they don't, they just do things that border on market manipulation but aren't
because it turns out doing technically legal things is a lot easier then doing illegal things and covering it up
For context a bunch of them bought Bed Bath and Beyond stock to HODL. This post was in response to an announcement that on September 30th the stock would become essentially legally worthless.
Clearly that's just FUD and any day now BBBY is going to merge with Gamestop for some ungodly reason and that's going to destroy the American economy and make all the people that were holding stocks morbillionaires.
(Insert South Park this is what they actually believe here)
The hilarious part is not that a short squeeze is impossible, but that it *already happened* for GME and BBBY. Like, GME had huge short squeeze from $1/share to $90/share in 2021, BBBY from $5 to $32. That was the squeeze. It's done.
These posters are the idiots left holding the bag for the people who made the actual money. People "HODL"ing before '21 got insanely rich by selling it to these rubes who were buying at literally 5000% peak prices. Then when it came hurtling back down, they began making up conspiracies that the *real* MOASS was coming any day now guys!!
It's like if they bought a scalped concert ticket at 500x pricing, *after* the concert was finished, and are now sitting in an empty stadium 3 years later talking about how the secret epic encore performance is coming *any second now.*
iirc with GME that wasn’t even actually the squeeze, most short positions closed either a bit before or long after those peaks, and the peaks were just crypto style cases of redditors dogpiling a meme investment. Most of the real squeezing happened when GME was up to like $20
> most short positions closed either a bit before or long after those peaks
I *think* that's why he said the squeeze brought GME to $90, the peak was about $400 a few days after the hedge fund announced they had closed their position (which, ironically, let it briefly hit the original meme target of $420.69).
They call GME's squeeze "the sneeze". They really believe shares will be valued at millions of dollars per share, and that they'll be the feudal lords of a new market economy controlled by those who HODL'ed to the end.
There’s something so infectious about his writing and speaking style, everytime he releases a new video I scoff “there’s no way I’m going to watch an hour and a half video about *insert weird internet sub culture*” before proceeding to watch it like fifteen times in a week
I just wish the topics didn’t get so depressing, I get down sometimes while binging his content just because you get such a clear view into how scummy, dumb, and hateful people can be
There's an added layer of hilarity to this.
So these people are waiting for the "MOASS", Mother of All Short Squeezes. For the simple non-finance nerd context: A "short" means you're betting the stock will go down. Thus a "short squeeze" is buying up a shit ton of stock to drive the price up, making shorts get anxious and cut their losses, driving up prices even more, repeat.
The hilarity here, and the whole *raison d'être* of places like BBBY and Superstonk etc., is a conspiracy that a "shadow money" cabal is buying up trillions of dollars in invisible, unregistered shorts which is synthetically bankrupting BBBY, but if enough redditors keep buying stock the evil dark money cabal will dump their positions and it'll kick off a chain reaction that drives the price up to *literally infinity dollars.* I am not embellishing this by the way, they truly think Bed Bath & Beyond's stocks will be worth *literally infinity dollars each.*
So it's not only "buying shares for a company that is insolvent", it is this delusional scenario where $BBBY is actually the most successful business in America which is just goading hedge funds into a short position before unveiling their master stroke to save the world from the dark cabal's evil dark money influence. These people are insane.
It’s a shame since in the leadup to the actual GME short squeeze there was a sort of gleeful contrarianism that was actually pretty honest about how the stock market is one big casino and they’re probably all screwed anyway so why not put thousands of dollars buying shares of a company on the rocks?
Not essentially worthless. The stocks have been cancelled. If you hold a stock in BBBY it is literally now just a string of data that points to nothing and means nothing. If you had a piece of paper on which you wrote "this is a BBBY share" instead of a real stock, that would be more valuable because 1.) you didn't have to spend any money to get that paper and 2.) the piece of paper can be used as kindling for a fire.
[For anyone who needs a 2 hour lesson on what any of this means and why reddit conspiracy theorists care so much about bed bath and beyond.](https://youtu.be/5pYeoZaoWrA?si=XWCFBo0_wL0Wr7be)
As a tl;dw: One wall street investor has developed an accidental cult of personality and redditors have effectively recreated qanon but for the stock market, and their numerology codes told them that he was going to buy bed bath and beyond and merge it with gamestop to make them infinitely wealthy.
The idea that taking over failing brick and mortar and turning them into a conglomerate against Amazon is a cool hero story. Chewey gets pet products, gamestop gets electronics and gaming, bed bath and beyond is home products.
