The WSJ reports Traders Who Launched GameStop Frenzy Are Turning Against New Members.
Longtime members of the Reddit forum that was the launchpad for the GameStop GME frenzy are lashing out at the group’s millions of new users, asking whether they can be trusted and accusing them of working for hedge funds.
WallStreetBets has been hit by bots that question some of the members’ investing initiatives and pitch commission-free brokerage accounts, according to a Wall Street Journal analysis of the posts.
Longtime followers have reacted to the deluge of new content by asking moderators to ban new users or take additional steps to limit where they appear. “Seriously, the 6 million new users have f— this place up,” one user wrote Monday. “New users are coming here to screw us,” a post last Wednesday read.
Blame Game
Blame the bots, blame the new users and above all keep singing the praises of a company with no fundamentals except a short squeeze that has collapsed.
DFV Unrealized Profits
Ashes to Ashes
GameStop is headed back to where it came from. There will be sucker bounces here and there but the company is broken.
DFV says he will hold.
He will do well as it’s reported he has $11 million in cash from other trades and options speculation.
But anyone who got in North of $100 following him is poised to take a huge loss.
Mish
This article, and the subsequent comments, aged like milk in the middle of sahara. Closing price 3/8/2021: 194.50
The idea is to break the hedge funds, not hold onto a stock in decline. Move on to the next highest short interest and hammer that. Holding GameStop is not a political statement…it’s a tool to ruin shorts
I’ve been watching their Reddit forum for weeks now.
Last night I was finally able to get into their Discord forum, and after observing Gen chat I can honestly say there is no freaking way I’d follow trade advice from these guys.
It’s a digitized keg party, a joke.
I wanted to like these guys, wanted to believe they stand for something and they have sustain, but not so much.
This is obviously a group of young millennials with absolutely no clue what they’re doing that worked in unison to attain short term win…..and now the secret’s out, they’re posting what should be “proprietary” strategy in plain view.
Countless posts proudly displaying screen shots of gargantuan losses, oblivious how vulnerable they are, literally broadcasting to any hedge fund that’s watching “Come take my money!”
For some, it’s a lot more interesting to achieve an immortality of sorts than it is to make even more money (he is sitting on $11M in cash although there are capital gains to worry about). Among that population, he’ll be remembered as a god.
Among sensible people, he’s the guy who left a hell of a lot of money on the table for very dubious reasons…but then……being a god is worth a lot to some people.
Are we absolutely sure he won’t face scrutiny from the SEC? If he takes no profit himself he should be in the clear then, right?
Price up by a factor of 10 in less than a month? What clearer indication of a bubble could you ask for? Sell, take your profits, pay the tax man, and be happy.
He put his millions of adoring YOLO’s and HODL’ers before his profits and his family’s future. Now, granted, he still has million of unrealized profits (the stock is at $100 as I write this), and he has his $11 million of cash (assuming he hasn’t thrown that into GME). But $33 million pre-tax plus the $11 million of cash is still $30 million or so. Woulda, Shoulda, Coulda.
was watching Mike Bloomberg. I agree with him, In two week nobody will be talking about Gamestop. Its a huge distraction.
I don’t follow Reddit all tha closely, but i suspect what the hedge funds really want i to scrape the data(chats) and use it to build algorithms. If they haven’t already
I gotta say, that smarted. Like Furry Horn Hat Guy, my adventure did not end well.
DFV would lie, would he.
“Even if that’s so”
Now why do you suppose he didn’t take his profits? Is this some kind of political statement? If if that’s so, I’d be more impressed if he sold the top.
He’s either just as stupid as he presents himself on Youtube, or he has other accounts where he protected himself.
I don’t claim any particular information, but I think I read that he recommended people sell enough to pay for their initial investment, and hold the rest.
His Youtube subscriber base has exploded from 10k to 445k (and growing) since his identity was revealed in The Wall Street Journal. While he may have lost >$20M from the peak, he’s still made close to $10M and expanded his Private Media Corporation by >1 Order of Magnitude.
Interesting business play.