"Wolf of Wall Street" author Jordan Belfort discusses GameStop's stock surge and what it means for Wall Street investors.
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Jordan Belfort: GameStop frenzy a ‘modified pump and dump’
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If suits can do it why not regular people? What robinhood is doing is disgraceful.
Agrees
What exactly is robinhood doing? I wanna start trading some stocks by using that app
Yup. I’m very disappointed. If they can limit trading in whatever stock, they’re just another profiteering liar.
@eedleate delete the app
It’s not about the money, it’s abaut sending a message
Send in the clowns
I‘m Short..😘 Good luck
@Sam Williams We’re still going 🚀🚀🚀🚀🚀
@Stephane Sanan They had to close down because they couldn’t… They ain’t gonna buy it back. So regardless of the intent, its just a pump and dump now and whoever still has money in there is in for a world of hurt.
It might start out about sending a message, but eventually it will about the money.
He sounds like an east coast alley cat that smokes 2 packs a day
@Kris Frederick lol
I cant believe trump said this😂😂
https://youtu.be/9ZCXwIx_kMY
@Kris Frederick I cant believe trump said this😂😂
https://youtu.be/9ZCXwIx_kMY
😂😂😂
Sounds like Marge Simpson’s Sisters 👯♀️
Jordan is like you don’t have to mention my crimes
I cant believe trump said this😂😂
https://youtu.be/9ZCXwIx_kMY
@Emmanuel Rodriguez I cant believe trump said this😂😂
https://youtu.be/9ZCXwIx_kMY
💀
I know right. List every crime before making an introduction.
@lamonike msanii You guys are becoming quite sophisticated with your commentary set-ups.
I made like 10k in a week lol. Wait for the Nokia surge..
@Plus New I’ve doing bitcoin for like 5 years and one of the forums I follow was talking about this GameStop stuff so I just put some money in it on the off chance it went. I would just look up what they think the name “GameStop” is that they are going to push. A few of the rumors are up above. But it’s still a risk and you should never put money in that you aren’t ok with never seeing again
@V I do you think Bitcoin is still something worth getting in if you’re new to it?
@Plus New I wouldn’t right now. It just had a big spike so I’d think it will come down some in the near future. I would say go for it the next time it has a big drop in price though. I think it will have a giant boom in the next 2-5 years
@V I cool advice. I just need to do some more research on Bitcoin and investing in general. It’s so much information out there that it’s challenging to weed out incorrect stuff.
@Plus New exactly. And I’m no expert just throwing some basic advice out. And you can read yourself in circles with all the disinformation out there. I know I have lol. Good luck 🍻
Actually it’s a pump and pump again. HOLD THE LINE
@Johnny Bravo I cant believe trump said this😂😂
https://youtu.be/9ZCXwIx_kMY
@JimIBobIJones I cant believe trump said this😂😂
https://youtu.be/9ZCXwIx_kMY
PUMP AND PUMP🚀🚀🚀🚀🚀🚀
I hope you don’t have any real money in their if your planning on holding
I’m fucking holding onto these 3 shares with 😂✊💎 they ain’t getting my fucking stonks until all the big hedgies shorts expire! Hold the fucking line boys! Let’s show them the power of Diamond hands and get these tendies! 😂✊💎🚀🚀🚀🚀🚀🚀🚀🚀🚀
Um no it isn’t, the hedge funds borrowed money to short this stock over 100% of the available shares and got caught by regular Joe’s that figured out this and bought the stock knowing it would have to come back up because of the shorts (bets that the stock would go down when they were intentionally manipulating it to go down).
@Kikeordaz Martinez Are you even aware of what GameStop is? It’s largely a video game B&M (red flag #1) retailer that primarily made profit from used game sales (red flag #2). This company was already dying thanks to Amazon and Best Buy having better selection/service/prices, people switching over to digital from physical media, Sony creating a disc-less PlayStation 5 model, Microsoft offering older Xbox titles on their online subscription service, etc.
Add in Funko POPs being a fad and Covid fears gutting the preowned market, along with no real solutions offered by upper management to fix this, it was basically already in motion to become the next Blockbuster in 5-10 years.
Their stock price before reddit was what it actually was worth.
@J I still buy games there, many of us do. The fact is, hedge fund managers were massively undermining its value (Serious estimates calculate by 140%) compromising its existence even further. Some geeks detected the scheme and bet against those managers and did the exact opposite. How was that unfair or illegal in the world of financial speculation? None of the 2 positions reflect the true value, but I rather see Wall Street wolves lose than my Reddit fellow gamers.
