Meme Stock Madness: You're going to see now who fucking fucks

The Something Awful Forums > Main > General Bullshit > Meme Stock Madness: You're going to see now who fucking fucks

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Nice Van My Man: Jan 1, 2008

Zero One posted:

We're going to sell a Tesla to every person in the country. Then they can rent them out as self driving taxis!

Yes... and once you've sold one to everyone, who will need your taxi service?

Everyone will because their own Tesla is busy being sold as a taxi.

# ? Apr 25, 2024 21:17

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# ? Jun 7, 2024 09:01

super sweet best pal: Nov 18, 2009

Space Fish posted:

Ah, the ol' General Motors strategy for Cadillac, then.

Probably closer to Henry Ford.

# ? Apr 25, 2024 21:20

PhazonLink: Jul 17, 2010

i like how the tesla taxi idea is it taxis at night when you sleep and when youre at work, and when ever youre not using it, so when does it charge?

# ? Apr 25, 2024 21:30

Charles Ford: Nov 27, 2004; The Earth is a farm. We are someone else’s Ford Focus.

There was a demo years ago where Musk presented a robotic tentacle intended for cars to be able to automatically connect to superchargers, I assume that was for the autotaxi use case. Of course, it made no sense to make it a strange tentacle instead of a simpler robot and nothing has been said about it since (the video showed a very slow, sad tentacle, much like his newer robots, too)

# ? Apr 25, 2024 23:30

PhazonLink: Jul 17, 2010

im pretty sure that was a tesla/musk fan making a fanart cgi and not official Tesla cgi. the same is for the teslatruck parking and unfolding its solar panels to charge

# ? Apr 25, 2024 23:36

Smugworth: Apr 18, 2003

Charles Ford posted:

There was a demo years ago where Musk presented a robotic tentacle intended for cars to be able to automatically connect to superchargers, I assume that was for the autotaxi use case. Of course, it made no sense to make it a strange tentacle instead of a simpler robot and nothing has been said about it since (the video showed a very slow, sad tentacle, much like his newer robots, too)

https://www.youtube.com/watch?v=uMM0lRfX6YI

I want one

# ? Apr 26, 2024 04:03

Serious_Cyclone: Oct 25, 2017; I appreciate your patience, this is a tricky maneuver

I suspect the memestock-to-chud pipeline is pretty short already, but r/teddy is jizzing their collective pants about a Lou Dobbs interview where Devin Nunes says he's looking into RICO charges against the hedgies for their naked short-attacks. MAGA/Qanon is dialed in on this group and they are ripe for the picking.

# ? Apr 26, 2024 18:54

super sweet best pal: Nov 18, 2009

Serious_Cyclone posted:

I suspect the memestock-to-chud pipeline is pretty short already, but r/teddy is jizzing their collective pants about a Lou Dobbs interview where Devin Nunes says he's looking into RICO charges against the hedgies for their naked short-attacks. MAGA/Qanon is dialed in on this group and they are ripe for the picking.

Lou Dobbs? Thought he died.

I guess it was just his show on Fox getting canceled and I misremembered.

# ? Apr 27, 2024 09:05

Pirate Radar: Apr 18, 2008; You're not my Ruthie!
You're not my Debbie!
You're not my Sherry!

Smugworth posted:

https://www.youtube.com/watch?v=uMM0lRfX6YI

I want one

There�s probably somebody out there who already has a better robotic tentacle than that for� other purposes. Tesla should just license that one.

# ? Apr 27, 2024 09:18

Jean-Paul Shartre: Jan 16, 2015; this sentence no verb

Serious_Cyclone posted:

I suspect the memestock-to-chud pipeline is pretty short already, but r/teddy is jizzing their collective pants about a Lou Dobbs interview where Devin Nunes says he's looking into RICO charges against the hedgies for their naked short-attacks. MAGA/Qanon is dialed in on this group and they are ripe for the picking.

