interesting question. Maybe because react mainly developed by facebook for facebook and they sorta let us use it?
maybe just the degree to which community participated in development.
maybe react today is where rails was 5-10 years ago in its life. give another 10 years assuming react is still massively used framework, it'll face similar issue. I don't know, interesting question.
don't want to sound harsh, but articles like this are the reason I don't read much. Maybe it's because English is my second language, so it's on me, but why such epic journey to seemingly say so little. I only read half of it, couldn't go through more. Interesting topic but to me personally, delivery is quite difficult.
That's where we differ. I enjoy reading a longer form article like this. Lot's of interesting details and well written. Not everything writer needs to cater to those with shorter attention spans ;-)
Im my professional career I've never worked with dataset large enough where pagination would become difficult to solve. I wonder where are the limits of SQL, Postgres. How do I learn to extract most of rdbms?
what is the truth though?
As someone who only knows about stocks from 'big short' film and 5min video on youtube and wsb thread. I genuinely curious what are the ways this could play out.
is there a deadline on short sellers to close their positions?
what is reasonable limit for the stock to go to?
what happens if hypothetically nobody of wsb would sell their stocks?
So, a short squeeze is a real thing. The stock going up means that the people holding an underwater short need to rush to buy to close their positions before they go farther underwater. This then makes the stock go up faster. That's indeed what happened last week.
But you don't need to buy back all the stock, just enough such that you have enough flexibility to hold the stock across the inevitable peak and drop. In a consumer brokerage, this generally takes the form of a "margin call" and the brokerage will often buy stock for you out of your margin so they don't get caught holding the bag, and eventually can seize your whole portfolio to make themselves whole (the regulations there get complicated and I'm not expert). It's an absolute thing, and you lose all your money. But that's not how it works for a hedge fund, the nature of which is to have access to financing regular people don't. They can just cut a deal with bigger players to get through, and that's how Melvin seems to have managed this.
To be clear: Melvin made an outrageously inappropriate bet, got caught, and lots a ton of money. But they're out now and the story is over. Now GME is just a bubble like any other bubble, fed by naive investors believing it will go up when it won't.
As far as "what happens if WSB doesn't sell?", the answer is nothing. WSB doesn't hold the full capitalization of GME. There are plenty of other shares out there being traded, and the price of those trades is what you see on the ticker.
> some say they are, some say they aren't. Is this in fact true?
The ones which said they are out are out. There isn't actually any evidence that they stayed in. There is a lot of frenetic speculation on reddit that they're still in, which is mostly the result of redditors cargo culting bad "game theory" to support their own priors that hedge funds will always lie no matter what. I have written many comments about this in the past couple of days; suffice it to say that these conspiracy theories are based in basic trading illiteracy and misunderstood jargon, mixed with a heavy dose of emotional investment.
On the other hand, there is good evidence they actually closed out when they said they did: the hedge funds getting burned when GME was at $50 and $100 simply wouldn't exist anymore when GME hit $300, $400 or $500. They would have been margin called and it would have been game over.
And finally - yes, some funds are short GME right now. But that's not because they were short at $4.5, it's because the current price is dissociated from reality and all the smart money wants to short the peak.
It's hard to say because every source I can find shows institutional ownership is 120-160% and I don't know how it's possible to own more than 100% of a thing. I suppose that could all be the short positions leading up to the recent drama.
Stock creation of this form is not entirely unlike the money creation that happens with fractional reserve banking. A short squeeze is crudely analogous to a bank run with that mental model.
(I have no market position on any individual stocks... because I don't consider myself sufficiently well-educated to do it. So take that grain of salt as you see fit).
There is no specific deadline for short sellers, only interest payments and margin maintenance requirements. If a short seller fails to meet margin maintenance requirements, they will have to close the position or deposit more assets as collateral within a few days or their brokerage will take action for them. This is the classic short-squeeze scenario -- short sellers are forced to close the position to meet margin requirements, and in doing so they drive up the price of the stock and trigger margin calls for more short sellers.
Eventually Gamestop could be forced to issue more shares to improve the liquidity of their stock, and wsb would be less relevant.
My guess is that in a week or two we will be hearing sob stories from people who bought GME at the peak thinking the price would go higher. At this point the wsb crowd is lining the pockets of hedge funds who are taking advantage of the situation -- unsophisticated investors trying to profit from a short squeeze are an easy target.