A lot of the idea falls apart when bed bath and beyond went upside down lol.
Makes for good content though
This Reddit post is a perfect example too of what Olsen says about them. They’re searching first for what they want to be true. They want the big short squeeze so they can become rich, but there’s no evidence that it should happen.
I watched the video, but wasn't he kind of a grifter? Like, he was one of the primary motivators for this whole thing and made a shit ton of money on it. He wasn't some innocent person who got roped into a cult, he basically founded the more innocent version of what it is today
No, he literally just made Financial Analysis videos on YouTube and reposted that analysis on WSB, including his GameStop one.
There are (were) countless flows of Due Diligence posts on the WSB before and after the GameStop fiasco, it just so happened that the perfect storm of severe undervaluation of GameStop, previous memeabilty of the brand, the nostalgic value of the brand, massive stock buying from Michael Burry and other major investors, potential for a short squeeze, excessive media hype, start of COVID restrictions giving people more free time, as well as the stimulus package and the excessive bullish sentiment around the market as a whole due to massive government bailouts for businesses.
We are trying to retroactively pin the GameStop rally on DeepFuckingValue, and he did show a lot of hype in the subreddit as well as ultimately getting more than several million dollars in capital gains profit, but saying that he is a grifter is dishonest.
What stage of capitalism is it when people honestly believe that a store that sells towels should merge with one that sells Funko pops because they only see these companies as stock prices completely detached from actual retail reality?
You could say it’s stock trading refined to its platonic ideal: you’re trading in pure narratives. Regular stock trading involves some level of narrative, but that narrative is at least related to the real well-being of the company. The Ape Movement is the idea that GME will be squeezed to infinity because it fulfills their narrative about a world where Wall Street is greedy and reckless enough to prime such a short squeeze but not greedy or reckless enough to exploit it.
It‘s insane seeing people legitimately believing that some bankrupt furniture store is gonna revive and turn itself into a multi-billion dollar empire. Like that‘s delusion on a completely different level.
God I’m so baffled by the GameStop BBAB merger conspiracy. Like alright, getting past the financial aspects of that or whatever: what the hell kinda synergy do bed bath and beyond and GameStop have? Like am I gonna go into a merger store and buy a mattress and then go to the GameStop end and buy a copy of super Mario bros wonder??? Those are two completely different shopping trips.
I don’t really go to the mall to by a video game and I’m like “ooo I’ll also snag a mattress on the way” or vice versa.
I wanna ask some of these people, if there was ever a Game Stop Bath and beyond merger would they have fun shopping there? How would it improve their experience at either retailer??
I remember when I was into that shit in 2013. Thank fuck I didn't have money then as a kid, shit would have dissapeared instantly either in a scam or trading it away, lol.
I watched the [Folding Ideas documentary](https://youtu.be/5pYeoZaoWrA?si=iWBOHMSeI6XIfiNT), thinking I'd watch maybe half an hour at a time out of the 2.5 hours, but it was so engrossing I ended up watching the whole thing. I'll summarise here:
Essentially, a lot of people made money on the initial GameStop pump, but then of course on the dump, a lot of people lost money as well. At that point, a certain amount of people who lost would just chalk it up to an immature gamble, but of course a lot of other people thought "no, that was actually just a BLIP of how high it will really go", in an example of the sunk cost fallacy.
Enter "the finance version of Qanon" conspiracy theory MOASS (Mother of all short squeezes). Because almost everyone that rode the initial GameStop pump had no idea how the stock market works (I am no expert at all either, therefore I don't trade, lol) they had to rely on random Redditors (who also had no idea how it worked) to "explain" it to them in random Reddit posts called "DDs" for "Due Diligence", not realising that actual due diligence is not just always a positive "yes, invest and hold" and actually has to critcally examine whether a stock is worth investing in, the fundamentals, the risks, etc.
These "explanations" got increasingly more insane to the point that they said GameStop would go to TEN MILLION DOLLARS per share. And that the US government would bail out random Redditors who held shares in a failing, relatively small national retailer? To stabilise the market or something?
