https://www.cnbc.com/2021/02/09/gamestop-br...-to-an-end.html - 2021/02/09/gamestop-breaks-below-50-a-share-as-short-squeeze-comes-to-an-end
"GameStop, the poster child of a recent speculative retail trading frenzy, tumbled below $50 apiece on Tuesday, as the massive short squeeze took effect and investors booked profits.

The brick-and-mortar video game retailer fell more than 20% to a session low of $46.52 a share on Tuesday, following an 80% drop last week for its worst weekly performance ever. GameStop closed Tuesday’s session 16.2% lower at $50.31.

At its all-time high on Jan. 28, the stock was going for $483 a share."
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"Short interest in GameStop as a percentage of shares available for trading dropped to about 50% Friday from more than 130% two weeks ago, according to data from S3 Partners. So most of the short bets have been covered and there isn’t any significant force from short sellers to keep fueling the squeeze.

Trading volume also fell sharply this week as the retail momentum slowed down.

Some on Wall Street compare GameStop’s short squeeze to Volkswagen’s in 2008 when the German automaker briefly became the biggest company in the world."
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"Other stocks that have seen heightened speculative trading activities are also unwinding. AMC Entertainment has fallen 20% this week following a 48% decline last week. Koss has dropped 11% this week and 68% in the prior week.

Wall Street breathed a sigh of relief as the frenzy turned out to be limited within a handful of names and seemed to have died down. Many had been worried that it could spill over to other areas of the market and have a more negative impact on investor confidence.

“We know financial conditions are supportive and investors have gotten more enthusiastic. ... But this does not mean the stock market is in a speculative bubble,” Kristina Hooper, chief global market strategist at Invesco, said."
???
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This post has been edited by lurkingaround: Feb 10 2021, 12:29 PM

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Today - Friday, 12 Feb 2021 NY time, GME/Gamestop share price closed at US$52.40, from its yesterday's close of US$51.10 = no surge in price because of Melvin Capital/HFs needing to close its/their short-selling positions.

I see this as BIG Shark manipulators, eg HF and MF, fixing the price at around US$50 per share, so that they can still sell their US$5 GME shares bought a few months ago, to remaining gullible Retail investors at US$50 = a 1,000% profit, eg those Gamestonk Retail investors hoping for a 2nd short-squeeze or for a wild exuberant Tesla/Bitcoin-like rally towards US$1,000 per GME share.
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Not as simple as that, there are 3 different hedge fund groups doing different things. Its not just one hedge fund group doing the action. Either way. mainstream investors do stay out if cannot stomach the big swings

Im surprised this thread is still alive.

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Looks like, the Gamers got gamed by Hedge-funds/Mutual-funds, who are laughing all their way to the banks.

GME/Gamestop share price closed today at about US$40, from its previous close of about US$45.

In the Free Markets of democratic countries, it's mostly Caveat Emptor or Buyers Beware.! ... = not a nanny-state. There is no cure for Retail investors' foolishness/stupidity and gullibleness = "survival of the smartest/fittest and death of the dumbest/weakest".
....... Communist countries or nanny-states tend to keep their dumbest/weakest people around = a drag on society and the economy, eg NKorea.
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but did those hedge fund able to close their short position? meaning average sell is higher than their average buy?

Like I said you are looking at it the wrong way. There are many hedge funds not just one or two. Hedge Fund Group A are holding the stocks. They are the one who bought and hold long time ago. Then there's Hedge Fund Group B, these are the ones that short GME from $20 to $5 hoping that GME will go bankrupt. Then there's Hedge Fund Group C that started shorting from the highs of $300 to now.

The problem is Hedge Fund B claimed that they already closed out their positions which many suspects is not true because the volumes traded didnt commensurate with their claims. Then there's also Hedge Fund C who has to eventually close their positions. The question is, are there enough shares outstanding to close their positions or not? Remember the short interest was more than 100+% at the peak of the GME frenzy. Likely Hedge Fund A are lending their shares for them to short, eventually they have to unwind their positions to close the trade. Also remember the borrowing cost to short the shares are high for Hedge Fund C so every day they are shorting is everyday they are bleeding cash in the open position.

My personal take is, Hedge Fund A are very happy sitting in their position right now, they can watch B and C bleeding day by day, until they close their positions to maximise their returns. There is no collusion afaik, at the end of the day, its all about maximization of profits.

