1 month Game Stop stock trade as of 28 Jan 2021 1 month Game Stop stock trade as of 28 Jan 2021

Game Stop and Reddit Shenanigans18 min read

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Last updated – 29 Jan 2021

I have collected some links and quotes in case you guys are curious about what all of this Game Stop and Wall Street Bets Reddit Shenanigans is all about.

Here is a link to the Game Stop stock on Google.

Shorting Stock

This explanation can be found on the Twitter thread of David P. Hunt.

I know at least one of my followers doesn’t quite understand what is happening in the stock market right now and that’s enough to motivate me to explain because this is somewhat of a turning point in world history. First, you need to understand what a ‘short’ is in trading.

A ‘short’ is when you borrow a stock from a broker and sell it immediately at its current price. Then you hope the stock’s price falls such that you can buy the stock back at a lower price and return the shares you borrowed to your broker, but keeping the difference.

Example: Let’s say I want to short XYZ which has a current price of $10. I borrow 1 share and sell it immediately at $10. I have $10 now but I owe my broker the 1 share I borrowed. Then let’s say the price of XYZ drops to $7.

I now decide to ‘cover’ (buy it back) my short position and buy 1 share at $7 and return the 1 borrowed share to my broker. I made $10 when I sold and only had to pay $7 to buy it back lower, so my profit is the $3 difference.

But now let’s say that instead of the XYZ price dropping to $7, it goes up to $15. I still need to return the 1 borrowed share to my broker, except now it’s going to cost me a lot more the buy it back.

Open Letters

An open letter to CNBC from a r/WallStreetBets Moderator

You can find the original open letter here.

Before you spend another day hosting your shill hedge fund buddies to come on the air and demonize r/wallstreetbets I hope you read this.

Your contempt for the retail investor (your audience) is palpable and if you don’t get it together, you’ll lose an entire new generation of investors.

I keep thinking about these funds that are short GME like your boys at Melvin Capital / your coverage of this subreddit and I’m getting madder and madder.

These funds can manipulate the market via your network and if they screw up big because they don’t even know the basics of portfolio risk 101 and using position sizing, they just get a bailout from their billionaire friends at Citadel. Then they have the nerve to turn us into public enemy #1 just because we believe in an underdog company getting a second chance.

We don’t have billionaires to bail us out when we mess up our portfolio risk and a position goes against us. We can’t go on TV and make attempts to manipulate millions to take our side of the trade. If we mess up as bad as they did, we’re wiped out, have to start from scratch and are back to giving handjobs behind the dumpster at Wendy’s.

Seriously. Motherfuck these people. I sincerely hope they suffer. We want to see the loss porn.

An open letter to CNBC by Stable Genius

An Open Letter to Melvin Capital, CNBC, Boomers, and WSB

An Open Letter to Melvin Capital, CNBC, Boomers, and WSB

I was in my early teens during the ’08 crisis. I vividly remember the enormous repercussions that the reckless actions by those on Wall Street had in my personal life, and the lives of those close to me. I was fortunate – my parents were prudent and a little paranoid, and they had some food storage saved up. When that crisis hit our family, we were able to keep our little house, but we lived off of pancake mix, and powdered milk, and beans and rice for a year. Ever since then, my parents have kept a food storage, and they keep it updated and fresh.

Those close to me, my friends and extended family, were not nearly as fortunate. My aunt moved in with us and paid what little rent she could to my family while she tried to find any sort of work. Do you know what tomato soup made out of school cafeteria ketchup packets taste like? My friends got to find out. Almost a year after the crisis’ low, my dad had stabilized our income stream and to help out others, he was hiring my friends’ dads for odd house work. One of them built a new closet in our guest room. Another one did some landscaping in our backyard. I will forever be so proud of my parents, because in a time of need, even when I have no doubt money was still tight, they had the mindfulness and compassion to help out those who absolutely needed it.

