The vast majority of us are outraged with no gun common sense control in this great country. I am looking to find like minded individuals to protest this weekend in Bellingham. We need to assemble this weekend to help release this built up frustration and in conjunction with the rest of the country's protest. The more details I hear how armed cops sat outside and did nothing but handcuffed parents from saving their children proves just how broken our system is. I have not been able to eat or sleep much and need to take action. We must let our politicians know that this is not acceptable. I cannot think of anything more despicable than letting teenage boys buy assault rifles and not take any accountability. Blaine HS was just shut down yesterday for a serious threat so this is also a local issue. Let us get to together and have our voices heard, this cannot go on. Someone with experience in this domain, just say when and where? I am not a manger type but will do what ever I can to exercise my rights. For Buffalo and Uvalde. Universal background checks and permanent ban for assault rifles for private citizens.
So many teens falsify their age and lie so they can have relationships with adults because they feel its cool. I remember back in hs seeing girls brag about how they got into a college party and fucked a bunch of guys. Then years later these girls will try to claim they were victims of child molestation and a bunch of crap. How tf do you lump yourself in with real victims? I just have zero respect for these types of ppl. Just because you are under 18 doesn’t mean you are unaware of your choices. If you were actually taken advantage of/molested that’s entirely different from choosing to have sex with adults. Especially if you are lying about your age. Yes I am aware that legally their consent is invalid. That still doesn’t mean they were abused. They are simply taking advantage of a flawed legal system. And before I get a bunch of ridiculous comments I am talking about teens, not kids. Teens in particular 15 and up. So please don’t mention young kids. Thats not what I am referring to. I already know some idiot is going to try to do that.
Hi everybody. I anticipate several posts from our sub popping up in the trending feed in the coming weeks. So, like many before me, I would like to offer a point of entry into our community.
We are a collection of retail investors who have all individually chosen to invest in GameStop stock. But we aren't just an investing subreddit. Instead, we have spent the last 16 months turning over rocks that confirm what many of you probably already suspect: Wall St. is filled with a bunch of crooks who have rigged the game in their favor. And as a warning: I am not a financial advisor and I would strongly encourage you to look at some of the Due Diligence (DD) done by members of this sub much smarter than I am. Even then, your decisions about where to invest or spend your money are yours alone.
Our journey starts with a major player in the stock market: the hedgefund Citadel Securities run by Kenneth Griffin. Citadel made a significant bet against GameStop in 2020 because they did not think the company would survive the pandemic and the increasing popularity of online shopping. This and of itself is not wrong or illegal and even made a lot of sense at the time. However, Citadel has a lot of power over the stock market as they are the ones responsible for executing a large percentage of all trades in the US. So, they cheated (and according to several findings from this sub, not for the first time).
The way in which they cheated is through something called short selling. Short selling is not an intuitive way to make money, but it isn't particularly complicated either. Let's say that I own a bunch of gold. Now imagine that you think the price of gold is about to go way down. So you offer me a deal. You will pay me $20, and I will let you borrow a 1 kilogram of 24-carat gold, but you must return to me 1 kilogram of 24-carat gold in 1 month. Importantly, even if I don't get the exact same kilo of gold back, at the end of the month I will have the same amount of gold that I started with plus $20.
Suppose now that your borrowed kilo of gold is currently worth $1000. You sell it the first day you get it. If the price of gold goes down to $500 by the time you have to return it, then you can buy it back for less than you sold it for. Your profit, in this case, would be $480 because you made $1000 - $20 fee - $500 for the gold you needed to return to me. That is short selling. As long as the price drops more than what you paid for a fee, you make money.
There is of course a risk. If you were wrong and the price of gold goes up to $1500, you still have to return the gold, even though it is now more expensive than when you sold it. In this case, you would lose $520. Importantly, while there is a minimum price ($0 per kilo), there is technically no maximum price for gold: even if it went to $1 billion per kilo, you would still have to buy it to return it to me.
This is the pickle Citadel put themselves into. They borrowed shares of GameStop expecting the price to go down, but instead, they skyrocketed. The price per share in late 2020 was less than 5$ and currently, GameStop is trading at $130. But it gets worse. Through processes more complicated than I fully understand (and the subject of many lengthy deep dives on this subreddit) Citadel sold more shares of GameStop than actually exist, an illegal practice called naked shorting. That means that to repay all that they borrowed, they would have to buy every single share of GameStop multiple times. And because Citadel HAS to buy those shares, anyone holding onto them could sell them for whatever price they want. Do you see where this is going? If you buy and hold GameStop, eventually Citadel will be forced to buy it from you for whatever price you want.
Now, you might be asking yourself: why hasn't this happened yet? Why hasn't GameStop shot up to $1 million per share? The answer is relatively simple: Citadel is still cheating. They have continued to sell shares of GameStop even though there aren't actually any left. This allows them to keep the price down (because selling a stock will lower its price) and kick the can down the road.
Can they do this forever? Theoretically, yes, but in reality no.
You see, GameStop didn't catch the eye of retail investors for no reason. There has been increasingly good news for the company over the past year which has put pressure on Citadel and made it difficult to keep up with the price. Here are just a few: Ryan Cohen is the chairman of the company. He is the man who built Chewy, a wildly successful pet supplies company. He is also the single largest individual shareholder of Apple (AAPL). He has pivoted the company onto a new and exciting path as a tech company. With the large price spike in January of 2021, GameStop was able to pay off all their debt (except for a small Covid relief loan in Europe) and currently has over $1 billion in cash on hand. With this, they have spent time improving their shipping infrastructure and broadening their inventory into all kinds of electronics including pc components, TVs, and more. Additionally, they have recently announced a new Layer 2 Ethereum wallet and upcoming NFT marketplace, a cutting-edge, multi-billion dollar industry. This isn't everything and people in the comments will be happy to tell you about other exciting aspects of the company.
So what's the takeaway? Well, in my opinion, I think buying at least one share of GameStop is totally worth it if you can afford it. If this subreddit is right, that share could be worth a fortune in a very short (pardon the pun) amount of time and the oppressive system which has squashed the poor and middle class for decades comes tumbling down. If we are wrong... at absolute worst, you might lose like $100. I know I have spent that $100 on worse things. But you should make your own decision. If nothing else, as you watch the economy reel, take a look at the GME stock ticker.
PS: One of the primary ways Citadel has been cheating is by selling people fake shares. If you want to make sure your shares are real, buy them through ComputerShare. When you buy shares through companies like Fidelity or Robinhood, they are held by that company in their name on your behalf. With Computershare, each stock is verified to be authentic and held in your name. You can even get them as official paper stock certificates if you want. There are some great and very simple guides on this sub that will walk you through how to do that and lots of great people here who will answer your questions.
Strive to be excellent to one another. Hope this helps.
I started the year off expecting a ~63% savings rate, but my energy stocks have been so good that I’m above 70% now. I could get into the mid-80% by years end! Family of 4 living on ~30k/year, in 2020 new construction with a 2.625% interest rate.
Only downside is I don’t feel like its smart to brag this to work colleagues and havent made any friends since moving to this town 1.5 years ago so here I am posting.
but could Ethan just please stop interrupting Hasan. It makes leftovers so hard to watch. pls with peace and love I can't be the only that sees this
I know I should probably just down vote and move on. But I don't understand why people don't do their own research. I know bikes are confusing but surely you have some idea of what you are trying to purchase?
Do people not realise that used bike prices vary city to city and even month to month in the same place especially in this climate?
Also, what's the point of asking reddit? If it's the only decent used bike for sale in your area it probably is overpriced. Reddit telling you that won't change anything.