So nobody buying this dip then? 
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420.69 
Interesting your account is only 40mins and already posting re meme stocks: GME
Even though I am a value investor the fuckery being played by the SEC, Retail Brokers and Wall St is shocking and needs to be protested against. On all m social media platforms I am seeing ānewly createdā accounts pop up weighing in on current events and spreading fake news. Sad state of affairs.
Respect to Freetrade for not getting political.
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Funny thing that raoring kitty aka deepf----ingvalue person who helped propel GME on reddit by showing his returns ā he invested in GME as a value stonk. he was in early!!
A ācigar buttā investment 
Iāve been reading this thread for a couple of weeks, Iāve been reading wallstreetbets for years and years, Iāve been involved in personal finance discussions online for more than a decade. As you get older it becomes less exciting to jump into conversations as soon as you see them. I have zero institutional involvement, and nothing to gain or lose from the fallout of GME[1]. Iām sharing my view because someone asked a question that I think I have an answer to that perhaps wouldnāt be given otherwise, youāre welcome to discredit me on the basis of my account being new if you like, I wonāt take offence.
[1] Actually, I stand to gain entertainment and insight from it transpiring there really was a grand conspiracy between Citadel et al. so Iād enjoy that happening but unfortunately Iām familiar enough with The Market to know thereās no reason to believe there is a conspiracy. Anybody who has worked in fintech (as I begrudgingly have) knows theyāre not āthe system but betterā but instead just a bunch of engineers frantically trying to understand the financial system and sellotaping a bunch of half-understood features to create āthe system but with with a nicer interfaceā. The idea that Robinhood had a system that had limitations (that is, they didnāt have enough cash and no planned mechanism to access cash as their cash needs grew) is so believable that Iād be blown away if it wasnāt true. The alternate story is that Robinhood had a system that was capable of supporting unprecedented market behaviour, that would blow my mind.
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This was obvious to people on WSB through December and early January and sure there were people pushing thousands into GME. Iām sure some of them made a lot of money if they sold last week. Youāre right it completely changed, most people still holding have 1/2 shares and are fighting a new battle and I think they are long past thinking about profits.
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I think itās worth noting that in large part wsb was actually a set of fairly sophisticated investors. If you look at the big meme stocks from 2017,2018: Tesla, AMD, JD.com, Micron they actually represented decent value back then. (I know now /r/wsb has a much more critical view of Tesla, but that wasnāt the case when it was undervalued)
The difference is wsb went to great lengths to appear stupid, even while indulging in intellectual snobbery mocking the financial illiteracy of other broader communities like /r/stocks /r/investing /r/bitcoin.
I canāt believe people were surprised that DFV held CFA, I wouldnāt be surprised if 10-20% of WSB were CFA or worked finance.
Like everything else that starts ironic, eventually you get sincere people joining, assuming they are among friends. Which of course wsb loved, because then they donāt need to crosspost from /r/stocks to laugh at people they can watch new members blow up their account with options strategies they donāt understand.
Until now of course, where itās gone so far that wsb looks like /r/bitcoin did in 2018 (HODL + conspiracy theories)
So for the above reasons Iām convinced most of WSB were the ones selling to the new membership. Further evidenced that it peaked just shy of the original $420 limit order meme.
Itās patently clear that for a sufficiently capitalised fund shorting gamestop was free money in the $1,2,300s (even if you needed to reserve a load of collateral). Once the people shorting at $5 and not holding $1,000 per share reserved were gone there wasnāt really much risk any more.
When we trade via Ftrade or Revolut, we trade via Drivewealth. They even had a trading app but changed the biz model to somethin more scalable like selling shovels and rails.
thereāre a lot of smart people on WSB and r/stocks and r/investing and r/ā¦ just having fun.
