Is anyone else following the Citron short seller vs WallStreetBets chaos?

Investing and Markets šŸ“ˆ
22

Ha. Larry summers even being asked about this on BBerg TV. Impact of social media on mkts and regulation. Amazing

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Lmao DFV just crossed into 8 figures today, I remember laughing at him for his position 18 months ago, how wrong I was. Cant wait to see his update in 2 mins.

Itā€™s bittersweet though, no way the sub survives this, every influx of subscribers on a subreddit reduces its quality and WSB has grown way too much recently. Maybe we get lucky and thereā€™s another 1r0nyman in the batch of new subscribers though.

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11 mil - crazy

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25

I feel for some people in America, they are playing a risky game, just because of Reddit, how scary is that, that stock was $4 dollars last summer

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Potentially not that much. If thereā€™s few people selling then the price can go up quickly, I assume thatā€™s how it works. You can see the volume increase in the last 2 weeks here, so it looks like $750M of shares have been trading in the last 2 weeks, compared to what would normally be $100M over the same timeframe:
https://marketchameleon.com/Overview/GME/StockChart/ThreeMonth?tech=volume

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$4 and staring down the barrel of a failing business model, only one of those things has changed.

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28

Behind all the :rocket: and :gem: :raised_back_of_hand:t2: nonsense there are serious investors on WSB. This guy seems to paint a very interesting opinion on the future of GME - https://www.reddit.com/r/wallstreetbets/comments/l2zk5e/a_hedge_fund_managers_perspective_on_gme/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
As always, do your own research and never blindly follow the crowd.

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Imagine being the management who run a company that has essentially become a meme of some nutters on the internet. What does his briefing to the board look like :joy:.

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30

I call it the Tesla pitch:

ahem

So we just got handed free capital by retail investors, anyone opposed to writing off the entirety of our debts and giving ourselves 2 years of runway for 10% dilution?

crickets

Nice, so what do you guys reckon Chiefs or Packers?

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Another good article including some info on how the guy behind the short selling isnā€™t squeaky clean.

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32

It got to $134 in premarket :see_no_evil:

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33

Ok ok okā€¦ people in wallstreetbets are going to start betraying the cause and cashing in soon! :joy:

Iā€™ve already turned Ā£5.15 in to Ā£8.43 and I was thinking of bailing (and getting a yacht and some tendies).

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I had a look at what tendies is. Itā€™s literally chicken strips :joy:

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35

Oh god what am I doing. Iā€™m so so sorry @Freetrade_Team - itā€™s not my goal to turn this place into WSB 2.0.

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https://www.reddit.com/r/CanaryWharfBets/

Anyone getting in on this $GME hype?

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Another one that may get crazy today is $AUPH, a biotech that was approved to start commercialising a drug to treat lupus nephritis. It was halted before the news went public Friday night and trading will resume at 7.10am (NASDAQ). Over the weekend analysts updated PT to more than 100% from halted price.

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39

Dude. Letā€™s not let the discriminatory language leak in here. It might work in the microcosm of the WSB subreddit which seems to have developed its own language (linguists should study that place) but it doesnā€™t seem cool here.

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40

Iā€™d like it if we had our own daily thread to celebrate :rocket: and vent in, and maybe keep the share chats more in depth. WSB fascinates me how they seem to suddenly find 50k down the back of a sofa and bet it all immediately. Itā€™s never happened to me :sob:.

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41

Donā€™t forget Robinhood offers margin accounts which is where the a lot of these guys are finding funds

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42

Yeh, we donā€™t use YOLO. We prefer FDā€™s.

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