Gamestop

[Anonymous]

* dam

I am that angry lol!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Schwab restricted margin trades, which is reasonable, but allowed buy orders. Robin Hood is partly owned by Citadel who also have a large investment in one of the hedge funds getting killed by this. Did anyone other than RH completely bar buy orders?

ApexClearing blocked buy orders of GME, AMC, and others. Apex provides clearing for retail platforms on SoFi, Goldman Sachs, etc.

Tons of platforms were locked out buying, but only allowing selling,

"Because of the volatility"? What were they thinking? Do they think they'll get away with this?

They will. We already hear all the apologists. Even Elizabeth Warren is on their side.

It was a sound short term trade and they destroyed it to allow hedge funds to make money. They could have waited until after options expiry and then regulated but they chose to put an elephant on the scales.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I like the stonks. Who bought AMC at 22 today. Lol

I’m in at 12.50 but even if it goes to 20 again AH I am not selling until I see what happens tomorrow. It’ll be a wild ride!

I bought 1 share of NOK, GME, and amc to support my wsb brethren but this won’t end well

[Anonymous]

OK I read like 3 articles and I *think* I finally understand what short selling is. Someone thinks a stock is going to go down, so they borrow shares at a certain price (say, $10) and pay a fee for doing so. Then when the price goes down to say $5, they buy a bunch of shares on the open market at the lower price to pay back the ones they borrowed. Is that right? So they sell the borrowed ones for 10 and buy replacements at 5, and make $5 per share (minus the borrowing fee).

if so, what is "naked" shorting? Something about not having a timeline on the borrowing? I need someone to ELI5 all of this haha.

[Anonymous]

Anonymous wrote:OK I read like 3 articles and I *think* I finally understand what short selling is. Someone thinks a stock is going to go down, so they borrow shares at a certain price (say, $10) and pay a fee for doing so. Then when the price goes down to say $5, they buy a bunch of shares on the open market at the lower price to pay back the ones they borrowed. Is that right? So they sell the borrowed ones for 10 and buy replacements at 5, and make $5 per share (minus the borrowing fee).

if so, what is "naked" shorting? Something about not having a timeline on the borrowing? I need someone to ELI5 all of this haha.

Naked means not owning the underlying shares.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I like the stonks. Who bought AMC at 22 today. Lol

I’m in at 12.50 but even if it goes to 20 again AH I am not selling until I see what happens tomorrow. It’ll be a wild ride!

I bought 1 share of NOK, GME, and amc to support my wsb brethren but this won’t end well

End well for whom? For you? I have no idea. For Robinhood? I agree, they're not going to end well.

For Gamestop? This is better for them than the undervaluing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I like the stonks. Who bought AMC at 22 today. Lol

I’m in at 12.50 but even if it goes to 20 again AH I am not selling until I see what happens tomorrow. It’ll be a wild ride!

I bought 1 share of NOK, GME, and amc to support my wsb brethren but this won’t end well

End well for whom? For you? I have no idea. For Robinhood? I agree, they're not going to end well.

For Gamestop? This is better for them than the undervaluing.

I'm guessing PP is talking about the majority of the retail investors that are left holding the bag. I don't know one way or another, I'm holding the line and willing to take it in the chin to F the short sellers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OK I read like 3 articles and I *think* I finally understand what short selling is. Someone thinks a stock is going to go down, so they borrow shares at a certain price (say, $10) and pay a fee for doing so. Then when the price goes down to say $5, they buy a bunch of shares on the open market at the lower price to pay back the ones they borrowed. Is that right? So they sell the borrowed ones for 10 and buy replacements at 5, and make $5 per share (minus the borrowing fee).

if so, what is "naked" shorting? Something about not having a timeline on the borrowing? I need someone to ELI5 all of this haha.

Naked means not owning the underlying shares.

Adding--you are not supposed to be able to short a stock you don't own--a borrowed stock counts as owning for this purpose.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OK I read like 3 articles and I *think* I finally understand what short selling is. Someone thinks a stock is going to go down, so they borrow shares at a certain price (say, $10) and pay a fee for doing so. Then when the price goes down to say $5, they buy a bunch of shares on the open market at the lower price to pay back the ones they borrowed. Is that right? So they sell the borrowed ones for 10 and buy replacements at 5, and make $5 per share (minus the borrowing fee).

if so, what is "naked" shorting? Something about not having a timeline on the borrowing? I need someone to ELI5 all of this haha.

Naked means not owning the underlying shares.

