GME and AMC stock action (out of main)

[TheTalkingMule]

These poor hedgies bought all those expensive headlines today calling the AMC rally over, all for nothing. The rout continues.

 

[Buckminster]

AMC, BB, GME and Clov all squeezy today. I should exit now and get my money back but where is the fun in that?

 

[TheTalkingMule]

The world is awash in cash, with trillions more in the mail. What a mess. These hedgies shoulda known better than to hold their short positions and/or try to pile on.

People are buying up $100 WTI call options with both hands. Unclear when this all implodes.

 

[Doggydogworld]

The world is awash in cash, with trillions more in the mail. What a mess. These hedgies shoulda known better than to hold their short positions and/or try to pile on.

People are buying up $100 WTI call options with both hands. Unclear when this all implodes.

And when it does implode, the only tool is even more liquidity. There's no turning back now.

 

[Buckminster]

CLOV up 48% today. Should I sell? Market cap = $7Bn.

 

[Buckminster]

WISH up 60% today - all over. I wish I had spotted earlier...

 

[TheTalkingMule]

CLOV up 48% today. Should I sell? Market cap = $7Bn.

Yes. I was sitting on CLOV for a while and forced myself to sell it at like $8 having bought at $10. Grrrrrr

In fairness, I did use the proceeds for TSLA options so.......

My thought was that these guy would be bought up at some point and 2-3x the $10 SPAC entry price at least. This is just a short squeeze, so no real indication of fundamentals or a pending deal. They're growing tho, not a terrible company in a not so lean industry!

Nice to see the shorts get burnt in any capacity. Lord knows why they think it's logical to short anything right now.

 

[Buckminster]

CLF is the new WSB darling. Forward p/e ratio is 11.5. I will buy a bit in the morning. Getting addicted to these...

 

[goinfraftw]

Anyone have ideas on what to make of this?

Google Trends

Edit: the breakdown by state is most fascinating.

 

[goinfraftw]

Mod: In future please give a brief description of what you are linking (rather than just the dry official title). --ggr
This report is about the GME short squeeze.

Sure, I'll bite and be the first to link...

https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf

Conclusions start on Page 43.

 

[TheTalkingMule]

Ugh. I don't have the emotional strength to read past the very beginning of the very first "conclusion".

The extreme volatility in meme stocks in January 2021 tested the capacity and resiliency of our securities markets in a way that few could have anticipated.

Totally. I mean....how could anyone possibly see a problem with allowing hedge funds to short a stock 3x beyond the actual number of shares available. I mean, what could have possibly gone wrong?

What a joke. The whole thing is rigged. It's inner workings laid bare for all to see, clear as day. And nothing.

Thanks for posting, I'll read through tomorrow when I'm better able to handle it.