News for hackers. Stuff that matters.

A comment on AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains. Parent comment

Re:AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains by cperciva on Wednesday February 03, 2021 @01:37PM (#26017313)
I think DeepFuckingValue is smarter than you give him credit for. It's worth leaving $20M on the table if it lets you tell the SEC "look, I'm clearly an idiot, there's no way I could have been deliberately engineering a pump and dump scheme".

Better to take $15M of profit than to gamble $35M on the SEC deciding not to prosecute.

[ Parent | on HN ]
Re:AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains by vimy on Wednesday February 03, 2021 @02:17PM (#26017843)
The SEC doesn’t have a case. He’s been holding for 2 years and was laughed at many times by people on the wallstreetbets sub.
[ Parent | on HN ]
Re:AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains by cperciva on Wednesday February 03, 2021 @04:35PM (#26019464)
The SEC wouldn't be prosecuting him for holding GME. They would be prosecuting him for pumping up the stock price.
[ Parent | on HN ]
Re:AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains by vimy on Wednesday February 03, 2021 @04:57PM (#26019699)
My point is that the sub didn't take him and GME seriously until December or something. You can't be a laughing stock and a pump and dump mastermind at the same time.
[ Parent | on HN ]
Re:AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains by cperciva on Wednesday February 03, 2021 @06:42PM (#26020763)
I'm not so sure about that. Spending 2 years trying to pump the stock and failing doesn't change what happened later. You can't escape a murder charge by saying "I spent two years trying and failing to kill the victim"!
[ Parent | on HN ]
Re:AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains by ac2u on Wednesday February 03, 2021 @02:08PM (#26017720)
If he did offload his entire position at the "top", and became seen as a symbolic catalyst of a subsequent drop, I reckon it's randomers on the internet that took a loss that he'd be more worried about.

Especially when the newspapers decided to plaster his real identity all over the place.

[ Parent | on HN ]