GameStop Stock keeps going up no end in sight

I'm in for AMC tomorrow, making a small bet and hoping a morning slump will make it smaller. I'm too poor to bet on gme right now, up or down.
 
Nobu said:
I'm in for AMC tomorrow, making a small bet and hoping a morning slump will make it smaller. I'm too poor to bet on gme right now, up or down.
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I can't decide if AMC is a pump and dump in motion, or there's some logic helping drag it upwards - perhaps a bit of both
 
sfsuphysics said:
I'm not saying anything about buying stocks on margin, I'm talking about short selling more stocks than what exist.
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Its called "naked shorting" and is illegal since after the 2008-9 crash. Bookkeeping discrepancies and loopholes can allow this to happen.
 
Comixbooks said:
https://www.tweaktown.com/news/7756...x.html?utm_source=dlvr.it&utm_medium=facebook


750k into 48 million
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That article got it wrong because it is only using the latest images. DFV started with about $50k about 18mos ago or so. That shows $750k because he closed earlier positions (calls expiring) and rerolled profits from that into this one, and I'm pretty sure he didn't use anywhere near all his winnings, so it was really $48m + those other profits.

However, $GME has wild swings, his last post "only" showed $33m or so. Today should be the real show - if there is one.
 
I kinda feel bad for Robinhood. Caught between a rock and a hard place. Their low fee but advanced features model is precisely their undoing. It works well in a normal market and they can keep their margin of error low. However when volatility goes through the roof their clearing house deposit requirements also goes through the roof and they don't have enough cash on hand.
 
Daymn! At first I did not even click the thread and simply thought that the rich people are artificially inflating the Gamestop stocks or something. But today I saw YongYea's video of what is actually going on and holy shit this is amazing!

If you do not have the amount of money invested that would be crippling if you lost it then hold the line! Let the 1% eat cake for a change!
 
I just opened a robinhood account and it said 4-5 days for a transfer.. So, I went and opened a fidelity account. 1-2 Business days. When the money hits. I'm going AMC.
 
AMC looks promising... also consider Bed Bath & Beyond and maybe Nokia too. I think those are the next big short targets of the vulture capitalist funds.
Also take an early-bird look at TWNK (Hostess Brands) which has an unusually high short interest % of float ration ;)
/unfortunately, I'm too poor atm to capitalize on any of these...
//no diamond hands here :/
 
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Keep an eye on Dogecoin (the meme cryptocurrency) that spiked HUGE yesterday and the prediction is the same or greater thing will happen today or through the weekend, as part of this whole mess - lots of people messing with crypto as a flipside to this whole frustration with Robinhood/ GSE etc. Even Elon Musk and others mentioned Dogecoin etc. Though there were still some dips overnight its still a massive gain and projected to go higher.Anyone who bought when it was at fractions of cents are up a ton as its worth cents (between $0.04-5 currently, and went up to 0.08 last night. ). If things go well we'll see a repeat of this at least today, ideally $0.10+ and true believers are pushing for $1 over days / months.
 
RanceJustice said:
Keep an eye on Dogecoin (the meme cryptocurrency) that spiked HUGE yesterday and the prediction is the same or greater thing will happen today or through the weekend, as part of this whole mess - lots of people messing with crypto as a flipside to this whole frustration with Robinhood/ GSE etc. Even Elon Musk and others mentioned Dogecoin etc. Though there were still some dips overnight its still a massive gain and projected to go higher.Anyone who bought when it was at fractions of cents are up a ton as its worth cents (between $0.04-5 currently, and went up to 0.08 last night. ). If things go well we'll see a repeat of this at least today, ideally $0.10+ and true believers are pushing for $1 over days / months.
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I'd be careful with DOGE. It's VERY easy to generate DOGE and it's not capped. I got out at the top last night, made 8x. I'm happy. It was just a very small investment. So yeah - if you wanna let $25, $50, $100 ride that you can afford to completely lose - go nuts.

I think it is definitely worth it (after yesterday's pardigm shift with the GME manipulation, now Elon further behind BTC, etc.) to put money into BTC, ETH...
 
sk3tch said:
I'd be careful with DOGE. It's VERY easy to generate DOGE and it's not capped. I got out at the top last night, made 8x. I'm happy. It was just a very small investment. So yeah - if you wanna let $25, $50, $100 ride that you can afford to completely lose - go nuts.

I think it is definitely worth it (after yesterday's pardigm shift with the GME manipulation, now Elon further behind BTC, etc.) to put money into BTC, ETH...
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If I an reading this correctly (i have not delved into stocks, yet...) BTH is currently ~37000 bucks a piece? Jesus, I doubt many average Redditors would have that much to gamble on a bitcoin stocks.
 
MaZa said:
If I an reading this correctly (i have not delved into stocks, yet...) BTH is currently ~37000 bucks a piece? Jesus, I doubt many average Redditors would have that much to gamble on a bitcoin stocks.
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It's a coin and you can buy fractions. I only own hundreds of dollars in BTC. Not a big baller. :) I only invest what I can afford to completely lose.
 
