The Wall Street Bets phenomenon is changing markets

More funny business?

A US deli with less than $14,000 in sales is worth more than $100m

'Strange things' are happening to all kinds of stocks, says Greenlight Capital president David Einhorn

A delicatessen that generated less than $14,000 in sales from a single site last year but which has a market capitalisation of more than $100 million has been highlighted by the head of a $1.6bn hedge fund as an example of the lack of oversight of US markets.

Hometown International owns the Your Hometown Deli store in Paulsboro, New Jersey, which was closed for six months last year due to Covid-19 restrictions but has only generated $35,748 in sales over its last two years of trading. Despite this, it had a market cap of $113 million on February 8, David Einhorn of Greenlight Capital said in a letter to investors.

"The largest shareholder is also the CEO/CFO/Treasurer and a director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing," Mr Einhorn said.

 

GME is $164 and still plenty shorts need to cover at massive losses.
It's just rediit kids, there's big names on the long side, still holding for nice $$.

Hometown International has more revenue and profit than dot coms that were worth billions lol.

 

It's volatile as hell I went to buy a far otm Put on it the other day (just one, they are expensive) and the premiums were massive, much higher than what you would normally pay for something that far out of the money. So I didn't bother.

 

Why buy when you can sell?

 

Because the loss would be huge if it plummets back to what it was a few months ago.
I´d only sell if confident it would stay at high levels which I´m not.

 

Sell calls then.

 

Also huge exposure to loss if there is another short squeeze. Or could cover it but then exposed on the downside.

Maybe a strategy like a bear call credit spread could work after the stock has risen, but profit limited in the event of a real plunge.

 

Gold has been forming a large base. Something to watch, as well as resources in general:

 

Wrong thread, sorry.

 

The Simpsons

 

Tyro has come back strongly

 

Yes nice, bought some near the lows couple of months ago

 

GME hit $254 and is at $222 today.
The short squeeze is still on but the big $$$ keep it out of the media.
Paying for negative stories about GME and the evil manipulation by sharing what you buy or sell media stories backfired.
GME is still the main squeeze

 

I bought July puts on GME and AMC last week, will be interesting to see what happens this week, I don't believe they can stay up for very long.

 

Day Trader Army Loses All the Money It Made in Meme-Stock Era

A craze born of the coronavirus outbreak and nurtured by Federal Reserve largesse is being laid low by a villain of identical lineage, inflation, which global central banks are racing to combat by raising the same interest rates they cut. The result has been a lumbering bear market in speculative companies that surged when the stimulus started flowing in March 2020.

It’s an epic fall from 2021, when at-home traders shot to fame after banding together on WallStreetBets forums to try to squeeze professional investors out of short positions and otherwise overthrow the Wall Street order. Retail investors accounted for roughly 24% of the total stock trading at one point, according to an estimate from Bloomberg Intelligence. Their influence made Reddit blogs and Stocktwits posts must-read material for anyone gathering intel on markets.

Source: Day Trader Army Loses All the Money It Made in Meme-Stock Era

 

A nice lottery ticket ...

University student makes $110mn trading meme stock favourite Bed Bath & Beyond

A 20-year-old university student has made a roughly $110mn gain by selling a stake in struggling retailer Bed Bath & Beyond, after its stock price soared during a month of frenzied trading reminiscent of last year’s meme stock boom.

From: Subscribe to read | Financial Times

 

He bought 5 million shares at around $5.... yep just a student.

 

Rookie Traders Are Calling It Quits, and Their Families Are Thrilled

Some novices who took up trading during the pandemic are abandoning the hobby. Their loved ones are breathing a sigh of relief.

Spouses, parents and other family members who were subjected to one too many play-by-plays of market movements say they are happy to have their loved ones back—and equally glad they no longer have to hear about buzzy stocks or cryptocurrencies.

From: Rookie Traders Are Calling It Quits, and Their Families Are Thrilled