MELVIN BET/LOST AND GOT BAILED OUT THROUGH FRAUD AND CRIMINAL BEHAVIOR. LOSSES WERE UNLIMITED SO THEY PUT THE WHOLE SYSTEM AT RISK. FINE, THEY LET THEM STOP THE BUYING. BUT NOW THEY MUST PUT A STOP TO SHORT SELLING TO >100%, HAVE RULES SO THAT MARGIN CALLS WILL OCCUR SOONER BEFORE SYSTEMIC RISK, AND BANKRUPT/IMPRISON VLAD, PLOTKIN, GRIFFIN. VOTERS WILL REMEMBER WHO STOOD UP FOR ROARING KITTY AND WHO STOOD UP FOR BILLIONAIRES.
It wouldn't surprise me honestly. There are a bunch of crazy people on the internet. While the majority likes to bust someone's balls when he/she does something stupid. The most what I saw was people making fun of Melvin Capital losing money. There is always those one or two rotten apples that use that as an excuse to threaten that person. And of course those are used in moments like these to make the entirety of WSB look bad. Even though we're talking about a couple guys in a group that has millions of members.
This guy thinks he's so smart and think the aggregate are dumb. You're not fooling anyone... you got creamed, had your pants down and you needed big brother to bail you out because what you thought you were doing was smart but actually it was dumb.
@@alexm566 IF they were found to have committed a crime, they will just pay some fine less than what they make in a few days, sitting around in their office.
Yeah you don't have any right to that. Random people asking for proof of things they have no business with. Also every fund with 100m+ has to disclose all their positions and when they entered and exited so why would he come and lie ?
why not read a prewritten speech by a lawyer, the whole things a joke anyways. not a single change or arrest will come of this, maybe just some fines that the govt will refund the penalized multiple times over
Yeah.. its pretty funny. Why cant someone just be honest and say "yeah I was born rich and I enjoy the stockmarket because it makes me even wealthier. Im not gonna apoligize for this or anything. You can do it as well but most do not want to lose money, even if it can make them money".
I have seen every single post about Melvin cap and there have been non anti Semitic comments to Melvin I’ve been a member of WSB since 600k follows. We just like the stock.
@@ugoekwegh4581 one is called bailing out and one is called investing into a company. Sure, it might be seen as a bail out because they happened to invest right now instead of idk a month from now
@@greenpillow17 I guess you are bailed out every month by your job then by that definition. Cuz you are almost broke and then they "step in" and send you money because they believe you will make them a return the next month as well. Just like Citadel believes Melvin will make them a return over the next years. But sure, you can call that a bail out if you want. A salary is a bail out by that definition.
Bro you can't just hire an intern to post those hate comments on the subreddit, 1 out of a million comments that probably got downvoted to hell, and say that's the general opinion lmao wtf you trying to say bro
I dont agree with him and what his company have done at all, but cmon. When it comes to hate comments like that i would believe him. Those comments are more common than 1 in a million and you know it. You cant evdn win 1 game of Fight Night or Madden etc without your opponent threatening to R**e your whole family or saying "you fight like a N*****r" etc It doesnt mean all Gamers and Reddit users are like that but there is a % of them that dont interact with people in the real world. The comments he says are anti semitic. If youre telling me you dont see that once every so often online i am calling you a liar and not him.
@@EddieHypemanHearn Did you see when the Reddit CEO spoke right after and said no such comment was found? Saying the only one even remotely close was posted, received no votes, and was deleted after 5 minutes?
@@EddieHypemanHearn yes they exist everywhere online, I agree with you. Not to downplay them, but it's basically internet noise at this point. I am against him weaponizing them to make him seem like the victim of a hate group, when in all actuality it's a lot of infrequent individuals that are frowned upon. It's not the general sentiment whatsoever
Yes it does. Ability to raise capital markets is critical for public markets. If you have to dilute aggressively to raise sufficient capital, it puts further headwind on stock price, driving the company into the ground.
Melvins position was completely and entirely logical. Would you have shorted blockbuster in its final years? I would, the company was simply not sustainable. This is purely business-and making the most financially profitable decision is why billions are entrusted to him. I own shares of GME now, but triple digit prices is something very very few ever expected to see.
