Everything You Thought You Knew About GameStop Was Wrong!
ฝัง
- เผยแพร่เมื่อ 19 ต.ค. 2021
- The SEC published its report on GameStop $GME this Monday, which focuses on the January 2021 trading activity of GameStop Corp (GME), the most famous of the "meme stocks." Because the meme stock episode raised several questions about market structure, the staff report also provides an overview of the equity and options market structure for individual investors.
The SEC Report on GameStop: www.sec.gov/news/press-releas...
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Are you going to give your opinion of the current state of the market with AMC and GME. Are we wearing foil hats currently ?
Nice
Where did you get you jacket?
Patrick, what is the likelyhood of SEC being corrupt and these short sellers getting out at unrealistically low prices?
I'm not saying that just because of this report, but I was assuming that would happen during the "short squeeze".
My assumption is based on the fact that government agencies have proven to be corrupt, and the more money is on the line, the more likely such intervention would be.
I don't know everything about mechanisms according to which prices are established and orders are filled, but I would assume that there are private bookies and a regulatory body like the SEC watching if they're calculating their prices according to supply and demand, and that they are executing trades where people who order are placed in exact time.
I am, however, personally familiar with corruption in my country (Croatia), and our stock market, and no normal person would ever invest into our stock market unless they're insiders, politicians or crooks (which are all insiders).
If I were a bookie, I would help my friend by changing the time stamp on his short cover. It would put him before the next buyer and everyone else would keep gambling.
From what I understand, there is a 1-2 day period before the actual transaction happens. In that period, market makers can do whatever they want.
Love this! This video is rich in information and I learned a lot. Thanks Patrick!
"If you are from the SEC, like and subscribe"
Patrick Boyle
😂 😂 😂
This was a highlight for me too
If not, sod off.
I had to actually hit pause. So that I don't fail to hear the rest of his message. Whilst I laugh my behind off :-) In fact, I'm still on pause, laughing as I type
Yeah, made me laugh out loud 😂🙄
I’ve shown the first 17 seconds of this to a few of my friends and they think it’s the funniest thing ever
Collab with Mr. Boyle?
"people bought a lot of game stop basically, because they like the stock" 😂😂😂 Patrick is the best
Patrick's sense of humor is both sharp and flat. A rare treat. I laugh out loud at least 3 times per video and I probably miss a lot of the jokes since they are often subtle and sneak delivered.
just came to check if i was the only one laughing
His humour is absolute gold.
Dead pan British humour lol
@@priceandpride but he's Irish
A true gentleman humour.
I think it is important for retail investors to remember that stonks only go up, and max leverage is your friend.
Also same day out the money options are the best value for money
Where there's a Will, there's a... Oh damnt there's nothing in my last Will and Testament because I leveraged my grandchildrens children into utter poverty... But at least I tried to go to the moon and it's the thought that counts, amirite 😁😁😁
@@jw2862 holy moly just realized your username hahahha
@@JW.... Top tier initials 🤝
Buy high sell low
I remember following GameStop discussion very closely on wallstreetbets at the time.
I remember everyone was pretty much flying blind, however, this news is actually even better than what everyone expected. Because what it shows to me, is that the retail investors had much more influence on moving the market than what anyone expected, I think that is very important to consider when things like this happen in the future.
@@youtubing9762 If you actually integrate over the shortseller-buys area in figure 6 of the report, you will see that the bought volume does not even come close to the over 100% of the shares they needed to cover. The decrease of the short interest is pretty easily explainable by them just "hiding" the shorts in total return swaps and similar products.
So hodl on, are you saying DRS and hodl is the way?
This is pretty cringe so, sorry.
First off institutions try their best not to move the stock price much if they can help it, if not everyone could see their intentions and follow their trades and make the easiest money of their life. Secondly, retail traders always had influence over illiquid stocks. Back in the days penny stocks pump and dump were a thing.
@@InvestingAlex "Back in the day *(and continuing into the present)* penny stocks pump and dump were a thing." (ftfy)
I represent the SEC* and I approve of your channel's content.
*super economically challenged
😂
I absolutely love the SEC title. Honestly got a loud chuckle out of me. Man you bring us the greatest of financial content sir! Much obliged!
