Fury Resurrected Posted January 27, 2021 Share Posted January 27, 2021 1 hour ago, GrimTuesday said: Best take I've seen on the gamestop bubble and the fact that is going to burst hard Don't know if anyone is following the news out of Bessemer Alabama about the Amazon warehouse workers unionizing, but right now what is going on is Amazon is trying to prevent the workers from voting by mail in the union vote. They've filed with the NLRB to prevent mail in votes, which suddenly the fact that Biden shit canned Peter Robb and installed his own guy looms very large. If the NLRB denies Amazon's request, I think that is a very good sign that this administration is going to be a strong friend of labor. If Biden can somehow begin to lay the foundation for restoring union power, that would be a huge deal both for the left, and the future of workers regardless of political affiliation in this country. As far as unions go, I don’t think we need to worry too much. His NLRB guy is great and he’s got a decent track record for labor Link to comment Share on other sites More sharing options...
all swedes are racist Posted January 27, 2021 Share Posted January 27, 2021 yaknow, i think if we started a godundme, and everyone in this forum pitched in even $20, we could really go a good way to helping melvin capital get back in their feet. i just hate to see folks so down and out, we gotta look out for one another especially in these trying times Link to comment Share on other sites More sharing options...
DMC Posted January 27, 2021 Share Posted January 27, 2021 1 hour ago, GrimTuesday said: They've filed with the NLRB to prevent mail in votes, which suddenly the fact that Biden shit canned Peter Robb and installed his own guy looms very large. If the NLRB denies Amazon's request, I think that is a very good sign that this administration is going to be a strong friend of labor. Well, I'm not sure how much of a sign the NLRB's ruling will be at the moment. Biden also named the only Democrat on the board - Lauren McFerran - as chair, but the other three members are not only Republicans but Trump appointees. There is one vacancy, but Biden won't be able to achieve Democratic control until one of the Trump appointee's - William Emanuel - term expires on August 27. As noted here, while most elections (90%) shifted to mail-in last year, the board did postpone a number of mail-in elections as well. It should also be noted the general counsel does not get a vote on such a ruling and the office acts more as a prosecutor or DA in terms of arguing/overseeing cases and enforcing rulings. Until the composition of the board is changed, I wouldn't expect a change in the Trump appointees' voting behavior. Or at least if they don't change, I don't think it's Biden's fault. (Of course, that being said, I don't know enough about NLRB decisions to have an informed expectation of how they'd vote on this case.) Link to comment Share on other sites More sharing options...
Fragile Bird Posted January 27, 2021 Share Posted January 27, 2021 The markets had their worst day in a while today. I suspect a lot of people had to sell their winners to cover their losses from shorting a number of stocks. Facebook is down 9.91, Amazon is down 93.55, Alphabet is down 89.01, and many others. In the meantime shares of companies with problems like AMC, Nokia and Blackberry are up big. Oh, Gamestop is up a hilarious 199.53! Link to comment Share on other sites More sharing options...
Myshkin Posted January 27, 2021 Share Posted January 27, 2021 Listen, all I know about this GameStop stuff is that the bros at r/WallStreetBets are “going to the moon, boys!”, whatever that means. Link to comment Share on other sites More sharing options...
Week Posted January 27, 2021 Share Posted January 27, 2021 17 minutes ago, Myshkin said: Listen, all I know about this GameStop stuff is that the bros at r/WallStreetBets are “going to the moon, boys!”, whatever that means. Andromeda! Lol Wall Street is really looking foolish with the pearl clutching of behavior by the pleebs that only THEY should be allowed to do. Consider the market moves by a tweet, article, etc. by Musk, Icahn, Trump (last four years at least), Ackman, Paulson, etc. Part of the reason, as I understand, that this was possible is that hedge funds' short positions could not be covered by available shares. It's a fuck up that has blown up in their face and they want people to feel bad for them. No and fuck no. Link to comment Share on other sites More sharing options...
Deadlines? What Deadlines? Posted January 27, 2021 Share Posted January 27, 2021 3 hours ago, Mindwalker said: Reality, she's a bitch. 2 hours ago, Mindwalker said: Interesting video from Jan 5: https://twitter.com/1Realnatalee/status/1354410934266040325/photo/1 These guys would be much more terrifying if they were smart. God, I love social media. Link to comment Share on other sites More sharing options...