His "friends" are motivated by self interest. No one would risk billions of dollars for friendship. They recognize the profit potential is higher than the relative risk, hence they invested. Not different to Burry investing in GME.
Gabe Plotkin, Steve Cohen, Ken Griffin should be barred from participating in markets for 10 years, if not imprisoned. Along the the governors/officials at the DTCC and SEC that sanctioned this behavior.
Every person working for the sec is a crook. As is our government officials. So much fraud is committed by HF sharks, but little action will ever be taken against them. If anyone gets ousted for market manipulation it will be the minnows
Ceo of Melvin Capital: “We short stocks and follow the laws to do so” Also Melvin Capital : Shorted GameStop By Manipulating The Market to Make GME Go From $350 To $42 XD
@@BristolBerg How was it possible for him to make $800m+ in 2020? Even if he charged 2% like most hedge funds, he would need to have $40 billion AUM if i calculate correct. If he recently lost 50% and now has $9B AUM left than he had max $18B AUM at the end of 2020 which was their peak but that amount seems to low for him to make $800m that year so how was that possible you think?
@@mikev324 Well all hedge funds have a different way of compensation, some charge between 1% to 3% AUM fees. But the hedge mostly makes their money through performance fees on the capital gains they have made for their investor.
We weren't bailed out by Citadel, they just gave us money so we didn't get margin called and cause a chain reaction bankrupting Citadel and other market makers and firms.
Is this the same guy who committed insider trading when he worked at steve cohen's hedge fund? The guy referred to as "Portfolio Manager B"? Just wondering.
"There are laws governing shorting stocks" Ok fam. _Then how did you _*_legally_*_ short the company by 140%?_ But nobody seems to have wanted to ask/follow up on this question.
I might be reading too much into this, but at 4:35 could someone read that body language, specifically that eye twitch, as a sign of telling a lie? I'm not in the FBI or CIA and have no training, but it stood out to me!
Hey Plotkin, what's the XRT ETF? What's the primary holding in that ETF? WHY IS THAT ETF 199% SHORTED? How can 199% of an ETF be shorted and WHY would it be?
Lol, this guy pulled the old corrupt politician excuse. "I wasnt bribed by xyz company! They just *donate* money to me because they believe in my stances" LOOOL
I don't understand why this 'melvin' guy is seen as a villian in this. Plenty of hedge funds were long GME and made hundreds of millions from it. Much more likely they triggered the squeeze and not reddit IMO.
They shorted more stocks than existed.. That is illegal. That was the whole point. Either they pay up or they do something illegal to not pay up. It is a win/win if the politicians will actually do their job.
Look at up history of sac capital before you speak And it’s the stock market , a homeless guys doesn’t own stuff , so obviously the big winners are going to be funds
@@MrTopparwear "They shorted more stocks than existed" Stop talking nonsense you heard from redditards who don't know how the financial system works. The entire system is based on notional values. Whenever you dimwits post such stuff the only thing it proves is your lack of knowledge.
@@cp3190 I'll just rely on the SEC failure to deliver data to make up my mind. You are right that I'm not going to listen to a mongo in a youtube comment section 😂
He's talking out his ass. I got blocked for saying what's up my @#&£#& and again for explaining the origins of the German joy division in the context of not wanting people to get sexually assaulted with losses. Bad taste maybe but it's for sure not racist and wasn't a response to anything antisemitic but I still got post blocked. I wanna see proof of his claims
The sob story of his middle class upbringing, his gramps, his kids and all the people he employs doesn't hold any water because the issue at steak is bigger than Melvin Capital and the CEOs modest upbringing. It is the inherent problem of money making and distributing wealth upwards from value adding companies to non-value adding hedge funds.
Opening up with the ole working class family... I’m one of you ha. Investors are retirees and medical professionals, give it a rest Gabe, you honestly thing people will like you and side with you. You’re overpaid for what you contribute. Hard working people losing their lives 2020 and 2021 while you and your likes steam roll the little guy to build your beachfront mega mansions.
