Stance on GME \ stacker news ~news

1162 sats \ 15 comments \ @0xBitcoin 7 Jun news

How does everyone feel about Gamestop and RoaringKitty? I heard he is being investigated for stock manipulation, which is unreal.

Could someone be targeted for stock manipulation in terms of Bitcoin now that it has a spot ETF? If so, that would be insane.

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223 sats \ 2 replies \ @grayruby 7 Jun

I think the GME people are rightfully pissed off that the game is rigged against the little guy but are expressing it in a silly way by buying a company with a broken business model, hoping to punish some hedge funds shorting. Even if they squeezed every single hedge fund out and bankrupted them all it would do nothing to change the game. Roaring Kitty and other big GME holders would get fabulously rich but most of the GME plebs would be the bag holders.

They would be better off being bitcoiners, slowly and steadily infecting the current system before eventually taking over.

It is better to live a hero than to die a martyr.

20 sats \ 1 reply \ @Bell_curve 7 Jun

Good analysis

13 sats \ 0 replies \ @grayruby 7 Jun

Thanks. I say something clever once an awhile but I try to limit the occurrences as to not raise people's expectations. Haha.

53 sats \ 0 replies \ @Car 7 Jun

plebdev just told me he is streaming rn

just heard about it today, just unable to fathom shilling fiat stocks, its wild to me

15 sats \ 0 replies \ @southside263 8 Jun

GME apes. Bitcoin plebs. same team.

113 sats \ 2 replies \ @Undisciplined 7 Jun

The short selling part is hilarious, especially since it's the same stock as last time.

Of course, the regime won't let their cronies to take the L, though.

69 sats \ 1 reply \ @Bell_curve 7 Jun

Do you know about the short squeeze for Porsche and Volkswagen?

https://www.tradingsim.com/blog/volkswagen-short-squeeze-explained#VW-short-squeeze

After the stock price peaked, Porsche released around 5% of its Volkswagen holdings at stratospheric prices and allowed short sellers to close their positions. After the 28th of October, the stock plummeted by more than 58% in the next four days. A month later, the stock was down 70% from its height.   Nevertheless, short sellers suffered heavy losses as they were caught between the rising prices and the limited supply of shares in the market. According to some estimates, hedge funds lost around $30 billion on their Volkswagen short positions.

13 sats \ 0 replies \ @Undisciplined 7 Jun

No, I don't remember that at least.

34 sats \ 1 reply \ @gmd 7 Jun

IANAL but it seems every talking head on TV is pumping their own bags... I don't see how this is different other than it's an obvious meme. But you see tesla bulls/shorts doing the same, cramer etc.

99 sats \ 0 replies \ @Bell_curve 7 Jun

Cramer lol

Do the opposite

21 sats \ 0 replies \ @kilianbuhn 7 Jun

I think it's just buraucracy. Nothing will come out of this investigation

He's just a private person. No insider knowledge from inside the firm or a bank. If anything, more transparancy is better than less transparancy.

He'll just walk away free.

21 sats \ 1 reply \ @Akg10s33 7 Jun

My opinion is that it is unrealistic and totally crazy... and I don't think it can happen...