OT: GameStop
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So why are shares of the video game retailer up more than 275% so far in 2021?
https://www.cnn.com/2021/01/25/investing/gamestop-stock-reddit-wsb/index.html
No doubt some big money is going down on the shorts but it depends on when they are due. Could be a while.
https://www.cnn.com/2021/01/25/investing/gamestop-stock-reddit-wsb/index.html
No doubt some big money is going down on the shorts but it depends on when they are due. Could be a while.
Um if you put your “hard work” for retirement into game stop you get what you get.
The price will always eventually try to get back to the value of the company. Game stop right now is the exception to the rule.
Again if you are putting your retirement into game stop and it fails, look in the mirror. Then blame the person you see.
The price will always eventually try to get back to the value of the company. Game stop right now is the exception to the rule.
Again if you are putting your retirement into game stop and it fails, look in the mirror. Then blame the person you see.
What abt the ethics of people losing their life savings Bc they are morons?
Both are greedy.
One is way dumber than the other.
Both are greedy.
One is way dumber than the other.
But my comments aren't limited only to gamestop and this single event.
Also, your rambling about people getting what they deserve is an ever existing easy out that totally ignores all those not in the sword fight yet being affected.
I highly doubt the people who bought in game stop to cause the short squeeze believe game stop is actually valued at their current stock price. Those guys don’t plan to hold this long term.
Who knew IMPP worked for the NYSE?
Due to volatility, trading on $GME has halted at exactly,,, $269.69— Jason Kirk (@thejasonkirk) January 27, 2021
Due to volatility, trading on $GME has halted at exactly,,, $269.69— Jason Kirk (@thejasonkirk) January 27, 2021
Pretty good description.
It's basically an episode of Billions. A hedge fun shorts a bunch of gamestop stock thinking it's going belly up. A bunch of nerds on the internet see this and start buying up gamestop stock, driving up the price. Now the loans have to be paid back but the stock price is too high, squeezing the hedge fund.
Gamestop is just a rope in this tug of war. But it's interesting to watch.
I'm not involved with this at all, but I fully support it.
The Fed expanding its balance sheet by $6.5 trillion with money created out of thin air to inflate asset prices - central banking
A group of people on Reddit using money they earned to pump a stock - market manipulation!
And no one should feel sorry for Melvin Capital. Sell something you don't own, get wrecked.
The Fed expanding its balance sheet by $6.5 trillion with money created out of thin air to inflate asset prices - central banking
A group of people on Reddit using money they earned to pump a stock - market manipulation!
And no one should feel sorry for Melvin Capital. Sell something you don't own, get wrecked.
Decided to do a little technical analysis for you fellows. Looks like a Peter North pattern is setting up.
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At least Tesla has substance. Elon is doing huge things and is THE man on the frontier of technology.
GameStop really has no significant upside as a business and this meteoric rise isn’t indicative of GMEs value imo. It’s gonna come back down to earth.
Well stroked. I agree with you on this, I was just busting your balls. I see no way for the GME price to stay up there unless this flood of new money never sells their shares, and that ain’t gonna happen.
Yes, but everyone knows that. You guys that keep harping on the stock will come back down to earth aren’t breaking new ground. Everyone knows that. It’s going to an absolute hard crash when it comes
I got in with a little at $15. Tried to buy at $13.60 and it was at $15 before the page would load. It’s been swinging like mad
As long as everyone who gets into it knows WHY they are getting into it, no harm no foul. You are taking some stake in an absolutely terrible company because you are speculating that the price will continue to rise. All the stuff about “hedge fund price target of $20 per share wasn’t FMV” and “they may turn a profit with new console cycle” is a bunch of damn nonsense being spewed by puppets who have an active interest in the continued rising of the stock. Regardless of any of the hedge fund’s motivations for listing the $20 price target, it WAS pretty close to the true value of the stock. The price its at now is so far out of whack from its true value that the stock itself has pretty much become an option bet as opposed to an actual equity purchase.
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Technically accurate, but I think it's truer to say that people are making a bet on the collective action of holders of GME stock. There are more short positions than there are stocks available for sale to cover the shorts. If one person held all the stock available, then they could in theory confidently hold out until the holder of the shorts are bankrupt (although the SEC has oddly taken the position before that this is manipulation rather than just a risk of doing naked shorts; https://www.sec.gov/litigation/complaints/2012/comp-pr2012-122-2.pdf). With the holders of stock so dispersed, somebody is going to cash in, it's just a matter of correctly guessing how long the crowd will hold out to maximize your take when you cash out while limiting your risk that you get left holding the bag. And as someone else mentioned, if GME does a new stock issuance, then all the sudden there is no squeeze. Not sure what the law would say about doing a stock issuance at less than the market price. Would still be an obviously good deal for the company as a going concern in the long run. They'd get lots of cash that nobody would otherwise give them. But it would cause a crash of the price, which is obviously not what stockholders want.
Wasn’t exactly stating I was giving transcendent knowledge, just giving my opinion on the PN chart.
No, your 300% return doesn't have to do whether they are collectively making money (or I assume really he means creating value).
Lots of trades are not creating value, except to the extent they are helping allocate capital, which I think is probably true they do collectively although it's obviously pretty indirect. Things like collaborating on a message board to attack naked shorts or figuring out gimmicks to trigger technical defaults in the CDO markets don't create value in the same way. The best argument you can make for them is (1) they make it risky/painful to do things like naked shorts (which arguably are net negatives; not sure the same argument can be made for CDOs); and (2) they are a form of entertainment just like broadway musicals.
I view it as sort of like people going to a casino to play poker. Not creating value, but people are choosing to play so doesn't really involve me unless they are managing to manipulate the price of stocks that show up in index funds. If some people sit down without understanding the game and lose a lot of money, that's not good, but not necessarily something to concern anybody else.
AMC has 339 million shares outstanding, and 837 million shares have traded today. In comparison Ford has 43 Billion shares, 48 million have traded today. Crazy.
AMC today is the Mike Leach offense once we have his players.
AMC today is the Mike Leach offense once we have his players.
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