@Kikeordaz Martinez Many people (used to) shop at K-mart, Sears, etc. too, but that doesn’t change how those companies were reporting lower sales/revenue year after year by losing out to retailers like Amazon and Walmart. GameStop is in the same boat, and this was the case long before the option to short-sell their stock appeared appealing to investors.
The company never had glowing reviews on service either within the online community, esp. on Reddit, where I remember subreddits discussing GameStop (transaction) horror stories and general dislike going back years.
@J What’s your point? I would be equally against Wall Street vultures attacking has beens like K-mart and Sears in the same manner that they went after Gamestop. This type of blatant manipulation by the big hedge funds should be illegal! I love to see the little guys, collectively, hit ’em where it hurts. Well done, WSB.
@Ron H Seeing that the point flew completely over your head, let me explain one more time: GameStop’s value has little to do with being shorted on the market, and more to do with the changing times.
Netflix/streaming killed Blockbuster, Amazon and big B&M chains killed small mom & pop stores, etc. GameStop has been, for the last 5 years, bleeding money and their stock value plummeting, with them doing little to innovate or diversify their business operations to survive.
Shorting 140% done all the time, totally fine and ethical. The poors who we won’t let bailout with 2k checks theft and greedy, gotcha!
Is weird seeing freeza care about the poor, but I agree the poor are getting fucked
I cant believe trump said this😂😂
https://youtu.be/9ZCXwIx_kMY
@The Lit Green Dude I cant believe trump said this😂😂
https://youtu.be/9ZCXwIx_kMY
So it’s totally ok for billionaire hedge funds to short sell and drive a company into the ground, but the moment those same hedge funds start losing money because of regular people trading, they shut it down. Eat the rich.
@Peter C you are naive.
@D Jaquith have you read the Reddit forums… you will see a whole lot of people saying “we have nothing to lose”. When you are a broke millennial, which most are, the couple thousand you got is literally nothing in a world where you have no hope of buying a house, paying off your student loan, or having a upwardly mobile secure career.
@Loretta Green .. You can also find millennials that are multi-millionaires. Anybody that reads social media and thinks that that’s reality deserves to lose everything because it’s not.
@amber crane except when you need that money when you have to decide between life-saving hospital operation and losing your home.
Whatch “the BIG SHORT”
This just goes to show you that all those “economic experts” are wrong about the economy.
Can any of them explain what money is? It’s more of a belief. Baseball cards, beanie babies, artwork, 17th century Holland tulips all valuable at one time……
@rpetzold MONEY BE GREEN – D’angelo Barksdale.
“Economic Experts” on tv are serving their own interests and agendas. It’s like this… imagine going on a jungle safari run by “Economic Experts”. But purposely being lead to a shack where bandits rob everyone. This is what they do. It is what they have always done. These trading firms aren’t the only ones that should face civil lawsuits, the Media should as well.
@Jubjub Tubs Hahah man the amount of people that think this is some populist uprising is hilarious.
You guys stuck it to Wall Street eh?
@K GM Why are you trying to play that weird Tribalism Game with your chosen dialogue?
Estimated 14+ billion lost by hedge funds that went to roughly 3+ million people. Wealth was moved away from the wealthy, using methods and tactics the wealthy themselves have used. Once that happened, well… we see how the wealthy and those with power are responding.
Dressing up the simple base narrative is an attempt to cloud people and sow discord. Why are you doing that?
This is so entertaining to watch. This needs to happen more often.
It will
I love watching rich people squirm.
It’s only bad when we poor people do it.
@Adam Favre No they drink from the fountain we can drink their piss !
I cant believe trump said this😂😂
https://youtu.be/9ZCXwIx_kMY
@Adam Favre I cant believe trump said this😂😂
https://youtu.be/9ZCXwIx_kMY
@Tuddec I cant believe trump said this😂😂
https://youtu.be/9ZCXwIx_kMY
@billy choate I cant believe trump said this😂😂
https://youtu.be/9ZCXwIx_kMY
OMG LOL.
Economy collapsed, because of the gaming industry crisis.
2021!
BEST COMMENT
They call it speculation when the short information is literally out there for the public to exploit. Big boys mad we beat them at their own game, now they’re taking their ball home.
Lol good they got fked
@The Italian Stalian I’m too late to enter but good keep it going fk them
Ho’s mad
The wealthy traders are losing at the “scam” game they created. Thus the “panic”. Watch how fast Congress responds.
Aren’t the Congress and wealthy traders the same people?
When man create a crazy casino someone start playing. The hole stock is now a circus.
I’m “stimulating the economy”
When you guys at Wall Street doing it, you said it’s all okay. When normal people doing it you accused it as pump and dump. Wolf Of Wall Street has taken a new meaning.
Basically it’s okay for the hedge fund ceo to do this but then call foul when someone else does.