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Reddit vs. Wall Street

Discussion in 'Sports and News' started by Inky_Wretch, Jan 27, 2021.

  1. Scout

    Scout Well-Known Member

    I love how these assholes are pissed that what they talk about on the golf course is now less powerful than a sub on Reddit.
     
    Inky_Wretch likes this.
  2. Scout

    Scout Well-Known Member

    Reddit is waiting for the funds to blink. They don’t believe that they have covered. They want the Redditors to sell and they still hold the shorts.

    The Redditors also know how leveraged these funds are and they can only keep up this game of fuck you for so long.
     
  3. tapintoamerica

    tapintoamerica Well-Known Member

    I have no idea about these things. Any predictions on where GameStop closes one week from today?
     
  4. Michael_ Gee

    Michael_ Gee Well-Known Member

    If they have covered and the Redditors are wrong, well, it won't be a pretty ending.
     
  5. Scout

    Scout Well-Known Member

    But if the Redditors are correct...
     
  6. goalmouth

    goalmouth Well-Known Member

    Stock market equivalent of Oklahoma trying to return $2m of hydroxy. LOL
     
    HanSenSE likes this.
  7. DanielSimpsonDay

    DanielSimpsonDay Well-Known Member

  8. Inky_Wretch

    Inky_Wretch Well-Known Member

    He might be. But he’s voicing what a lot of people are feeling as they see traditional Wall Street folks clutch pearls about all this.

    I’ve seen some financial folks griping about stimulus money causing this. They aren’t complaining about the Fed’s zillions of stimulus, but $400 to Redditors is the real problem.
     
  9. The Big Ragu

    The Big Ragu Moderator Staff Member

    It's not a monolithic group, like you just need to get "them" to cover.

    The short float is still ridiculously high -- even with a lot of the covering that has gone on in the last day. It will likely remain so, because there are undoubtedly players who have come in with the stock trading where it is, and are poised to withstand an even bigger squeeze.

    This won't end because of covering. It will end because of profit taking, which will bring the price back a bit, which will then bring on panic from the weak hands that piled in late.

    Someone will actually end up making a lot of money from shorting the stock. It is jut won't be Gabe Plotkin this time.
     
  10. The Big Ragu

    The Big Ragu Moderator Staff Member

    Trust me, "traditional Wall Street" is not clutching pearls. They think it is great. The street has been getting very rich in the era of central bank controlled debt markets, by being LONG (not short) dogshit companies (many zombie companies that are piling on debt and losing money and) whose stock prices are being levitated higher. Wall Street as a whole isn't being hurt by this. A few players who got caught offside are, and if anything, there's a sense of schadenfreude about it because the short sellers have been like the skunk at the picnic when they have talked about fundamentals.
     
  11. goalmouth

    goalmouth Well-Known Member

    Wall Street can never be hurt because they've rigged the game.
     
    Mr. Sluggo likes this.
  12. goalmouth

    goalmouth Well-Known Member

    The hell you say

     
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