Gotta say, knew AMC was in the shithole and not just because the pandemic effectively made their income zero, was at a Costco business center, and saw those tickets you can buy and use at any show, normally a 2 pack is like $25 or something like that, somewhere between the cost of a regular ticket and matinee ticket. Well saw them on for $6 for a two pack, and with no expiration date you could bet for AMC surviving to get a bunch of cheap movie tickets. That said, the price in no way told me redditers would try to screw over hedge fund managers
 
Nope... drop AMC as a 'buy' - the latest per /WSB
People noticed that the stock was heavily shorted and started the idea that a similar short squeeze could take place. However, AMC decided to capitalize on the frenzy and release new shares (44.4m more) into the market at the inflated price as a means to raise funds and their debt holders opted to turn their debt into stock. So a short squeeze is unlikely
 
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sk3tch said:
It's a coin and you can buy fractions. I only own hundreds of dollars in BTC. Not a big baller. :) I only invest what I can afford to completely lose.
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Indeed, this is the case. All crypto is going up. BTC and ETH are the two current "big ones", but there are many others including recent rising types (ie Uniswap, LINK etc... and others predicated on "wrapped" coin trading which is something closer to a derivatives swap), DOGE is a long standing "memecoin" (its functionally little different from LTC - Litecoin as they both use the SCRYPT algo that was the 2nd gen algo that showed up after Bitcoin's SHA256 had ASICs; now Scrypt has ASIC but for a long time it didn't - I mined them awhile ago with GPUs ) that has survived and even without the recent spike, was still trending up. Yes, its not the thing you should put your entire investment into or focus on for stability, but it does have a long history and significant market cap.

Oh I should mention I personally have been favoring something called Monero, which is the most (by default) privacy focused coin around and it is doing quite well along with the rest of the market. It has many benefits but the privacy aspect means that its use case as an actual currency (as well as investment) is solid. The only "downside" is that regulators and heavily regulated exchanges don't prefer it since well.. its obfuscated and privacy related! However, the darknet (among elsewhere ) and unlike BTC it actually transmits very swiftly and with few fees; its a little like how VHS won the format war because porn took their side heh.
 
I bought one share of GME at $325 this morning to support the cause. I'm willing to take a full loss on it.

My SPCE, the next most heavily shorted stock has been doing quite well lately too, so overall I'm quite happy about all of this. ;)
 
sk3tch said:
It's a coin and you can buy fractions. I only own hundreds of dollars in BTC. Not a big baller. :) I only invest what I can afford to completely lose.
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Ah, I did not realise you could buy fractions. Granted, everything I "know" of stock trading comes from GTA V.... Time to put Lesters tips into real use. 🤣
 
It's just too bad they didn't see this coming, or they could have bought some of their own shares, then sold for major profit.
 
Lumpus said:
Get ready for GameStop to pull an AMC and issue a farkload of new stock :/
https://www.fool.com/investing/2021/01/29/should-gamestop-help-the-shorts-and-issue-more-sto/
https://www.zerohedge.com/markets/gamestop-soars-500-most-shorted-stocks-resume-surge?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+zerohedge/feed+(zero+hedge+-+on+a+long+enough+timeline,+the+survival+rate+for+everyone+drops+to+zero)
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It is not as simple as waving their hand and issuing stock. There is a process and approval that takes time. Of course there could be blatant corruption and it gets sped through but with how high the price is currently I doubt they could release enough to bail out the shorts.
 
Lumpus said:
Get ready for GameStop to pull an AMC and issue a farkload of new stock :/
https://www.fool.com/investing/2021/01/29/should-gamestop-help-the-shorts-and-issue-more-sto/
https://www.zerohedge.com/markets/gamestop-soars-500-most-shorted-stocks-resume-surge?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+zerohedge/feed+(zero+hedge+-+on+a+long+enough+timeline,+the+survival+rate+for+everyone+drops+to+zero)
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Bloomberg did a piece on this a couple days ago. Esentially their anaylst's take is it's unlikely they would do this. The reasoning is basically the current largest investor just spent the last year working toward buying back a ton of shares and getting 12% of the total shares. If they wanted to cash out they would be required to announce it first, so the stock could tumble before they do. But the real piece is that shorting is basically what causes otherwise sustainable companies to go under so it really seems unlikely that the person who's been championing to reinvent the company would do something to harm it. They are on the board as well so it's definitely not in their best interest to allow more shares to be sold because it hurts the company as well as their financial position because it's harder for them to cash out than say another exec that only has like 1% of the total shares.

https://www.bloomberg.com/opinion/a...-puts-gamestop-and-ryan-cohen-in-a-weird-spot
 
Be cautious of doge. Dont underestimate the staggering amounts some people hold of it from the past and it will not experiance much resistance when they cash in
 
cdabc123 said:
Be cautious of doge. Dont underestimate the staggering amounts some people hold of it from the past and it will not experiance much resistance when they cash in
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Hell I cannot even find it from NordNet, or maybe I am searching it from the wrong place or wrong name. I considered buying a little but just for the lulz. 😅
 
Mega6 said:
Its called "naked shorting" and is illegal since after the 2008-9 crash. Bookkeeping discrepancies and loopholes can allow this to happen.
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More than 100% short interest does not imply naked shorting. Naked shorting is when you sell stock without owning it or borrowing it. That's generally prohibited with an exception for market makers who still have to line things up by the end of the day as I understand it.

You can get above 100% short interest without naked shorting. The key is that a share that is borrowed and sold can be borrowed from the purchaser and sold again. There's no limit on short interest, other than it's stupid to set yourself up for a short squeeze. However, short interest is only reported twice a month (and it's as of a few days before the report date), so if a few funds agressively short, they can overshoot, as happened here.
 
socK said:
I can't decide if AMC is a pump and dump in motion, or there's some logic helping drag it upwards - perhaps a bit of both
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It's a pump and dump, but a better short squeeze than GME if people realize it.
So with that, buy the dip.

As a rookie, I bought up cheap stocks, thinking 10x by December.
To my surprise I was up 7x Wednesday morning. Just wanted to take investing seriously in 2021, just been a consumer. Now I know how important it is.
 
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Conman said:
Am I the only person who wishes this movement to "stick it to the man" was for any other company than shitty Gamestop?
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I don't think anyone has any particular love for Gamestop, but the meme potential was just too good.
 
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