Lol some poor grad at SEC had to look through all the meme posts on WSB 😂
I'm just gonna save this video to come back to it after #MOASS cause the squeeze ain't squoze! #GME #AMC to the moon!
copium surely
@@DrugedBatmanStrikes Well the SEC admitted themselves that there was no short squeeze back in January, so the squeeze ain't squoze yet brah.
If the buy button didn’t evaporate the truth would of played out
God it's funny to come back to videos about GME and see these comments
Patrick one day we will sit down and chuckle about this video title together
Boy am i glad to see you here!! Doomslayer!
I could be wrong, but...I do believe that Patrick could win a staring contest against ANYONE.
Mirrors weep
Does this help me decide whether to YOLO all my tendies on MOASS? Yes and no.
hahaha the graphic of a short seller being squeezed is hilarious.
Absolutely Love the In-depth Contents of this Channel. Please keep up the awesome research! 👍. Thank you, Patrick 💖
Can't...... stop....... laughing....... but I did learn a lot. Gamestop was the first store to consistently have Playstation 5's in inventory. As much as I thought that they were a joke, I think they've shown that there's still value in having a brick and mortar, game store.
Thanks! Gonna buy more GME and AMC cause I like the stock!
I appreciate your ability to explain these very complicated entities to the everyday guy 😉. Your content has been so interesting and helpful 👍. Thnx as always.. Regards, Old G 😁
I'm still up on GME and holding as I don't believe it squeezed
I love your lack of nonsense Patrick. This has become my favorite channel due to how much I learn every time I watch. Love the dry humor too, so good!
"Its actually quite a good read"
Patrick I will take your word for it lol
I said it back then. Legacy retail has value. People enjoy shopping. It's a leisure activity that is social and has a strong emotional connection to places, seasons, and family. We're never going to be rid of retail stores.
as long as moms get their nails done at strip malls there will be gamestops they drop their kids off at
ps never use the demo machines, we don't clean them. You're basically soaking your hands in booger germs when you touch those controllers.
Well done Patrick, the channel is starting to get a lot more traction, I think the recent polls helped!
You really are totally awesome with these types of pretty in dept summaries with enough sarcasm and irony they never get boring!
I love that for all it's dryness, the sec report has 'meme stocks' as an official term 😂
Regarding NSCC & margin requirements. You were explaining that the NSCC were waiving margin requirements, and only increased it from Robinhood - so no conspiracy there. Yet, brokers kept restricting buying, not just Robinhood. What about Trading 212, WeBull, TDA, ..., and even boomer broker Interactive Brokers? CEO of IBKR even stated on CNBC that he will keep GME in PCO until it's reaching "reasonable value" again. He said that if they did not restrict buying, the share price would have gone into the thousands. So if there was no issue due to margin requirements, why did the brokers still keep the limitation up? And exactly this question should be answered as well, and hopefully getting prosecuted as well.
The SEC report tries to be non-judgemental and tries to convey facts on what happened. Just saying that there was no conspiracy or market manipulation maybe a little early.
First, they were not waiving margin requirements lol, margin requirements are.. a requirement. It's the ECP addtional charge it waived, for all brokers. Second, how having to add 6.9 billion collectively in margin requirement a definition of "no issue due to margin requirement"? "NSCC made intraday margin calls from 36...totalling 6.9 billion, bringing the total... to 25.5 billion". Third, I have to say I like how your logic work; Since Robinhood was treated differently, there is probably a conspiracy (you never wrote this but you made it pretty obvious it was your point through sarcasm). Totally ignoring the fact that a different treatment might be warranted due to its different exposure. Nah just throw that possibility in the garbage, it clashes with your opinion...
"The SEC report tries to be non-judgemental and tries to convey facts on what happened. Just saying that there was no conspiracy or market manipulation maybe a little early."
So, you didn't understand the video then?
Maybe you should watch it again... on a slower speed this time (it's in the settings).
They removed the buy button
The real thing to note is that they tiptoed around things that would lead to litigation. On purpose. Whatever the reason is, one should realize that that they're very aware of that line in the sand and that they know a lot more than they're letting on in the report.