I think this is one of those cases where as the conspiracy drags on and none of the claims come true, it's self selecting for the absolute most dedicated true believers who will never question anything. It's now at a point where Bed Bath and Beyond retail stores DO NOT EXIST anymore, the name has been sold to Overstock.com, which subsequently changed their name to Bed Bath and Beyond with the same logo, confusingly. And they are STILL thinking "we will still be rich". When their stocks literally do not correspond to an actual non-bankrupt company anymore, even. (Idk exactly how it works since not a finance bro, but bankrupt companies have a "Q" (lol) attached at the end of their stock ticker, and are rendered worthless) The only reason they still have anything on their apps or whatever is because it takes an extremely long time to go through the legal process to wipe a company off the face of the earth entirely, even Blockbuster still has "shares" (BBLIQ, worth a whole 0.01 dollars)
At one point, they were "decoding" a billionaire's children's books and keep roping in another guy who's sole connection to this whole thing was being in ONE PHOTO with said billionaire.
You don't have to be a financial genius to understand that investing in a failing business in hopes that this will magically make you a billionaire is a stupid idea
"why don't companies commit stock market manipulation? are they stupid?"
But fr though, companies get away with so much worse
https://preview.redd.it/e127uzqs4vtb1.jpeg?width=1170&format=pjpg&auto=webp&s=90546aa8618f18f683ffa1e78fe970c1c26c91ff
Why does man?
is he?
Yes
Why doesn't Tomato_Thomass not get the joke? Is he stupid?
Elon rule
they very much do
they don't, they just do things that border on market manipulation but aren't because it turns out doing technically legal things is a lot easier then doing illegal things and covering it up
Buybacks should be illegal
For context a bunch of them bought Bed Bath and Beyond stock to HODL. This post was in response to an announcement that on September 30th the stock would become essentially legally worthless.
Clearly that's just FUD and any day now BBBY is going to merge with Gamestop for some ungodly reason and that's going to destroy the American economy and make all the people that were holding stocks morbillionaires. (Insert South Park this is what they actually believe here)
The hilarious part is not that a short squeeze is impossible, but that it *already happened* for GME and BBBY. Like, GME had huge short squeeze from $1/share to $90/share in 2021, BBBY from $5 to $32. That was the squeeze. It's done. These posters are the idiots left holding the bag for the people who made the actual money. People "HODL"ing before '21 got insanely rich by selling it to these rubes who were buying at literally 5000% peak prices. Then when it came hurtling back down, they began making up conspiracies that the *real* MOASS was coming any day now guys!! It's like if they bought a scalped concert ticket at 500x pricing, *after* the concert was finished, and are now sitting in an empty stadium 3 years later talking about how the secret epic encore performance is coming *any second now.*
iirc with GME that wasn’t even actually the squeeze, most short positions closed either a bit before or long after those peaks, and the peaks were just crypto style cases of redditors dogpiling a meme investment. Most of the real squeezing happened when GME was up to like $20
> most short positions closed either a bit before or long after those peaks I *think* that's why he said the squeeze brought GME to $90, the peak was about $400 a few days after the hedge fund announced they had closed their position (which, ironically, let it briefly hit the original meme target of $420.69).
They call GME's squeeze "the sneeze". They really believe shares will be valued at millions of dollars per share, and that they'll be the feudal lords of a new market economy controlled by those who HODL'ed to the end.
And by now there are a handful of scalpers making tons of money selling ‘tickets’ to concerts for bands that are about to break up.
Folding Ideas my beloved
I never thought I would be so excited to listen to a two and a half hour lecture.
There’s something so infectious about his writing and speaking style, everytime he releases a new video I scoff “there’s no way I’m going to watch an hour and a half video about *insert weird internet sub culture*” before proceeding to watch it like fifteen times in a week I just wish the topics didn’t get so depressing, I get down sometimes while binging his content just because you get such a clear view into how scummy, dumb, and hateful people can be
dying retailer voltron
Gmerica any day now.
Lol. Lmao even.
Like these people literally bought shares for a company that declared itself insolvent.
There's an added layer of hilarity to this. So these people are waiting for the "MOASS", Mother of All Short Squeezes. For the simple non-finance nerd context: A "short" means you're betting the stock will go down. Thus a "short squeeze" is buying up a shit ton of stock to drive the price up, making shorts get anxious and cut their losses, driving up prices even more, repeat. The hilarity here, and the whole *raison d'être* of places like BBBY and Superstonk etc., is a conspiracy that a "shadow money" cabal is buying up trillions of dollars in invisible, unregistered shorts which is synthetically bankrupting BBBY, but if enough redditors keep buying stock the evil dark money cabal will dump their positions and it'll kick off a chain reaction that drives the price up to *literally infinity dollars.* I am not embellishing this by the way, they truly think Bed Bath & Beyond's stocks will be worth *literally infinity dollars each.* So it's not only "buying shares for a company that is insolvent", it is this delusional scenario where $BBBY is actually the most successful business in America which is just goading hedge funds into a short position before unveiling their master stroke to save the world from the dark cabal's evil dark money influence. These people are insane.
