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Film.$VXRT
CaptainObvious.I like your guesses. I’d guess early next week. I think this weekend will destroy momentum for the casuals.
edit: typo
**This post was edited on Jan 27th 2021 at 6:18:27pm
.DadGamestop is the largest brick and mortar company for an industry that is only going to get bigger. those brand new consoles that nobody can get? all have disc drives meaning people are still buying physical discs. and they're buying them in person at stores just like this one. not to mention the quickly growing gaming PC industry which they already have their fingers in via their online store.
There's also a rumor floating around that they're converting stores into build-a-pc stations. not only would that introduce a whole new crowd but it existing pc owners would be able to get their parts quickly and reliably, as opposed to waiting 3 days for a package that will probably be damaged.
and my favourite part about all this is the new board members introduced in December. Alan Attal, Ryan Cohen and Jim Grube. Cohen, founder of pet supplies E-commerce Chewy sold it to petsmart for 3.4billion. this dude has motivation and conviction to turn this company around for the better. plus he has former president and chief operating officer of Nintendo of America on the board as well.
Charlie_KellyPivot to e-commerce
soupDon't get caught with gamestop stock in the next two weeks that shit is going back to $18 once people learn how to read a financial statement.
IanAvery-Leafyou're forgetting about the shorts that need to be fulfilled
CaptainObvious.They’ll negotiate, hunker down, let the storm blow over, and quietly repurchase once the two week news cycle does its work. The people with hands submerged in the cookie jar got fucked, but all the others who were still chewing will keep reaching in.
edit: news. Not “new”
**This post was edited on Feb 2nd 2021 at 5:24:54pm
soupDon't get caught with gamestop stock in the next two weeks that shit is going back to $18 once people learn how to read a financial statement.
LonelyRobinhood won't say it, because it's a pretty terrible thing to have to say as a company, but it seems they are having liquidity issues. Robinhood doesn't front the money for purchases themselves. It all goes to the clearinghouse. Because of the volatility sec laws mandate that the clearinghouse have super high collaterals to cover bad sales. Places like Robinhood simply don't have the capital to meet the new collateral requirements. So they can't let people buy, because the people selling might not get their money and the people buying might not get their share.
Now I still don't understand why this means you can only sell. The current claim from these companies is there are no collateral regulations for selling, only buying. But that doesn't make sense to me because someone is buying the share you sell right?
Monsieur_PatateEveryone (well except for .Dad apparently) knows that. The "I just like the stock" meme is a just that, no one really thinks for a second GME is worth $1000 today, or anytime in the near to mid term. This is a short squeeze, it's not about the company's performance or outlook, not one involved in that move gives a fuck about GME's new CEO or digital shift really.
That being said, I agree that .Dad's argument is nonsense and could have applied to Blockbuster just the same: "this industry isn't going anywhere", "people have disc drives", etc. it was the exact same scenario, big old brick and mortar business not seeing that while people will keep consuming the products of their industry forever, it doesn't mean they'll keep doing it the same way, and therefore do it with them.
Now it doesn't mean they're doomed, but they have to successfully pivot, and who knows how successfully they'll do it and more importantly how big they will be once they're done. Sure, GameStop might not close doors, but they might go from "largest whatever" to just another medium size company in a crowded video game industry, and if you're just looking at the value of the stock as an investor, that's a big fucking risk.
Monsieur_PatateEveryone (well except for .Dad apparently) knows that. The "I just like the stock" meme is a just that, no one really thinks for a second GME is worth $1000 today, or anytime in the near to mid term. This is a short squeeze, it's not about the company's performance or outlook, not one involved in that move gives a fuck about GME's new CEO or digital shift really.
That being said, I agree that .Dad's argument is nonsense and could have applied to Blockbuster just the same: "this industry isn't going anywhere", "people have disc drives", etc. it was the exact same scenario, big old brick and mortar business not seeing that while people will keep consuming the products of their industry forever, it doesn't mean they'll keep doing it the same way, and therefore do it with them.
Now it doesn't mean they're doomed, but they have to successfully pivot, and who knows how successfully they'll do it and more importantly how big they will be once they're done. Sure, GameStop might not close doors, but they might go from "largest whatever" to just another medium size company in a crowded video game industry, and if you're just looking at the value of the stock as an investor, that's a big fucking risk.
.Dadidk maybe you're right, i'll lose 5 grand and make it back in a month at my real job, oh well. to be completely honest i only started trading in December and it wasn't because of gme. it was for a general interest in investing. i know it was huge risk to get in on this thing but i feel like at the very least it's a good learning experience of a stock market phenomenon.
