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Bloomberg: How WallStreetBets Pushed GameStop Shares to the Moon


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Biden administration 'monitoring the situation' with GameStop's stock, White House says

 

White House press secretary Jen Psaki on Wednesday said Treasury Secretary Janet Yellen and others in the Biden administration are keeping an eye on the huge moves being made by GameStop GME, 116.85% and some other stocks. "Our economic team, including Secretary Yellen and others, are monitoring the situation. It's a good reminder, though, that the stock market isn't the only measure of the health of our economy," Psaki said.

 

 

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32 minutes ago, China said:

Biden administration 'monitoring the situation' with GameStop's stock, White House says

 

White House press secretary Jen Psaki on Wednesday said Treasury Secretary Janet Yellen and others in the Biden administration are keeping an eye on the huge moves being made by GameStop GME, 116.85% and some other stocks. "Our economic team, including Secretary Yellen and others, are monitoring the situation. It's a good reminder, though, that the stock market isn't the only measure of the health of our economy," Psaki said.

 

 

They should just leave this up to the SEC .. if some laws were violated, fine.  But there's no reason to suspect they were.

 

But I'm wondering when the other shoe drops, and GME eventually plummets back to Earth (which it will)), and the shorters who timed the fall right eventually make money, do the people left holding the bag cry foul.  

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4 hours ago, Fergasun said:

It was initially a $50k investment.  Guaranteed $14M... 

 

Where would you jump out of this rocket?  Most would have been out at $200k... 

 

From what I've seen, this stock is so heavily shorted that it should keep going up and up and until this whale ends it :ols: 

 

For me, I'd probably hold until Friday and see how much higher you can get it. $14M is a nice bit of generational wealth

Edited by Barry.Randolphe
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This is a goldmine.  Reddit is swept up in gold fever.  The democratization of the market via no-fee investing apps plus investment advice/culture spreading chaotically through social media platforms with no entry barriers is colliding with this sort of working class hopelessness and populist zeal for striking a blow against wealth inequality.

 

This feels dangerous.

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4 minutes ago, tshile said:

It says I don’t have access. Do you have to be logged in ?


Subreddit is down and the discord was banned. This is only going to pour more gasoline on this whole thing.

Just now, stevemcqueen1 said:

They set the subreddit to private.  I imagine they were getting deluged by shills and bystanders.


Its closed to everyone, even if you were a member. 

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