GME and AMC stock action (out of main)

[ByeByeJohnny]

AMC (yes, movie theaters) is only 68% shorted. They went from 5 to 7 (40%) up AH. So many shorts that won't be able to sleep tonight.

Good thing Elon don't need any friends among financial institutions. I don't think he'll be getting any x-mas cards this year.

 

[Nocturnal]

The bad thing for us is that Burry was long gme and made a bunch of money.

Nice call. Imagine the craziness tomorrow with TSLA. Will shorties double down?

Sounds like they will. They really don’t understand how crazy their opponents are. I hit 3x and cashed out. Too crazy for me but those maniacs are holding.

 

[printf42]

For a lot of people now, it isn't even about the money.

Agree, I don’t even believe brick & mortar businesses would ever come back after COVID.

But still I bought just 1 share of GME and planning to never sell and full prepared to lose it all long term.

Not for profit, just for lols when we see shorts busted one by one.

 

[pz1975]

The bad thing for us is that Burry was long gme and made a bunch of money.

Sounds like they will. They really don’t understand how crazy their opponents are. I hit 3x and cashed out. Too crazy for me but those maniacs are holding.

Haha paper hands! I’m sticking with my diamond hands for now.

 

[ByeByeJohnny]

According to some posts on reddit Melvin Capital is losing a billion per $12 it goes up and should be forced to cover at around $175. Doubt we'll see any 'friends' put in more money to save them.

 

[Nocturnal]

According to some posts on reddit Melvin Capital is losing a billion per $12 it goes up and should be forced to cover at around $175. Doubt we'll see any 'friends' put in more money to save them.

Makes sense. At about 4 the stock spiked like crazy, as high as 240. Looked like covering.

 

[Prunesquallor]

Elon tweeted about "Gamestonk"

now up another $40!

Wow. Given all this nonsense and a new SEC chair, maybe some reform?

 

[pz1975]

Love seeing the bad guys lose! This event will change the way the hedge funds short stocks going forward.

 

[Prunesquallor]

Elon is now the hero of WSB. Let's hope they use their new GME gains to buy Teslas.

Or destroy TSLA shorts.

 

[UnknownSoldier]

Based Papa Elon knew what he was doing. No trading halts after hours. He literally tweeted that 8 minutes after the close.

 

[Nocturnal]

Based Papa Elon knew what he was doing. No trading halts after hours. He literally tweeted that 8 minutes after the close.

Apparently Melvin Capital has been bearish on Tesla for a long time. Elon doesn’t forget. haha
https://www.reddit.com/r/teslainves...elvin_capital_has_been_buying_put_options_on/

 

[heltok]

I dread that WSB discovers how shorted NKLA is and Trevor Martin overtakes Elon as the world’s richest person...

 

[KMCC]

I love this,...
I would rather see this than Tesla have $50+ day.

This could bode well for Tesla.

The people who make all this easy money will then say to themselves "Elan sure helped us screw the shorts so why not invest in Tesla and help screw tesla shorts!

This is a big change that is permanent. Shorts will be looking over their shoulder and probably peeing their pants.
I couldn't be happier! this is a really good day

 

[amolina]

Hahaha, do we need any more proof that Hedgies and market makers are trying desperately to close their open calls on GME.

[Edit]: I was almost sure that GME calls must have been closing. However, another inspection of max pain didn't reveal any closure. Maybe, the IV dips are simple calculation bugs on marketchameleon?? This is super interesting. Will watch those IV along tomorow

Stock Option Max Pain

Was anybody watching the IV closely on GME today??
Is it even possible to catch those low IV's ?

 

[pz1975]

I think this is just the first success that WSB/reddit will have along these lines - investing big in highly-shorted stocks. I anticipate at least 1-2 more of these squeezes over the next little while. Once GMC is over, they will collectively have massive profit to deploy and many more followers than now. Unless the SEC somehow reins them in (not sure why or how), I envision more squeezes like this. Possible next targets are BB, AMC and even NOK from my reading there, but who knows for sure. I would highly recommend spending some time there - beneath the memes and jokes, there are some very knowledgeable posters, and with what we have all weathered with TSLA over the years, I would not want to miss jumping on the next train to destroy the shorts based on the preconceived ideas that they are just lucky, millenial idiots over there. That is the image they try to portray and it works to keep MSM blind and not recognizing their current and future power.

 

[chronoreverse]

In an ideal world, the lesson from this would be that illegal things like naked shorting over 100% of the float should be monitored and regulated like they supposed to be. In the real world, they'll probably figure some way to crack down on the WSB folks as if they're the real problem.

If you read carefully, the actual smart WSB people aren't doing this just because a company is highly shorted. It was recognition of a number of factors that combine into a perfect storm. Everyone is going to learn the wrong lesson from this after the fact unfortunately.

 

[bro1999]

Agree, I don’t even believe brick & mortar businesses would ever come back after COVID.

But still I bought just 1 share of GME and planning to never sell and full prepared to lose it all long term.

Not for profit, just for lols when we see shorts busted one by one.

I bought 2 token shares @95 yesterday. Already up 140%. I'm in till either $1,000 or bust, and I'm 100% certain one of those is going to happen.

 

[printf42]

This trade is going to set a cap on how much percentage of any individual stock can be shorted in the future, in the form of internal risk control rules for shorts.

This makes it very much unlikely an activist short trade would be able to squash a company by shutting financing for prolonged periods.

Also it scares off new shorts in the middle of a squeeze, because those new “smarter” shorts turned out to be dumber and looses even more shirts than the OG batch.

If the GME longs just holds and drag it for say a year, the shorts borrowing fees alone would make it worth it.

Very eager to see how this would play out, haha

 

[TheTalkingMule]

There literally aren't enough shares to cover, all they have to do is sit tight for a month or two.

 

[richrootes]

It's actually an interesting discussion what the modern interpretation of "stock manipulation" or "collusion" should be. A group of people doing joint research and coming to a joint conclusion that either the stock is under valued or that there is a potential for a stock squeeze, and then in unision deciding to go long "together" while clearly understanding that there is a dynamic in many people getting behind a stock? Is that illegal? I mean a classic "pump and dump" would be illegal, but this is not what has happened here. Is what we've been doing here on TMC for many years illegal?

Sounds very much like ‘OPEC’ to me - they set whatever price they like and get away with it