@@likemysnopp I make plenty of money , more than I need and enough to provide for my family, live in comfort. Harming nobody, and there is a physical outcome from what I do. I’m very happy with what I do, and will continue doing because it’s needed, right and necessary. I respect most people earning more than me, I look up to most of them. Gabe ... and his likes... there is literally no need for them. They mess up more often than not and it will be money in my pocket used to bail him out. You keep looking up to him though, clever of you .
@@likemysnopp plain as day what they do, and on this incident they got caught, lost huge and now have to change the rules in their favour to claw it back. Losers
They closed the positions days before those limitations. Sure, but did citadel seeing half the order flow every day tell them, and warn him to do this ahead of time because obviously citadel doing pay for order flow basically knows everything. Oh right maybe he left that part out because its not technically lying. The entire market and all these players are wrapped together. They help each other at times like this where they all stand to lose everything. Other smaller players found out later, and eventually RH shut down buy orders.
Very interesting blank back drop to the video. I met a CEO of a hedge fund in Austin. He had tons of cool stuff in his office. Autographed memorabilia you name it yet this guy in the video had nothing up. Reminds me of those crime shows when their lawyers make the killers where glasses in court.
yeah right. He totally didn't protect his investor by over shorting one stock. There are definite risks there. They are handling someone else's money where as retail traders are handling their own money and can do what they want with their money at their own risk. Cherry picking information about how retail investors lost money and though I feel bad you were targeted and shouldn't happen with regards to these name callings that he said was directed towards him doesn't represent everyone. Retail investors are not one entity, and can't make final decisions together but institution can gather all their capital together and attack a company directly with all the capital because they control all their investors capital and make decisions on their behalf. Retail investors can't have one person gather all their capital together and attack a company. It is much much harder.
Conveniently ignored about excessive shorting and consequence of bankrupting a company with no sympathy for business (primary brick & motor) to get thru pandemic. I hv no love for GME but no hate either - please give the old companies some breather and let them grow or fall based on their business fundamentals not by exaggerated shorting. Unsympathetic shorting investment firms need this lesson
Ur a billionaire, mr. Plotkin, can you please not read ur weak, prepared statement with the cadence and tone of a 14 year old delivering an oral report on "a tale of two cities"?
This man needs to be in jail. All of a sudden these geniuses need regulation. They've been squeezing people out by huge shorts. The comrades did the opposite. They literally unplugged the console when being down. It's disgusting.
"none of melvins short positions are part of any effort to artificially depress or manipulate down the price of the stock"....so they open a short position and sit and wait for the cards to land as they may, with their hands politely folded in their lap? i doubt it. especially when the short position exceeds the total float. when the entire float gets traded in a week...there is no effective oversight by any one here and when the DOJ finally gets around to it, the penalties will not fit the crime, we all know this.
I have been thinking this since it all started, by simply hedging their position, they could've saved millions of dollars. I think he's lying in front of the public that they lost money just to look emotional.
Interactive brokers chair seems to contradict his testimony. He said shorts are still covering when trade was halted, maybe he closed out by selling his short position to someone else, or new short positions came in. Either way, there seems to be a contradiction.
Looks like his ego has been battered, what utter trash coming out of his mouth. The company main goal is money and target vulnerable companies, has zero positive impact to the local economy
Throwing the anti Semitic card out there, what a coward.
tell me about it
I was thinking the same thing!!
Facts
He is an idiot. How are you going to speak the few as for all.
@jackshit33 there was only one anti-semitic post, and it got heavily downvoted
Says they weren’t bailed out by Citadel, goes on to describe bring bailed out by Citadel.
JAIL for Securities Fraud and Collusion for VLAD, GRIFFIN, PLOTKIN, PSAKI
MELVIN BET/LOST AND GOT BAILED OUT THROUGH FRAUD AND CRIMINAL BEHAVIOR. LOSSES WERE UNLIMITED SO THEY PUT THE WHOLE SYSTEM AT RISK. FINE, THEY LET THEM STOP THE BUYING. BUT NOW THEY MUST PUT A STOP TO SHORT SELLING TO >100%, HAVE RULES SO THAT MARGIN CALLS WILL OCCUR SOONER BEFORE SYSTEMIC RISK, AND BANKRUPT/IMPRISON VLAD, PLOTKIN, GRIFFIN. VOTERS WILL REMEMBER WHO STOOD UP FOR ROARING KITTY AND WHO STOOD UP FOR BILLIONAIRES.