PP here - so that means they're on the hook for the shares they already short sold, and have to get them wherever they can - like buying on the open market at a high price? And in this case I guess there aren't that many shares out there in the first place.

Now I need to figure out what calls and options are. If anyone knows of a good 101-level resource (other than Wikipedia) I'd love it!

[Anonymous]

Anonymous wrote:

Anonymous wrote:OK I read like 3 articles and I *think* I finally understand what short selling is. Someone thinks a stock is going to go down, so they borrow shares at a certain price (say, $10) and pay a fee for doing so. Then when the price goes down to say $5, they buy a bunch of shares on the open market at the lower price to pay back the ones they borrowed. Is that right? So they sell the borrowed ones for 10 and buy replacements at 5, and make $5 per share (minus the borrowing fee).

if so, what is "naked" shorting? Something about not having a timeline on the borrowing? I need someone to ELI5 all of this haha.

Naked means not owning the underlying shares.

In other words, selling something they don't own. The borrowing is just to make it legalish and they have no rights to those shares.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OK I read like 3 articles and I *think* I finally understand what short selling is. Someone thinks a stock is going to go down, so they borrow shares at a certain price (say, $10) and pay a fee for doing so. Then when the price goes down to say $5, they buy a bunch of shares on the open market at the lower price to pay back the ones they borrowed. Is that right? So they sell the borrowed ones for 10 and buy replacements at 5, and make $5 per share (minus the borrowing fee).

if so, what is "naked" shorting? Something about not having a timeline on the borrowing? I need someone to ELI5 all of this haha.

Naked means not owning the underlying shares.

PP here - so that means they're on the hook for the shares they already short sold, and have to get them wherever they can - like buying on the open market at a high price? And in this case I guess there aren't that many shares out there in the first place.

Now I need to figure out what calls and options are. If anyone knows of a good 101-level resource (other than Wikipedia) I'd love it!

Yes. That's the dynamic behind this. That dynamic is further exacerbated by a friday deadline on many of these trades. WSB may act like fools but their strategy is not foolish.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I like the stonks. Who bought AMC at 22 today. Lol

I’m in at 12.50 but even if it goes to 20 again AH I am not selling until I see what happens tomorrow. It’ll be a wild ride!

I bought 1 share of NOK, GME, and amc to support my wsb brethren but this won’t end well

End well for whom? For you? I have no idea. For Robinhood? I agree, they're not going to end well.

For Gamestop? This is better for them than the undervaluing.

I'm guessing PP is talking about the majority of the retail investors that are left holding the bag. I don't know one way or another, I'm holding the line and willing to take it in the chin to F the short sellers.

Same. Holding.

[Anonymous]

More on Apex Clearing. They provide clearing services for dozens of retail trading platforms, one of which is M1 Finance. All of them were locked out of selling GME, AMC, and KOSS. However, Apex would allow sales.

It's so utterly corrupt.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I like the stonks. Who bought AMC at 22 today. Lol

I’m in at 12.50 but even if it goes to 20 again AH I am not selling until I see what happens tomorrow. It’ll be a wild ride!

I bought 1 share of NOK, GME, and amc to support my wsb brethren but this won’t end well

It won’t be a prob for me even if it zeros out which it won’t. I added a bunch of MSFT yesterday and it’s up 10% which is enough to offset my whole AMC bet. I’m not selling until over $100. I can afford to lose my whole investment but the hedge funds cannot lol.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OK I read like 3 articles and I *think* I finally understand what short selling is. Someone thinks a stock is going to go down, so they borrow shares at a certain price (say, $10) and pay a fee for doing so. Then when the price goes down to say $5, they buy a bunch of shares on the open market at the lower price to pay back the ones they borrowed. Is that right? So they sell the borrowed ones for 10 and buy replacements at 5, and make $5 per share (minus the borrowing fee).

if so, what is "naked" shorting? Something about not having a timeline on the borrowing? I need someone to ELI5 all of this haha.

Naked means not owning the underlying shares.

In other words, selling something they don't own. The borrowing is just to make it legalish and they have no rights to those shares.

And the borrowed shares are coming from pools of shares being held by brokerage houses (not sure if that's the correct term) like Fidelity or whatnot?

So hypothetically any shares of stocks we own could be lent out to hedge funds or other short sellers at any time, without us knowing? If so that's kind of crazy.

I get how that works with cash in our savings account, banks loan it out for interest (but can only do so with a certain percentage at a time, by law). But it seems like more shares of GME were short sold, than actually exist.