| Author | Source |
|---|---|
| u/pinkcatsonacid |
🎤🎸🥁 🦍Welcome to the Jungle🦍🥁🎸🎤
Today’s Recap 📈
$GME Closing Price: $209.51
Open Price: $214.00
Daily High: $214.20
Daily Low: $198.50
Volume: 10.15 MM
🖍🍎🚌GME 101🚌🍎🖍
If you’re new to Superstonk, start here!
Superstonk FAQ (Updates coming soon)
The apes of r/Superstonk sincerely appreciate the time and effort put into getting this information out there. 🦍🤝💪
Russell 1000
Every year in May and June, the Russell Indexes release an updated list of the constituents for their various indexes, notably the Russell 2000 and Russell 1000.
And today $GME qualifies to be added to the Russell 1000 Index. Which historically is a day in the stock market that sees the most volume action.
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).”
Also remember that we are not likely to see the resulting action in the stock volume (or price) until afterhours or Monday/next week.
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 though!
Just a Reminder that Moving to the Russell 1000 means selling. Expect some downward movement before upward movement this after noon. Short explanation vid from 3 years ago- posted by u/613Flyer
005 and 002 are Primed and Ready for Liftoff
Community Award Design Contest
u/redchessqueen99 and u/bye_triangle have made their way through the 150 submissions we received for the community award design contest! They will be working through the weekend to get the brackets set up, and we will begin voting next week, so stay tuned!
I would share some with you here but that would ruin the surprise! Trust me, these are GOOD!!
Monkey Business
Yesterday u/sharkbaitlol was an absolute pro at hosting another fun episode of Monkey Business on the Superstonk Live YouTube channel! We talked about RRPs, Ryan Cohen Tweets, Gamestop’s ATM offering, and more. And right now I want to give an extra shout out and thank you to our guests!
u/buttfarm69 , u/broccaaa , u/draygon_media , u/tearsaresweat , u/roodboy22 were all wonderful and insightful (👀 buttfarm) and we look forward to welcoming you back in the future, as well as more apes from the community!
Link to yesterday’s Monkey Business
Community Spotlight
I could link them all here but it’s probably best to visit their profile! Link
Recently, and since I’ve joined this sub-reddit, there have been a ton of questions around the role that Dark Pools play in US equity market structure. I wanted to put together a post to clarify some things about how they operate, what they do, and what they cannot do.
A Note from your friendly local Pink Cat ✌❤🐈🦄🚀
I’ve seen lots of confusion on where to go if/when reddit goes down, which has been happening a lot more lately. While we do have an “emergency broadcast system” in place, I encourage you to remember, that pretty much everyone in Superstonk is a long term investor, and my personal mantra is just Buy and HODL. I love the company and will probably sit on my shares for far longer than Citadel is a standing business. I like the stock.
But I digress… no, we aren’t meeting at Gangnam Style. Apparently that originated with the movie crowd and that’s not our video to claim anyway. All the mods twitters are listed below, and the YouTube channel has a lot of content to hang out in the comments. Just wanted to clear up any confusion!
u/thechaoschicken
NOW DROP THOSE FLAIR REQUESTS IN THE COMMENTS!! 👇👇👇👇
We Like the Company! We Support the Company!
u/DReck417
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”