310 upvotes, 8 direct replies (showing 8)
View submission: Mod of WSB removed after deleting Gamestop related spam
Timeline for those not up to speed with the WSB/GME drama:
1.) WSB has like ~1 million members
2.) One dude nails a prediction and makes a ton
3.) WSB follows with his trade and exit at the peak for the most part
4.) 9 million new idiots calling themselves apes show up and buy the top then start like 4 conspiracy subs convinced that a company everyone hated the month before the squeeze is the ticket to millions and the end of their shitty retail/service jobs
5.) Apes lose 75% of their money over a year while creating more and more elaborate conspiracy theories
6.) They return to announce the MOASS (mother of all short squeezes where GME goes to $50,000,000+ a share) is finally here thanks to one +20% AH session after dumping 50% in a week or two which then sells off immediately at open the next day
7.) Mod says "fuck you, you guys ruined WSB" to the apes and gets de-modded by the other mods
Comment by PolyDipsoManiac at 07/01/2022 at 17:22 UTC
145 upvotes, 2 direct replies
It’s really a shame that WSB devolved into this. Disgusting that the mods are apparently all about it.
Comment by Teddyman at 07/01/2022 at 19:31 UTC
97 upvotes, 6 direct replies
2.) One dude nails a prediction and makes a ton
That dude was a financial analyst working for a company with half a trillion USD under management but this isn't a problem for the apes because reasons.
Comment by Smurf_Cherries at 07/01/2022 at 20:46 UTC*
32 upvotes, 4 direct replies
They're like the QAnon people in Houston waiting outside for JFK JR >!(who is dead)!< to return and make Trump God or something.
Then they all walk away after nothing happened saying "It's cool. We weren't wrong." What!? Yes you were!
Comment by [deleted] at 08/01/2022 at 05:13 UTC*
11 upvotes, 1 direct replies
This is an excellent summary. They saw a successful train pass by, and such an enormous number of lunatics jumped on the leftover hype smoke thinking they'll be the next millionaire that it looks like a cult.
Comment by Dan_inKuwait at 07/01/2022 at 18:07 UTC
7 upvotes, 0 direct replies
This is the most accurate narration that is.
Comment by crossdl at 08/01/2022 at 03:26 UTC
-4 upvotes, 1 direct replies
Step 4.5 - like, it went back to $40 at one point the rocketed up from there. Or has dropped to $150 then back to $250. Literally look at a price chart over a year. Plenty of places to buy at reasonable valuations and exit for profit and even buy back in at the next dip.
Also, I'm double my money right now. Straight up.
Comment by Retiredape at 07/01/2022 at 22:28 UTC
-29 upvotes, 1 direct replies
An hour worth of research and elementary logic is enough to disprove your basis for calling GameStop bulls conspiracy theorists.
Many industry experts have validated that GameStop is artificially suppressed and outlined all the illegal shit that citadel regularly does to bully stocks to go their way. Mainstream financial media disagrees, but that doesn't mean much when it only exists to manipulate markets. For example the motley fool is literally a hedge fund with an online publication who's only purpose is to swing stocks in their favor.
It is not uncommon for a stock to be shorted so hard that the company goes bankrupt because market makers can fabricate as many shares out of thin air that they want and play games with options to hide their shady moves. This happens all the time with biotech companies. The only reason GameStop hasn't met the same fate is that millions of retail investors bought and held and are still buying more.
So you have institutions that are paying out the ass to maintain an expensive short position against the success of GameStop who need retail investors to sell to truly force the price down, except they won't sell.
No matter how you cut it GME is fucky. All logic says it should be near worthless right now but it's not. Why isn't it? Because it literally can't be forced down per market mechanics. That's a good enough reason for me and many others to hold. It's asymmetric risk. If I'm wrong I lose a hundred bucks per share. If I'm right I get at a lot more than that per share.
I've left out a lot of details, obviously, but any of your questions have already been answered extensively in the appropriate sub, all you have to do is look for them.
Jk logic, research, common sense, and dozens of industry experts and insiders are worth nothing bc cnbc said that I'm in a cult because it makes their bosses money if I sell my favorite stock. /S
This is not financial advice.
Comment by abuttfarting at 09/01/2022 at 11:38 UTC
1 upvotes, 1 direct replies
Do you have a link where I can read more about point 2)?