Fez Posted January 27, 2021 Share Posted January 27, 2021 1 hour ago, Week said: Part of the reason, as I understand, that this was possible is that hedge funds' short positions could not be covered by available shares. It's a fuck up that has blown up in their face and they want people to feel bad for them. No and fuck no. Yeah, the amount of Gamestop shares being shorted was equal to 140% of the total amount of shares in existence. It was an insane imbalance (and was literally the most shorted stock in the entire NYSE prior to all this) and I'm kinda surprised it took a bunch of redditors to figure it out/go for it. Some big hedge fund could've dropped a few hundred million dollars on its own and triggered all this by itself (and kept all the profits for itself). Despite the memes, this isn't rocket science, it's almost literally the end of the movie Trading Places. Which is another reason why any push for new regulations is just sour grapes. The other blossoming meme stocks (Black Berry, AMC, Tootsie Roll, a few others) all have similar situations as Gamestop, but none of them are being shorted to nearly the same extent. There's still enough to trigger a squeeze, but I doubt it would be anything like this. And I say this as the proud receiver of a 300% return so far on AMC stock and bought some Black Berry this morning as well. Link to comment Share on other sites More sharing options...
Mindwalker Posted January 28, 2021 Share Posted January 28, 2021 1 hour ago, Deadlines? What Deadlines? said: Reality, she's a bitch. These guys would be much more terrifying if they were smart. God, I love social media. Yes, I'm wondering if the FBI is doing investigations of their own, or just read social media... If the head of the FBI and the DOJ held a press conference, maybe they'd tell us. Mehdi Hasan has a timeline of the insurrection, what led up to it: Link to comment Share on other sites More sharing options...
Zorral Posted January 28, 2021 Share Posted January 28, 2021 3 hours ago, Fury Resurrected said: As far as unions go, I don’t think we need to worry too much. His NLRB guy is great and he’s got a decent track record for labor Biden has said that this is among what his administration is fighting for. Has anyone else noticed all the ads sponsored by FB, proclaiming how much FB supports fair and balanced political reporting? Also, it's cool he's talking to Putin, telling us what about -- and we are hearing that Putin's totally flipped out over the anti-Putin regime demonstrations going on all over Russia. What makes me shallowly happy about this, is whether or not he's ousted, he isn't going to be able to live in that beyond the grand pale palace he built himself outta how many people's, institutions', business's, and government funds that were not his funds (and by now he's got socked away so much funds of his very very very own, which can no longer be shown to belong to anyone but his own self). Like some others, he's out on his ear, he'll have to live in some other country. Link to comment Share on other sites More sharing options...
Mr. Chatywin et al. Posted January 28, 2021 Share Posted January 28, 2021 53 minutes ago, Fez said: Yeah, the amount of Gamestop shares being shorted was equal to 140% of the total amount of shares in existence. It was an insane imbalance (and was literally the most shorted stock in the entire NYSE prior to all this) and I'm kinda surprised it took a bunch of redditors to figure it out/go for it. Some big hedge fund could've dropped a few hundred million dollars on its own and triggered all this by itself (and kept all the profits for itself). Despite the memes, this isn't rocket science, it's almost literally the end of the movie Trading Places. Which is another reason why any push for new regulations is just sour grapes. The other blossoming meme stocks (Black Berry, AMC, Tootsie Roll, a few others) all have similar situations as Gamestop, but none of them are being shorted to nearly the same extent. There's still enough to trigger a squeeze, but I doubt it would be anything like this. And I say this as the proud receiver of a 300% return so far on AMC stock and bought some Black Berry this morning as well. Shouldn't we be worried that they've learned their lesson and in the future will do exactly this? Link to comment Share on other sites More sharing options...
Zorral Posted January 28, 2021 Share Posted January 28, 2021 A very close friend, who has been 'playing Gamestop shares' for a very long time, locked in $250,000 as gain. He says he feels a little guilty -- but he'd had a lot of those shares early on just because -- I dunno, I don't understand these things; around here all we do is cyber security and cannabis. But he was rather astonished. Link to comment Share on other sites More sharing options...
Fragile Bird Posted January 28, 2021 Share Posted January 28, 2021 2 hours ago, Myshkin said: Listen, all I know about this GameStop stuff is that the bros at r/WallStreetBets are “going to the moon, boys!”, whatever that means. Discord has banned WallStreetBets from their site, not for any issues with possible trading violations or fraud, but because they were repeatedly warned to clean up their site. Apparently a lot of violent, ugly language and threats were used against various parties and I guess their mods didn't crack down on it. I assume the language was directed at hedge fund managers. And Reddit has turned WallStreetBets into a closed thread. You need an invite to participate in it now. I'm quite sure the SEC will be reviewing a lot of posts and they'll be looking for lies and misleading information and checking to see who is doing the lying and spreading misinformation. GameStop shares are down 25% in after hours trading and I'm wondering where the stock price opens tomorrow. The shorts are buying options that won't make them money unless it falls below $70, so the bonfires may just be starting. Link to comment Share on other sites More sharing options...
