsewhere online to support GameStop’s stock and beat back the professionals.
The next question is – How to Prepare for a Stock Market Crash Will the Stock Market Crash in 2021? (moneymorning.com)
It’s always wise to plan ahead, maybe it’s time to invest in something more tangible than air? Check out the website link above for some options so you won’t have to worry:
Excerpt from moneymorning.com: So when will the stock market crash? We can’t give you an exact day or week – no one can. If you’ve read anything about past market crashes and those who manipulate them, how they make and break industry merchants, you will know this is what they were doing to Game Stop and now the question is, how far will this go and what will be the outcome if all the ants look at the grasshoppers and get in the game?
But with so many signs flashing red, now’s the time to prepare. A protracted bear market would slam unprepared investors with heavy losses. Many have vivid memories of the 50% losses sustained in the depths of the 2008 financial crisis.
For those who want to have the Game Stop Stock Market Event broken down in simpler terms to understand more on what is happening and how it happened, link to this thread and find out more.
Aaron D. @MrBrownEyes2020
Ok, since a lot of people seem confused, I’ll explain what’s going on with GME. Brace yourselves. This is gonna be a long thread. This is a once in a lifetime historical event. It’s insane. At least 1 hedgefund has gone bankrupt, thanks to a group of average joes on Reddit. By the end of the week, there will be a line of bankruptcies. So let’s start at the beginning:
Watch all things, everything is stirring about in most interesting of ways.