| Author | Source |
|---|---|
| u/pinkcatsonacid |
This piece will be posted at 4:20 pm NYSE time every trading day!
🎤🎸🥁 🦍Welcome to the Jungle🦍🥁🎸🎤
Today’s Recap 📈
$GME Closing Price: $220.40
Open Price: $217.73
Daily High: $225.88
Daily Low: $209.17
Volume: 8.15 MM
🖍🍎🚌GME 101🚌🍎🖍
If you’re new to Superstonk, start here!
Superstonk FAQ (Updates coming soon)
NEW!! We will be having a “Smooth Brain Sunday Megathread” every Sunday as a place to ask all the questions you’ve been wanting to get answered! Please be advised that all answers provided are from individual users and, as always, any information you receive requires doing your own due diligence!!
The apes of r/Superstonk sincerely appreciate the time and effort put into getting this information out there. 🦍🤝💪
🎉 HYPE WEEK 🎉
Monday- NSCC-2021-002 approved
Tuesday- Gamestop completes 5 MM share ATM offering and makes A BILLION BUCKS AND SOME CHANGE NBD
Wednesday- NSCC-2021-002 Implemented
Thursday- T+21
Friday- $GME officially joins the Russell 1000 Index!
credit u/Challenger05
It is Finished- Gamestop just got infused with $1.12 Billion in Ca$h
And with that, Chairman Cohen is now free to take over and dominate the retail marketplace.
Bankruptcy was already off the table, but now we have a world class team of executives leading the revolution of a gaming company, (one of the largest and fastest growing industries in the world) and they just got a Billion bucks to do whatever they want with. Seems to me like a solid company to invest in, especially long-term.
MSM and retail have no idea what’s about to hit them.
Russell 1000 Index
This Friday $GME gets to finally sit at the big kids’ table and get bumped up to the Russell 1000, which represents the top 1000 companies by market capitalization in the United States.
And I’ve seen a lot of discussion of whether this means that shorts will have to cover the ETFs they shorted that contained $GME. The answer, as far as I can tell, is no. Well…. not necessarily….
u/dlauer clarified that in this comment:
“There’s not really any kind of short-covering requirement when a stock gets added to an index. However, the announcement is usually bullish because it adds buying pressure. Russell rebalancing day is the the CRAZIEST day in the stock market. Volatility and volume is usually the highest on that day, as stocks are added and removed from Russell indices, and weightings are changed. A bunch of ETFs follow Russell indices and need to rebalance their portfolios to reflect the new index composition in order to minimize tracking error. So getting added is a big deal, and leads to a lot of buying pressure from those ETFs (and from people trading ahead of that addition and trying to get the alpha between the announcement and rebalance dates).”
So don’t get toooo hyped thinking that this will be some sort of catalyst by forcing shorts to cover. Yes, all shorts must cover eventually, but this is not that. Still cool af thoough!
In Today’s Nightmare Fuel- RRP Hit a new Daily Record
$791 Billion with 74 participants 👀
credit to u/pctracer
If you need the ELIA on RRP: Reverse Repo Operations- Explaining their purpose by u/Kintsugi2
Recommended Reading from u/Bye_Triangle
An adventure through the looking glass, highlighting the connections between the Crypto Market, the GME saga, and all the shady characters that could be involved. Broken into 5 parts, it is a lot to take in but u/con101smd does an amazing job of breaking it all down and walking you through it. Highly recommend giving it a read if you haven’t already! Here is the first part:
TLC: THE LONG CON: The markets are frothing with liquidity.
The Meeting of the (Money) Minds- FSOC (Financial Stability Oversight Council)
Yesterday we talked about how all the top financial regulation officers in the country were having a little meeting. It turns out the people in attendance yesterday had one very relevant thing in common- they are all voting members of the FSOC (Financial Stability Oversight Council) which held their “Liftoff” press conference just last week.
This DD written by u/Valtani did an excellent job mapping out exactly who was in attendance.
As we all know, the Dodd–Frank Act is a federal law that was enacted in 2010. The law overhauled financial regulation in the aftermath of the Great Recession. The Act also created a new agency, the Financial Stability Oversight Council (FSOC).
