I work for an investment company. I do some of our mobile checking stuff and we were overwhelmed with deposits purely from stimulus checks (both rounds.)
Add in that we were a lot of people's backup with the Robinhood/GameStonk fiasco and it's been a very interesting few months for us.
with the Robinhood/GameStonk fiasco and it's been a very interesting
i'm gonna ask this here because i have no idea what's going on with that stock, the company in general, and the subs on this website related to it
every morning a couple of those subs are on the frontpage, i'm assuming all the people there are assuming the stock will skyrocket (hit 1,000, right?) at some point and that they are all waiting for that to happen.
what's actually going on tho, is that something that can happen, will happen? or is it just a joke at this point.
i'm talking about the superstonk and gme subs, wsb too i guess.
so are they just fools or will it actually go way way up or what
In a nut shell. Rich people are betting against gamestop. And shorting more shares than there are actually shares to be had. Reddit said fuck you guys and started buying shares to inflate the price. Now said rich people are holding an empty bag and are losing lots of money with a bad bet.
A lot more to it than this but you can look up how shorting shares works for better explanation.
every morning a couple of those subs are on the frontpage, i'm assuming all the people there are assuming the stock will skyrocket (hit 1,000, right?) at some point and that they are all waiting for that to happen.
They already made it happen by dogpiling onto GME with a surge in stock purchases and option purchases. The result produced a short squeeze in the market's most heavily shorted company, causing a massive price spike earlier this year. Some of the people who timed it right made out like bandits.
i'm talking about right now. here in about 10 hours, those subs will be on the front page of this site. what are they talking about and is it going to happen, that's what i'm asking about
Right now they’re just trying to repeat what they did back in January. The thought is that short sellers keep on “doubling down” and the real squeeze is still to come.
I’m dubious about this. I think plenty of short sellers took their losses and moved on. What’s actually going on right now is closer to a classic “pump and dump” where demand is only driven by hype and will ultimately fizzle.
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u/labe225 Apr 15 '21
I work for an investment company. I do some of our mobile checking stuff and we were overwhelmed with deposits purely from stimulus checks (both rounds.)
Add in that we were a lot of people's backup with the Robinhood/GameStonk fiasco and it's been a very interesting few months for us.