Short bets - Hedge funds are getting hit hard


Its funny watching the rich whine on CNBC about the impact on hedge funds and how wrong this is. They have no problem when they are trying to drive companies out of business with short orders. They have no problem shorting more stock than available. They are getting burned now, just like they have screwed the little guy for years by shorting stock and forcing companies out of business.

The wealthy used all resources to try to stop this from happening yesterday. Their fake concern about the "average investor" was laughable, they have never cared before while they were forcing down the price of stocks, but now they are concerned.

I agree with Kevin O'Leary this morning on CNBC, those that lose money will learn by doing.

View: https://www.youtube.com/watch?v=_AAgbLSHUEM
 
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GameStop short sellers are still not surrendering despite nearly $20 billion in losses this month
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https://www.cnbc.com/2021/01/29/gam...te-nearly-20-billion-in-losses-this-year.html

The astronomical rally in GameStop has imposed huge losses of nearly $20 billion for short sellers this month, but they are not budging.
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Short-selling hedge funds have suffered a mark-to-market loss of $19.75 billion year to date in the brick-and-mortar video game retailer, including a nearly $8 billion loss on Friday as the stock kept ripping higher, according to data from S3 Partners.

Still, short sellers mostly are holding onto their bearish positions or they are being replaced by new hedge funds willing to bet against the stock. GameStop shares that have been borrowed and sold short have declined by just about 5 million over the last week, marking an 8% dip in the short interest, according to S3. Most of the short covering occurred on Thursday, when the stock fell for the first time in six days.

“I keep hearing that ‘most of the GME shorts have covered’ — totally untrue,” said Ihor Dusaniwsky, S3 managing director of predictive analytics. “In actuality the data shows that total net shares shorted hasn’t moved all that much.”
 
Robin Hood is done. They can cancel their IPO that was slated for the next few months. Class action lawsuits, jail time for some and Citron Research and Melvin Capital may really go bankrupt! I love it. It's about time main street has even the playing field with wall street.

Now let me get back to purchasing a few more shares of AMC before market close. 🤣 :cool:
 
This guy might learn a painful lesson, I wish him the best, I would become a millionaire and run.

BEARS MAKE MONEY, BULLS MAKE MONEY, PIGS GET SLAUGHTERED!

J Vanover put about $4,500 into a risky bet on GameStop and followed the saga on the subreddit Wallstreetbets. Now, this Missouri dad who earns $35,000 a year is a millionaire on paper. CNN's Jon Sarlin asks him why he isn't cashing out.

View: https://www.cnn.com/videos/business/2021/01/29/trader-millionaire-gamestop-stock-orig.cnn
 
FYI from Mark Cuban: Regarding the GME selloff this morning.
Supply and Demand, but in this case it literally could be because the source of demand has been crippled . When RH shut it down, then cut it back, lets put aside why, they cut of the greatest source of demand. They created a RobinHood Dive. No RH buyers, means sellers lower their price to find buyers. And they keep on lowering it till they find buyers. Keep the most natural buyers out of the market and the price keeps on FALLING.
Then that drop accelerates because the more the stock falls the more owners who bought on margin get margin calls. When that margin call happens, its brutal. They just take your stock, send you a fuck you note and sell your stock at the market price, no matter how low. They just want to get your cash to pay back the loan.
That then accelerates the selling.
Which then leads to what we are seeing in the market right now with GME in particular

So what to do ?
If you can afford to hold the stock, you hold. I dont own it, but thats what i would do.
Why ? because when RH and the other online brokers open it back up to buyers, then we will see what WSB is really made of. That is when you get to make it all work.
I have no doubt that there are funds and big players that have shorted this stock again thinking they are smarter than everyone on WSB.
I know you are going to hate to hear this, but the lower it goes, the more powerful WSB can be stepping up to buy the stock again. The only question is what broker do you use . Do you stay with RH , who is going to have the same liquidity problems over and over again, or do you as a group find a broker with a far, far, far better balance sheet that wont cut you off and then go ham on Wall Street.
 
Cuban nailed it. A lot of manipulation since last Thursday beginning with Robin Hood is what got us to this point. The financial news outlets are also complicit. They went hard at GME and AMC creating as much doubt as they could.
 
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WallStreetBets is going to make people broke. AMC and GameStop got slaughtered over the last couple of days. People are acting cult-ish in the WeBull comment section and Reddit forums by recycling misinformation as gospel. I ain’t taking that risk.

I think even Mark Cuban alluded to this on Reddit yesterday. RH let them down and Melvin Capital has access to billions to pay out the shorts

I'm glad I only bought one share of AMC instead of buying a lot of shares. I'm gonna just slide that into some crypto and call it a day
 
Cuban nailed it. A lot of manipulation since last Thursday beginning with Robin Hood got us to this point. The financial news outlets are also complicit. They went hard at GME and AMC creating as much doubt as they could.

Seeing people cry for greedy billionaires made my stomach churn

And also they were successful in putting the #SilverSqueeze misinfo out there which played right into what MC wanted them to do
 
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