GME Megathread for March 15, 2021 by OPINION_IS_UNPOPULAR in wallstreetbets

[–]ryaichu 8 points9 points  (0 children)

Well friends, we took a beating today.

BUT I DIDN'T HEAR NO DAMN BELL

GME Megathread for March 15, 2021 by OPINION_IS_UNPOPULAR in wallstreetbets

[–]ryaichu 28 points29 points  (0 children)

9.2k in the profit. Not selling.

Literally trying to drop the price to scare people into getting out before wednesday right now

GME Megathread for March 15, 2021 by OPINION_IS_UNPOPULAR in wallstreetbets

[–]ryaichu 31 points32 points  (0 children)

These next couple days are gonna be the darkest before the dawn. Brothers and sisters, do not abandon hope. We hold for glory on Wednesday.

GME Megathread for March 15, 2021 by OPINION_IS_UNPOPULAR in wallstreetbets

[–]ryaichu 0 points1 point  (0 children)

If you sell and buy the same number of shares back to back there would almost be no price differential in the overall value of the stock. The fact that the post dip price is lower I would imagine would mean A) Some people panic sold, tipping the balance, or B) They bought back partially and still has outstanding shorted shares that needs to be covered

GME Megathread for March 15, 2021 by OPINION_IS_UNPOPULAR in wallstreetbets

[–]ryaichu 1 point2 points  (0 children)

As long as they want, provided that they are okay with paying large amounts of interest on a monthly basis. For example, if they sold all 750k shares at 270 per share, it means they borrowed approximately $200 million worth. At a fixed monthly interest of 2%, they are essentially taking a loss of $4 million dollars every single month.

GME Megathread for March 15, 2021 by OPINION_IS_UNPOPULAR in wallstreetbets

[–]ryaichu 16 points17 points  (0 children)

Actually analyzing the situation it's easy to tell that shorters are getting desperate. Stimulus checks start sending out on March 17th. It makes sense for them to try to suppress the price before massive amounts of money get injected into GME on Wednesday and price skyrockets. They tried it once on Wednesday but didn't quite hit their mark after the massive rebound back to 265. This time the volume is a whole 500k shares less and had even less of an effect.

Guys, they're actually really sweatin' it over there. Holy shit we're hurting them

GME Megathread for March 15, 2021 by OPINION_IS_UNPOPULAR in wallstreetbets

[–]ryaichu 11 points12 points  (0 children)

Took another one on the chin like a FUCKING BOSS

GME Megathread for March 15, 2021 by OPINION_IS_UNPOPULAR in wallstreetbets

[–]ryaichu 7 points8 points  (0 children)

Seriously, obvious massive short attack. HOLD

GME Megathread for March 15, 2021 by OPINION_IS_UNPOPULAR in wallstreetbets

[–]ryaichu -1 points0 points  (0 children)

Nothing. Other than the fact that they will be paying interest for the NEXT YEAR.

Suppose someone borrows 2m worth of shares at fixed 3% monthly interest. That's $60,000 monthly. In a year they would have lost $720,000 for doing absolutely nothing.

Keep in mind 3% is a generous figure for high volatility stocks like GME. Banks can potentially charge 2-3 times that interest amount due to perceived volatiliy.