@@bilyonarelifestile2226 lol How did the Whitehouse Press Secretary get involved in this. Also stop shouting.
@@TheUMESH34 google it
Lmao 😂 exactly!!
I was on WSB a lot and never saw or read any racist or bigoted content. It’s just people discussing stocks.
He’s trying to c huh name the narrative or play the discord narrative
Stonks
It wouldn't surprise me honestly. There are a bunch of crazy people on the internet. While the majority likes to bust someone's balls when he/she does something stupid. The most what I saw was people making fun of Melvin Capital losing money. There is always those one or two rotten apples that use that as an excuse to threaten that person. And of course those are used in moments like these to make the entirety of WSB look bad. Even though we're talking about a couple guys in a group that has millions of members.
I like how everyone just reads what their lawyers give them now
He’s trying to talk about anti Semitic post. Brooooooo what a force
This guy thinks he's so smart and think the aggregate are dumb. You're not fooling anyone... you got creamed, had your pants down and you needed big brother to bail you out because what you thought you were doing was smart but actually it was dumb.
He would be right in that assessment. The Reddit heard identify themselves as “retard$”
Ultimately who lost ? The retail investor.
This guy is going to go back to his 50million house and have a net worth of 100s of millions of dollars.
@@cp3190 well then what should regular ppl do? Keep getting jammed? It’s wayy to rigged what should we do?
@@lockiet7227
Who is asking you to trade ? Put your money in an ETF and relax.
@@cp3190 No.He`s got a net worth of billions of dollars.
Not bailed out, but Citadel “invested”. Yeah sure...
"Invested" in helping us cover our positions and crash the stock.
Who tf would invest in a company that lost 12B, lol my ass they invested
I remember back in 1988 when Ford invested in Chevy. I also heard that Apple is going to invest 300 billion in SAMSUNG.
"We closed our positions"
Yeah I'm gonna need proof of that.
lying to congress isn't a crime?
@@alexm566 You think these guys care about the law?
@@alexm566 IF they were found to have committed a crime, they will just pay some fine less than what they make in a few days, sitting around in their office.
Yeah you don't have any right to that.
Random people asking for proof of things they have no business with.
Also every fund with 100m+ has to disclose all their positions and when they entered and exited so why would he come and lie ?
@@cp3190 then where is the proof? You sound like a hedgie
I don't believe a single word that came out of his mouth. It sounds like he read verbatimly from his laptop.
why not read a prewritten speech by a lawyer, the whole things a joke anyways. not a single change or arrest will come of this, maybe just some fines that the govt will refund the penalized multiple times over
@@catiex8826 anyways isn’t a word
@@catiex8826 no fraud, no crime, nothing to press charges about. They took advantage of the system
Lmao I love that everybody on this call wants to push the middle class not rich card.
Yeah.. its pretty funny. Why cant someone just be honest and say "yeah I was born rich and I enjoy the stockmarket because it makes me even wealthier. Im not gonna apoligize for this or anything. You can do it as well but most do not want to lose money, even if it can make them money".
Enough with the monologues about your working class backgrounds.
I have seen every single post about Melvin cap and there have been non anti Semitic comments to Melvin I’ve been a member of WSB since 600k follows. We just like the stock.
AMC and gme about to go brrrrrr
I hate semi's. They are large and scary. I am anti-semi. That's the best I can do. 😁
"We are not 'bailed out', we simply took the money invested by Citadel to close the bleeding position so we won't get bankrupt"
there is a difference
@@likemysnopp there is no difference
@@ugoekwegh4581 one is called bailing out and one is called investing into a company. Sure, it might be seen as a bail out because they happened to invest right now instead of idk a month from now
@@likemysnopp it was a bail out
@@greenpillow17 I guess you are bailed out every month by your job then by that definition. Cuz you are almost broke and then they "step in" and send you money because they believe you will make them a return the next month as well. Just like Citadel believes Melvin will make them a return over the next years. But sure, you can call that a bail out if you want. A salary is a bail out by that definition.
