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1 hour ago, BigRedBuster said:

Did he sell at the high?  If not, it didn't change much for him.

It's up 3000% from the beginning of January. You didn't have to sell much to make a huge profit.

 

There are 88 billion shares of GameStop common stock outstanding right now. So he owned about 11,440,000 shares. Let's just say he bought it at 9 buck a share. Today you would only need to sell about 2.5% of your stock to break even, and 5.6% would double your investment. Selling 28% means you walk away with a cool profit of $1 billion dollars!

 

 

Michael Burry is already on record saying he is neither long or short on them anymore. AKA I sold off enough and I'm good now.

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11 minutes ago, BigRedBuster said:

Yep...I agree and that sucked.

 

That wasn't due to misinformation being purposely disseminated by these people for the sole purpose of manipulating a company's stock.  That's the only point I'm making.  That is very illegal and is heavily regulated.

 

6 minutes ago, BigRedBuster said:

 

5 minutes ago, BigRedBuster said:

I'm not sure I agree that 2008 didn't have misinformation for manipulating a company's stock but thanks for the links.

 

Regardless, I'm sure the elites will find a way to end WSB.

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10 minutes ago, ZRod said:

It's up 3000% from the beginning of January. You didn't have to sell much to make a huge profit.

 

There are 88 billion shares of GameStop common stock outstanding right now. So he owned about 11,440,000 shares. Let's just say he bought it at 9 buck a share. Today you would only need to sell about 2.5% of your stock to break even, and 5.6% would double your investment. Selling 28% means you walk away with a cool profit of $1 billion dollars!

 

 

Michael Burry is already on record saying he is neither long or short on them anymore. AKA I sold off enough and I'm good now.

GameStop won’t last at this price for very long.  At some point soon the plebes will get tired of holding and want to take profit, inciting panic selling and a return to normal for GameStop.  The Professionals will make plenty of money on the way down.  
 

I just hope the commoners realize that pigs get fat and hogs get slaughtered.  

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34 minutes ago, BigRedBuster said:

In Britain...

 

 

 

This guy got off on charges of insider trading

S.A.C. Capital's Michael Steinberg gets insider-trading charges dropped

 

Where he sent this guy (Gabriel Plotkin) the same information

The burden of being SAC Capital’s “Portfolio Manager B”

 

Gab happens to own Melvin Capital who is one of the biggest losers on these shorts. Who, as Archy pointed out, was bailed out by Citadel. Who is a major part of Robinhood's revenue. Another savior of Melvin was Point72

Which was formally S.A.C., managed by Steinberg from above until he was charged and they pled guilty to insider trading at which point they changed their name and he is no longer with the company.

 

So it's all a twisted web of insider convictions, dropped charges, and similar faces.. 

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1 minute ago, Archy1221 said:

BTW...since we are discussing market manipulation, the biggest market manipulator is the Fed

No s#!t. That's their job.

19 minutes ago, Archy1221 said:

GameStop won’t last at this price for very long.  At some point soon the plebes will get tired of holding and want to take profit, inciting panic selling and a return to normal for GameStop.  The Professionals will make plenty of money on the way down.  
 

I just hope the commoners realize that pigs get fat and hogs get slaughtered.  

They're more than self aware over there. Most guys are probably banking some earnings.

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5 minutes ago, ZRod said:

In Britain...

 

 

 

This guy got off on charges of insider trading

S.A.C. Capital's Michael Steinberg gets insider-trading charges dropped

 

Where he sent this guy (Gabriel Plotkin) the same information

The burden of being SAC Capital’s “Portfolio Manager B”

 

Gab happens to own Melvin Capital who is one of the biggest losers on these shorts. Who, as Archy pointed out, was bailed out by Citadel. Who is a major part of Robinhood's revenue. Another savior of Melvin was Point72

Which was formally S.A.C., managed by Steinberg from above until he was charged and they pled guilty to insider trading at which point they changed their name and he is no longer with the company.

 

So it's all a twisted web of insider convictions, dropped charges, and similar faces.. 

it’s interesting that the Mets ownership were caught up in Madoff and now Mets ownership is caught up in GameStop saga 

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58 minutes ago, RedDenver said:

Regardless, I'm sure the elites will find a way to end WSB.

Which, I have been supportive 100%.  The only thing I said is if this happened by them purposely distributing misinformation to manipulate the stock, they lose my support and they should be dealt with similar to the traders in the articles I linked.

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2 minutes ago, knapplc said:

 

Why should they get rid of WallStreetBets?

I wasn't clear.  I'm supportive of WallStreetBets. I support retail investors and have always been frustrated (as a retail investor) that i can't have the same information that is spread around amongst major Wall Street investors.  

So....I'm not for getting rid of something like WSB even though I really know nothing about them.

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So now there are rumors trickling in that not everyone was lock out of trading GME, AMC, and BB the other day. Can you guess who could still trade? High networth investors.

 

Sounds about right since Hedgefunds and other high networth investors have always had different rules, but still extremely shady.

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11 minutes ago, ZRod said:

So now there are rumors trickling in that not everyone was lock out of trading GME, AMC, and BB the other day. Can you guess who could still trade? High networth investors.

 

Sounds about right since Hedgefunds and other high networth investors have always had different rules, but still extremely shady.

Fidelity never shut off trading. I think there might have been another broker or two that just stopped allowing buying on margin. 

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1 hour ago, FrantzHardySwag said:

Fidelity never shut off trading. I think there might have been another broker or two that just stopped allowing buying on margin. 

I know Schwab didn't, but they had a lot of glitches earlier this week. I'm just talking about the firms that were blocking it.

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