created by jstohler on 26/01/2021 at 23:48 UTC
21085 upvotes, 66 top-level comments (showing 25)
Daily thread pt. 3: https://www.reddit.com/r/wallstreetbets/comments/l5ne0q/the%5C_gme%5C_thread%5C_part%5C_3%5C_for%5C_january%5C_26%5C_2020/[1][2]
Elon Musk dives in: https://www.reddit.com/r/wallstreetbets/comments/l5nqcu/im%5C_gonna%5C_cum/[3][4]
3: https://www.reddit.com/r/wallstreetbets/comments/l5nqcu/im%5C_gonna%5C_cum/
4: https://www.reddit.com/r/wallstreetbets/comments/l5nqcu/im_gonna_cum/
Telling hedge funds to suck it: https://www.reddit.com/r/wallstreetbets/comments/l5krk7/this%5C_is%5C_personal%5C_for%5C_all%5C_of%5C_us/[5][6]
6: https://www.reddit.com/r/wallstreetbets/comments/l5krk7/this_is_personal_for_all_of_us/
Fox Business picks up the story: https://www.reddit.com/r/wallstreetbets/comments/l5mir9/fox%5C_business/[7][8]
7: https://www.reddit.com/r/wallstreetbets/comments/l5mir9/fox%5C_business/
8: https://www.reddit.com/r/wallstreetbets/comments/l5mir9/fox_business/
Comment by [deleted] at 27/01/2021 at 03:18 UTC
835 upvotes, 4 direct replies
If anyone is curious, there IS a precedent for this happening the market (minus the reddit parts) with Volkswagen in 2008 where it was the most valuable stock in the world for like a day. It has happened before, and so long as firms will massively short stocks it will probably happen again.
Comment by Sertoma at 27/01/2021 at 00:22 UTC
6595 upvotes, 4 direct replies
r/WallStreetBets drama is my favorite drama that I completely and overwhelmingly do not understand.
Comment by [deleted] at 27/01/2021 at 03:58 UTC
709 upvotes, 3 direct replies
Never thought a stock war would occur between a internet community and shady hedge fund companies over a crappy gaming distributor. How the fuck does that happen lol?
Comment by Wows_Nightly_News at 27/01/2021 at 00:33 UTC
1739 upvotes, 6 direct replies
"Investor underworld" Fox makes them seem so badass.
Comment by Mystic8ball at 27/01/2021 at 00:36 UTC
656 upvotes, 4 direct replies
I never thought wallstreet bets would top the *guhh[1]* moment, but here we are.
1: https://youtu.be/d80ahvRSV8E
Comment by murphysclaw1 at 27/01/2021 at 02:16 UTC
1009 upvotes, 5 direct replies
An open letter to CNBC
Before you spend another day hosting your shill hedge fund buddies to come on the air and demonize r/wallstreetbets I hope you read this.
Your contempt for the retail investor (your audience) is palpable and if you don’t get it together, you’ll lose an entire new generation of investors.
I keep thinking about these funds that are short GME like your boys at Melvin Capital / your coverage of this subreddit and I’m getting madder and madder.
These funds can manipulate the market via your network and if they screw up big because they don’t even know the basics of portfolio risk 101 and using position sizing, they just get a bailout from their billionaire friends at Citadel. Then they have the nerve to turn us into public enemy #1 just because we believe in an underdog company getting a second chance.
We don’t have billionaires to bail us out when we mess up our portfolio risk and a position goes against us. We can’t go on TV and make attempts to manipulate millions to take our side of the trade. If we mess up as bad as they did, we’re wiped out, have to start from scratch and are back to giving handjobs behind the dumpster at Wendy’s.
Seriously. Motherfuck these people. I sincerely hope they suffer. We want to see the loss porn.
we're not going to get copypasta like this rolling off the presses everyday. Get it while it's hot.
Comment by juanTressel at 27/01/2021 at 01:14 UTC*
2214 upvotes, 5 direct replies
There's already talk that authorities and hedge funds want Reddit to ban /r/WSB because they consider what they are doing "market manipulation".