Bro you can't just hire an intern to post those hate comments on the subreddit, 1 out of a million comments that probably got downvoted to hell, and say that's the general opinion lmao wtf you trying to say bro
I dont agree with him and what his company have done at all, but cmon. When it comes to hate comments like that i would believe him. Those comments are more common than 1 in a million and you know it. You cant evdn win 1 game of Fight Night or Madden etc without your opponent threatening to R**e your whole family or saying "you fight like a N*****r" etc It doesnt mean all Gamers and Reddit users are like that but there is a % of them that dont interact with people in the real world.
The comments he says are anti semitic. If youre telling me you dont see that once every so often online i am calling you a liar and not him.
@@EddieHypemanHearn Did you see when the Reddit CEO spoke right after and said no such comment was found? Saying the only one even remotely close was posted, received no votes, and was deleted after 5 minutes?
@@EddieHypemanHearn Huffman made a counterargument with the anti-Semitic claim right after Plotkins' introduction, did you even watch the hearing?
@@EddieHypemanHearn yes they exist everywhere online, I agree with you. Not to downplay them, but it's basically internet noise at this point. I am against him weaponizing them to make him seem like the victim of a hate group, when in all actuality it's a lot of infrequent individuals that are frowned upon. It's not the general sentiment whatsoever
“Taking care of customers ...and trying to bankrupt GameStop”
Shorting doesn’t contribute to bankruptcy
Yes it does. Ability to raise capital markets is critical for public markets. If you have to dilute aggressively to raise sufficient capital, it puts further headwind on stock price, driving the company into the ground.
Melvins position was completely and entirely logical. Would you have shorted blockbuster in its final years? I would, the company was simply not sustainable. This is purely business-and making the most financially profitable decision is why billions are entrusted to him. I own shares of GME now, but triple digit prices is something very very few ever expected to see.
@@abelgreen5046 AMC nor gme are done watch
@@marissadaubenspeck9255 I never said they were....
CNBC big propaganda for citadel
WE NEEDED TO STOP REDDIT BECAUSE THEY WERE RACIST AGAINST MY RICH FRIENDS. GTFOH
"Melvin Capital was not bailed out"... We just sold all the stuff in my office except the printer.
that's actually part of his strat to gain sympathy from the regulators during the hearing.
Parsing words like Fauxci with gain of function. Lawd
He lies! Without the cash, Melvin could not close his GME short. He is lucky to have such good friends.
Well his friends print money and don't mind turning America into Venezuela
Exactly this makes no sense dude...they had to revuy the stocks...this makes no sense
they never closed their position
@@laurentpompairacgentil3461 Plotkin said he closed his GME short during the Congressional hearing.
His "friends" are motivated by self interest. No one would risk billions of dollars for friendship. They recognize the profit potential is higher than the relative risk, hence they invested. Not different to Burry investing in GME.
Is he reading his book report that he wrote last night before his oral presentation?
yeah, just like most who do anything like this.
He has 5 lawyers in the room.
Omfg RIGHT?! I just said the same thing!!!
Yup, most likely he and his lawyer(s) wrote that down beforehand, he is obviously reading.
@@Incognit0777 well yeah obviously, but he gotta work on his tone and cadence so he doesnt *sound* like hes reading from a paper.
Lmao we werent bailed out, we were just bailed out with extra steps
Bailed out by Citadel and Stevie.
yea we go long to help the economy, but you just shorted a company with thousands of employees, hoping it will go bankrupt.
Imagina that what’s so annoying retail investors being blame for it. Crooked crooked crooked people and the law back them up
He's willing to do what it takes to make sure this never happens again,. Like bribing, I mean donating, to politicians.
Gabe Plotkin, Steve Cohen, Ken Griffin should be barred from participating in markets for 10 years, if not imprisoned. Along the the governors/officials at the DTCC and SEC that sanctioned this behavior.
Jail!
