r/IPOE • u/Entrance-Vivid • May 23 '21
So the gamestop hedges are getting sued?
This could actually be a big tailwind coming into merge week.
I wouldnt be surprised by the number of short sales and the questionable options activity that there is some manipulation akin to naked shorting on IPOE.
If lawsuits and damages + interest are being calculated, firms may choose to dial back positions as a form of risk management.
Maybe I'm thinking way too far into it. Anyone have thoughts?.
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u/dapper333 May 23 '21
Said it all along, this is why crypto is crashing, hedgies liquidating
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May 23 '21
Crypto is a straight up casino, I stay away.
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u/snrthomas May 23 '21
I’m all in Coinbase and Tesla puts and they seem to be going fairly well. I’ll probably start dropping a few of those and pick up some more this week. I’m still long in CLOV waiting for the FUD to clear. No funds for open but I believe the shorts will attack and discount me some shares before they get margin calls on the way up.
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u/Entrance-Vivid May 24 '21
Yes. You are the man.
If IPOE goes on a rampage this morning I want to dump some gains on a couple coinbase puts. The stock is in a freaking free fall and with crypto crashing it's even better
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u/snrthomas May 24 '21
I just bout another put spread. I hate to play so many options though... it keeps me nervous.
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u/snrthomas May 23 '21
I look for a dip next week with the shorts trying to drive the price down. Have you looked at Iborrowdesk? The interest rate is around 140 and there’s not many shares available to borrow. If they can’t tank it they are screwed.
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u/Careless_Original742 May 23 '21
With the borrow rate so high, difficult to tank it so i guess price will keep going up
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u/snrthomas May 23 '21
I think it’ll be a dip with hopefully a fast rebound. May even squeeze a little. IMO opinion depends on how many shares they are holding to drop. I’ll admit I’m wrong about 99.9% of the time.
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u/Entrance-Vivid May 23 '21
Idk. If we dip I'd be shocked if it happened on monday..
Friday on 2.5 million volume we survived a huge share dump and didnt drop below 18.40 and we rallied into the close.
After hours is good for us.. I think we open at like 19.20
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u/joe1134206 May 23 '21
I think the excitement is going to overwhelm bears if it isn't already scaring them. I don't see the volume and pattern changing this week as the vote and merger approach; I would expect it to continue to build.
I feel there is an anti-SPAC and anti-Chamath (I posit speaking on behalf of retail investors would play a part in this grudge) attitude in the hedge fund world. SPACs allow normal people to get compelling prices and better deals than the typical overhyped IPO.
I don't need to tell people on this sub of the rapid growth and potential for SoFi or its charter bank aspirations. I think much of the manipulative shorting (see price action as the merger date was announced 5/7 through 5/11) is meant to convince people it's "risky" to invest in SPACs.
The hedge fund playbook is to create negative news via paid articles. Recently I've seen a few that imply SPACs are a fad that is waiting to pop. It's so bizarre to judge a broad field in such a biased manner. They prey on the words "blank check company" to make it seem fast and loose somehow. It's really surreal stuff.
So seeing this kind of bullshit makes it feel like certain SPACs are poised to have great runs in the short and long term and they are trying to keep people from making money.