Gamestop?

[Montecfo]

Quote:

Originally Posted by Running_Man They had Citicorp given the authority to sell up to 100 million in shares. Notice won't be given until they have to file SEC filings. If you remember Hertz was approved by a judge to sell shares, while they were in the midst of a bancruptcy proceeding and sold some before the SEC stopped it.

Shelf registration?

[Running_Man]

Quote:

Originally Posted by Fermion BTW, Robinhood seems nigh unusable right now, almost certainly because three million kids in their mom's basement are betting their summer McDonald's earnings on these meme stocks. And me, a "real" investor, am up $6,500 on some Merck calls and can't sell them because the website is borked.

These are not kids, and they have turned their attention to Silver which has been discovered to be the #1 short of banks in the United States. You are underestimating what is occuring. I don't know why Silver would be such a big short for banks but Silver is now up $1.50. When they do a HUNT brothers on the US government, the Fed is going to be forced to act. Meanwhile most investors have no problem with the Federal Reserve spending 8 trillion for worthless securities to protect their stock market investment.

[JoeWras]

Quote:

Originally Posted by Fermion And me, a "real" investor, am up $6,500 on some Merck calls and can't sell them because the website is borked.

One of the Redditbros had a post for you. Basically, they went on a rant asking all boomers to help in the effort. "We don't hate you, boomer. But let us do our thing. Support us. Throw some cash in too, or just let us do our thing and stand aside." Something like that.

So stand aside, boomer, and let the kids revolt.

[Running_Man]

Quote:

Originally Posted by Montecfo Shelf registration?

GameStop has an ATM offering going. It put it in place on Dec. 8, 2020, when the stock was at about $16.35. The way these things work is that GameStop disclosed that its bank could sell stock—up to $100 million worth—“from time to time” at GameStop’s request

[JoeWras]

Since I usually don't get deep in the weeds on all this, I have a real question.

How are they finding out about all these short positions? Is this something that has to be published?

Signed, ignorant Joe.

[Montecfo]

Quote:

Originally Posted by Running_Man GameStop has an ATM offering going. It put it in place on Dec. 8, 2020, when the stock was at about $16.35. The way these things work is that GameStop disclosed that its bank could sell stock—up to $100 million worth—“from time to time” at GameStop’s request

Thanks. That's interesting and wise. Maybe the company turns out to be the only true winner here

[NW-Bound]

Quote:

Originally Posted by JoeWras Since I usually don't get deep in the weeds on all this, I have a real question. How are they finding out about all these short positions? Is this something that has to be published? Signed, ignorant Joe.

Yes, it's public information.

See: https://www.investor.gov/introductio...ansaction-data

Many financial Web sites show the short interest for each stock listing, along with all other financial data. I only look at these secondary sources (which may not be correct or updated), and do not go the the primary sources. But then, I am not a hedge fund manager, and do not short stocks.

[Running_Man]

Quote:

Originally Posted by JoeWras Since I usually don't get deep in the weeds on all this, I have a real question. How are they finding out about all these short positions? Is this something that has to be published? Signed, ignorant Joe.

Specific numbers about volume, average daily share volume or days to cover, is acquired from broker-dealers as part of the exchange's regulations. Many websites provide the information free of charge. Most Hedge funds up until last week actively promoted their short ideas through issued reports and on CNBC.

[ivinsfan]

You know as someone who has gone one on one with the CBOT for almost 40 years, you guys all underestimate the power and ruthlessness of these faceless " big boys"

MY DH and I have said for at least 20 years, that if the CBOT boys could make a dollar a bushel off the corn we raised and leave us a penny, they would try to get the penny too.

The greed in Wall Street hedge funds is unimaginable to many of us. Don't feed me a line about stable markets, or managing risks, blah, blah, blah. .that's the trojan horse they use to go plundering.

[corn18]

Quote:

Originally Posted by JoeWras Since I usually don't get deep in the weeds on all this, I have a real question. How are they finding out about all these short positions? Is this something that has to be published? Signed, ignorant Joe.

