Hank: people will eventually figure out how powerful they are (2021)
prediction · status: unresolved · last event: predicted (2021-01-29) · owner: Hank
Explaining the GameStop short squeeze in January 2021, Hank predicted that people would eventually figure out how powerful they are together.
About: GameStop
| date | event | what | video |
|---|---|---|---|
| 2021-01-29 | predicted | Hank says people will eventually figure out how powerful they are, and it will be interesting to see what we do with that. | The Gamestop Short Squeeze in 4 Minutes 00:03:42 |
What is said about it
9 statements, by date (the events above are the turns of the thread; these are the details).
- 2021-01-29 · The Gamestop Short Squeeze in 4 Minutes — Hank made this video because a former head of the SEC on CNBC compared the GameStop short squeeze to the siege on the Capitol, and he got too mad. — 00:00:00
- 2021-01-29 · The Gamestop Short Squeeze in 4 Minutes — Hank: GameStop is a struggling mall retailer selling video games, with a business model ill suited to a pandemic or the future. — 00:00:00
- 2021-01-29 · The Gamestop Short Squeeze in 4 Minutes — Hank: In a correction comment Hank says 'more than 100%' was a simplification: for GameStop it was something like 300% of available shares. — creator comment
- 2021-01-29 · The Gamestop Short Squeeze in 4 Minutes — Hank: Finance people bet GameStop would fall a certain amount in a certain time; as in Vegas, more specific bets pay more, and making the bets public drives the price down. — 00:00:29
- 2021-01-29 · The Gamestop Short Squeeze in 4 Minutes — Hank: Others noticed GameStop was not doing that poorly (cash on hand, PS5 sales, not going bankrupt) and bought its stock, stopping the crash. — 00:00:58
- 2021-01-29 · The Gamestop Short Squeeze in 4 Minutes — Hank: The worried bettors made more bets, so many that they had promised to buy more GameStop stock than exists on the market. — 00:00:58
- 2021-01-29 · The Gamestop Short Squeeze in 4 Minutes — Hank: Someone noticed that unless GameStop went bankrupt or was bought by private equity within about three months, the finance guys would have to buy at any price, and others could sell to them. — 00:01:27
- 2021-01-29 · The Gamestop Short Squeeze in 4 Minutes — Hank: People pushed the stock price up, probably closer to what a company that is not going bankrupt should be worth. (hedged) — 00:01:27
- 2021-01-29 · The Gamestop Short Squeeze in 4 Minutes — Hank: Even from the most optimistic perspective, GameStop is worth ten times less than its current trading price. — 00:01:56