I saw this… I thought it was quite interesting and, of course, my son follows the Wes Christian story.
He explained to me how GME is more than just a gaming store to “your” generation. I get it, but can’t imagine being able to hold onto a stock that has doubled because the institutional investors are able to counterfeit the stock because they each have their own pet Congresscritter or Federal BureaucRAT watching their backs (for their share of the vig!)
It is a solid post I hope gets lots of discussion. But, you know how cancel culture works around the farm. Certain pigs are more equal than other pigs.
Anonymous
June 8, 2021 9:15 am
It is counterfeiting but with the SEC’s blessings just like the counterfeiting that is Fiat dollars. When they are ready to pull the plug we will wake up one Monday and it will be a different but uglier world.
I love the analogy of someone xeroxing their car title and selling it to multiple people at the same time. It is probably the most succinct description of short selling that I have heard. Even someone who does not understand wall street can understand how this is completely wrong.
It is too bad these people own our congresscritters and are allowed to get away with something that would land an ordinary person in jail for a very long time.
The counterfeit car title does make a lot of sense, doesn’t it?
Harrington Richardson
June 8, 2021 11:07 am
The corrupt, incompetent SEC at work. Naked shorting is illegal as hell yet major banks and institutions do it every day. Analysts value Game Stop at “perhaps” $15 per share. Same with AMC.
People involved with this stuff fall into two camps-bloodsucking thieves and morons.
I have high hopes my son realizes that; however, he is in an excellent position to learn a really good lesson about what really makes a stock valuable: Price/Earnings
Liking the store is fine; nostalgia is not. Never fall in love with a company. It doesn’t love you back.
He won’t listen to me. I’m old. “Okay Boomer.” (He would never say it but I suspect he is thinking it.)
i forget
June 8, 2021 12:10 pm
At the very least, wear shorts when shorting. Usually have to accessorize too, wear the margin requirements, round neck, institutionally crossbow’d albatross style, same as for longs.
But counterfeiting starts at the top, which is to say the bottom of every institutionalized heart. Countries. And the stuff rolls downhill from there.
Liquidity. Lubricity. Liquescence. Can those be polluted, diverted, dammed, dyked & dicked? They cannot not be. The lovely L’s happen within countries, & among countries colluding, after all.
Coming soon to a world near you, if branch-davosians revelations can be made revealed, No Countries for Old Men – or anybody else, either. All we need is one world-wide di/vision ♪♫♪ of spoils. “Competition is for losers.” Tastes like “fried chicken.”
Zman gets near the heart, but misses the brain (“executive function” model glue sniffs). Institutions ain’t out there. Mirrors is out there. And never were they not carny mirrors.
I didn’t know that term. Might say everyone is a tribologist, one way or another, to one extent or another, tho. Lubed & worn, lubing & wearing…Lubyanka. Swim up this tributary, swim down that tributary. Hmmm…like the ocean’s a desert with the perfect disguise above, lube’s perfectly disguised antilube. Haboob, in a tube. I usta’ swim tributaries, now I’m a trilobite, buried neath the sands of liquescent time. Or bits of bitten off broken off pieces of trilobite; & all the kings horses & all the kings men won’t be relighting my tribe-oh again. Built a small block chevy, back when the engine of creation was eliminating processes, motors. Four-bolt mains, plastiguaged, tight-tight-tight. But, yes we have no lubananas, with thin enough slippery peels, to slip-slide away those pressurized frictions. But boy do we we have fictions: on sale today, 3 for a dollar, if you deinflate that license to lube back to 1913. The sound that motor made. The kinaesthete in me soaking up the thrum-throb it transmitted through the chassis, steering column, floorpan, seat. A rolling thunderquake, insulubed on 4 rubber contact patches, to slow down the erosion, the tectonic fracturing, but not stop it. By now that motor’s almost certainly returned to the boneyard from which I’d resurrected it. Or maybe was sent to the orient, like the WTC, to be melted down, reoriented, to disorient. Study, too, is lube in the haboob tube. No mitigation in this life. Everything holds plenty of the apposite opposite. So picture, for example, Bill/ions of undeinflated Gates, swinging on well-hubrislubed hinges. Soon or late, hinges unhinge, & the usual perp/endicular/s go horizontal, sink into the Ozymandias dust. “Slow learner” I saw somebody post. Lube, lube, everywhere & not a drop to unseize the engines of anticreation. So slow you pretty much have to say no: slearners is the ultimate friction:: muscles memorize, call it learning, muscles regurgitate, call it thinking::: roid rages against the dying of “the light” by wrapping itself in supermuscular emperor’s robes fictions of lubricious liquidity:::: & the drowning man’s life everlasting flashes before his eyes:::::hallucilube in a tube.