People who sit in banks trading other ppls money and use Bloombergs terminals for chat talk smack all the timeā¦
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Yes exactly and yet now you have conspiracies upvoted that anyone with a terminal can disprove in about 30 seconds. Itās a completely different audience now.
yall, I literally learnt about 23andMe going public via r/stocks, this is incredible. Itās my bloomie terminal except I dont have to pay $$$25k a year. Crowdsourcing! Internet! Memes? Stonks. Research
I noticed there s a lot of pumping with momentum strategies online like twitter and reddit, bewareā¦ Most of us wont know what we doingā¦
But seriously Citadel are the new Goldman Sachs vampire squid. They literally are in everythin. I read thru SEC and other filings and its sad. Wish we held stonks in Citadel?
I think the battle is mostly a red herring, itās more so about the community and the myth of the potential upside. People are bored and want to be a part of something, whether itās a battle against the shorts orā¦ literally anything, people will join in. The recipe is basically: some people get rich of something + a narrative about how other people can get rich in the same way.
GME was about The Short Squeeze, but it could have been about why bananas are superior to apples. If someone said they became rich off of bananas being superior to apples you can be sure that thereāll be people like us in a thread like this arguing the relative superiority of apples and bananas. The Short Squeeze narrative is more compelling than most because it hits on the wealth disparity, but that isnāt fundamental to the behaviour weāve seen.
I would bet that the majority of people still holding GME sincerely believe they will make a profit off of it, and they are enjoying being part of the community rallying around something.
A similar situation happened with MoviePass a few years ago, many people continued to shovel money in to MoviePass even when it was circling the drain simply because āā¦if I buy 100,000 shares and it hits $10/share again Iāll be richā¦ā even though there was no battle, no grand mission, and zero prospect of MoviePass surviving (let alone becoming worth anything)ā¦ but because some people had got rich, and it gave people a sense of community, people kept buying.
Iām not sure how true it is to say they were pretending. There is absolutely some very smart people in wsb but the make-up of the subreddit is misleading because of how reddit works. Reddit isnāt a forum like this with equality of posts, posts in wallstreetbets are as much about the person posting it and the cult of personality that comes from that ā thereās always some flavour of the month person who everyone follows blindly. Yes, people play a stupid character there but it doesnāt mean beneath that character is intelligence.
I think this argues the opposite of your point: most people in wallstreetbets lose money, and DFV ā a person with market smarts ā spent more than a year sharing well reasoned analysis of why GME was worth betting on and he barely got a sniff from the communityā¦ it wasnāt until very recently that anybody cared about GME, and not until GMEās behaviour started to validate DFVās analysis did people trust DFV. Iād think anybody in the finance world would look at the analysis from DFV and take an obvious position, but very few did.
Crypto is probably one of the best templates for this sort of activity, āpartnershipsā are my favourite goal post in crypto.
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Iām not so sure thatās always been the case, I think thatās what they like to upvote.
Right, but that was like late 2019, WSB was massive then and those posts barely surfaced and were just a screenshot of a position that didnāt contain a thesis (or it was on a comment with like 3 upvotes that no one even saw).
Even then the most upvoted comments on his early posts do at least make sensible points that the spread on the options he bought are insane - which is not a stupid observation.
I just think thereās a big difference between what you see (the image presented and the submissions upvoted) and the quiet majority voting, commenting and buying. Obviously Iām not suggesting they are all geniuses, but I donāt think the opposite is true either
If you look at the December GME surveys most of the value held by WSB was in small accounts with a few $k in shares, not the few whales with $100ks in LEAPs. I imagine these people were mostly selling in the run up as their position 10-20Xed
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Interesting chart comparison of the āorganic price movementā of the two stocks in the last 7 days.
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Thereās some interesting and honest reports from some posters on this thread in r/investing who bought into GME at various points. Most lost their money.
I hope this forum follows a different path to wsb and disallows shilling the stock of the day.
In a bubble this is particularly dangerous as lots of people make money on paper which encourages them and others to put more in till they lose it all in the inevitable but always unexpected crash. You can see this dynamic a few times in the reports on the reddit thread.
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Did he sell at the peak? Or is he holding? It confuses me because it says he made $270 million.