�RICO� coming for �woke� as the new term for �thing I don�t like but can�t coherently explain why�

# ? Apr 27, 2024 12:43

Cactus Ghost: Dec 20, 2003; you can actually inflate your scrote pretty safely with sterile saline, syringes, needles, and aseptic technique. its a niche kink iirc

the saline just slowly gets absorbed into your blood but in the meantime you got a big round smooth distended nutsack

Spazzle posted:

I doubt Musk considers everyone in the country a person.

i doubt he considers anyone but himself a person

# ? Apr 28, 2024 07:45

Ariong: Jun 25, 2012; Get bashed, platonist!

Cactus Ghost posted:

i doubt he considers anyone but himself a person

Given the sheer quantity of mind-altering substances he�s consumed in recent years, there�s a very real possibility he doesn�t even consider himself a person.

# ? Apr 28, 2024 08:55

Klyith: Aug 3, 2007; GBS Pledge Week

BBY has the PP Show, DJT has even nuttier whackjobs:

https://www.nytimes.com/2024/04/25/technology/trump-media-truth-social-pastor.html

every repeat of this history becomes more and more farcical

# ? Apr 29, 2024 15:17

cruft: Oct 25, 2007

Neito posted:

It's pretty clear that Teslas are designed specifically for like southern California weather, given how they handle things like rain or snow.

I encourage you to come tell us your silly hot takes about cars in snow in an AI thread. The EV thread might be a good choice!

Then we can spend a couple pages talking about tires.

# ? Apr 29, 2024 21:09

Duck and Cover: Apr 6, 2007

Tires? Why? The rims make neat sparks.

# ? Apr 29, 2024 22:25

Fate Accomplice: Nov 30, 2006

GME eliminated all compensation for non employee board members.

Bullish!

# ? May 1, 2024 06:13

Impossibly Perfect Sphere: Nov 6, 2002; They wasted Luanne on Lucky!

She could of have been so much more but the writers just didn't care!

Just cutting the fat! Gonna be a lean mean retail outfit in a digital age after this.

# ? May 1, 2024 16:53

davecrazy: Nov 25, 2004; I'm an insufferable shitposter who does not deserve to root for such a good team. Also, this is what Matt Harvey thinks of me and my garbage posting.

You'd of thunk their NFT marketplace would be just printing money by now!

# ? May 1, 2024 17:00

numberoneposter: Feb 19, 2014; How much do I cum? The answer might surprise you!

#tup is up baby

# ? May 3, 2024 20:50

Zero One: Dec 30, 2004; HAIL TO THE VICTORS!

BBBY is going to the ~~moon~~ court again!

quote:

The former Bed Bath & Beyond Inc., seeking to generate cash for its creditors, sued to recover more than $300 million in trading profits from Hudson Bay Capital Management, the hedge fund at the center of a last-ditch financing plan that failed to prevent the retailer�s collapse.

The former retailer filed a lawsuit last week claiming that, behind the scenes, Hudson Bay orchestrated the terms for a February 2023 offering so it could acquire a huge, cut-rate stake in Bed Bath without having to disclose the ownership under a little-known rule for corporate insiders.

Complaint: https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/rxIWe8PidrX8/v0

Matt Levine reviews:

quote:

US securities laws have what are called �short-swing profit rules�: If you own more than 10% of a company�s stock, you sort of aren�t allowed to trade it. The rule is found in Section 16(b) of the Exchange Act, and it is nominally a rule against insider trading � the theory is that if you�re a big shareholder you might have inside information � but it doesn�t actually require any proof of using inside information. Instead, the basic mechanism is that if you�re a 10% holder, and you buy more stock, and then you sell the stock within six months of buying it for more than you paid for it, you�re not allowed to keep the profits. The company can sue you to get the profits back, or, if the company doesn�t want to sue you (because you�re a big insider shareholder), a shareholder can bring the case. In practice there are entrepreneurial lawyers who bring these cases and get the attorneys� fees from settlements.

