HIGHLY TIME SENSITIVE: #DefundWallStreet & #DrainTheRealSwamp
I’m working on a thorough explainer for everything happening with GameStop stock (GME) and the market right now, but the short version is that you have an extremely time-sensitive opportunity to make history, force Wall Street reform, and bag an little cash.
There’s a lot of PR coming from hedge funds through mainstream media that’s designed to confuse and scare you away from GME, or make you think this is about Reddit, but the reality is that short float for GME remains at 64.57% (via Ortex, which uses real-time data unlike the sources still listing 120% or 140%)—a ratio so high that if enough little guys buy even just one share Monday and hold to $10,000–with no stop loss, refusing to sell whether the price goes to $100, $500, $2,000, $5,000, or even $8,000—the inevitable short squeeze will bankrupt Citadel and force unprecedented Wall Street reform. Oh, and you will redistribute $10,000 from Wall Street’s coffers to your own. I trust you to spend it more wisely 😊
The Big Guys bet so big and so recklessly that we caught them in a bubble similar to the housing bubble in 2008, but small enough that it won’t destroy the economy if we catch them red-handed right now, let them eat the massive loss their irresponsible strategy exposed them to, and demand that they stop gambling with our future before taxpayers get stuck with another TRILLION dollar bill.
Citadel—a market maker through whom 40% of all US trades pass, who also happens to hold GME shorts through their interest in Melvin Capital—illegally manipulated the market last Thursday, and they will pull dirty tricks all week to scare little guys into selling because they’re up against the wall. If every American that can afford to risk a few hundred dollars buys at least one share ASAP and holds it without a stop loss or limit sell order under $10,000, a history-making short squeeze is inevitable, and it will blow open just how little has changed since irresponsible gamblers plunged us into the Great Recession. (also turn off margin trading or ask your broker not to lend your shares if you can)
If you think $10,000’s unrealistic, know that people have screenshots of orders filled at $2,600 and $4,400 Thursday, and buy asks up to $5,000 before Citadel broke the law and refused to fill buy-side retail orders to stop the squeeze. Remember—those are the very early prices of a near-vertical squeeze. $10,000 is actually extremely conservative—if this squeeze played out like the VW squeeze in 2008, it’d peak over $34,000 if everyone held and refused to sell long enough. And VW had short float under 30%!
It’d be smarter for everyone to hold beyond $10,000, but if we shoot for infinity people will get anxious and greedy and cash out early, basically giving hedge funds an easy out and sticking patient shareholders with lower demand and a slower, flatter squeeze.
We all hold the line at $10,000 per GME share. You don’t have to worry about being left “holding the bag” in a crash, because Kjetill Stjerne pledged $640 million to GME that he’ll hold through the peak, only selling some once the price has returned to within 25% of the prior day close. In other words, he’s pledged to hold the bag for the movement, so smaller investors don’t have to risk losing theirs if they “wait too long” to sell: https://www.reddit.com/r/wallstreetbets/comments/l8y27e/gme_viking_to_the_rescue/?utm_source=share&utm_medium=ios_app&utm_name=iossmf | https://www.reddit.com/r/wallstreetbets/comments/l8x0rq/we_cant_win_this_war_on_our_own_but_we_have_a_big/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Don’t sell yourself short or sell out the rest of us for a penny less than $10,000.
Because nothing is 100% guaranteed, and the Big Boys have already tried to cheat their way out of the inevitable, think of your cost basis as a #DefundWallStreet #DrainTheRealSwamp campaign donation that has a real shot at holding Wall Street accountable and keeping Main Street safe from future corruption and bailouts, with the bonus likelihood of netting you some crazy ROI.
You have to hold no matter how wildly the price thrashes on its way to $10,000, because next week will be full of short ladder attacks designed to scare you into thinking the price is crashing and trigger stop losses. Citadel tried this Thursday—artificially depressing demand by refusing to fill buy-side orders from their brokerages. You might have heard less incriminating explanations for the trade restrictions, but the CEO of TradeZero blew the whistle: https://www.reddit.com/r/wallstreetbets/comments/l926o5/tradezero_defended_our_right_to_buy_stonks_rh/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
And you have to buy Monday morning, or as soon as you see this. We need buy pressure to light the fuse. If the price is more than you can afford, use a limit order at the price you can; we are likely to see dips, and you might get a share for $250 or even $150. Some brokers also allow you to buy fractional shares. Don’t buy on margin if you can pay cash, so they can’t force you to sell with a margin call. Do what you can. If you can’t buy, call everyone you know who can and make sure they understand what’s happening. Most people don’t. Send them this email, and call or text to make sure they read it.
People know Wall Street screwed us all in 2008. But not everyone knows they’re still playing equally dangerous games, and that we have a real, time-sensitive opportunity to hold them accountable.
Billionaire Justin Sun bought 1 million shares. Kjetill Stjerne pooled $640 million that he won’t start pulling out until after the massive squeeze, because this isn’t about the money any more. Other billionaires like Elon Musk can’t disclose their positions or tell you to buy because there are restrictions on CEOs of public companies, but they’ve tweeted their support. There are restrictions on politicians too, which is why Bernie Sanders, AOC, and Ted Cruz can’t tell you to buy GME, even if they can tweet out their condemnation of Robinhood (which is owned by Citadel). Millions of nobodies like me are holding no matter what—a pledge from someone overseas living on $150/month inspired me.
This is your $325 ticket to a spot in the history books.
All we need to do is make sure that enough people have this information to seal the deal. We don’t know exactly how many more people we need to buy and hold the line but we’re close enough that Citadel openly broke the law, Robinhood illegally sold non-margin shares without sell orders, and someone’s been desperate enough to liquidate ETFs to liquidate their tiny sliver of GME shares.
