[HN Gopher] GameStop shares soar more than 100% amid executive s...
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GameStop shares soar more than 100% amid executive shuffle
Author : koolba
Score : 73 points
Date : 2021-02-24 21:10 UTC (1 hours ago)
(HTM) web link (www.cnbc.com)
(TXT) w3m dump (www.cnbc.com)
| undefined1 wrote:
| here we go again.
|
| "Tomorrow we'll be doing an upgrade to our systems. Buying in
| some stocks might be limited. Sorry for the inconvenience."
|
| https://twitter.com/TradeRobinhood/status/136469009363465011...
|
| edit: oops, that's a fake account! my bad.
| xyst wrote:
| all the homies hate robin hood
| xahrepap wrote:
| Looks like that's a troll account?
| https://twitter.com/RobinhoodApp is the verified account...
| shen wrote:
| Fake account.
| tyingq wrote:
| Is there a consensus of who will be holding the bag when all of
| this stops and it drops back down?
| endisneigh wrote:
| retail investors mainly - maybe likely some hedge funds on the
| wrong side of this as well.
| gvhst wrote:
| Now the Reddit website is down. Is this related?
| fleshdaddy wrote:
| It must be. Wall Street bets grew to 8 million users after this
| whole GameStop thing, up from 1 million. They all probably
| hopped on to see what's going on. Plus reddit is down more than
| any other website that popular that I know of.
| Jugglerofworlds wrote:
| Ironically old.reddit.com is working fine.
| SilasX wrote:
| Still waiting for one sense in which the redesign is better
| for the user.
| slig wrote:
| Has there been any case where a redesign of an app or
| website is actually better than the older version?
| koolba wrote:
| The new site is much better because it's so slow and user
| hostile you stop browsing Reddit entirely.
| imron wrote:
| Not ironic. Old.Reddit has always been fine.
| wongarsu wrote:
| old.reddit.com works. Probably an influx people checking
| /r/wallstreetbets. Reddit being overwhelmed for a couple
| minutes seems like a daily occurance since forever, but wsb is
| really pushing their capacity at times.
| thinkingemote wrote:
| > Probably an influx people checking /r/wallstreetbets.
|
| There's only 300K people reading that subreddit at the
| moment. During the peak earlier in the month it was over a
| million. (edits, refreshed 4 mins later and it's just under
| 500K).
|
| Also, for the conspiracy fans, notice that the majority of
| the rise (90 -> 199) has happened / is happening during post
| market hours when normal users (retail) cant do anything.
| 50->90 happened during normal trading hours.
| ericbarrett wrote:
| My guess is they have a "thundering herd" problem when a few
| critical threads get lots of traffic, and any workaround is
| still manual because it's delicate surgery. Pure speculation
| however, I've no inside knowledge.
| clarifier123 wrote:
| That's unlikely, reddit is down all the time. They definitely
| have the worst uptime of all the major websites.
| anm89 wrote:
| Woah, reddit, is indeed timing out for me as well.
| cdiamand wrote:
| I tried to determine this. And while I'm skeptical they brought
| the site down, there WAS a large uptick in comments on
| /r/wallstreetbets as the site went down. Still pulling in all
| the data from right before it went down.
|
| https://topstonks.com/blog/reddit-down
| Jimmc414 wrote:
| Yes.
|
| https://t.me/wallstreetbets
| Graffur wrote:
| Is there a web version of telegram?
| rjbwork wrote:
| Imagine you got fired from your company and the news made it
| double in value.
|
| Poor guy.
| castlecrasher2 wrote:
| The news was known before the surge; I don't think they're
| entirely related.
| vardaro wrote:
| He got something like a 30m severance. He'll live
| cbozeman wrote:
| This culture of rewarding failure really needs to end.
| defen wrote:
| 2.8 million. Still absurdly high for someone who did such a
| terrible job:
| https://twitter.com/DOMOCAPITAL/status/1364340405626671104
| vardaro wrote:
| Wow. I'm way off on my source. Thanks
| gremlinsinc wrote:
| I don't know.... Most people would blow through that in a
| week, two at the most. /s
| cvhashim wrote:
| Lifestyle creep dontcha know
| roland35 wrote:
| If the company he gets hired at immediately loses half of its
| value then I think we can say it was him for sure!
| Judgmentality wrote:
| You say this jokingly, but the last company he worked at lost
| 90% of its value while he was there.
