GameStop: What if they’re right? A question for Freetrade

There’s a lot of Bloomberg screenshots here:-

It does say over 100% of floated shares are owned… I don’t understand it all so who knows

More than 100% will be owned. 100% would be owned by someone even if there were none shorted

I can’t see where the 200% figure comes from

The screenshot in that thread has short interest at 18%

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From Finra figures. This is only the top 10 ownership. GME has been rehypothecated highly, its quite clear from this alone.

This doesn’t even account for retail who own a large number of shares as well.

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192% ownership amongst top 10 only. Doesn’t include retail numbers or everyone outside the top 10.

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Screenshot and link here

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How does that chart make sense? The 10 numbers don’t add up to 192%
20.25
15.5
13.26
13.26
13.18
12.87
7.38
7.22
7.22
6.66
total 116

Now I have read the whole article it isn’t the top 10 only :+1: It says further down the article

“Note that this is the total amount of institutions owning the stock with more than a certain percentage. It is not only the top 10 institutions. This is why the numbers above the sum don’t add up.”

If this does happen just sell fracture shares. - problem solved.

My own believe is that it will never reach the 25k. And that will not happen due to greed.

When the price stars going up people will be selling at 250, 500, 750, 1k, 2k, 5k ect. Which would slow the progress.

If everyone holds the stock! Ofc it has no issue of reaching 25k or more. But the problem with this 25k stands with human pscyhology…

People will be selling at profit for sure which bump the price down.

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I don’t know for sure but I suspect there are duplicates in that list. notice there’s FMR inc. and right below it Fidelity Management and research with exactly the same number right down to the last share.

Anyway we’ll see how it plays out. I suspect it will come to nothing.

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It’s pointless asking this question here, the FT forums seem to be awash with people that dismiss GME as stupid.

There are lots here that for some reason are against the limit being raised or flat out say we should be happy to sell for less as we still make money.
(Who the hell thinks like that on a platform that is about making money)

This transaction limit has potential to affect more than just GME (PREM and KOD), if other stocks raise where people own millions of shares they will be met with the same issue.

You will get “well FT doesn’t really want day traders”, i say what the hell does that have to do with anything?, GME isn’t a day trade, it’s a trade where people found out there was massive over shorting on a company and invested knowing it would go up.

There are too many apologists on these boards that are more than happy to dismiss legitimate concerns people have about being able to trade Freely (or Freetrade if you will), thankfully the team are looking into this as some others might have just left the rabid fan base take care of people with concerns.

I would rather FT had a plan in place rather than saying we’ll see when it’s happening, i have 173 shares and fully expect to lose money due to trading on this platform.

I have asked the team about transferring to another broker but was told i would have to sell shares in my isa and rebuy them (i have an avg of $78 a share for GME) it would be insanity for me to rebuy now)
This is their reply:-

I have £44,000 in there spread through various etfs(hopefully this will appease the investor crazies on the forums) , lithium plays, green energy and yes the forums dreaded GME. I would need to sell it all, and rebuy and take weeks having it all tied up whilst GME plays out.

When this is over depending how much money this arbitrary restriction costs me, i can safely say FT will not be getting my next 20k .

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I read through your post and can not see what question you are asking. It seems you purchased shares of GameStop for $78 average, so you have unrealised gains of just over 100% and you want to make sure there is a plan incase the $78 shares go to $15,000 / $25,000+ per share?

173 shares would provide you with $4,325,000 and yes that would be awkward to sell out of.

What are Freetrade restricting you from doing right now?

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Not a question, a reply/statement to the op on why posting about GME and FT seems pointless.

Regarding my shares and expectations, i stated the transaction cap is the problem as with several plays I’m in atm i have very real potential of passing that cap and having to faff about with selling in blocks.

Whether or not GME does go to 25k per share is beside the point as are the gains I’ve made so far ( I’m in the market to make money not sell when it’s set to go higher because i should be happy with some money)

Simply put, I don’t see why there is a transaction cap when people if they are seriously investing capital can purchase shares that have very real potential to shoot past it.

I’m just sorry when i signed up I didn’t see the transaction limit, i would have carried on looking.

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For the millionth time people are NOT saying there should be a limit!!! People have said that it won’t get to that and I have not seen anyone that doesn’t hope the GME buyer win big so I think you are miss-leading in your comments.

You are correct in that GME is not a daytrader thing but if you are seriously thinking that FT won’t have time to react to change the limit then you are talking about day trading as it would be very quick. FT will be in constant touch with the market and see any spikes. This is why it is a massive over-panicking issue.

Now if you believe the spike will be so quick that they won’t have time to react then I have bad news for you the limit will not be the barrier as in that min or so the system will probably crash and no orders go through.

The whole 25k limit is not in place to prevent GME buying/selling as it seems to be believed but a business model that will cover fraud, insurance and many things we won’t even comprehend. I fully trust FT do it for the sensible reasons and don’t change a business model on a fantasy they can react to live. :+1:

In short if people are panicking that much about missing the boat to become rich in such a short window that FT can’t react then why are they on "Free"trade and not a day trade or expensive broker that caters to this?

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Exactly, they think they are gonna make millions but chose a broker based on free commission and then decided they didn’t like that brokers limits.

For the record I do have a fraction of a GME share, so I’d be very happy if it went to £25K per share. but more likely it will just sit there as a reminder that even after years of investing I’m not immune from doing something stupid :laughing:

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I’m just a bit jealous because I saw the GME price rising on the 25th and thought “Oh, this will be fun to watch” rather than sticking in a few quid to see what happened. I spotted it when it went from 6% to 10% up for the day, then laughing when it was up 40% and then a bit regretful at 65% up. And obviously it came down a bit and went up even higher the next day.

But rationally, I didn’t do it because I was expecting it to continue its return back down to $40 or so.

I agree with this thread’s sentiment.

I think freetrade should remove the limits if this becomes a possibility. I’m also pondering what folks on this forum consider as an “investment”. To me an investment garners (hopefully) a return in which a person is REQUIRED to trade to make the investment. Time is really of no consequence. Moreover, GME has now been squeezing, IMO, for months and will continue to squeeze untill it has squoze. Would any of the people whom relegate a GME investment that’s held for months as a “non-investment”? Like a daytrade? Because at these time lengths of holding the stock, I personally do not feel that it cannot be qualified as an investment.

Due to the fact that the data states about the institutional investment in GME and the deep in the money calls to obscure the true short positions of GME shorts, I believe that the sqeeze will be the largest in history, due to the exposure of some very very heavy hitters.

edit: to those holding a substantial amount of GME shares and are being advised that when you want to sell your shares you have to sell them bit-part - LOL - good luck with that if it squeezes.

institutional ownership over 100% says otherwise IMO.

The data is showing deep in the money calls which obscure the short positions.

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Can you explain how deep in the money calls obscure short positions?

a Call is a long position, sure someone sold them but deep in the money calls on a volatile stock are expensive, premiums are very high on volatile stocks. Whoever sold them already made a lot of money.

Do we know if they were naked calls? If the sellers hold GME shares they aren’t at risk from s short squeeze.

DD

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I haven’t got time to read and make sense of all that, but I’ll assume they know what they’re on about and it’s correct.

I still think it’s highly unlikely that a bunch of redditors are going to beat the hedge funds on this. I hope they do because if they do I’ll make a profit on my fraction :smiley:

I guess what I’m saying is don’t bet your house on it, by all means take a punt with money you can afford to lose

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