We’re close. This is within reach. We can Defund Wall Street and Drain The Real Swamp, redistributing up to 302 billion dollars from corrupt players like Citadel to everyday people like you and me and forcing them to stop these dangerous games that jeopardize our whole economy.
Buy your share. If you can’t afford more than a certain dollar amount, make it a limit order. There’s a good chance we’ll see ladder attacks and dips, so no stop losses. Stop losses are what allowed Citadel to rob little guys Thursday, cheating to drop the price to $118 and pick up all the $120+ stop losses before they let retail buyers back in and the price jumped back to $300+. Don’t let that happen to you.
Call or text everyone you know and explain why they should read this and join the movement. Email it, and explain it’s not a meaningless chain email. If you forward it to multiple people at once, delete the “Fwd:” from the subject line and put everyone in your email list in the “Bcc:” field so that it doesn’t look like spam and you protect people''s privacy. Do your part to spread the word.
Tweet this. Post it on Facebook. In any forums you visit. If you know anyone with an audience, ask them to share it. Tweet it at public figures—if enough of us do, they might RT. Print copies and hand them out on the street. Blast this all over because I guarantee you, there are enough people who saw loved ones suffer through the Great Recession that if this goes viral, bankrupting Citadel and demanding real reform is a slam-dunk.
We only lose if people don’t figure out what they have the power to do until it’s too late. Don’t let that happen.
It’s a lot of money to me, but I put 3 shares at $332 into this, and I’m not backing down. This has the potential to revolutionize Wall Street.
This isn’t a fight just for Reddit. Hedge funds exposed themselves to infinite loss when they naked shorted GME over 140% of float. They were asking for a short squeeze, which is a common, legal strategy to profit when other investors make that sort of mistake. Michael Burry caught on, and tweeted that his private investment firm was betting against the shorts with 3% of their portfolio. A brilliant Chartered Financial Analyst, Keith Gill, noticed and bet $50K of his own money, and explained it all to a bunch of everyday investors on Reddit’s WallStreetBets. Enough of them put down their own money that the insane price spike made its way onto the news, where hedge funds whined about losing a bet and billionaire Steve Cohen cried that he’s just trying to make a living, while corrupt analysts tried to convince people holding GME that they should sell, and everyone else that Redditors are doing something naughty.
This is a legal, rational strategy to bet against massive Wall Street interests that were trying to bankrupt a retailer that employs 15,000 people in the middle of a pandemic to make a few bucks. Shorting—especially naked shorting—often pushes companies into bankruptcy, regardless of whether they were already headed there, and faster if they were. The shorts had months of GME prices below $100 to swallow their pride and cut their losses. They refused, and now they want to cheat their way into sticking everyday investors with the bill for their losing bet.
I’ll cover the full mechanics from A to Z in a follow up, and be skeptical researching because there’s a ton of good and bad info floating around, but in the meantime, these are the only facts you need to figure out the rest by Googling shorts and short squeezes:
You might have heard that the short float is 120% or 140%. It was, as of 01/15/21 (which is absurd), but it’s down to 64.57%, or 30.28 million shares out of a 50.65 million share float (Ortex & Finviz; disregard Finviz’s short float ratio, because unlike Ortex’s real-time data, it’s based on the NYSE data published 01/27/21, which aggregated data from 01/15/21).
That means that the short sellers need to buy 30.28 million shares on the open market, which only has 50.65 million shares total circulating, and return them to the brokers in order to close their position. It doesn’t matter if some shorters already closed their positions, or if some people are willing to sell. We just need enough people to buy who will hold to $10,000 no matter what financial bullies try to pull, and they can’t get out of this without facing the music.
We don’t need shareholders in control of the whole 30.28 million shares to hold to force the squeeze, but we do need a lot. Millions of shares are already committed. I’m working on a site where investors can confidentially submit their number of owned and held on principle to $10,000 shares, so we know exactly where we stand and because there’s a good chance someone will sell counterfeit shares if they haven’t already to fraudulently depress prices.
Selling counterfeit shares is when a brokerage sells shares that don’t exist, and the SEC has caught Wall Street doing it before. If Citadel was willing to flagrantly violate their brokerage responsibilities Thursday (the SEC has previously ruled that brokerages can’t selectively refuse to fill orders to protect their financial positions), they could easily counterfeit shares to illegally and artificially depress the buy price to stave off the squeeze: https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
If they’ve already sold counterfeit shares or they try, and we can catch them by tallying how many shares we all own to see if it exceeds the total float, then the SEC can’t do what they did the last time they caught brokers counterfeiting… which was nothing. No fines. Nothing.
Remember, Janet Yellen’s received over $810,000 in speaking fees from Citadel alone. Nothing will change unless We The People hold their feet to the fire. #DefundWallStreet. #DrainTheRealSwamp
Cheyenne Noel Chun | [email protected]
I’m not a financial advisor, and this is not financial advice. I’m a concerned citizen who studied basic macroeconomics at the University of Chicago, and has spent ~40 hours researching this unprecedented grassroots phenomenon since I stumbled across it last Wednesday. Most people don’t have that kind of time, so I feel a moral and social duty to spread the truth. Especially because most coverage focuses on how much money Redditors have made, or is basically Wall Street propaganda. If we take this movement through to the finish line, it will literally go in history books.
If you spot a mistake, let me know and I''ll fix it. Most current float data will be at Ortex or S3, or aggregated at isthesqueezesquoze.com
Good places to start doing your own research if you don’t believe me:
