GameStop : GME

[jamesg46]

The "YOLO" crowd know what they're doing. Its a low float stock, so it they drive the stock up holding the majority of the shares then not only do hedge funds have to cover but so does anyone holding an option contract... if they "Hold the line" which is the whats going around then there isn't enough shares for hedge funds and options contract owners to cover their positions.... the risk is in the options chain.

[jamesg46]

This from what I now perceive isn't about anything other than wanting to punish hedge funds and that feeling has gotten stronger when Citadel "apparently" reloaded on their short position before Robinhood restricted people from buying it.... its now attracted the attention of no other than AOC & Ted Cruz who are calling for an investigation into Robinhood... also seeing posts that say law suits have been filed against Robinhood. What a way to take the mind off all the other drama we currently have.

I think I can answer that for AOC. All those robinhooders that bought GME at 300+ did so on margin. Meaning, that if GME sinks back to 20 there won't be enough money in their accounts to cover the losses and robinhood will be left holding the bag. For the clients it's #YOLO, for RH it could mean bankruptcy.
This has nothing to do with oppressing the little guy; it's just risk management.

Sorry just re read this and realised you said 300+ on leverage... totally right to close them positions imo to mitigate risk. It's not just those positions that they're closing though if you believe what's said in sm land.

[jamesg46]

Bloody hell, its back towards $400. Another day of madness on the cards.

[Euler]

Most decent brokers have changed their margin requirements for volatile stocks and stayed open.

[jamesg46]

I thing this is the target list.

[jamesg46]

I will defo be keeping an eye on these.... this is from what Reddit users are posting not something I've put together.

[jamesg46]

Seen some big names/wallets backing this on sm:

Elon Musk
Kanye West
Ja Rule
Trump Jr

Hundreds of millions of followers combined & they're hyping up and getting behind the short squeeze folk (YOLO crowd)

That's just the ones I've seen, then it's all over main stream news. Begs the question; just how silly will this get.

[gazuty]

Captain obvious comment - Musk hates short sellers.

[Euler]

Captain obvious comment - Musk hates short sellers.

Y, a good case for why shorters are disliked.

[jamesg46]

Didn't he once give them a Bruce Bonus by telling them TSLA stock was too high?

[megarain]

This is an excellent explanation of the situation.

markmeldrum.com

YouTube video 15 mins - can’t post pic as file error again.

[jamesg46]

This is an excellent explanation of the situation.

markmeldrum.com

YouTube video 15 mins - can’t post pic as file error again.

https://youtu.be/KJf-ro7coAg

[wearthefoxhat]

Imagine if Betfair had their own traders and decided not allow the software to accept lay betting....

Hold on, something like that happened not so long ago, with the software...Hmmmmm

suspicion.png

[jamesg46]

Imagine if Betfair had their own traders and decided not allow the software to accept lay betting....

Hold on, something like that happened not so long ago, with the software...Hmmmmm


suspicion.png

https://giphy.com/gifs/YellowstoneTV-pa ... pGiz70oRki

[jamesg46]

One for the big wallet list.