Every person working for the sec is a crook. As is our government officials. So much fraud is committed by HF sharks, but little action will ever be taken against them. If anyone gets ousted for market manipulation it will be the minnows
If only
Ceo of Melvin Capital: “We short stocks and follow the laws to do so”
Also Melvin Capital : Shorted GameStop By Manipulating The Market to Make GME Go From $350 To $42 XD
BAHAHAHAHHAHAHA HILARIOUS! do you want a cookie now little kid?
Subpoena everything. Phone records, emails, financial statements, text messages, and employee statements under oath.
At least try to act like you're not reading it and you mean it.
Gabe Plotkin's office looks cleaned out. Probably had to sell everything to stay afloat.
This fellow represents all that is wrong in the industry...
No. He runs a great firm that people rarely leave. I’d give my left nut to work at Melvin
@@willard2729 really ?
The art of lying without lying. He's correct Melvin wasn't bailed out by Citadel it was bailed out by the Clearing House ran by Citadel.
*Art of manipulation
This is only part of whole hearing I have no trust to.
I have no trust to your grammar teacher
This is what is called lying through one’s teeth!
I think they really went broke lol that office looks really empty.
He made $800m+ as compensation in 2020 and still manages $9B aum. Who is really taking the L?
@@BristolBerg How was it possible for him to make $800m+ in 2020? Even if he charged 2% like most hedge funds, he would need to have $40 billion AUM if i calculate correct. If he recently lost 50% and now has $9B AUM left than he had max $18B AUM at the end of 2020 which was their peak but that amount seems to low for him to make $800m that year so how was that possible you think?
@@mikev324 Well all hedge funds have a different way of compensation, some charge between 1% to 3% AUM fees. But the hedge mostly makes their money through performance fees on the capital gains they have made for their investor.
He downplayed his office to make himself look humble imo
@@NBSKEV exactly. I'm guessing every knick knack he has is so ostentatious that everything but the printer had to be removed from view.
We weren't bailed out by Citadel, they just gave us money so we didn't get margin called and cause a chain reaction bankrupting Citadel and other market makers and firms.
Now I understand why my American colleagues waste a lot of time talking about unrelated issues in meetings.
Why
Ah we got an autistic kid here everybody
Dumb Money
Is this the same guy who committed insider trading when he worked at steve cohen's hedge fund? The guy referred to as "Portfolio Manager B"? Just wondering.
Yup
Behavioural experts disagree Gabriel... body language tells a different tale
How is it protecting your investors to short a stock so massively? Seems like he got reckless
gains, duh.
Greed
@@Tiempi greed breeds innovation so I dont see anything wrong in greed
@@likemysnopp and downfall of most
@@Tiempi sure, how is that factory you working at doing? Have the "greedy" owner lost his job?
Send Plotkin, Griffin and Vlad to prison
Soooooo what you’re telling me Gabriel is, throwing millions upon millions of dollars at shorting a stock does not drive the price of a stock down?
Claims to want to continue his grandfathers practice of hard work and ethics and shorts a stock at 140%
"There are laws governing shorting stocks"
Ok fam. _Then how did you _*_legally_*_ short the company by 140%?_
But nobody seems to have wanted to ask/follow up on this question.
Looks like a guy who just lost a few billion to some 16 year old gamers on fortnight
poor family and worked hard to go to college what a joke trust fund kids in Harvard really have the balls to lie like that
GME to the moooooooon 🚀🚀🚀
I might be reading too much into this, but at 4:35 could someone read that body language, specifically that eye twitch, as a sign of telling a lie? I'm not in the FBI or CIA and have no training, but it stood out to me!
the office looks like it was cleaned out. No pictures, no tv, no desk decorations or anything.
Staged...
Maybe he was in an actual office and not your god damn livingroom
Look who’s talking about integrity.
This guy got humbled! He will never make this mistake again! If I were an investor I would be running from this guys firm.
If you were an investor that is. IF
He didn't learn his lesson. He didnt close his positions and he shorted the stock some more lol
"There are laws concerning shorts, and we follow all of them." MC 🤣🤣🤣🤣🤣🤣
Hey Plotkin, what's the XRT ETF? What's the primary holding in that ETF? WHY IS THAT ETF 199% SHORTED? How can 199% of an ETF be shorted and WHY would it be?
go and read a book and youll learn exactly how that works.
