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Comment by eternalny1 | Hacker News Reader

He posted his daily update today, he has not sold his shares through all of this chaos.

Talk about "diamond hands".

https://www.reddit.com/r/wallstreetbets/comments/l846a1/gme_...

Check all his recents posts, then you can fact-check that statement and see that he has liquidated and earned some cash, and is simultaneously holding on to some significant stocks. Both things are true.

About $13.8 million he’s got out of the stock to be exact, if reports elsewhere in the thread are correct. This shows how ability to influence large numbers of people can convert to money, and the closer you are to the root the bigger slice of the cake you get.

Basically applies to all media and startups.

How does it apply to all media?

Anyone who commands any appreciable number of eyeballs can parlay this into money and/or power. This has been true basically forever.

I’m not sure it’s about media. Media may provide a channel to carry a message to many people, but that channel can be used for good or for evil.

I think we are talking about converting influence over masses to personal gain (don’t know if GME guy did it intentionally or not, but it benefitted him), less about media (which itself may not become richer from this) and more about how some use it. Admittedly some media may be prone to facilitating these scenarios.

it's in his daily screenshot. But he still has $30M in stock and calls.

Yes. Was just pointing out that this statement is false or dangerously half-true: “as of now, he has not sold his shares”. This, however, would be true: “as of now, he has not sold all of his shares”.

The danger in “he has not sold his shares” is that a retail investor who did not do their research might misinterpret it and imagine a guy who never sold and will never sell; since that guy has background in finance and knows what he’s doing, common sense would suggest it must be safe to invest into this stock right now; meanwhile, in reality that guy has already cashed in big time.

How much does a successful youtuber/internet personality make? It seems like he might have even some economic incentive not to jump ship and risk losing social cache

look how much PewDiePie makes. a lot.

It also seems like a good way to stave off lawsuits (valid or not) by keeping everyone on his side.

Youtubers probably not making $13.8 million any time soon.

A week ago he had 1000 option contracts, now he's at 500.

2 weeks ago he had 2,000. 1,000 each with different expiry dates.

it will keep going up. Good for him. This calls into doubt the stronger forms of EMH given how many people have made so much money with what is effectively a momentum play. I would not be surprised if he becomes a billionaire soon with other investments and GME.

He'd have to find some other very cheap stock with very cheap far out of the money calls with a high potential for rising 11000% in a year.

I'm taking suggestions.

I don't know if there is anything cheap available on the options market these days.

I don't think GME is going to stay at this price for very long, but on the other hand the retails trader are only ~25% of the volume (Matt Levine's latest column) and on balance selling, so I think the stock price is driven by big players, and "what do they know that I don't?"

Even if the options are super-expensive in terms of IV, if something goes up 200% in a week, you will make a very nice return.

Nobody has believed the stronger forms for a long time. Well, except maybe a couple people with early EMH papers that they built their name on.

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