GameStop shares drop as Reddit traders jump to drug developers

Hanno Labuschagne

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GameStop shares drop as Reddit traders jump to drug developers

GameStop Corp. shares fell for a third day in four as retail traders flocked to other corners of the stock market such as small drug developers.

The video-game retailer sank 9% to $84 at 9:37 a.m. in New York as trading volume continued to dry up.

Dwindling demand for companies that had drawn attention from day traders was also apparent for headphone maker Koss Corp. and apparel retailer Express Inc. which had skyrocketed over recent weeks.

[Bloomberg]
 

Sapphiron

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According to the trading volumes data many people are tracking, the stocked is still heavily shorted and the redditors are not selling.

It's just the hedgefunds selling to eachother in a ladder attack to drive down the price.
 

cguy

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$51 now. I wonder how many redditors bought it north of that?
 

cguy

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According to the trading volumes data many people are tracking, the stocked is still heavily shorted and the redditors are not selling.

It's just the hedgefunds selling to eachother in a ladder attack to drive down the price.
I don’t know how that would work given that for every sell there’s a buy.
 

Easter Bunny

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According to the trading volumes data many people are tracking, the stocked is still heavily shorted and the redditors are not selling.

It's just the hedgefunds selling to eachother in a ladder attack to drive down the price.
that doesn't sound like market manipulation at all. nope. not even a little. uh-uh. nope.
 

Juice

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I don’t know how that would work given that for every sell there’s a buy.
Yup. One hedge fund sells at a low price. Another hedge fund buys at the low price. That second hedge fund sells it back to the first hedge fund at a low price. It's called a "short ladder attack" and creates an artificial notion that the price is falling to intimidate retail investors into selling or to trigger stop-losses. There's also been a concerted and massive misinformation campaign fielded by hedge funds to get WSB to open their diamond hands. GME stock is still shorted by more than the available float, which means that hedge funds can't buy the shares they borrowed and can't close their short positions in the black.
 

cguy

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Yup. One hedge fund sells at a low price. Another hedge fund buys at the low price. That second hedge fund sells it back to the first hedge fund at a low price. It's called a "short ladder attack" and creates an artificial notion that the price is falling to intimidate retail investors into selling or to trigger stop-losses. There's also been a concerted and massive misinformation campaign fielded by hedge funds to get WSB to open their diamond hands. GME stock is still shorted by more than the available float, which means that hedge funds can't buy the shares they borrowed and can't close their short positions in the black.
You can only sell to the best possible bidder, so what is this “low” price? If the hedge funds continuously buy and then sell, they’re paying the spread each time as well as fees. How is this a false notion of price when participants are willing to sell it at that price?
 

SilverCode

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Yup. One hedge fund sells at a low price. Another hedge fund buys at the low price. That second hedge fund sells it back to the first hedge fund at a low price. It's called a "short ladder attack" and creates an artificial notion that the price is falling to intimidate retail investors into selling or to trigger stop-losses. There's also been a concerted and massive misinformation campaign fielded by hedge funds to get WSB to open their diamond hands. GME stock is still shorted by more than the available float, which means that hedge funds can't buy the shares they borrowed and can't close their short positions in the black.
That ... doesn't work. You don't get to choose who you buy from and and what price. You place an order with the exchange saying I want to buy the shares at R10, even though the share is trading at R20. Your order will only be filled once all orders in-between are filled and the actual share price is really R10.

https://www.reddit.com/r/investing/comments/lbib0x
 

Nereus77

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I don't buy it. Everything I have seen points to redditors still holding onto their shares. I'm sorry MyBB, you're going to show your work for this.

When talking about reddit, you really have to go to reddit to find the answer. Reddit is still holding onto their shares and you can tell simply by keeping an eye on the r/wallstreetbets subreddit.

They are literally not worried about anything else at the moment as you can see below.

1612530112410.png

Meme stocks are the BANG gang:

BB
AMC
NOK
GME

Anything else is... misdirection, essentially. Well, like I said, you need to show your work for this article.

They are not interested in silver. They are not interested in other shares at the moment other than those listed above.
 
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