Says it right under statistics on Yahoo finance.

https://finance.yahoo.com/quote/GME/...atistics?p=GME

[ExFlyBoy5]

Quote:

Originally Posted by Fermion BTW, Robinhood seems nigh unusable right now, almost certainly because three million kids in their mom's basement are betting their summer McDonald's earnings on these meme stocks. And me, a "real" investor, am up $6,500 on some Merck calls and can't sell them because the website is borked.

It's not just usability issues, the chatter seems to indicate that Robin Hood is only allowed folks to sell and NOT buy...and it doesn't seem to be tied to margin requirements. If Robin Hood is indeed doing this...well, that IS market manipulation. Setting a 100% margin requirement is allowed (and makes sense right now), but shutting off buyers all together?

[MRG]

Quote:

Originally Posted by ExFlyBoy5 It's not just usability issues, the chatter seems to indicate that Robin Hood is only allowed folks to sell and NOT buy...and it doesn't seem to be tied to margin requirements. If Robin Hood is indeed doing this...well, that IS market manipulation. Setting a 100% margin requirement is allowed (and makes sense right now), but shutting off buyers all together?

See post #160 robinhood has chosen to disallow purchases of certain equities.

[Out-to-Lunch]

Quote:

Originally Posted by corn18 Says it right under statistics on Yahoo finance. https://finance.yahoo.com/quote/GME/...atistics?p=GME

Whoa! I just clicked on Corn's link, just to see the stats on shorting, and was treated to a real-time view of the swan dive. Down ~44% now.

Edit: and now it seems to be frozen? No updated prices in the last 5 minutes...

Edit to my edit. Looks like I was premature on the frozen comment.

[JoeWras]

Thanks to the answers to my questions. Very helpful. Back when I was playing individual stocks, I should have paid attention to this.

Quote:

Originally Posted by Running_Man Most Hedge funds up until last week actively promoted their short ideas through issued reports and on CNBC.

Wow. So the Redditbros stole their gun and used it against them. For now.

Quote:

Originally Posted by ivinsfan The greed in Wall Street hedge funds is unimaginable to many of us. Don't feed me a line about stable markets, or managing risks, blah, blah, blah. .that's the trojan horse they use to go plundering.

I think that the movie Wall Street and the Gekko character tried to go into that. Of course, Stone had to dramatize and give a sort-of-happy-everyone-gets-their-comeuppance ending. In the real world, most people don't see these players as they silently make their hundreds of millions.

[jim584672]

10:00am - 470
11:15am - 153

Great entertainment.

[pb4uski]

Quote:

Originally Posted by jim584672 Waiting for the music to stop and the chair scramble to begin.

Exactly, the last-in of the longs will get hurt badly... once it starts cratering there will be no buyers because the intrinsic value is so low and the game will be over (or put another way, the game will stop).

[Fermion]

lol GME just lost 14B in 30 minutes...is that a record?

[corn18]

Quote:

Originally Posted by jim584672 10:00am - 470 11:15am - 153 Great entertainment.

$126

[Montecfo]

Well, like I said.

[NW-Bound]

As I mentioned earlier, shorting these stocks at their ridiculous high seems lucrative, but not easy to borrow shares at that point, plus the high risk. And the closest thing to shorting I have done is to buy puts, but the premium on GME was outrageous as I described, and did not leave me much room for profit.

But, but, but, yesterday I looked around among the few stocks that popped the most in recent days. I do not go to reddit, but spotted BBBY (Bed Bath and Beyond) among the poppers. And the puts were not too expensive, so I bought 1 PUT 40 Feb 5 for a lark. I was prepared to lose all of the $600.

BBBY surged to as high as $53 yesterday (from $20 a week ago). It is dropping, and at $32 now. I have gained enough for a few XO bottles.

My real gains hopefully will be from purchases of other "innocent" stocks that people sold yesterday. I made a 6-figure commitment there.

PS. Will I make enough from that lousy single PUT to have enough for a jamon iberico ham in addition to the XO? I guess I will hang on to the put for a few more days to find out. The option expired next Friday.