Looks like OTGLY aka CD Project Red is getting pumped too, it was one of the stocks being shorted into oblivion by one of the hedge funds. Granted people weren’t happy with Cyberpunk 2077 for various reasons, but it has patched a lot of issues and even released a starting mod package for gamers. Plus these are the guys that made Witcher 3, so I personally don’t want them to be shutdown.
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Not sure, but I believe the estimated losses are around $3 billion dollars.
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In crowd investment, the crowd can artificially manipulate the valuation of an asset. This is news to no one. Pump and dump has been going on since the stock market was invented. Our market is neither efficient nor really free. There is only an illusion of efficiency. It’s more efficient than a lot of other markets, but that’s still not saying much.
Social media and the general literacy of finance in the population has enabled more coordination. Economy is really determined by what people want. It’s why some onlyfans people make like 100k+ a month. If the people collectively decide they want to buy gamestop stock to prove a point, its valuation really does go up. Politics has effects on economy. Always has.
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lol. It’s already below $200. Those who bought in the pre-market down -50%+!
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Because buying is frozen right now forcing it back down
Corruption wins again.
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Whoa. The Robinhooders can’t buy it. They shut down their Discourse channel and took the Reddit private. Now trading halted.
The Empire struck back on multiple fronts.
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I want to see what happens when things remain broken. For months. Or even years. I want to see the big companies fail and fall because they went bankrupt.
Even if the escape gamestop they now can’t do this again to any stock because the people will follow them and do it again. A bailout isn’t enough. They would have to do a bailout every other month for these companies as the process keeps repeating.
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reddit is back up.
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“GOOGLE. CALL ANTHONY.”
Why isn’t this thing working, I keep…
“GOOGLE, CALL ANTHONY PLEASE!”
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And I hope they do.
Selling things you dont have should be illegal.
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Except they are also trying to punish hedge funds that are short selling the stocks. They picked that stock and others because of the volume of short options. They wanted the people who placed the options to lose.
It is very interesting.
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There is nothing inherently wrong with shorting. It’s actually serving a valuable role in the economy. These derivatives actually help reduce risk.
The irony is that the hedge funds were probably shorting all the way to $300-$400 and they will make multiples times more than they would have shorting in the teens.
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Btw, everyone but the elite are pretty much in agreement at how hilarious and deserving this all is.
Watch something happen to get that divide going again. 
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Except that some people lose. Imagine you bought borrowed stock before it tanked, which is what the guy who sold it to you was expecting. You are some poor sap who got snookered.
All derivative trades are zero sum games. That sap knew he was betting when he took a position. A derivative is a bet that exists mainly to hedge against risk. You are taking a position on the market when you buy a call or put option. It is a zero sum situation, and there is always a winner and a loser.
If short positions weren’t allowed, prices would take longer to return to equilibrium, and the market wouldn’t be as efficient.
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Wasn’t Uber’s entire business model built around convincing investors to write them checks?
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Basically a large group of average joes did something that wall street constantly does so now suddenly its “bad” because it was done by normal people and not big business who are used to pulling the strings all the time.
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Bouncing around $250 right now…
Day’s Range 112.25 - 482.85
No surprise. Capitalism is about he who owns the gold makes the rules.
See who owns the stock exchanges and the commissioners trump put on on the SEC.
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