If hedge funds get a subreddit of unemployed 30 year-old manchildren gambling with their stimulus checks indicted for market manipulation the world may collapse from the irony.
Comment by JoshSidekick at 27/01/2021 at 04:20 UTC
100 upvotes, 3 direct replies
If someone could relate all this to the movie Trading Places for me, that would be great. Also, then could you explain the ending to Trading Places.
Comment by Sterling-4rcher at 27/01/2021 at 07:39 UTC
77 upvotes, 4 direct replies
isn't there eventually going to be a chain reaction where people want to turn their stocks into money?
isn't everyone who jumps on the train late at continuous higher risk to lose out big?
Comment by error521 at 27/01/2021 at 01:16 UTC
524 upvotes, 2 direct replies
WSB drama is the best because it actually matters in the real world
Comment by jkbpttrsn at 27/01/2021 at 00:29 UTC*
728 upvotes, 4 direct replies
If there's one thing I hate way more than Gamestop as a company is hedge funds. If using Gamestop's dying corpse to put a dent in them and make some money is possible, why not? Won't stop Gamestop from failing in the long run anyways.
Comment by Binch101 at 27/01/2021 at 04:10 UTC
438 upvotes, 4 direct replies
I'm not the biggest fan of thr WSB culture and dick waggery HOWEVER... Random ppl fucking up wall street in such a way that hedge funds lose a shit ton of money? Hell fucking yea!!! Rich ppl losing money they don't deserve is the funniest shit ever
Comment by Nillix at 27/01/2021 at 00:14 UTC
220 upvotes, 2 direct replies
I guess if a meme can go viral, why can’t a stock position on a garbage company?
Comment by Torque-A at 27/01/2021 at 03:53 UTC
356 upvotes, 6 direct replies
I don’t know much about the stock market, but the fact that so much money can be gained and lost by merely speculating on what is popular, with the proceeds not really benefitting the economy that much, seems a bit sketchy.
Comment by eric987235 at 27/01/2021 at 00:50 UTC
192 upvotes, 6 direct replies
Sadly I understand options well enough to stay the fuck away from them.
Comment by [deleted] at 27/01/2021 at 05:39 UTC
36 upvotes, 2 direct replies
[deleted]
Comment by TrumpdUP at 27/01/2021 at 10:57 UTC
33 upvotes, 1 direct replies
This should be exactly why people shouldn’t equate the stock market to the actual economy.
Comment by crazydr13 at 27/01/2021 at 00:45 UTC
426 upvotes, 3 direct replies
WSB is going *wild* right now. It’s a good day in the universe when the little guys beat the hedge funds. This could easily bankrupt at least one very large, previously successful fund
Comment by Fluffy-Apocalypse at 27/01/2021 at 02:32 UTC
46 upvotes, 2 direct replies
I have no idea how to do this options trading stuff in the UK, probably for the better lol
Comment by [deleted] at 27/01/2021 at 00:28 UTC
119 upvotes, 5 direct replies
AMC is gonna be the next one and I am here for it.
Comment by [deleted] at 27/01/2021 at 19:53 UTC
18 upvotes, 1 direct replies
[deleted]
Comment by venicerocco at 27/01/2021 at 07:14 UTC
68 upvotes, 2 direct replies
This is actually becoming a pretty major story. The subreddit may actually put a multi *billion* dollar investment firm out of business. That’s a first. And potentially a game changing situation
Comment by ClockworkDreamz at 27/01/2021 at 00:01 UTC
51 upvotes, 3 direct replies
What is this even.
Comment by dugmartsch at 27/01/2021 at 12:43 UTC
18 upvotes, 1 direct replies
I decided to look at the options prices yesterday (I'm something of a money losing options trader myself) and holy fucking shit they are insane.
Normally it's like a a dollar to two to buy an option with a short dated expiration (or much less).
These things were at like $60.
Comment by paulcosca at 27/01/2021 at 03:06 UTC
183 upvotes, 4 direct replies
This whole thing reinforces the point that the stock market is complete bullshit, and based on nothing. Cool for folks to make money on it, but it's sure as hell not any kind of indicator of how the country is doing.