To Melvin Capital: you stand for everything that I hated during that time. You’re a firm who makes money off of exploiting a company and manipulating markets and media to your advantage. Your continued existence is a sharp reminder that the ones in charge of so much hardship during the ’08 crisis were not punished. And your blatant disregard for the law, made obvious months ago through your (for the Melvin lawyers out there: alleged) illegal naked short selling and more recently your obscene market manipulation after hours shows that you haven’t learned a single thing since ’08. And why would you? Your ilk were bailed out and rewarded for terrible and illegal financial decisions that negatively changed the lives of millions. I bought shares a few days ago. I dumped my savings into GME, paid my rent for this month with my credit card, and dumped my rent money into more GME (which for the people here at WSB, I would not recommend). And I’m holding. This is personal for me, and millions of others. You can drop the price of GME after hours $120, I’m not going anywhere. You can pay for thousands of reddit bots, I’m holding. You can get every mainstream media outlet to demonize us, I don’t care. I’m making this as painful as I can for you.

To CNBC: you must realize your short term gains through promoting institutions’ agenda is just that – short term. Your staple audience will soon become too old to care, and the millions of us, not just at WSB but every person affected by the ’08 crash that’s now paying attention to GME, are going to remember how you stuck up for the firms that ruined so many of us, and tried to tear down the little guys. I know for sure I’ll remember this. In response, here is a list of CNBC sponsors and partners. They include, but are not limited to, IBMCiscoTMobileJPMorganOracle, and ZipRecruiter. Their parent company is NBCUniversal, owned by Comcast and GE.

To the boomers, and/or people close to that age, just now paying attention to these “millennial blog posts”: you realize that, even if you weren’t adversely effected by the ’08 crash, your children and perhaps grandchildren most likely were? We’re not enemies, we’re on the same side. Stop listening to the media that’s making us out to be market destroyers, and start rooting for us, because we have a once in a lifetime opportunity to punish the sort of people who caused so much pain and stress a decade ago, and we’re taking that opportunity. Your children, your grandchildren, might have suffered as I described because of the institutions that we’re fighting against. You really want to choose them, over your own family and friends? We’re not asking you to risk your 401k or retirement fund on a single GME bet. We’re just asking you to be understanding, supportive, and to not support the people that caused so much suffering a decade ago.

To WSB: you all are amazing. I imagine that I’m not the only one that this is personal for. I’ve read myself so many posts on what you guys went through during the ’08 crash. Whether you’re here for the gains, to stick it to the man as I am, or just to be part of a potentially market changing movement – thank you. Each and every one of you are the reason that we have this chance. I’ve never felt this optimistic about the future before. This is life changing amounts of money for so many of you, and to be part of a rare instance of a wealth distribution from the rich to the poor is just incredible. I love you all.

An Open Letter to Melvin Capital, CNBC, Boomers, and WSB by ssauronn

About the Controversy

Quote from the The Investor’s Toolbox:

Quote from the The Investor’s Toolbox:

I know alot of yall have been wondering why the markets have been FRIGGIN WEIRD the past few days, and I thought I would hop in and fill yall in.

If you guys haven’t been following the GameStop Stock Shit-Show, you really need to look into it. This is fucking hilarious.

Allow me to catch you up. So this hedge fund called Melvin Capital wrote out some douchey article about how the smart investment move would be to short-sell GameStop stock. To put it simply, short-selling is essentially gambling that a stock’s price will drop. If it does, you make money. If it doesn’t, you end up paying out money for however much it goes up.

Well, this little article that Melvin wrote pissed off a dark, dank corner of the internet called Wall Street Bets. WSB is a hive of Ritalin-addled lunatics who treat the stock market like a fucking casino. These dudes will regularly gamble their life-savings on a single trade. It’s a glorious thing to watch.

The WSB crew has a weird fascination with certain stocks. They call them “meme stocks.” Tesla is one, AMD is another, and GameStop, arguably, is the most weirdly beloved meme stock. So for reasons that make sense only to the degenerates on WSB, Melvin trying to short-sell their meme was a declaration of war.

Yes, this is dumb. But it gets so fucking hilarious. WSB decided to do a “short squeeze.” This is when you see people trying to short a stock, so you buy up that stock, and you get a bunch of other people to buy up that stock. With each purchase the price actually goes up. Since Melvin was trying to short the stock at a price of $20 per share, WSB wanted to get it as high above that price as humanly possible.