.Dadalright you guys convinced me to sell. but i'm keeping 5 shares in for sentimental value
.Dadalright you guys convinced me to sell. but i'm keeping 5 shares in for sentimental value
IanAvery-Leafwhat about the interest they need to pay daily when they don't fulfill the shorts? I'm dumb when it comes to all this but afaik they're hemorrhaging money daily and the ladder attacks, super low volume of actual sellers, bullshit all over MSM (pushing silver 🤡), and army of bot accounts kinda show how desperate they're getting
CaptainObvious.The money they’re hemorrhaging aren’t from the shorts, it’s from pensions, private investors, and anyone else who owns portions of the hedge fund pulling out. The shorts are entered into as a contract with no real set future date and a set fee. Their lender could demand repurchase, but that’s between the short holder and the lender. It’s not up to the market. The bankrupt funds are bankrupt because everyone left and they no longer have the money to cover their oodles of short positions they owe on. Hence, they fell into debt and had to declare themselves bankrupt.
CaptainObvious.The money they’re hemorrhaging aren’t from the shorts, it’s from pensions, private investors, and anyone else who owns portions of the hedge fund pulling out. The shorts are entered into as a contract with no real set future date and a set fee. Their lender could demand repurchase, but that’s between the short holder and the lender. It’s not up to the market. The bankrupt funds are bankrupt because everyone left and they no longer have the money to cover their oodles of short positions they owe on. Hence, they fell into debt and had to declare themselves bankrupt.
kingsskierI went idiot mode and bought my 1 put at a 225 strike. Im officially in the money on it and can execute it if this stays
kingsskierIf these prices stay for GME, this one put is going to execute and make so much.
Charlie_KellyWow I’m a hypocrite and a paper handed little bitch. Sold most of my position. After A LOT of deliberation and anxiety I have come to the conclusion that Thursday was peak squeeze among a few smaller squeezes. And it would have continued if the brokerages didn’t shut it down. VW went from $200 to $1000, this went from $4 to $513. Look at the charts. Shorts covered and doubled down. They used complex trading strategies and hedges to mitigate loss and maybe even profit. And I’m of the mindset of Zeus, instead of bag holding for god knows how long I’d rather take my losses and use what I have left to reinvest in things I know will appreciate in value. I just don’t see this coming back the more I read.
Im disappointed with myself but at the same time I have goals for my portfolio and this set that shit back a little. Luckily I only lost profit and not any initial investment so it’s not the end of the world but still. I will say it was nice seeing my whole portfolio up 3x peak Thursday, the slow bleed down as been killer though.
Wild ride boys and proud of the diamond hands still out there.
Mr.LamasCosmosI don’t know why you guys think short squeezes exist.
Rotten_TrumpkinsGo away kebab
Mr.LamasCosmosI don’t know why you guys think short squeezes exist.
Rotten_TrumpkinsWhat is that term for wishing you woulda bought more or wishing you didn't sell? I'm having that big time on both stocks I still hold (but sold some) and ones I sold entirely. Made out pretty good on the covid market and its still running pretty hard.
Mr.LamasCosmosIts called not being a rookie and getting emotional about your trading x
Rotten_TrumpkinsYou're like the plague
Rotten_TrumpkinsWhat is that term for wishing you woulda bought more or wishing you didn't sell? I'm having that big time on both stocks I still hold (but sold some) and ones I sold entirely. Made out pretty good on the covid market and its still running pretty hard.
Mr.LamasCosmosTo further add, seeing as Newschoolers has the collective IQ of a can Sprite:
Long investors with momentum influence the stock a lot more than shorts who get in and out.
What happens is, long investors try to pile in to “squeeze” the ghost short seller (who has exited, with experience)
Even if you get the short to squeeze, the amount of buyers holding the stock at now ridiculously high prices put way more energy into the stock than the short seller ever could.
**This post was edited on Feb 4th 2021 at 2:26:34pm
Charlie_KellyAh that explains Melvins 56% loss since the start of January. Thank you for the clarity!
Anyways, GME puts helping recoup some losses.
BiffbarfI haven't really gotten into trading until super recently and it's been mad fun snagging a few bucks here and there. I def don't know what I'm doing but I could only imagine the highs/lows of people who do this shit for a living
zuesI hear ya man. I was buying and using bitcoin in 2011 for under $5 per coin. I wasted that shit up my nose and into my lungs. I know how you feel. I've gotten over it but i'll never forget it.
Mr.LamasCosmosThe plague of truth, you may not like what I say but I’m right. As for my esoteric theories - people don’t agree with me, yet I’m more successful.
Go figure.
Regardless, don’t turn this thread into a parade of insults. There is no need.
**This post was edited on Feb 4th 2021 at 2:58:33pm
Rotten_TrumpkinsFuck outta here. You came in here directly to start shit with multiple people. Don't act all high and mighty. You're more successful? Bro you're a vagabond. That's all I have to say.
Mr.LamasCosmosMost would define short squeeze as an erratic up movement of stock price driven by short covering. Relate this definition to what I said.
Daily reminder to not be condescending, it’s bad for the soul! @Charlie_Kelly
**This post was edited on Feb 4th 2021 at 4:49:59pm
Charlie_KellyWhat you said was, maybe, partially correct. Short squeezes exist whether you want to acknowledge that fact or not. I wasnt condescending, Melvin most likely double or tripled down on their shorts thinking the price would fall. It didn’t. Large funds and institutional investors drive the price up. That doesn’t negate it being a squeeze. You’re being silly.