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Not forgetting the millions of gullible Retail investors influenced by Gamestonkers and HODLers like #DeepFuckingValue at r/Wallstreetbets to buy Gamestop/GME shares at US$100, US$200, US$300 and US$400 from 26-29 Jan 2021, in order to supposedly "short-squeeze" certain Hedge-funds and hoping the share price would shoot to the moon to >US$1,000 through their collective buying of pumped-up GME shares.
....... Turns out, those loser Retail investors likely got scammed since GME share price closed today at US$40 and has been heading downwards since 1 Feb 2021(= was at about US$300 then). At the then GME share price of US$300, some HF/MF and smart Retail investors shorted the share and are now cashing in their profits. These are likely true facts. What you said are likely not based on true facts, ie are just hearsay or rumours. .......

https://www.wsj.com/livecoverage/gamestop-s...eddit-robinhood - Lawmaker Cites Salvador Vergara’s Losses - 11 hours ago
"Rep. Jim Himes (D., Conn.) cited the trading losses of Salvador Vergara during Thursday's congressional hearing. The Wall Street Journal reported that Mr. Vergara was so enthusiastic about GameStop Corp. shares that he took out a $20,000 personal loan and used it to buy shares. He now faces big losses as the stock plunged.

Many individual investors said that they piled into GameStop shares to see professional investors deal with losses. But Mr. Vergara’s losses highlight the difficulty in determining winners and losers of the GameStop mania. Not all retail investors notched big gains, and not all institutional investors dealt with losses."

It was anonymous DFV aka Keith Gill who impersonated as an ordinary Retail investor on Reddit, who also hyped the short-queeze of Hedge-funds who had held large short-positions on GME shares in early Jan 2021. This caused many gullible Retail investors to pile into GME shares at >US$100 prices at end Jan 2021 and became losers/suckers as above.
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20k is big losses? Okay...

Meanwhile Melvin capital lost 8 BILLION or half of their company in January. Isn't a big loss ya? LOL..

Mind you, they still haven't fully exited their short position yet.

How high is the borrowing cost now? Last i checked it dropped to less than 2% p.a.

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Melvin Capital is a profit-based HF. You believe in them saying they lost US$8 billion in Jan 2021.? I'll only believe it when I see their Annual Financial Report showing such a loss.

Let's conservatively say, US$20,000 X 10 million gullible Retail investors around the world like yourself = US$200 billion of profits for the HF/MF. There was a screenshot here showing someone lost his life savings of US$140,000 in this GME fiasco.
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So you dont believe in Melvin Capital that they lost $8 billion but believed that they close their position? LOL

I am a sceptic like you, I also sceptical that Melvin closed all their positions back in end of January, I will believe that when there is data

But getting bailed out by a bigger hedge fund is certainly not a good sign

Also Melvin is ikan bilis hedge fund in the grand scheme of things

Mainstream investors are planktons

You without any position, erm can I say you are the suckers tagging along with sharks? Or are you a bottom feeder fish that feeds on shit?

Yes went up to as high as 30%+, now at 2% p.a. may be small but in a low interest rate environment it still adds up. Also whatever high interest that they have paid, when they closed their position, they better make sure they make all of that back and more.

He worship financial medias, whatever is said in CNBC, Bloomberg, Fox News is the truth for him

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There are many hearsays or rumors going around. .......

https://www.wsj.com/livecoverage/gamestop-s...eddit-robinhood
Melvin's Plotkin: Options Trading Drove GameStop's Stock
By Gunjan Banerji - 12 hours ago

Melvin Capital's Gabe Plotkin said that options activity appeared to be a bigger driver of GameStop Corp.'s wild stock moves than short covering.

Options trading tied to GameStop hit a high during the recent frenzy, and many said that hedging activity tied to the stock on behalf of options dealers helped stoke volatility in its shares.

"I really think the biggest driver was the aggressive options activity," said Mr. Plotkin.

Bearish bets tied to GameStop have dwindled since the start of the year, data from IHS Markit shows.
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What you mentioned about Melvin Capital may be a scripted scenario to bait and trap gullible Retail investors, like the acting in a scripted movie or TV show - typical of pump-and-dump schemes. Did you believe also in the Ponzi scheme of Bernie Madoff or in the Nigerian Prince inheritance Internet scams.?
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This post has been edited by lurkingaround: Feb 19 2021, 07:12 PM

lmaooo.. do you even know how to do maths??

20k in GME stocks, even at their highest ever price of 400USD per share will get you 50 shares of GME stock. If 10 million retarded retail investors bought 50 shares at 400USD per share, that is equivalent of 50million shares being held.

Problem is, there are only 45million shares available.. even less than that considering long term holders and the majority of people certainly didn't invest into GME at the highest price but instead, around 20-100 price range.

So how the fuck did you arrive at your stupid assumptions and figures? LOL



worship is one thing. Not making any sense in his posts is another. LOL..

This post has been edited by Liamness: Feb 19 2021, 07:27 PM

I never believed in anything unless I done my due diligence. So why should I believed in what Melvin capital is saying and why should you believe it too?

They haven't fully covered their positions. There's so much DD in GME right now, it's the most researched stock on the market.

Just google anything about it and a very technical analysis on GME can be had for free.

LOL if 10 million investors bought at 400 at 20k each, ATH would not be 400 already LOL

Tell that to lurking around who only get his DD from CNBC, Foxnews, Bloomberg and from Melvin Capital itself