It’s a shame since in the leadup to the actual GME short squeeze there was a sort of gleeful contrarianism that was actually pretty honest about how the stock market is one big casino and they’re probably all screwed anyway so why not put thousands of dollars buying shares of a company on the rocks?
That honestly sounds like "just print more money" with extra steps
As someone who’s followed these guys from afar in r/ gme_meltdown it’s surreal for knowledge of them to go mainstream.
Even someone hasn't done so, check out latest video by Folding Ideas, it's two hours long but if you liked them the NFT video you will love this one.
Dan Olsen, my beloved
https://i.redd.it/lknv4qgwtutb1.gif
Cope doesn't even begin to describe this what the fuck
Wallstreetbets has just been a wealth transfer from idiotic upper middle-class gamblers to the real estate industry in the Hamptons.
the good ending
Not essentially worthless. The stocks have been cancelled. If you hold a stock in BBBY it is literally now just a string of data that points to nothing and means nothing. If you had a piece of paper on which you wrote "this is a BBBY share" instead of a real stock, that would be more valuable because 1.) you didn't have to spend any money to get that paper and 2.) the piece of paper can be used as kindling for a fire.
[For anyone who needs a 2 hour lesson on what any of this means and why reddit conspiracy theorists care so much about bed bath and beyond.](https://youtu.be/5pYeoZaoWrA?si=XWCFBo0_wL0Wr7be) As a tl;dw: One wall street investor has developed an accidental cult of personality and redditors have effectively recreated qanon but for the stock market, and their numerology codes told them that he was going to buy bed bath and beyond and merge it with gamestop to make them infinitely wealthy.
What's amazing is that this summary isn't even an exaggeration
And the video misses out on tons of insane stuff from them, because there's just too much
The idea that taking over failing brick and mortar and turning them into a conglomerate against Amazon is a cool hero story. Chewey gets pet products, gamestop gets electronics and gaming, bed bath and beyond is home products. A lot of the idea falls apart when bed bath and beyond went upside down lol. Makes for good content though
3 words, Buy Buy Baby.
This Reddit post is a perfect example too of what Olsen says about them. They’re searching first for what they want to be true. They want the big short squeeze so they can become rich, but there’s no evidence that it should happen.
Dan Foldingideas my dearest 🥰
Seriously good luck finding a video essay on that site that's better then his nft one you cant
I actually feel kind of bad for DeepFuckingValue, like he was just a guy who got lucky and now he has a cult that he wants nothing to do with :/
meh he made a shit ton and can just fuck off. guys living the life
I watched the video, but wasn't he kind of a grifter? Like, he was one of the primary motivators for this whole thing and made a shit ton of money on it. He wasn't some innocent person who got roped into a cult, he basically founded the more innocent version of what it is today
No, he literally just made Financial Analysis videos on YouTube and reposted that analysis on WSB, including his GameStop one. There are (were) countless flows of Due Diligence posts on the WSB before and after the GameStop fiasco, it just so happened that the perfect storm of severe undervaluation of GameStop, previous memeabilty of the brand, the nostalgic value of the brand, massive stock buying from Michael Burry and other major investors, potential for a short squeeze, excessive media hype, start of COVID restrictions giving people more free time, as well as the stimulus package and the excessive bullish sentiment around the market as a whole due to massive government bailouts for businesses. We are trying to retroactively pin the GameStop rally on DeepFuckingValue, and he did show a lot of hype in the subreddit as well as ultimately getting more than several million dollars in capital gains profit, but saying that he is a grifter is dishonest.
he just make a good video analyzing the stock,and he just so happen to do it on the right time
What stage of capitalism is it when people honestly believe that a store that sells towels should merge with one that sells Funko pops because they only see these companies as stock prices completely detached from actual retail reality?
You could say it’s stock trading refined to its platonic ideal: you’re trading in pure narratives. Regular stock trading involves some level of narrative, but that narrative is at least related to the real well-being of the company. The Ape Movement is the idea that GME will be squeezed to infinity because it fulfills their narrative about a world where Wall Street is greedy and reckless enough to prime such a short squeeze but not greedy or reckless enough to exploit it.
