• Some users have recently had their accounts hijacked. It seems that the now defunct EVGA forums might have compromised your password there and seems many are using the same PW here. We would suggest you UPDATE YOUR PASSWORD and TURN ON 2FA for your account here to further secure it. None of the compromised accounts had 2FA turned on.

GameStop Stock keeps going up no end in sight

This saga may turn out detrimental to the company in the long term, but at least for AMC's part they were able to pay off a large portion of their debt. The CEO's comment was simply that, "there is a lot of affection for AMC as a company across the United States." I have seen a lot of comments from so-called "Reddit investors" that "we like the stock." Diamond Hands!

https://www.foxbusiness.com/markets/amc-ceos-message-to-reddit-community
 
Endgame said:
And GME drops 40% in 10 minutes. Sounds familiar
Click to expand...
Investing in meme stocks or crypto right now is a huge risk. The whales want us to buy more so they can all cash out at some predetermined value. And then catch the dip to do it all over again. P & D.
 
Roblox Stock hits the market way overpriced every kid is playing the game except the are playing COD instead.
 
Comixbooks said:
Roblox Stock hits the market way overpriced every kid is playing the game except the are playing COD instead.
Click to expand...
Yeah maybe at 45 I might have bought a couple but it shot up to 70 right out of the gate. I think after the new stonk smell wears off it will wind up around 30-40.
 
Verge said:
I know what a short squeeze is, that happened already. The second round was absolutely triggered by the e-com leadership change.
Click to expand...

Not quite, the January spike was a Gamma squeeze, triggered mostly from options calls, the actual short positions have not been closed.
 
I'm sad that I sold my GME stock for the same amount I payed for. Was hoping for it to go bellow $100 but that ship has sailed. Good luck with taking down the hedge funds.
 
toast0 said:
Do you know how many billions of dollars were made shorting it when it was above $100?
Click to expand...

The short positions were still open, and the money made from the dip did not come CLOSE to recouping the losses from the Gamma squeeze in Jan, and the price NEVER fell to pre-January prices. So any money they could make by shorting from 400 down would probably be lost pretty quickly by the fact that its still an order of magnitude more valuable at $100 than prior. The Short percentage is still ridiculously high, and did not change much during/after the gamma squeeze. Within hours, news reports and articles from all over the media came out reporting that the hedgefunds Have Closed Their Positions™ but if you look at the volume, short interest etc: It's simply not true.


Storm's a comin'...
 
KazeoHin said:
The short positions were still open, and the money made from the dip did not come CLOSE to recouping the losses from the Gamma squeeze in Jan, and the price NEVER fell to pre-January prices. So any money they could make by shorting from 400 down would probably be lost pretty quickly by the fact that its still an order of magnitude more valuable at $100 than prior. The Short percentage is still ridiculously high, and did not change much during/after the gamma squeeze. Within hours, news reports and articles from all over the media came out reporting that the hedgefunds Have Closed Their Positions™ but if you look at the volume, short interest etc: It's simply not true.


Storm's a comin'...
Click to expand...
If they aren't closing their positions it's not a short squeeze. There's just no float.
 
Not sure if anyone noticed but almost every stock dropped at 12:15PM (EST) to 1:00PM.

The treasury auction business was taking place.

Though I'll admit the meme stocks took a bigger dive than everyone else seems rather suspicious. Especially how various news sites had their articles ready to post about GME plummeting. There is some discussion how some of these new sites already posted shortly before the drop.

https://www.reddit.com/r/wallstreet...gme_dip_today_was_shock_a_coordinated_effort/
 
Last edited:
Verge said:
If they aren't closing their positions it's not a short squeeze. There's just no float.
Click to expand...
Precisely, which is why the January spike was not a traditional short squeeze, it was a Gamma squeeze.


The Squeeze has yet to be sqoze. Hence why now is a pretty good time to buy in....
 
Yeah, when I found out what was happening, I think it was at $36. Should have just bought, but it seemed kind of risky.
 
cybereality said:
Yeah, when I found out what was happening, I think it was at $36. Should have just bought, but it seemed kind of risky.
Click to expand...
I know the feeling.

This is the first time in my life where I have what I feel like is disposable income. So I decided "F' IT" and put on $2K at $130. It was more about sending a message to the 0.01% than making money. I saw that $2K turn into $1K and down to $900, and I knew that I was okay with that money going away. I'm now sitting on $4800, and its going up every day. Overall, the profit is a happy accident.
 