Whether they actually start dropping rules and fines is a different matter entirely. But pretending that everything is fine because they left that stuff out of the report is either fooling themselves, or trying to fool you.
IBKR also stopped gme buying ? Wtf ? I thought they were so good thah they are used by small hedge funds and institutional investors.
Thank you Patrick for another super educational and informative video. When I watch, I realize there is ALOT I don't know about how markets work. TY
This is excellent, to actually get the facts and not just an opinion.
Most financial youtubers do not base their information in facts and often come to the wrong conclusions. This video is detail dense, it took me 5 times to get to the end.
one bald finance expert calling another out for looking like mr burns. love it
SEC also had issued a statement saying that they have investigated Bernie Madoff and there are no wrong doings
What?? Michael burry wrote back in September, of last year, wrote why it was a good reason to buy and was analyzed since then and people took positions since way before dec and Jan, based off that analysis
Also why did Robinhood and citadel lie to congress. Email leaks showed they spoke prior to the halting, and they said they didn't.
Why allow to only sell but not buy, why not stop all trading. And why did other platforms outside if robinhood also stop the ability to buy?
This report is garbage. I appreciate your breakdown of it, as you didn't write it just explained what's in it
Burry also updated later with a negative sentiment on meme stocks. RH and Citadel didn't lie, Griffin specifically said they spoke. What he said was they did not instruct RH to shut down trading. It wasn't just buying that was disabled, some brokers moved to position close only which means no new positions could be opened.
The report isn't garbage, you are just misinformed.
Thank you for boyleing down this report Patrick! :)
Finaly some explanations. And what it means.
Thank you very much.
Here for the information stayed for the subtle witticisms
Great video that explains some of the technical/transactional aspects of what is going on in the market.
Great video Par-trick. I read the entire report (probably didn't need to) but I have to say it's very informative.
I'm not from the SEC but I'll still leave a comment for you Patrick
So if no naked shorting, no shorts covering, no gamma squeezing, no nothing. Then wtf is going on?
You forgot to explain how shares shorted fell from high 108% to 16% while the price was falling or sideways trading.
@@chrissi.enbyYT without a doubt.
More people willing to sell then willing to buy (outside of the existing shorted positions).. How else do prices fall?
price falls when shorts choose to not close their shorts and increased their shorting. While the buy button was taken away. So basically the shorts never closed. They went back to being hidden like the rest of the other shorts. Melvin's biggest mistake was showing reported short interest
@@purplerings1969 prices can fall regardless of shorting positions, it's called selling pressure
@@chrissi.enbyYT yes they did lol
First time viewer. That was the best 20 minute setup to a punchline I've seen in a while. I'm sure you jumped with delight when you navigated that closer. Kudos!
Nancy Pelosi the world's greatest ever stock trader approves of this video.
Not as good as Loeffler and Perdue🙄🙄
Jerome Powell: Hold my beer
Nancy is truly bad in trading, her husband on the other hand seems to have this mindfull insight on trading
pie crust almost flew out of my mouth at “they even harassed smooth jazz musician kenny g” 😂😂😂
I absolutely love your trading and market commentary. 👍
Kidding me that removing only the buy was fair move.
What about robbing the hood selling before they closed the buy button.
He is so ingrained in that culture he can't see it for what it is...cheating.
What would be good in these instances is to know the percent of stock that was held and never traded.
Thanks Patrick, I subbed recently, after seeing your Evergrande videos. Great content!
thanks for the clarity patrick!
I love the salty comments from uneducated fresh “investors” who are down 75% on a meme stock and are unable to let go of ridiculous conspiracies.
the SEC identifies GME as a meme stock xDDD
Meme is no longer a slang word simply because that's the word actual securities lawyers are referring to stocks with high retail interest.
Brilliant summary 👏 much appreciated 💯
*TL;DR "So, this can be seen as a rally that started as a short squeeze which then just continued on as a bubble (due partially to a lack of willing-short sellers)."*
In Summary: "Everything is fine" - SEC
You are absolutely right, We like the stock!
Underrated = Easter eggs hidden in Patrick's office
Been loving your videos
High Brow trolling? Sooo buy more GME!
My only question is why was trading not halted but instead certain brokers allowed to only prevent new buy orders.