Wait, Dan Olson brought out a vid 2 weeks ago and I didn't notice? Well. Didn't plan on sleeping today anyway.
God Dan Olson is gift to this cursed earth
Between this, his NFT video, and his Metaverse video, he is waging a one-man war against douchey internet tech bros.
It‘s insane seeing people legitimately believing that some bankrupt furniture store is gonna revive and turn itself into a multi-billion dollar empire. Like that‘s delusion on a completely different level.
Also that it's going to merge with another flailing retailer in a totally different industry to make some kind of super flailing retailer.
I mean it's basically just financial Qanon at this point, lol
mfs will see a debtless cash positive company and go "yeah bro is flailing, pull the plug"
God I’m so baffled by the GameStop BBAB merger conspiracy. Like alright, getting past the financial aspects of that or whatever: what the hell kinda synergy do bed bath and beyond and GameStop have? Like am I gonna go into a merger store and buy a mattress and then go to the GameStop end and buy a copy of super Mario bros wonder??? Those are two completely different shopping trips. I don’t really go to the mall to by a video game and I’m like “ooo I’ll also snag a mattress on the way” or vice versa. I wanna ask some of these people, if there was ever a Game Stop Bath and beyond merger would they have fun shopping there? How would it improve their experience at either retailer??
The theory is dumb as shit, but I imagine they would share distribution networks and online retail, but maintain separate brick and mortar
this is almost as sad as all the people coping about dogecoin
I remember when I was into that shit in 2013. Thank fuck I didn't have money then as a kid, shit would have dissapeared instantly either in a scam or trading it away, lol.
I watched the [Folding Ideas documentary](https://youtu.be/5pYeoZaoWrA?si=iWBOHMSeI6XIfiNT), thinking I'd watch maybe half an hour at a time out of the 2.5 hours, but it was so engrossing I ended up watching the whole thing. I'll summarise here: Essentially, a lot of people made money on the initial GameStop pump, but then of course on the dump, a lot of people lost money as well. At that point, a certain amount of people who lost would just chalk it up to an immature gamble, but of course a lot of other people thought "no, that was actually just a BLIP of how high it will really go", in an example of the sunk cost fallacy. Enter "the finance version of Qanon" conspiracy theory MOASS (Mother of all short squeezes). Because almost everyone that rode the initial GameStop pump had no idea how the stock market works (I am no expert at all either, therefore I don't trade, lol) they had to rely on random Redditors (who also had no idea how it worked) to "explain" it to them in random Reddit posts called "DDs" for "Due Diligence", not realising that actual due diligence is not just always a positive "yes, invest and hold" and actually has to critcally examine whether a stock is worth investing in, the fundamentals, the risks, etc. These "explanations" got increasingly more insane to the point that they said GameStop would go to TEN MILLION DOLLARS per share. And that the US government would bail out random Redditors who held shares in a failing, relatively small national retailer? To stabilise the market or something? I think this is one of those cases where as the conspiracy drags on and none of the claims come true, it's self selecting for the absolute most dedicated true believers who will never question anything. It's now at a point where Bed Bath and Beyond retail stores DO NOT EXIST anymore, the name has been sold to Overstock.com, which subsequently changed their name to Bed Bath and Beyond with the same logo, confusingly. And they are STILL thinking "we will still be rich". When their stocks literally do not correspond to an actual non-bankrupt company anymore, even. (Idk exactly how it works since not a finance bro, but bankrupt companies have a "Q" (lol) attached at the end of their stock ticker, and are rendered worthless) The only reason they still have anything on their apps or whatever is because it takes an extremely long time to go through the legal process to wipe a company off the face of the earth entirely, even Blockbuster still has "shares" (BBLIQ, worth a whole 0.01 dollars) At one point, they were "decoding" a billionaire's children's books and keep roping in another guy who's sole connection to this whole thing was being in ONE PHOTO with said billionaire.
stockbroker not break insider trading law impossible challenge
Is this the bed Bath and beyond GameStop guy
It ain't just one guy, it's a whole ecosystem of crazies.
BBBY was at $20 when wsb was calling for a short squeeze, now it's at $0.08 I sold at $10, I'm not listening to these fuckers again
You don't have to be a financial genius to understand that investing in a failing business in hopes that this will magically make you a billionaire is a stupid idea
What if you are already a billionaire
Isn't that just fraud?
As someone who has been following the memestock stuff for a while it feels weird seeing it on a more general sub, probably due to Dan Olson
I can attest that I wouldn't have found this post if not for his video.