You can see how those lawyers would be intrigued here. The simple form of this story is something like �Hudson Bay became a 73% shareholder of Bed Bath & Beyond, and then for months it would buy a little bit of Bed Bath stock and turn around and sell it at a profit, to the tune of $360 million of stock and probably at least tens of millions of dollars of profits.� That story is a gold mine for lawyers.

Now, that simple story is not quite right. Everyone knows about these rules, and there are standard solutions. Hudson Bay did not just get 73% of Bed Bath�s stock. Instead what happened is:

-It bought some convertible preferred stock, plus warrants to buy more convertible preferred.

-The convertible preferred stock contained the terms of the deal: Hudson Bay could convert its preferred shares, a little bit at a time, into common shares at a discount to the trading price.

-But there was a limit on Hudson Bay�s right to convert: It was only allowed to convert any of its preferred stock if, after the conversion, it would own 9.99% or less of Bed Bath�s common stock. This limit is commonly called a �Section 16 blocker.�

-This was fine because, again, it was converting and selling a little bit at a time; it didn�t want to get a huge block of stock at once. The Section 16 blocker was there for Hudson Bay�s convenience: It allowed Hudson Bay to say �we�re not a 10% holder, so we�re not subject to the Section 16 rules.�

Technically Section 16 covers not just ownership of common stock but also ownership of options or securities that can be converted into common stock.[2] So owning preferred stock that could be converted into 73% of the common stock would count as being a 73% owner.[3] But Hudson Bay didn�t own preferred stock that could be converted into 73% of the common stock: It could only ever be converted into 9.99% of the stock at a time. The Section 16 blocker, in theory, is supposed to protect it from becoming a 10% holder.

Does it work? Man, I don�t know; what I�ll tell you is:

-This has always seemed kind of like arcane metaphysics to me.

-I used to be an equity derivatives structurer and we all sure believed that Section 16 blockers worked. Certainly a lot of deals work this way.

I guess the main point here is that if you are a bankrupt company and you�ve got a shot at clawing back $300 million to hand over to your creditors, you have to give it a try. The theory of the complaint is that Hudson Bay was a 10% shareholder, the Section 16 blocker didn�t work, and so it should have to give back all of its profits on the trade:

This beneficial ownership �blocker� was illusory. It was drafted by the Hudson Bay Defendants and solely for their benefit. BBBY had no way to enforce the blockers in the derivative securities, and it had an incentive not to enforce them. Policing the blockers meant self-policing by the Hudson Bay Defendants, who routinely undercounted their beneficial ownership of BBBY�s common stock in contravention of SEC rules.

The blockers� deficiencies were laid bare in the first days of the financing, when the Hudson Bay Defendants, relying on flawed and self-serving beneficial ownership calculations, repeatedly tore through the 9.99% cap.

It is true that Bed Bath had no particular reason to enforce the blocker. The point of the blocker is just to be able to say �we don�t have the right to get 10% of the stock, so we�re not a 10% holder.� Though I can see how, if you end up buying 73% of the stock and dumping it, you might look like the sort of 10% holder that the rules were meant to capture? Hudson Bay disagrees:

Hudson Bay, which managed about $20 billion at year-end, said in a statement that Bed Bath creditors were behind the lawsuit, and that the hedge fund never owned more than 10% of the retailer�s shares.

�It is sad that creditors seeking to distract from their significant financial losses have resorted to filing factually flawed and baseless claims in a desperate attempt to extract an undue payment,� a Hudson Bay spokesperson said in the statement.