But I saw a western tanager yesterday. It was bathing in a fountain with a tiny solar-powered pump I set outside my window last week. And then, it liked it so much, it took a second bath. Bird, with brain to match, more than enough brain to know the difference between getting clean & drowning, threw me a lifeline view. Nature, not nurture. And nature denatures. And nature nurtures.
Anonymous
June 8, 2021 2:33 pm
If you’re short in this market, you’re not only nuts, but going broke.
AMC and GME went higher today.
Nuts. Absolutely nuts. As long as stimulus and spending continues this garbage will run higher
Yikes. HR says it’s worth around 15 dollars. My son says he bought at 110. He told me last week at 240 I should buy a block of 100 shares. I bought 25 because he said it will go to a thousand before the holders of GME will sell to the institutional short sellers trying to cover their illegal shorts.
If I tell my husband it’s up this much in less than a week, he will sell it because he thinks it is too risky for even a piece of my IRA.
Kind of exciting. He’s working on the treehouse today, so maybe I’ll forget to tell him.
I’ve been following both AMC and GME for the past 6 months now. The squeeze hasn’t happened yet. GME specifically is in a good position because they paid off all their debt as the stock was surging and raised capital to pivot to online commerce. GME’s value is far above $15 a share. AMC is less healthy because they got steamrolled during the pandemic and are debt heavy, but they’ve raised $2 billion. With the money raised they’re in a good position to buy distressed theaters.
Both companies have potential right now. The reason they’re different than the rest of the market is because the hedge fund shorted both companies roughly 120-140% (or more) and most stocks usually are shorted an average of 20-30%. The HFs really messed up and they will pay out the ass for their screw up.
I saw this… I thought it was quite interesting and, of course, my son follows the Wes Christian story.
He explained to me how GME is more than just a gaming store to “your” generation. I get it, but can’t imagine being able to hold onto a stock that has doubled because the institutional investors are able to counterfeit the stock because they each have their own pet Congresscritter or Federal BureaucRAT watching their backs (for their share of the vig!)
It is a solid post I hope gets lots of discussion. But, you know how cancel culture works around the farm. Certain pigs are more equal than other pigs.
It is counterfeiting but with the SEC’s blessings just like the counterfeiting that is Fiat dollars. When they are ready to pull the plug we will wake up one Monday and it will be a different but uglier world.
Probably butt ugly one too.
I love the analogy of someone xeroxing their car title and selling it to multiple people at the same time. It is probably the most succinct description of short selling that I have heard. Even someone who does not understand wall street can understand how this is completely wrong.
It is too bad these people own our congresscritters and are allowed to get away with something that would land an ordinary person in jail for a very long time.
It’s a BIG club, but we ain’t in it.
Also, those owned congresscritters voted themselves immunity to prosecution for insider trading.
When crime pays we get more of it.
The counterfeit car title does make a lot of sense, doesn’t it?
The corrupt, incompetent SEC at work. Naked shorting is illegal as hell yet major banks and institutions do it every day. Analysts value Game Stop at “perhaps” $15 per share. Same with AMC.
People involved with this stuff fall into two camps-bloodsucking thieves and morons.
I have high hopes my son realizes that; however, he is in an excellent position to learn a really good lesson about what really makes a stock valuable: Price/Earnings
Liking the store is fine; nostalgia is not. Never fall in love with a company. It doesn’t love you back.
He won’t listen to me. I’m old. “Okay Boomer.” (He would never say it but I suspect he is thinking it.)
At the very least, wear shorts when shorting. Usually have to accessorize too, wear the margin requirements, round neck, institutionally crossbow’d albatross style, same as for longs.
But counterfeiting starts at the top, which is to say the bottom of every institutionalized heart. Countries. And the stuff rolls downhill from there.
Liquidity. Lubricity. Liquescence. Can those be polluted, diverted, dammed, dyked & dicked? They cannot not be. The lovely L’s happen within countries, & among countries colluding, after all.