This is not fair market activity. In 15 years of following markets I have never seen this ever happen.
thank you Sir, you're always making me look like a genius in work!!
Thank you so much for this video. Well done !!!
Snuck in that we like the stock at the end there. I see you
I’m sensing sarcasm in this video…
This sounds interesting, thanks Patrick.
Thanks Patrick for another excellent video
What about the deep itm options and failures to deliver in march, and again in July? How does the SEC explain that? Or the stocks traded being higher then the float comtinuing after February?
@@thomaslgregoryjr its not that the SEC doesnt know, its that by stating there were naked shorts the SEC would be complicit in not enforcing reguations on the market maker. Its a nothing burger of a report. Only thing it confirms is shorts did not cover evidened by the volume vs the maximum "reported" short interst of 140% of the float. Compair this to the legal documents agaist Robinhood of 226% short and what you have is a confirmation short could not have closed and the market maker has joined in clearing these short positions. The graph shows it. Also reguardless of the volatility you cannot halt trading on a public stock unless under investigation by the SEC, and thats your opening to a conspiracy right there.
@@Gusando I disagree with you. There’s a lot the report does say, and I do not believe the SEC is being dishonest, as you insinuate.
@@thomaslgregoryjr Thank your for your opinion, we will have to agree to disagree on the matter I'm afraid.
@@thomaslgregoryjr not being dishonest = not telling the whole truth
He said retail refused to sell. What apocalyptic doomsday theory are you people banking on now
Thank you. Your channel is one of the best analysis and info source that is clear and easy to understand out there. Cheers!
Robert Shiller will have a field day with this one. Excellent explainer again from Patrick!
"Because the SEC doesn't do clickbait."
And that's why they don't get the clicks.
Has anyone seen Patrick and the meme stonks guy in the same room? Just sayin.
I was watching the video and in 3:04 I though "wow, this is how the world looks with RTX off"
😁STONKS!
so wait, if over 140% of the shares were sold short and then the price spiked up, not because of shorts buying back what they borrowed, but instead due to a bunch of people buying and holding it because they like the stock, and there was never a short squeeze or a gamma squeeze... then how could that many shorts possibly close out and get more shares than exist without buying them? and what made the price go down to $40 right afterwards?
unless most of the short positions still exist unreported that is, and now there are even more of them, naked shorts, yeah.
before the spike up in price, most shares were held by institutions, after the stock price spiked most of the gme shares are held by individuals. Thus, other institutions (teachers pension funds etc) were taking this opportunity to take a huge gain so they sold to anyone short covering of just love the heck out of the stock lol
@@InvestingAlex that does not make sense lol
@@menamgamg because the people buying that no one was selling to were other retail traders not shorts.
Shorts waited until the run up and covered during flat periods. Telling everyone to "Hold" probably had a bigger effect on price and no one selling had a bigger effect on price than actual short interest (who covered after volatility & volume cooled off)
They closed out by buying the shares which can be bought and sold and change ownership more than once.
@@menamgamg yeah, what Alex is trying to say is that institutions had no desire to short squeeze and were happy to just make their money. The short sellers would then have stock to cover some of their positions. But after that happens, where does the stock go? Back to whomever they borrowed it from in the first place. And if that was those same institutional investors, they’d be selling that same stock again at an even higher price. Unraveling a 140% short squeeze situation doesn’t always mean that the price goes to infinity. Doing that requires that the stock can’t be bought at any price because there are no sellers willing to sell. But if the majority of the stock was still held by normal institutional investors who have no desire to “hold no matter what” and will just sell, the position can be unraveled without the short sellers being completely destroyed. Just… lightly toasted.
1:55 that’s a quite high flying bird 😂
SEC doesn’t do clickbait haha
You are the best 😄
Ha ha the SEC. Ask the brains there if they heard of Bernie Madoff.
This presentation has been a goldmine! Thank You Patrick!
@@youtubing9762 By reading what the SEC reported a week ago?
Thanks for sharing this!
HAHAHAHAHAHA I got to the "the liked the stock comment" so funny. Great way to start my day.
At the end it seems that retail investors could turn the market. That’s quite interesting based on individuals working alone.
