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Stock Thread (26 Viewers)

Sideshow Bob said:
Short sellers also reloaded bets over the last seven days, where shorted shares jumped by more than 900,000, worth $69 million, the data showed. GameStop's short interest stands steadily at 139%, unchanged from a week ago.

"Much like the Revolutionary War, the first line of troops goes down in a rain of musket fire, but is replaced by the troops next in line," Ihor Dusaniwsky, S3's managing director of predictive analytics, said in an email. "We are seeing a short-squeeze on older shorts who have incurred massive mark-to-market losses on their positions but are seeing new shorts coming in."

"This is keeping overall shares shorted in GME relatively flat even though there is a significant short squeeze occurring in a sizable amount of existing short sellers," Dusaniwsky added.
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Custer would be proud.

-QG

 
Held my nose and bought a mere 200 AMC at $8 after hours last night. At $11 this morning. If it hits $16, I'm going free-rolling. It's the wild west out there, everyone needs to be careful. The house of cards feeling very crashy right now.

 
Melvin Capital closed out its short position in GameStop on Tuesday afternoon after taking a huge loss, manager of the fund Gabe Plotkin told CNBC’s Andrew Ross Sorkin.

The brick-and-mortar videogame retailer, a popular short target by hedge funds, was targeted by an army of retail investors marshaled against short sellers in online chat rooms. Rookie investors encouraged each other to push the stock higher in the Reddit forum “wallstreetbets” with more than two million subscribers. 

CNBC could not confirm the amount of losses the firm took on the short position. Citadel and Point72 have infused close to $3 billion into Melvin Capital to shore up the fund’s finances.

Short sellers have amassed a mark-to-market loss of more than $5 billion year to date in the stock, including a loss of $917 million on Monday and $1.6 billion on Friday, according to data from S3 Partners.

Plotkin told Sorkin that the speculation that the firm would file for bankruptcy is false.

GameStop shares traded off its highs in premarket trading, and last traded up 83%.
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So they say...

 
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pecorino said:
Held my nose and bought a mere 200 AMC at $8 after hours last night. At $11 this morning. If it hits $16, I'm going free-rolling. It's the wild west out there, everyone needs to be careful. The house of cards feeling very crashy right now.
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Closed half at $16 in pre-market. I don't know what is more insane, this silly AMC trade after / before hours or my experience with GME yesterday. To wit:

GME was trading at $110 per share midday when I bought five puts for $2 each for March. I watched it do nothing but go up, and when it was trading at almost $150 a share, those puts were now worth $2.20 each (I guess due to volatility) even though the stock price was 30% higher. So I sold all five of them, made $100, and closed the position. Craziest hundred bucks I ever made.

 
Grabbed a little BB and a tub of popcorn in AH... likely late to the game 

 
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Of all the ones mentioned the only one that doesn't look like it already had a wet dream is NOK. In for 500 at 4.84. I think my first flip phone was a Nokia. Go Nokia.

 
Hmmmm....companies that are executing and beating expectations are down.  Companies that are headed out of business are doubling and tripling.  Interesting day.

 
Looks like market makers aren't happy with the games being played. I see a lot of red pre-market in my watchlists.

 
I see Michael Burry calling the GME shenanigans "Unnatural, insane, dangerous" and that there should be "legal and regulatory repercussions." I agree.

 
pecorino said:
I see Michael Burry calling the GME shenanigans "Unnatural, insane, dangerous" and that there should be "legal and regulatory repercussions." I agree.
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I would like to hear his argument for what the legal repercussions should be.  Some internet poster stating I'm not going to sell my shares until this hits $1000 is illegal now?  Pretty sure we should lock up that CYDY thread in that event.

Just a word of caution to people trying to ride the wave, when these things fall (and they will), they tend to fall quickly.  I'm not saying I'm not along for the ride in some, but I tend to tread carefully and a lot more cautiously then some people in this thread :)

g'luck to us

 
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Swaymoney said:
You'd have to think even better is to come, no?  You just feeling happy that you didn't lose money, so I get that. 
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Damn happy I decided to see what happens the next day or two.  This time yesterday I was happy with taking a 15% profit and heading home.  Currently up 440%.  

 
I watched an interesting video in regard to $GME and the options convexity that was always squeezing/pushing prices upwards and it was very interest in that the max strike price on the calls was at $60.  Keep in mind that this stock may well open mid $200's.  This fact negated the ability to push out risk in options and forced a lot of stock buying on an already heavily shorted stock.  Reminded me a LOT of what happened with LTCM and the derivatives markets that they were heavily invested in, totally unregulated. I'm really not sure what the OCC can do about fixing this issue as this is way above my pay grade, but they probably do need to look into something like that as when options get overheated that's a huge leveraging tool.  Of course, the fact that the short float was 140% which I believe is illegal should be looked into first and foremost

 
The Man With No Name said:
Got an email predicting the next :

KNDI
AYRO
APRN
KOSS
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Thank you. I just placed crazy-high call orders on KNDI and AYRO. No reason not to throw $300 at each, hope to get some way out of the money calls that do the GME thing. KOSS is already booming plus it doesn't trade on the options market. The APRN options are too close to the money to be worth buying. Guess I should have asked, where did that email come from? 

 
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