KazeoHin said:
Within hours, news reports and articles from all over the media came out reporting that the hedgefunds Have Closed Their Positions™ but if you look at the volume, short interest etc: It's simply not true.
Click to expand...
I wonder how you go for rules of thumbs like that:
https://marketchameleon.com/Overview/GME/StockChart/OneYear?tech=volume

There is a period of 20 days with over 2 billions stock that got sold-bought, there is 75 millions stock in total or so, i.e. the complete company was sold 40 times no ? With that much ridiculous amount of volume how to conclude that they could not have closed their position ?
 
While it's interesting to see this entire event unfold with GameStop, their stock price, the hedge fund elites and the like you know what I wonder: how much time realistically did this whole event buy GameStop in terms of staying alive as a company? I have my own guess but I wanted to hear what some of you think which is the reason I pose the question. Out!
 
cybereality said:
Yeah, when I found out what was happening, I think it was at $36. Should have just bought, but it seemed kind of risky.
Click to expand...
The entire scenario is ridiculous - there's really no "kind of risky," it is blatantly risky.

If you're after saner gains, now is a good fire sale on tech. Or just pick up some ARK and let Big Momma Cathie Wood hold the wheel for a while.

Go buy do one of those things and check back in a year. There's a pretty solid chance you'll do well.
 
Welp, I decided to bite the bullet. Not on GME, too expensive for my blood, but 50e on AMC is reasonable. My first time trying to play with stocks. I know AMC is no longer as memestock as it was and I know there have been talks about watering down the stocks by introducing more of them to the market. If the stocks skyrocket, it will be nice but if not, well this Covid is not going to last forever. I will get mine back eventually when people start going to the theaters again. (i hope)
 
Last edited:
I'll just stick to stocks that have good growth and are selling at a reasonable price. It's boring, but averaging 10-12% gains is good enough for me. I bet a lot of those evil hedge funds shorted this stock at 300-400 the last go round and sold between 40-100. Then there's the hedge fund that went long and sold at 300-400, cuz, ya know, sanity, but if playing the "Hardways" gets you off, go for it.
 
LMAO, I knew this was going to happen but I definetly picked probably the worst time to gamble on AMC. Steadily going down like a limp impotent dick. 🤣 But this was an experiment anyway, on money that would have gone to beer next weekend. Does not mean the next weekend is going to be beerless though, perish the thought...
 
nilepez said:
I'll just stick to stocks that have good growth and are selling at a reasonable price. It's boring, but averaging 10-12% gains is good enough for me. I bet a lot of those evil hedge funds shorted this stock at 300-400 the last go round and sold between 40-100. Then there's the hedge fund that went long and sold at 300-400, cuz, ya know, sanity, but if playing the "Hardways" gets you off, go for it.
Click to expand...
At that point, just stick money in an index fund that tracks the S&P and leave it there. Never sell it.
 
Yeah, I use index funds mostly (mix of S&P and bonds). It's not glamorous, but it gains steady and is relatively safe. I'm holding out for retirement.

I did try trading a bit a few years ago, made $17K on AMD, so that was nice, but it was too stressful watching the stocks everyday go up and down, wondering if I should sell (or buy more).

I'd rather just put it in a ETF or index fund and then not think about it. Day trading is just anxiety inducing.
 
Axman said:
Nah; the people buying Gamestonks aren't doing it to make money, they're doing it to make the people holding shorts suffer. They are succeeding as far as I can tell.
Click to expand...
Maybe that is what they are saying, but if you read the posts they are all talking about buying rocket ships and lambos.
This is driven by nothing but greed by the majority.
 
Dark12 said:
Maybe that is what they are saying, but if you read the posts they are all talking about buying rocket ships and lambos.
This is driven by nothing but greed by the majority.
Click to expand...
perhaps you should read all the threads about how much GME "tendies" are being given back to charities... What I made the last 2 weeks of Jan almost made up for the substantial drop in income I had last year. After this go round, I'm planning on donating some of my earnings to the local animal shelter.
 
TMCM said:
perhaps you should read all the threads about how much GME "tendies" are being given back to charities... What I made the last 2 weeks of Jan almost made up for the substantial drop in income I had last year. After this go round, I'm planning on donating some of my earnings to the local animal shelter.
Click to expand...
Hedgefund operators and workers, bankers and brokers donate to charities too.
 
socK said:
At that point, just stick money in an index fund that tracks the S&P and leave it there. Never sell it.
Click to expand...
S&P generally doesn't do 12%+ (but it has over the last few years). I have outperformed the S&P over the last 5, but not by much, so you're not wrong. Nevertheless, I still do it and for now will continue to do so.
 
You must log in or register to reply here.
Back
Top