Fez Posted January 28, 2021 Share Posted January 28, 2021 20 minutes ago, Zorral said: A very close friend, who has been 'playing Gamestop shares' for a very long time, locked in $250,000 as gain. He says he feels a little guilty -- but he'd had a lot of those shares early on just because -- I dunno, I don't understand these things; around here all we do is cyber security and cannabis. But he was rather astonished. I imagine anyone who bought last year based on the 'fundamentals' case, that the stock was simply undervalued based on the assets of Gamestop the company (and the idea that they could successfully pivot their business post-pandemic) and should be closer to $10 than the $3 it was, has to be extremely surprised by what's being going on. I'd absolutely cash out if I was in that position. Who cares if you maybe miss out on a chance to double your investment yet again, you're already up 1,600%. Take the money and run. Link to comment Share on other sites More sharing options...
Mindwalker Posted January 28, 2021 Share Posted January 28, 2021 Even Glenn Kirschner is getting frustrated... Didn't he get the memo that it's all moot anyway? *** Link to comment Share on other sites More sharing options...
Zorral Posted January 28, 2021 Share Posted January 28, 2021 3 hours ago, Fez said: I imagine anyone who bought last year based on the 'fundamentals' case, that the stock was simply undervalued based on the assets of Gamestop the company (and the idea that they could successfully pivot their business post-pandemic) and should be closer to $10 than the $3 it was, has to be extremely surprised by what's being going on. I'd absolutely cash out if I was in that position. Who cares if you maybe miss out on a chance to double your investment yet again, you're already up 1,600%. Take the money and run. In the meantime, things with this have changed again. In other words, it is beginning to look as though this -- what does one call it? a movement? a revolt? while everyone is laffing at the hedge fund(s) coz they were going to take out this company and cannibalize it -- a game changer? Assassins blahblahblah -- there they all are playin' the game FOR REALS. Not that I understand any of this, I say, again . Link to comment Share on other sites More sharing options...
Martell Spy Posted January 28, 2021 Share Posted January 28, 2021 Oh man, we can't have an "activist" at the HUD. Makes me wonder what GOP aides are saying behind closed doors if they are saying this shit to reporters. She might actually support BLM and that would be awful. How dare she ask for human beings to be housed. Marcia Fudge to press senators for more housing aid, setting up clash with GOP “We need to expand resources for HUD's programs to people who are eligible,” the HUD nominee plans to say. https://www.politico.com/news/2021/01/27/marcia-fudge-hearing-hud-463366 Quote Rep. Marcia Fudge (D-Ohio) will call on lawmakers to boost funding for housing programs in the U.S., saying the money allocated by Congress is woefully inadequate to help the millions of Americans struggling to stay in their homes. “We need to expand resources for HUD's programs to people who are eligible,” Fudge, President Joe Biden's nominee to head the Department of Housing and Urban Development, will tell the Senate Banking Committee on Thursday, according to prepared remarks. “Today, according to a 2017 study, only 1 out of 5 eligible households receive housing assistance.” The call for dramatically increased housing aid — even beyond the money spent during the coronavirus pandemic — sets up a potential showdown with Republicans concerned about what one congressional aide to a top GOP lawmaker called an “activist HUD." Link to comment Share on other sites More sharing options...
Mindwalker Posted January 28, 2021 Share Posted January 28, 2021 https://www.politico.com/news/2021/01/27/second-officer-suicide-following-capitol-riot-463123 A second police officer who responded to the violent insurrection that rocked the Capitol Building on Jan. 6 has died by suicide, according to testimony obtained by POLITICO. (...) The report of an additional officer’s death once again shook Capitol Hill, where many members and staff are still reeling in the three weeks since the insurrection. Link to comment Share on other sites More sharing options...
IheartIheartTesla Posted January 28, 2021 Share Posted January 28, 2021 538 is now tracking Biden approval ratings: https://projects.fivethirtyeight.com/biden-approval-rating/ Averages to about 54/35 (not too much change when you go to likely/registered voters). The topline is similar to the vote share he got, so I imagine the undecideds are from those who didnt vote for him but still willing to give him a chance (like DMC mentioned before, I think, that brings his ceiling to somewhere in the mid 60s) Link to comment Share on other sites More sharing options...
Mr. Chatywin et al. Posted January 28, 2021 Share Posted January 28, 2021 Nice to see it only took two weeks for McCarthy to go from "Republicans and Democrats need to show unity" to "Republicans need to stop attacking one another and unify to defeat the Democrats in 2022." Any Republican that doesn't support expelling Greene needs to branded as a supporter of hers and all her crazy beliefs. Link to comment Share on other sites More sharing options...
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