They got it up to $200 per share.

This means Melvin has to cover over $180 per share they bought.

This came out to billions. Fucking. Billions.

Melvin Capital, over night, was suddenly facing bankruptcy. Think about that. A bunch of self-identified degenerates on a fucking website were able to tank a fucking hedge fund. That’s hilarious.

Well, the rich and powerful don’t like seeing us plebeians fucking with one of their own. So Point72, another hedge fund, teamed up with a few other little funds, and they injected around THREE BILLION into Melvin Capital to keep them from spiraling. Essentially this meant the billionaire hedge fund crew were banding together to fight back against Wall Street Bets. And WSB just said “okay, no problem.”

Today the stock for GameStop is at $320 per share.

Melvin Capital lost all of that three billion they were given. It’s gone. They’re still fucked. Point72 gave a little over a billion of that injection, and that means that fund dropped from 17 billion to 16 billion. That means in less than 24 hours WSB managed to all but ensure one hedge fund will die and drop the value of another by 6% so far.

$GME was just the start. They avalanche effect this has had across the entire market has been HISTORY MAKING.

And remember, WSB are just a bunch of jackasses on the internet.

They aren’t hedge fund guys, they aren’t millionaires or billionaires.

This is literally being done by morons with a phone app coordinating to ruin billionaires’ lives because they can.

What we’re watching here with GameStop stocks is a bunch of rich people who are getting fucking wrecked, purely for entertainment, by the kind of middle-class and poor people they regularly lobby against and treat like this. This “eat the rich” via phone app. It’s “damn the man” with a meme-stock.

It’s fucking beautiful.

And because whoever is writing our reality lost all sense of subtlety after 2020, the icing on the cake is that the app the WSB crew are using to pull this off is a stock-trading app called Robin Hood.

Yeah, as in steal from the rich and all that jazz.

I truly love living in 2021 compared to 2020.

As such, What do yall think of these shirts I am getting made? I have to pick one so please give me 1,2 or 3 as your favorite 🙂

The Investor’s Toolbox


This first video with Saagar does a great job of going over the hypocrisy and corruption with all that is happening.

Saagar Enjeti: Wall Street Elites REGULATE, DEPLATFORM Redditors Who BEAT THEM On GameStop
Krystal Ball: GameStop And The Ecstasy Of Making Elites Pay

AOC and her guest go over the basics of what the previous links and stuff went over. Good to see her going over this on a Twitch stream with someone for others to hear about and to get educated on.

AOC learns how Robinhood makes its money



Letter from Robinhood

From here and various memes through the webs.

It’s been a tough day, and we’re grateful to you for being a Robinhood customer. In light of the extraordinary market conditions this week, we temporarily limited buying for certain securities this morning. Starting tomorrow, we plan to allow limited buys of these securities.

We’ll continue to monitor the situation and may make adjustments as needed. This was a temporary decision made to best continue serving you, and was not an easy one to make. We know it’s led to frustration and confusion, and wanted to provide some clarity.

As a brokerage firm, we have many financial requirements, including SEC net capital obligations and clearinghouse deposits. Some of these requirements fluctuate based on volatility in the markets and can be substantial in the current environment. These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today. To be clear, this decision was not made on the direction of any market maker we route to or other market participants.

The past year in particular has shown us that the financial markets are for everyone—not just institutional investors and hedge funds. We’ve seen a new generation enter the market, and they’re sparking conversations about what it means to be an investor. We stand in support of you, our customers. Democratizing finance for all means giving more people access, not less. We’ll keep monitoring market conditions and will update this Help Center article with the latest changes. We also published a blog post regarding today’s events. Thank you again for being a Robinhood customer. We’re so grateful for your support.


The Robinhood Team

Letter from Robinhood to investors


Lift the Trading Ban

For all the Robinhood users out there. Send in a ticket. Select other for all help options then hit continue to agent. #LiftTheTradingBan

So, you’re disallowing the common man from investing in stock markets to profit off volatility? I bet you wouldn’t cut our trading access if we had a couple of billion in the bank. Just like the rest of them. If you want to keep our accounts I would suggest lifting the trading ban.

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