Coming soon to a world near you, if branch-davosians revelations can be made revealed, No Countries for Old Men – or anybody else, either. All we need is one world-wide di/vision ♪♫♪ of spoils. “Competition is for losers.” Tastes like “fried chicken.”
Zman gets near the heart, but misses the brain (“executive function” model glue sniffs). Institutions ain’t out there. Mirrors is out there. And never were they not carny mirrors.
https://www.takimag.com/article/institutional-collapse/
Chili con’d carne mirrors reflect what is “loved”:
The study of lubrication and wear mechanisms is called tribology.
Huh, you learn something new every day. I thought tribology was about native Americans.
I didn’t know that term. Might say everyone is a tribologist, one way or another, to one extent or another, tho. Lubed & worn, lubing & wearing…Lubyanka. Swim up this tributary, swim down that tributary. Hmmm…like the ocean’s a desert with the perfect disguise above, lube’s perfectly disguised antilube. Haboob, in a tube. I usta’ swim tributaries, now I’m a trilobite, buried neath the sands of liquescent time. Or bits of bitten off broken off pieces of trilobite; & all the kings horses & all the kings men won’t be relighting my tribe-oh again. Built a small block chevy, back when the engine of creation was eliminating processes, motors. Four-bolt mains, plastiguaged, tight-tight-tight. But, yes we have no lubananas, with thin enough slippery peels, to slip-slide away those pressurized frictions. But boy do we we have fictions: on sale today, 3 for a dollar, if you deinflate that license to lube back to 1913. The sound that motor made. The kinaesthete in me soaking up the thrum-throb it transmitted through the chassis, steering column, floorpan, seat. A rolling thunderquake, insulubed on 4 rubber contact patches, to slow down the erosion, the tectonic fracturing, but not stop it. By now that motor’s almost certainly returned to the boneyard from which I’d resurrected it. Or maybe was sent to the orient, like the WTC, to be melted down, reoriented, to disorient. Study, too, is lube in the haboob tube. No mitigation in this life. Everything holds plenty of the apposite opposite. So picture, for example, Bill/ions of undeinflated Gates, swinging on well-hubrislubed hinges. Soon or late, hinges unhinge, & the usual perp/endicular/s go horizontal, sink into the Ozymandias dust. “Slow learner” I saw somebody post. Lube, lube, everywhere & not a drop to unseize the engines of anticreation. So slow you pretty much have to say no: slearners is the ultimate friction:: muscles memorize, call it learning, muscles regurgitate, call it thinking::: roid rages against the dying of “the light” by wrapping itself in supermuscular emperor’s robes fictions of lubricious liquidity:::: & the drowning man’s life everlasting flashes before his eyes:::::hallucilube in a tube.
But I saw a western tanager yesterday. It was bathing in a fountain with a tiny solar-powered pump I set outside my window last week. And then, it liked it so much, it took a second bath. Bird, with brain to match, more than enough brain to know the difference between getting clean & drowning, threw me a lifeline view. Nature, not nurture. And nature denatures. And nature nurtures.
If you’re short in this market, you’re not only nuts, but going broke.
AMC and GME went higher today.
Nuts. Absolutely nuts. As long as stimulus and spending continues this garbage will run higher
How much higher?
Yikes. HR says it’s worth around 15 dollars. My son says he bought at 110. He told me last week at 240 I should buy a block of 100 shares. I bought 25 because he said it will go to a thousand before the holders of GME will sell to the institutional short sellers trying to cover their illegal shorts.
If I tell my husband it’s up this much in less than a week, he will sell it because he thinks it is too risky for even a piece of my IRA.
Kind of exciting. He’s working on the treehouse today, so maybe I’ll forget to tell him.
I’ve been following both AMC and GME for the past 6 months now. The squeeze hasn’t happened yet. GME specifically is in a good position because they paid off all their debt as the stock was surging and raised capital to pivot to online commerce. GME’s value is far above $15 a share. AMC is less healthy because they got steamrolled during the pandemic and are debt heavy, but they’ve raised $2 billion. With the money raised they’re in a good position to buy distressed theaters.
Both companies have potential right now. The reason they’re different than the rest of the market is because the hedge fund shorted both companies roughly 120-140% (or more) and most stocks usually are shorted an average of 20-30%. The HFs really messed up and they will pay out the ass for their screw up.
My son is a GME believer