Wall Street Bets on Reddit

J

JustTheGent

Well-known member
Obviously most are familiar with the news by now. But it will be interesting to see what movements emerge going forward. The fact that an army of novice bedroom traders can cause such havoc in financial markets will act as an inspiration to many. It's not about the money as such, it's about causing extremely wealthy people to lose big. It's a digital pitchfork movement. Perhaps time for the billionaires to watch their backs. Looking forward to watching the film about this one 😎
 
Silver up nearly 6% on today's opening in Asia - there has been very large buying of silver over the weekend promoted through Reddit. Some big people must be shorting silver and they are targets.
 
In saying it's not about the money, the gent who started the short squeeze is actually up 30 million dollars. After all, those billions in losses by the hedge funds have to end up somewhere. Obviously some of these bedroom traders have made some colossal amounts.
 
Redwurzel said:
Silver up nearly 6% on today's opening in Asia - there has been very large buying of silver over the weekend promoted through Reddit. Some big people must be shorting silver and they are targets.
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Be very careful getting into silver (unless taking physical delivery). Silver will not be in anyway what's happening with gme.

This week could be absolutely bonkers, it looks quite possible that there's been naked short selling on gme. This with the position of retail being 'ill hold forever' this could create systemic risk.

This is not financial advice, be safe, be careful.
 
JustTheGent said:
In saying it's not about the money, the gent who started the short squeeze is actually up 30 million dollars. After all, those billions in losses by the hedge funds have to end up somewhere. Obviously some of these bedroom traders have made some colossal amounts.
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What is crazy is you can lose an unlimited amount on these shorts, where does all the unlimited money go?
 
MolteniArcore said:
What is crazy is you can lose an unlimited amount on these shorts, where does all the unlimited money go?
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In to the pockets of the people who are long, or brokers who are offering the spread. (It's only unlimited in the sense that the price has no actual ceiling). Ultimately in the case of Gamestop, when the Reddit investor group (and others) lose interest or lose their nerve, the share price will come crashing back down again, and the shorters won't be sitting on such painful positions.
 
The_Lizards_Jumpers said:
It never existed in the first place, so whilst you lose that amount no one really gains it.
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Assuming that the hedge funds have to realise their losses, (and can afford to settle without going bust), then someone somewhere will be on the other side of the trade.
 
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ThirdLeg said:
In which ones?
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Temporarily, in Canada ,Australia and some Euro states.( Google for more info) The legislation remains for them to put these laws back in place.
Every seller needs a buyer , of course, but the current unfettered abuse of shorting is just wrong for the economy.
Loving the current Reddit activity, esp as I have holdings in a silver mine that I've been considering letting go.
 
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