So Citadel could cover Melvin capital, but they couldn’t cover robinhood?
Definitely went to a public school, can’t even make his script sound genuine 😅
Seems to me Gabe doesn't speak truth talking about Melvin covering their position at 4:36 - 4:40. Sideway look and wink afterwards..your take on this?
Lol, this guy pulled the old corrupt politician excuse. "I wasnt bribed by xyz company! They just *donate* money to me because they believe in my stances" LOOOL
I don't understand why this 'melvin' guy is seen as a villian in this. Plenty of hedge funds were long GME and made hundreds of millions from it. Much more likely they triggered the squeeze and not reddit IMO.
They shorted more stocks than existed.. That is illegal. That was the whole point. Either they pay up or they do something illegal to not pay up. It is a win/win if the politicians will actually do their job.
Look at up history of sac capital before you speak
And it’s the stock market , a homeless guys doesn’t own stuff , so obviously the big winners are going to be funds
@@MrTopparwear
"They shorted more stocks than existed"
Stop talking nonsense you heard from redditards who don't know how the financial system works.
The entire system is based on notional values.
Whenever you dimwits post such stuff the only thing it proves is your lack of knowledge.
@@cp3190 You able to name any stock that has ever existed that's been shorted more then gamestop was?
@@cp3190 I'll just rely on the SEC failure to deliver data to make up my mind. You are right that I'm not going to listen to a mongo in a youtube comment section 😂
Ah yes, the old anti-semitic card...poorly played. Shyster.
He's talking out his ass. I got blocked for saying what's up my @#&£#& and again for explaining the origins of the German joy division in the context of not wanting people to get sexually assaulted with losses. Bad taste maybe but it's for sure not racist and wasn't a response to anything antisemitic but I still got post blocked. I wanna see proof of his claims
The sob story of his middle class upbringing, his gramps, his kids and all the people he employs doesn't hold any water because the issue at steak is bigger than Melvin Capital and the CEOs modest upbringing. It is the inherent problem of money making and distributing wealth upwards from value adding companies to non-value adding hedge funds.
give that man an Oscar for the straight face.I would have died laughing saying what he said🤣🤣🤣🤣🤣🤣🤣🤣
Only down 49 % good work Ken and friends
Opening up with the ole working class family... I’m one of you ha. Investors are retirees and medical professionals, give it a rest Gabe, you honestly thing people will like you and side with you. You’re overpaid for what you contribute. Hard working people losing their lives 2020 and 2021 while you and your likes steam roll the little guy to build your beachfront mega mansions.
Ah yes be angry at other people because they do something which makes them more money then you. Gotta love this philosophy.
@@likemysnopp I make plenty of money , more than I need and enough to provide for my family, live in comfort. Harming nobody, and there is a physical outcome from what I do. I’m very happy with what I do, and will continue doing because it’s needed, right and necessary. I respect most people earning more than me, I look up to most of them. Gabe ... and his likes... there is literally no need for them. They mess up more often than not and it will be money in my pocket used to bail him out. You keep looking up to him though, clever of you .
@@likemysnopp do you think I should look up to smack dealers and the mafia? Dim wit
@@0223eoin You clearly do not understand what Melvin Capital and other investment companies do.
@@likemysnopp plain as day what they do, and on this incident they got caught, lost huge and now have to change the rules in their favour to claw it back. Losers
They closed the positions days before those limitations. Sure, but did citadel seeing half the order flow every day tell them, and warn him to do this ahead of time because obviously citadel doing pay for order flow basically knows everything. Oh right maybe he left that part out because its not technically lying. The entire market and all these players are wrapped together. They help each other at times like this where they all stand to lose everything. Other smaller players found out later, and eventually RH shut down buy orders.
Lol, now I can see why reddit chose Melvin Capital as a target. No sympathy for this shell of a human, adios amigo.
Very interesting blank back drop to the video. I met a CEO of a hedge fund in Austin. He had tons of cool stuff in his office. Autographed memorabilia you name it yet this guy in the video had nothing up. Reminds me of those crime shows when their lawyers make the killers where glasses in court.