| qaq wrote:
| Is he on Citadel payroll ?
| vmception wrote:
| Imagine not having sold any of your 225,000 shares and the
| stock price doubled the day after you got fired.
|
| What a guy! Grifting along to another $20,000,000 with no
| selling restrictions.
|
| edit: and several million cash severence
| thinkingemote wrote:
| It went from 44 to 91 and then in post market from 91 to a peak
| of 199 (currently at 150)
| viklove wrote:
| I had a limit sell order sitting at 210 from the insanity a few
| weeks ago, honestly glad it didn't get hit. The amusement I'm
| getting from having my stake is honestly worth what I paid by
| itself.
| secondcoming wrote:
| I sold at $60. Go me.
| redisman wrote:
| What did you buy at? This is pure gambling so doesn't really
| matter as long as you got something out
| aye01 wrote:
| this is straight bananas
| uberdru wrote:
| Reddit has zero impact on $GME volatility. If any of you were
| around for the 2009 shenanigans, you'll understand.
| kurikuri wrote:
| What does 2009 have to do with GME?
| A12-B wrote:
| I'm sorry I wasn't around, could you please explain why?
| vardaro wrote:
| Pretty sure he's clarifying that retail flow has negligible
| effects on the markets. Institutional money moves stocks,
| retail investors are just along for the ride.
| A12-B wrote:
| Not that I don't believe that, but where's the proof?
| witherk wrote:
| I'm not sure where these guys are getting their numbers,
| retail investors make up about 25% of the market. Not the
| dominant force, but also not exactly negligible.
|
| https://markets.businessinsider.com/news/stocks/retail-
| inves...
| nthitz wrote:
| I don't quite understand, the announcement about the executive
| was made on Tuesday, but this gain didn't happen until the final
| hour or two of trading today.
| WJW wrote:
| It's probably a mistake to read much into these things when it
| comes to Gamestop. It's not about the fundamentals, it's about
| when /r/wallstreetbets notices and is collectively feeling up
| for it.
| fleshdaddy wrote:
| I don't know it was definitely noticed when it happened and
| honestly I have a hard time believing it could be more hyped
| up than these last couple of days.
| cat199 wrote:
| wallstreetbets has been feeling up to it irrespective, and
| the mgmt change was definitely noticed there way earlier than
| near-close/after-hours, which is when the last ~$150 of the
| current $180 ticker gained..
| gct wrote:
| You have to grok how financial reporting works. They said
| _amid_ executive shuffle, not _because_.
| hahahahe wrote:
| Weekly option expiry. They waited until Thursday afternoon.
| Plus Ryan Cohen's tweet.
| travv0 wrote:
| I got pretty excited when you made me think it was Thursday
| afternoon.
| hikerclimber wrote:
| 50% of options trading is luck. robinhood is just to reduce risk.
| yibg wrote:
| AMC is started going up around the same time, although at a lower
| magnitude.
| iso1631 wrote:
| I like the stock
| burgerquizz wrote:
| i'm not a cat
| Judgmentality wrote:
| When I was a young boy in Bulgaria
| locusofself wrote:
| I got pretty lucky with this stock. Bought at 144, sold at 470 in
| the last rally. Bought back in at 45, sold at 69 today. Wish I
| set my limit sell to much higher, I didn't know it was going to
| rally so hard again.
| xyst wrote:
| paper handing at $69. should have gone with call options. more
| potential for gainz
|
| fyi 167 in the after hours
| locusofself wrote:
| totally. It was a limit sell from days ago, I was banking on
| some volatility but didn't think it would necessarily soar
| again.
| vmception wrote:
| the options are still too expensive. they are over half the
| price of buying the shares and they've been up to 90% of the
| share price.
|
| I actually love how the option spread sellers havent said
| anything and been flying under the radar but making the most
| week after week
| DevKoala wrote:
| It doesn't seem like this is the correct reason. I feel the
| recent short had more of an impact:
|
| https://old.reddit.com/r/wallstreetbets/comments/lrlmqx/14_m...
| spelunker wrote:
| Agreed. Lots of people will probably read "amid" == "because".
| vmception wrote:
| Okay that's beautiful
|
| Everytime they pass through the gate, they agitate an ancient
| populist fury
| EpicEng wrote:
| Yeah, definitely not because a CFO was ousted. Hit 200 AH and
| volume is insane.
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(page generated 2021-02-24 23:01 UTC)