There's not a single "deadline", each short seller has their own contract with their own terms and conditions.
So since it's a rotating cast of characters, it is entirely possible that the very early short position holders have all taken their lumps, and the current short sellers sold their borrowed shares for $100's of dollars each, and now have the ability to hold on for quite some time.
Sure and also the short options themselves have a price tag. That cannot be very good for an option against a stock in that state.
Also I think this is being over-analyzed. Reading the comments the majority of users there don't claim they really know all the details. To me this is a protest against hedge funds.
Ironically, in their attempt to protest hedge funds, they have probably handed over large amounts of money to hedge funds. Sure, the funds that got slammed by the short squeeze were hurt, but as more redditors started piling in to buy shares and buy options, other hedge funds took advantage of the situation. Who do the WSB crowd think is selling them shares or call options at this point?
Short sellers have two days to borrow and deliver shares, and if they don't do that, they can be subject to a buy-in (I think 3 days later) for failure to deliver. They don't really manage that back office stuff themselves; their prime brokers do.
Shorts also have to pay a large amount of interest to remain short, because they are borrowing the shares that they sell. Indicatively, I see the short rate at around 12.5% annually. This is not terribly high. You can look at the short rate as a quick-and-dirty, but more granular across time, proxy for short interest.
People are acting like GME is the only stock that has ever short squeezed. TSLA has squeezed repeatedly and its valuations have stayed high despite the company not turning a profit ex regulatory credits. We've already exceeded "reasonable" for GME so it's all a question of price action at this point. The main factor that makes GME's squeeze such a huge deal is that it was driven by a self-deprecating crowd of people sharing thoughts publicly, rather than some famous billionaire steering the money of several other famous billionaires.
There's no law that says every trade has to be justified on a fundamental basis. Some people trade technicals. Others trade sentiment. Still others trade volatility. The price is the price. If BTC can go to 30k then GME can go to 1k.
Another interesting factor is that, if short-sellers were reluctant to cover at $4, then there are bound to be many firms that are short stock (or long puts) here around $100. As long as there are shorts out there, it can squeeze again from shorts covering or market-makers hedging gamma. If nobody from WSB sells, then it's a question of the rest of the market participants (computers, market-makers, hedge funds, retail, you name it) pushing around the spot price. IMO it's a very interesting situation. We don't get FTD and short interest data very often -- bimonthly and on a lag -- so there's a lot of uncertainty. I share your genuine curiosity.
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was looking for this sort of comment to confirm my bias. I'm trying to figure out what is it about how I feel about reflex:
the idea that even with this you still have to reach for js libs or am I just being lazy. I guess a little bit of both maybe.
But it's true, even though our app is pretty straight forward crud, we still need things like autocomplete, drag and drop, tabs, modals, form validation etc. Just having js being js and ruby being ruby seems easier for me to parse and work with.
> 92. You have vanishingly little political influence and every thought you spend on politics will probably come to nothing. Consider building things instead, or at least going for a walk.
Following national and international politics is a waste of time and emotional budget unless your work depends on it. It's basically a TV series, you can't change the outcome.
Focus on local and neighborhood issues which you can change.
You should care about politics, but also understand that your isolated action will not magically change the world. Your individual action does have an impact, but it’s likely a small one. So adjust your efforts and expectations accordingly.
DialogEDU | West Palm Beach, FL | REMOTE US | Ruby on Rails developer | Full-time |
Rails developer:
MUST have: 3+ years production Ruby on Rails experience. TDD/BDD using Rspec, Capybara. Experience using/implementing RESTful APIs. Experience with code refactoring & optimization.
Our tech: Rails, React, MySQL, AWS
Front end developer:
Must: 3+ years production React experience, Strong js experience. Testing with Cypress or similar.
Bonus: Basic understanding of rails
Our tech: Rails 4. React, Ember 1.8, jQuery. MySQL, AWS
Include in the email: 1) Resume. 2) Why you'd be a good addition to the team. If possible, links to projects/code samples that highlight your skills.
Send email to jobs at dialogedu.com
maybe just the degree to which community participated in development.
maybe react today is where rails was 5-10 years ago in its life. give another 10 years assuming react is still massively used framework, it'll face similar issue. I don't know, interesting question.