The complaint also gives a timeline of Hudson Bay�s conversions and sales. On March 20, 2023, for instance, Hudson Bay converted $23.6 million of its preferred stock into 30.3 million shares of common stock at a conversion price of $0.7777 per share. The stock closed that day at $0.8125; the volume-weighted average price was $0.8414,[5] and about 86.4 million shares traded that day. If Hudson Bay got $0.84 per share for its sales, then it made about $1.9 million on the day. In all, �in the 52 trading days between February 7 and the April 23 bankruptcy petition date, the Hudson Bay Defendants submitted a total of 90 conversion or exercise requests to BBBY.�

The complaint calculates that Hudson Bay made $310 million of profits, though the details are redacted, and �profits� under Section 16 is a weird calculation that does not reflect economic reality; I suspect my $84 million guess is closer to the real number.

Still, what an amazing trade. There Bed Bath was, more or less bankrupt, trying to round up money for creditors. Hudson Bay came to it with a deal that, ultimately, did raise $360 million from retail investors to hand to creditors, and Bed Bath paid Hudson Bay probably tens of millions of dollars for its help. And now it might be able to extract $300 million more from Hudson Bay to hand over to creditors!

The general rule of stocks is that, if you are a shareholder in a public company, you can lose all your money, but you can�t lose more than that. If you buy stock and the company goes bankrupt and there�s not enough money to pay the creditors, you get $0 back, but you don�t have to chip in more money to pay the creditors. With its Hudson Bay trade, Bed Bath found a way to get around that rule. Twice! First, in the lead-up to bankruptcy, it raised money from shareholders to hand directly to creditors, and now, in bankruptcy, it is going back to Hudson Bay for more.

# ? May 9, 2024 20:41

Serious_Cyclone: Oct 25, 2017; I appreciate your patience, this is a tricky maneuver

apparently PP had Vivek Ramaswamy on his show?

# ? May 9, 2024 20:45

pixaal: Jan 8, 2004; All ice cream is now for all beings, no matter how many legs.

Zero One posted:

BBBY is going to the ~~moon~~ court again!

Complaint: https://assets.bwbx.io/documents/users/iqjWHBFdfxIU/rxIWe8PidrX8/v0

Matt Levine reviews:

so all they had to do was buy an equal number of OTM for $0.01 each and they'd be cool? I don't think options should work that way.

# ? May 9, 2024 20:51

Impossibly Perfect Sphere: Nov 6, 2002; They wasted Luanne on Lucky!

She could of have been so much more but the writers just didn't care!

Serious_Cyclone posted:

apparently PP had Vivek Ramaswamy on his show?

i find that hard to believe

# ? May 9, 2024 21:23

Popete: Oct 6, 2009; This will make sure you don't suggest to the KDz
That he should grow greens instead of crushing on MCs; Grimey Drawer

Bill Pulte the rich nepo guy and former head of Pulte Homes held another airplane hangar event crossover with PP show and the star guest he got was Vivek Ramaswamy. It was basically a Trump rally, including Pulte once again taking off and landing in a helicopter from the same airport and doing his best Trump impression on stage.

# ? May 9, 2024 21:39

bird with big dick: Oct 21, 2015

Vivek involvement proves it�s all legit. Shills in shambles.

# ? May 9, 2024 21:49

LASER BEAM DREAM: Nov 3, 2005; Oh, what? So now I suppose you're just going to sit there and pout?

/r/teddy actually revolted! The sentiment was heavily anti-trump. Pp has been in damage control mode since the event.

They also hate that Vivek screwed over investors in the past to enrich himself.

# ? May 10, 2024 03:42

Koburn: Oct 8, 2004; FIND THE JUDGE CHILD OR YOUR CITY DIES; Grimey Drawer

DFV is back baby! After 4 years of radio silence he liked this tweet:

https://twitter.com/davidcinema/status/1650517458673885185

Ignore the fact that the post isn't about Run Lola Run and it was just used as an example.

# ? May 10, 2024 04:12

shame on an IGA: Apr 8, 2005

they are abandoning their entire mythos and building a new cult in real time because the guy that started all the gamestop poo poo in the first place liked a tweet for the first time in five years

# ? May 10, 2024 04:14

Ghost Leviathan: Mar 2, 2017; Exploration is ill-advised.

shame on an IGA posted:

they are abandoning their entire mythos and building a new cult in real time because the guy that started all the gamestop poo poo in the first place liked a tweet for the first time in five years

Well yeah. People are always surprised by When Prophecy Fails, but I feel like it shouldn't be that surprising; the primary thing that cults do is build collective narratives to justify themselves, of course they'll barely miss a step when they have an opportunity to do a new one.