The FSOC, chaired by the Secretary of the Treasury, brings together the expertise of the federal financial regulators, an independent insurance expert appointed by the President, and state regulators. The Council has a clear statutory mandate that provides new accountability to Congress and the American people by identifying emerging threats to financial stability and to coordinate regulatory actions to address them. The Council has important new authorities to constrain excessive risk in the financial system.
The Council is made up of 10 voting members and 5 nonvoting members.7 of the 10 voting members were in attendance at today’s meeting with Biden:
Janet Yellen, the Secretary of the Treasury who serves as the Chairperson of the Council; she’s a former Fed boss and replaced Bernanke, who’s been an employee of Citadel since 2016. She also happens to have received speaking fees from Citadel, Goldman Sachs, Barclays, and UBS during 2019 and 2020. She acknowledges receiving speaking fees from Wall Street banks in 2018 but doesn’t say how much those fees amounted to. Yellen has been dubbed the most powerful woman in the world.
Jerome Powell, the Chairman of the Board of Governors of the Federal Reserve System. The Fed chief. Powell spent decades managing banks and private equity firms. In November 2020, as markets reached record valuations – despite a weak economy, divided Congress, and trade wars – Bloomberg called Powell “Wall Street’s Head of State”, as a reflection of how dominant Powell’s actions were on asset prices, and how profitable his actions were for Wall Street. Powell’s close associations with shady figures such as Jamie Dimon (CEO of JPMorgan Chase and 5-time felon) have been criticized by congresswoman Katie Porter, who exposed how the Fed chiefs of past and present have used their position to pay off the big banks’ debts using taxpayer money, and to make sure their interests were never in jeopardy. Representing JPMorgan Chase as outside counsel in the matter were lawyers from Kirkland & Ellis (the law firm with which former Attorney General William Barr was associated before coming to the Justice Department) and lawyers from Sullivan & Cromwell, where former SEC Chairman Jay Clayton was a partner before taking the lead at the SEC.
Michael J Hsu, the Comptroller of the Currency (OCC); (the administrator of the federal banking system) “We ensure that the banks we supervise operate in a safe and sound manner, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations”. The OCC operates under the Treasury Dept. Yellen picked Hsu, a low-level employee at the Fed, to serve as Acting Comptroller of the Currency. The OCC oversees the most dangerous megabanks on Wall Street and reports on their hundreds of trillions of dollars in derivative trades. Hsu quickly turned around and appointed Benjamin McDonough as the OCC’s Senior Deputy Comptroller and Chief Counsel. Where had McDonough come from? the Legal Division of the Federal Reserve.
Dave Uejio, the acting Director (until nominee Rohit Chopra is confirmed by the Senate) of the Bureau of Consumer Financial Protection (CFPB); This government agency’s job is “dedicated to protecting consumers from unfair, deceptive, and abusive practices, in the financial marketplace, through the enforcement of federal consumer financial law”. Uejio began his career for the US government in 2006 at the NIH, then for the Department of Defense, prior to his first role at the CFPB. That is all the info I could find about him online.
Gary Gensler, the Chairman of the Securities and Exchange Commission (SEC); Former investment banker (Goldman Sachs), Chair of the Commodity Futures Trading Commission (CFTC), and former Treasury Dept official. If you are not familiar with the MF Global scandal, read it here. This will make you doubt that Gensler is the tough regulator he’s portrayed to be. Another reason to doubt Gensler’s willingness to do anything of substance at the SEC: He picked Alex Oh as head of Enforcement. Oh worked for 2 decades as an attorney for Paul, Weiss, Rifkind, Wharton & Garrison, the law firm that major Wall Street banks (Citigroup, Deutsche bank, etc) repeatedly choose to fight their serial fraud charges. Brad Karp is the Chairman of Paul Weiss. He has donated millions and lobbied for years to make sure the government doesn’t appoint regulators and prosecutors who will bring his corporate clients to heel. If you’re not sick to your stomach that Wall Street’s top watchdog has been a completely captured regulator under both Democrat and Republican administrations for decades, then you’re simply not paying attention. Btw, the SEC still has not designated a Director of Enforcement. The current “Acting” director, Melissa Hodgman, is the wife of former FBI agent Peter Strzok, who led the investigation into Hillary Clinton’s use of a personal email server.