Now that we know… what’s next 😎
It wasn't hard given daily trading volumes was many times the share float count.
The second enlightment is upon us
@@samsonsoturian6013 People sell too...
@@PapaJenkinz not near enough
Thank you for your insight here. I find it odd though how this investigation didn't include conflict of interest
One of my complaints regarding the Gamestop fiasco was how Citadel, a market maker, had financial ties with these companies such as Melvin Capital holding short positions. It was in their interest that Melvin Capital made back their money. I can't see how that's not a conflict of interest.
Of course people were going to speculate that the difficulties surrounding the buying (but not selling) of gamestop shares had ulterior motives. Citadel as a market maker should not have financial incentives towards any one player in the market. This needs to be looked into much more thoroughly.
exactly, there is nothing new in this report... reading reddit/twitter provides these information, so funny when people using robinhood still defending it believing they own all that dogecoin of the biggest wallet.... which actually stopped buying before the last leg up...meaning they are f up even if thats a rh wallet. currently price is still 3.5X from there
lol even Patrick called the people conspiracyterrorists yet everything came out to be true so far...lot of people bought the stock because they like the company? bs they bought because f melvin and the shorters using shady ways
@@hegyesipeter5457 I see that joke flew over your head. Back at peak gme volatility, everyone would say "I like the stock."
@@templarknight7 yeah it did
Great analysis! Thank you
Awesome knowledge being shared. Delighted 😄
I don’t buy it but I do buy more and hold.
How’s that going for ya?
The conspiracy theory about this SEC report is that it was written by Citadel's Ken Griffin
what i was thinking as well. who can trust the SEC?!?!?!?
ken griffin and gary ginsler play golf together every weekend
Brilliant content, very insightful
Great upload Patrick. Salute.
An explanation on how it is totally reasonable and usual to halt trading in an extremely volatile stock and market. But I must have missed the explanation on how it is reasonable and justified to only halt ONE SIDE of a trade. I have to say I am somewhat disappointed.
Markets aren’t free and people like Patrick never question these things cos they are as greedy as everyone else when it suits them. The hypocrisy is the real issue and it’s the whole system, something people like him who have devoted all their energy towards will never admit to themselves.
What about just learn something outside reddit? Brokers need to have their own money deposited during all buy trade and Robinhood just did not have enought capital to back this trades.
So in conclusion, they liked the stock
Thanks Patrick!
this guy deliver jokes with a straight face, makes it even funnier!
Short interest in GME is now a "mere" 12.45% from short interest in GME of 42 % while having a 53.8% ownership by the retail public......This is a no brainer short...however it is hard to short a no brainer when owners have no brain.....hence this is just another Tesla or Peloton stock.....This stock is 90% psychology/momentum and 10% fundamentals, so in many ways, it doesn't matter what the quarterly results are....btw another amazing vid
Fundamentals for you: no debt, 1,7 billion in cash, top executives picked from top companies lead by a guy that already have a billion dollar success in his portfolio fromthe start.
Just short it, go ahead, your margin call will be additional fuel for us
@@ThundaAaAaAaAaAh you're so cringe and people like you want to make me sell half my position
@@stever4233 so sell it, idgaf, tell me where I am wrong instead of pulling shitty cringe comments
yeyyyy another learning from a Great Source 😊
Thank you Patrick
Love the stone-faced invitation to the SEC to smash the stoc... like button
Patrick you are the man, I wish when I was in college for finance I could have taken a class from you. Absolutely love the content.
Nice of the SEC to help Ken Griffin get his story straight, lol.
Your channel is awesome I love your sense of humor
Always appreciate your perspectives on these events Patrick, thanks!
If the sec is reported a si of just over 100% back in Jan/feb, why did rhs official statement/deposition say that gme short interest was over 200% in February? We’re they wrong? Why are so many individuals telling people to sell sell sell if there is no concern for a run up due to si?
Reread the section of the GME report regarding naked short-selling and you are incorrect. The SEC concluded that FTD's was an imperfect measure of naked short-selling, not that it wasn't occurring.
Hi Patrick, very informative thanks!
I don't understand where the > 100% short of the stock was addressed?
Hahahaha! I just found this channel and loving it!