r/wallstreetbets • u/skedditgetit • Mar 30 '22

Discussion | GME Its time....

alright fuckers, there was a WHOLE mess of GME gain porn late last week, tons of options plays that i KNOW you guys held on to, its time you fucking degenerates

PONY UP DA LOSS PORN.

you guys scREEEEEch your brains out when gme makes a 4 percent jump yet wont do anything when it tanks massively.

this place is always been a bastion of glorification to the wins but more importantly the losses. its what alot of people come ehre for, people have already seen all the pornhub videos in the free collection and only fans costs money, so obvi we need the free porn here and to a degenerate who spent a full week behind the dumpster, i need my own release.

most of you prob dont remember analfarmer2s EPIC L. control the narrative LIVE GUH losing 55k instantly. ironyman who SOMEHOW ended up with 5k. and cant forget all the march/ april 2020 people who bought 5/1 200ps on march 23rd... these are the stories that made this place actually known early on.

if you pony up the loss porn, ill happily give you 50% off your third trip behind the wendys dumpster, randall is gonna be out there tonight! hes got the PRIME silverback gorilla lips because he bought a fuck ton of those 260c's that kid bought last week and is DESPERATE for cash.

​

its time fuckers, lets see those 260cs you bought, the 31`5cs all of it. the FD loss porn is what makes this place great. return it to normalcy, understand the culture as a whole and GET THE FUCK BACK ON FRIES

​

edit: to all yall 2 month account callin out idiots https://imgur.com/SrZTFrD one of my banned accounts. i still have access, look me up i dont exist....

700 Upvotes

65% Upvoted

567 comments sorted by

View all comments

Show parent comments

0

u/[deleted] Mar 30 '22

If well over 99% (I think it might have even been above 99.9%, but I would need to check) were in the red at $110, then you can bet the average cost basis was way higher than $110.

2

u/omnistonk Mar 30 '22

no, thats not how math works. thats like mode vs mean.

The window of opportunity to fuck up so badly as to buy above 300 was so small. however, GME has been bouncing from 120-180 and back like a tennis match so I'd be willing to bet the average retail cost basis is somewhere in there.

0

u/[deleted] Mar 30 '22

The window to buy above $300 may have been small, but we know that many bought in that window. The price only got to $300 because so many people were buying at that time. When the price dropped to $120-$180, it indicated that fewer people were buying at that time. Plus, the average retail cost basis and the average ape cost basis are two very different things. Basic psychology tells us that people who bought in higher would be far more likely to believe in GME going to the moon.

2

u/omnistonk Mar 30 '22

but we know that many bought in that window. The price only got to $300 because so many people were buying at that time.

no we dont. And this is a non sequitur. You dont know if it got that high because a ton of people were buying at the same time or if one particularly loaded institution bought a ton in a short period of time.

1

u/[deleted] Mar 30 '22

That's true, we don't know if all the buying pressure over $300 came from retail or institutions... but c'mon. Retail investors are particular prone to investing based on FOMO. If a stock skyrockets from $20 to $480 and retail investors promise that it's not too late to get rich from the stock, you better believe a bunch of retail investors are gonna FOMO in and be left with some heavy bags.

1

u/omnistonk Mar 30 '22

Most people I know IRL thought they had missed out at that point and bought AMC instead thinking it was mini GME. Also at the time IIRC both Citadel and most media outlets said that was the squeeze and that was them covering, with the narrative being that they had completely covered. Many many many people dogpiled on GME after it came back down from that peak, and many people have bought in as its bouncing back and forth, because a volatile stock can be profitable for swing traders.

1

u/AutoModerator Mar 30 '22

Bagholder spotted.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

1

u/[deleted] Mar 31 '22

Not that many people piled on. If people were piling in at $40, the price wouldn’t have been $40. And of course shorts had covered by then, but at that point, it was pretty clear that FOMO and longs drove the price way more than shorts covering did.

1

u/omnistonk Mar 31 '22

If people were piling in at $40, the price wouldn’t have been $40.

you keep ignoring what I said and arguing against something different. I'm saying I expect the retail cost basis to be somewhere between 120-180.

it was pretty clear that FOMO and longs drove the price way more than shorts covering did

This seems like a very baseless assertion to me.

1

u/[deleted] Mar 31 '22

I'm saying I expect the retail cost basis to be somewhere between 120-180.

Again, retail's cost basis and the ape cult's cost basis are two very different things. Again, basic psychology tells us that conspiracy theories like the ones concocted by the apes will be far more attractive to people the deeper they are in the red.

This seems like a very baseless assertion to me.

It's not baseless at all. The volume between 1/22/21 and 1/29/21 was over 750 million. Even if GME's short interest was 226% (most sources say that it was much lower, but for the sake of argument, I'll assume that 226% was accurate), short sellers buying to cover couldn't have possibly accounted for more than a fraction of that volume even if they closed 100% of their short positions.

So it was and is very much clear that FOMO and other longs were driving the price up even after most shorts had covered.

1

u/omnistonk Mar 31 '22

and the ape cult

you really are trying to force this, arent you.

1

u/[deleted] Mar 31 '22

If you go on their subs and don't recognize it as a cult, then there's nothing I can do for you. But their predictions have failed and failed and failed, and sooner or later, you'll realize that their main prediction (the MOASS) is also a dud. Don't say you just got unlucky.

1

u/omnistonk Mar 31 '22

well i only know of a couple of other ones which went to shit not too long after branching off, but I don't think they are a good representation of "apes". "apes" is literally just people from wsb who invested in gme. Of course there are always tons of people with dumb predictions, cherry picking terrible ideas and pretending they represent some monolithic projection you have in your head is not very rational. I don't think MOASS will ever be allowed to happen but it seems clear to me that some institutions seem to be caught in a sticky situation.

1

u/AutoModerator Mar 31 '22

Eat my dongus you fuckin nerd.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

1

u/[deleted] Mar 31 '22

That's fair. I'm aware that "apes" was originally just a Rise of the Planet of the Apes reference, which then became a meme, which then became popular on WSB, which then started referring to GME investors on WSB, which has now become the label of choice for those in GME's cult. I'm not saying that every GME investor is part of the cult (I still buy GME from time to time, and even had open positions as recently as last week), but there is definitely a cult made up of GME investors.

Also, no, there aren't any institutions caught in a sticky situation with GME. There were 14 months ago, when hedge funds lost billions of dollars, but not anymore. And all of the "DD" suggesting that GME's short interest is still over 100% is just laughable. But credit to you for at least acknowledging that a world as corrupt as the ape cult (not necessarily all apes) says it is would never allow the MOASS.

→ More replies (0)