Jelena McWilliams, the Chairperson of the Federal Deposit Insurance Corporation (FDIC); ”An independent agency created by Congress to maintain stability and public confidence in the nation’s financial system. To accomplish this mission, the FDIC insures deposits; examines and supervises financial institutions for safety, soundness, and consumer protection”. McWilliams has a law degree. She worked for private firms, then for the Fed. McWilliams worked in the United States Senate for six years, first as assistant chief counsel for the Small Business and Entrepreneurship Committee and then as chief counsel and deputy staff director for the Committee on Banking, Housing and Urban Affairs. At the banking committee, McWilliams worked with chairpersons Senator Richard Shelby (R, Alabama) and Senator Mike Crapo (R, Idaho) on, among other issues, the implementation of and efforts to rework or repeal the 2010 Dodd-Frank banking-regulation reform act. It sounds like a conflict of interest, doesn’t it? Working to repeal Dodd-Frank and then becoming a voting member of the Financial Stability Oversight Council, which was created by Dodd-Frank to regulate banks.
Rostin Behnam, the “Acting” Chair of the Commodity Futures Trading Commission (CFTC); According to his profile on the CFTC website; “Behnam advocated for the CFTC to use its authority and expertise to ensure the derivatives markets operate transparently and fairly for participants and customers”. Given the CFTC’s importance, it’s puzzling that President has yet to nominate a chair. The Commodity Futures Trading Commission has been without a permanent chair since President took office in January. “Acting” leadership positions are not sufficient. Since President took office, the acting CFTC chair and the acting director of enforcement have made few public statements to indicate the direction the CFTC will take in the new administration. The CFTC also has a number of unfilled positions in senior leadership, including director of the Enforcement Division and general counsel. There have been no statements about CFTC’s enforcement priorities or what the markets can expect. So here is a powerful market watchdog with no dogs to watch the market!!
TL;DR: The government, its regulatory agencies, and especially the Federal Reserve, have been allowing Wall Street criminal behavior to continue due to conflicts of interest and greed. GME has exposed how financial institutions manipulate the markets through naked short selling, dark pools, swaps, and other types of fraudulent activities. Retail investors can change the status quo by buying and holding GME shares until the SHFs are forced to cover.
🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
Community Spotlight
Lucy Komisar continues to spread the word with her new article on the Gamestop saga.
RELEASE GRANDMA
Loving these covers by u/zedinstead!
We Like the Company! We Support the Company!
Obviously you’re a shareholder because you love Gamestop and have high hopes for its future. Supporting the company you love on the retail front is a great way for a shareholder to ensure a business’ success! Here are several ways you can show your public support for Gamestop;
Apple Devices- Download the Gamestop App (Link to App Store) 🍌
Android Devices- Download the Gamestop App (Link to Play Shop) 📈
Brands owned by Gamestop; ThinkGeek, GameInformer, MicroMania, and EB Games 💎
Please remember apes, as you are interacting with Gamestop Social Media, that their objective is to reach gamers and promote their brand to their demographic. Yes it’s fun when they tweet MOASS and Chickie Tendies, but let’s not flood them with comments about Ken, Naked Short Selling, and Mayonnaise. Let’s show them support by joining, contributing to, and expanding their robust community of gamers!
🚨 Reddit down 🚨
With Reddit having issues during high traffic, exciting moments in this saga, we have discussed what to do if Reddit has an outage.
IF REDDIT GOES DOWN AT A PIVOTAL MOMENT A LARGE PORTION OF THE MOD TEAM IS ON TWITTER.
https://twitter.com/ByeTriangle
https://twitter.com/PinkCatsOnAcid
https://twitter.com/RedChessQueen99
https://twitter.com/u_sharkbaitlol
IF THERE IS SOMETHING BIG GOING ON WHILE THE OUTAGE IS HAPPENING WE MAY ALSO UTILIZE THE “EMERGENCY BROADCAST SYSTEM” TO RELAY INFO:
SuperstonkLive YouTube - Emergency Broadcast System
OOK OOK
“I may have been early, but I am not wrong”
🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍🦍