GameStop Stock keeps going up no end in sight

You can issue at any price. Market decides if it buys or not
Well usually yes but there is precedent about company (officially in the bankruptcy process) that issued stock knowing the market overvalued it by a giant amount that got stopped by the SEC. There is a responsibility of good stewardship of your stockholder (even the one into becoming) they can claim.
 
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I'm surprised it did what it did, if I had gotten in near the floor at roughly $20/share I so would have sold when it neared $400 fuck that "hold the line" bullshit money is money. Even with just a few shares, that's buy a video card from scalpers level of money.. well lower end video cards, if it was a couple thousand initially investment that's "my kid is going to college and I don't have to worry about paying for it" level of money.... maybe.

So yeah, extremely surprised it did what it did for as long as it did, because it was kind of sounding like collusion to bump up the price of the stock with people who got in really early (like a year ago early) and then you see all these stories about how they made millions, some of those guys sure as hell didn't "hold the line" but like anything in life, you let the peons take the losses.
It probably helps the WSB traders that the short position for Gamestop exceeds 120% as last reported on 01/15/2021 to drive the price at an insane level. While some hedge fund losses money, I do think a lot of WSB traders will lose a lot of their money still thinking the squeeze is still in play. "Hold the line" is such a bullshit play by some traders who maintaining the pump of the stock while they probably exit their position.
 
Got in at 34.20 a share, bought 34 shares i should have dumped when it hit $430 but I “held the line” screw it i made a very nice profit that will be put away incase of future hardships
Hindsight is 20/20, it is better to exit while you are ahead of the game instead of being left holding the bag, but at the price point you bought it, you had a huge buffer before go to left holding the bag.
 
If everyone sells now, the whole thing would be for nothing. Holding is the only power people have at this point.

That said, no one should be throwing money into this that they can't afford to lose in the first place.
 
I think I've gotten my money's worth from this joy ride and if it's shitting the bed tomorrow, I'm taking the money elsewhere.

I have tasted sweet ambrosia, however fleeting.
 
Those guys on WSB are nuts. I saw a dude yesterday bought $1M of GME and lost like $300k in a few hours and he was still saying to hold.

Well, to be fair even marc cuban is saying buy and hold if you can during his AMA on wsb.

The squeeze has not occurred yet as far as we can tell. The prices are being suppressed via shorting back and forth between hedge funds.

Be curious to see how the rest of the week plays out.

Remember, even before VW's massive squeeze, a brutal hit down ocurred.
 
If everyone sells now, the whole thing would be for nothing. Holding is the only power people have at this point.

That said, no one should be throwing money into this that they can't afford to lose in the first place.

It seems pretty clear that people started selling on Monday (maybe a bit on Friday). If you want to light your money on fire, trying to repump after the dump, go ahead. One hedge fund lost billions last week, but probably others shorted GME in the $300+ range and made a bunch of money.
 
It seems pretty clear that people started selling on Monday (maybe a bit on Friday). If you want to light your money on fire, trying to repump after the dump, go ahead. One hedge fund lost billions last week, but probably others shorted GME in the $300+ range and made a bunch of money.
Borrow fees in that range were insane - anywhere from 30% to 100% at times. Shorting at that point was obscenely risky; too much volatility. Capital and margin requirements were also through the roof; even Tesla’s borrow fee is a percentage point or so, not 30! I’m honestly not sure you could take a new short position then.
 
Aside from people who got in early the big winners in this are some funds that had long positions in GME. GME isn't widely held, but a few mutual funds and ETFs held big chunks. Market makers and high frequency traders probably mostly did well on it too. They tend to thrive on volatility, and GME has been super-volatile lately.
 
Well, to be fair even marc cuban is saying buy and hold if you can during his AMA on wsb.
?
Reading it, he does not seem to be buying himself, let alone saying people should do.
So what to do ?

If you can afford to hold the stock, you hold. I dont own it, but thats what i would do.

If everyone sells now, the whole thing would be for nothing. Holding is the only power people have at this point.
Say there is a new law saying that a single entity cannot go over 60% of a company in sale options, what would the people win from that law, I am a bit lost over the hole thing to be honest, I fully get wanting to make a lot of money via a short squeeze, I am not sure I get the political aspiration.

And holding right now is giant wallstreet player, not just people.
 
Aside from people who got in early the big winners in this are some funds that had long positions in GME. GME isn't widely held, but a few mutual funds and ETFs held big chunks. Market makers and high frequency traders probably mostly did well on it too. They tend to thrive on volatility, and GME has been super-volatile lately.
I'd be shocked if many HF and institutional investors didn't short the fuck out of it when it got near 400 (probably 300 too).
 
Borrow fees in that range were insane - anywhere from 30% to 100% at times. Shorting at that point was obscenely risky; too much volatility. Capital and margin requirements were also through the roof; even Tesla’s borrow fee is a percentage point or so, not 30! I’m honestly not sure you could take a new short position then.

That's what hedge funds do. 100% borrow rate is high, but it's an annual rate. Either the short pays off in a month, or the market is insanely crazy. Turns out the short would have paid off in a week, but I only do a boring 3-fund portfolio.
 
It's holding strong at 90, surprisingly. No big dip, yet...
 
GME is getting hammered right now...
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:watching:
 
I think these guys buying up GameStop stocks might be onto something. If GameStop goes out of business, they won't be making any more stocks so they'll because super rare and the price will go way up. These guys have just figured out that GameStop is going to go under soon and are stockpiling. Genius!
 
If everyone sells now, the whole thing would be for nothing. Holding is the only power people have at this point.

That said, no one should be throwing money into this that they can't afford to lose in the first place.
Just look at the charts, buying and selling has been occuring the whole time, huge volume of sells. I would not be too surprised Wall Street was pushing for people to hold to keep the price up while they sold to willing buyers thinking it will go up forever. Then to top it off with fudge, short it on the way down.
 
I suspect the biggest reason for the downturn is hedfunds that sold their long positions. Hell, this HF alone owned 5% of GameStop and sold it, because you’d be insane to hold the stock when it’ selling for almost 8x it’s previous all time high.
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Popcorn and ale aside ... Robinhood. Give to the rich and give to the poor. Nice metaphor don't you think? The way those huge put contract blocks were laid near the top when small investors were temporally locked out, this whole thing stinks of pump & dump to high heaven to me. And reminds me so much of the dot com/tech stock bubble era 20-23 years ago. Right down to the mentality displayed by some to "hold" the line in hopes it will rise again so those near the top left holding the bag can break even. Good luck. :)

Think I'll grab some popcorn for this one. Would not touch this with a ten foot pole even if my broker didn't have it locked.

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just showed low at $126. May grab an ale too.
Options are my thing. The put contract action right at today's low is very interesting.
 
I suspect the biggest reason for the downturn is hedfunds that sold their long positions. Hell, this HF alone owned 5% of GameStop and sold it, because you’d be insane to hold the stock when it’ selling for almost 8x it’s previous all time high.
That is what many of the Redditors forgot: There were plenty of big boys that owned Gamestop and they know how to read and play the market better. So when this went up, and the short sellers were looking to close their positions, they took the opportunity to sell to them and make money. WSB wanted to act like they had some kind of control over the situation, but they didn't, they were just one of many players.
 
That is what many of the Redditors forgot: There were plenty of big boys that owned Gamestop and they know how to read and play the market better. So when this went up, and the short sellers were looking to close their positions, they took the opportunity to sell to them and make money. WSB wanted to act like they had some kind of control over the situation, but they didn't, they were just one of many players.
I wouldn’t be shocked if some of the longs sold and then immediately started shorting the stock. I have a friend who jumped in on one of the other reddit stocks last week and got burned. If you wanna win the game, you gotta play the long game. Individual investors are rarely good at trading, never mind that most traders don’t beat the S&P over the long run. And then there’s all the people on Reddit, Twitter and here saying it’s not about the money, it’s about hurting the big guys, which is crazy. if you’re going to give your money away, find a charity to give it to.
 
And then there’s all the people on Reddit, Twitter and here saying it’s not about the money, it’s about hurting the big guys, which is crazy. if you’re going to give your money away, find a charity to give it to.
You might as well risk it in stocks or give it straight to them instead of making them lose some in overhead in their charity schemes... it is going to the same people regardless.
 
Only hedges without capital are going to loose at it. Melvin was clearly all in on hedging GameStop. In the meantime, other hedges bought GME on its rise up and sold at the top to cover any losses and make a large profit.

You can’t win against the people who make the rules. If you get close, they change the rules.
 
This is crazy, it's trading up on news the appointed the chewy guy to be over their e-comm site? WTF exactly are they gonna sell online? This guy should have been there in 2005. This is a failing company. 1999 all over again.
 
Game Stop is junk. I bought a clear PS4 controller from them around Christmas (got a gift card and didn't need anything else) and it arrived broken.

Put in for a replacement, had to drive to the mall, and all they had were odd two-tone controllers (not the clear one and not even a black one).

So I took the two-tone one home, AND that one was broken as well. Honestly I just threw it out, not worth another trip to their scam store.
 
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