# ? May 10, 2024 04:32

Anathematic: Jan 1, 2011

Koburn posted:

DFV is back baby! After 4 years of radio silence he liked this tweet:

Ignore the fact that the post isn't about Run Lola Run and it was just used as an example.

I dropped by to see if anyone posted about these clowns going apeshit over their undermessiah liking a tweet.

They aren't even clutching at straws anymore... I have no clue what this is. I think they needed something to offset the Ploot disaster.

# ? May 10, 2024 09:15

cruft: Oct 25, 2007

Koburn posted:

DFV is back baby! After 4 years of radio silence he liked this tweet:

https://twitter.com/davidcinema/status/1650517458673885185

Ignore the fact that the post isn't about Run Lola Run and it was just used as an example.

In the French Revolution, students plucked stones from the street to hurl at authorities. In the Meme Stock Madness thread, forums users shitpost about people making idiotic financial decisions despite mountains of advice not to.

# ? May 10, 2024 16:53

Serious_Cyclone: Oct 25, 2017; I appreciate your patience, this is a tricky maneuver

DFV's finger slipped while scrolling twitter and now apes are operating under a completely new mythos. This is clearly the kind of highly coordinated business strategy that will finally take down the trillion dollar hedgies

# ? May 10, 2024 17:08

Neito: Feb 18, 2009; 😌Finally, an avatar the describes my love of tech❤️‍💻, my love of anime💖🎎, and why I'll never see a real girl 🙆‍♀️naked😭.

Serious_Cyclone posted:

DFV's finger slipped while scrolling twitter and now apes are operating under a completely new mythos. This is clearly the kind of highly coordinated business strategy that will finally take down the trillion dollar hedgies

Didn�t something like that literally happen with the AMC guy?

# ? May 11, 2024 05:10

LASER BEAM DREAM: Nov 3, 2005; Oh, what? So now I suppose you're just going to sit there and pout?

Deep loving Value is back

https://x.com/theroaringkitty/status/1789807772542067105?s=46

# ? May 13, 2024 02:41

Fate Accomplice: Nov 30, 2006

GME halted 8 9 times now today

Fate Accomplice fucked around with this message at 15:44 on May 13, 2024

# ? May 13, 2024 14:51

pixaal: Jan 8, 2004; All ice cream is now for all beings, no matter how many legs.

Many other meme stocks are also running
RKT, SPCE, TUP, AMC not to the extent of GME but there is the general sympathy pumps and I think we could see one of these take over when the GME pump eventually fails if it can sustain the week or so.

# ? May 13, 2024 15:17

Sardonik: Jul 1, 2005; if you like my dumb posts, you'll love my dumb youtube channel

Dead roaring kitty bounce

# ? May 13, 2024 15:43

Squashy Nipples: Aug 18, 2007

Fate Accomplice posted:

GME halted 8 9 times now today

Marketplace Morning Report reported on this live this morning, gave me a chuckle.

# ? May 13, 2024 15:46

Fate Accomplice: Nov 30, 2006

I sincerely hope some superstonkers took this opportunity to get out in green off the last ~10 days' rise.

I know they didn't, but if each share's "legitimately" worth $telephone_number, why do you need more than one?

# ? May 13, 2024 15:50

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# ? Jun 7, 2024 09:01

Serious_Cyclone: Oct 25, 2017; I appreciate your patience, this is a tricky maneuver

So what is the non-ape explanation for the current pump?

# ? May 13, 2024 15:54

The Something Awful Forums > Main > General Bullshit > Meme Stock Madness: You're going to see now who fucking fucks

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