No one called you anti semitic things. Wheres the screenshots? Everyone knows no receipts no game.
This will make history and go to unimaginable heights. That is all. 🦍💎👑
Reading your comment now seeing the movie about it! Absolutely crazy!
This has aged so well.
Au Revoir and good riddance Gabe ;)
Come after seeing dump money
1:00 he said malvin closed gme position before robinhood shut down a buy button, but yeat they went bankrupt
Wait.. let’s hear him out.. I mean for goodness sake, HE WENT TO PUBLIC SCHOOL!! Foh
What a disgusting company
That anti semetic card is really getting old............. really old
They didnt close their positions. The squeeze aint squoze. Also vlad tenev 4 jail.
Plotkin's wife's new boyfriend is DFV
We weren't bailed out. They just made an investment in our undervalued company.
What a great time to buy! HOW DETACHED FROM REALITY ARE THESE CLOWNS.
yeah right. He totally didn't protect his investor by over shorting one stock. There are definite risks there. They are handling someone else's money where as retail traders are handling their own money and can do what they want with their money at their own risk. Cherry picking information about how retail investors lost money and though I feel bad you were targeted and shouldn't happen with regards to these name callings that he said was directed towards him doesn't represent everyone. Retail investors are not one entity, and can't make final decisions together but institution can gather all their capital together and attack a company directly with all the capital because they control all their investors capital and make decisions on their behalf. Retail investors can't have one person gather all their capital together and attack a company. It is much much harder.
All of a sudden everyone is working class 😂
Narrator: They were.
1:27 "when I was a little boy in Bulgaria"
Conveniently ignored about excessive shorting and consequence of bankrupting a company with no sympathy for business (primary brick & motor) to get thru pandemic. I hv no love for GME but no hate either - please give the old companies some breather and let them grow or fall based on their business fundamentals not by exaggerated shorting. Unsympathetic shorting investment firms need this lesson
Wow, this guy really thinks he is better than everyone else? So glad they lost so much in gme, dfv is legend, I hope melvin capital will go bk soon
Yeah, that was evident when he shouted im so much better than everyone
Can anyone confirm that Melvin closed their short positions? I was under the impression that there was strong suspicion that they are still in deep.
They didn’t.
you got rumbled
reading... :) why ? no need reading if you are sure of something
At least it wasn't the government that bailed them out.
yet.
00:47 did somebody lie to congress?
Hahaha and he’s reading from a screen dudes a clown
“My investors, MANY investors on all sides have experienced loses” nice cover up
Ur a billionaire, mr. Plotkin, can you please not read ur weak, prepared statement with the cadence and tone of a 14 year old delivering an oral report on "a tale of two cities"?
This man needs to be in jail. All of a sudden these geniuses need regulation. They've been squeezing people out by huge shorts. The comrades did the opposite. They literally unplugged the console when being down. It's disgusting.
"none of melvins short positions are part of any effort to artificially depress or manipulate down the price of the stock"....so they open a short position and sit and wait for the cards to land as they may, with their hands politely folded in their lap? i doubt it. especially when the short position exceeds the total float. when the entire float gets traded in a week...there is no effective oversight by any one here and when the DOJ finally gets around to it, the penalties will not fit the crime, we all know this.
AMC 🦧 GME 🦧
Why didn’t you protect your short positions with far out of the money calls?
I have been thinking this since it all started, by simply hedging their position, they could've saved millions of dollars. I think he's lying in front of the public that they lost money just to look emotional.
Don’t be ashamed about where you are today. It doesn’t matter where you are from or if you came from wealth or not. It’s capitalism.
Interactive brokers chair seems to contradict his testimony. He said shorts are still covering when trade was halted, maybe he closed out by selling his short position to someone else, or new short positions came in. Either way, there seems to be a contradiction.
Melvin will go out like the wolf of wallstreet in the gamestop movie
Roaring Kitty’s son
Go directly to jail. Do not pass Go. Do not collect $200
Looks like his ego has been battered, what utter trash coming out of his mouth. The company main goal is money and target vulnerable companies, has zero positive impact to the local economy