Gamestop stock being pumped to the moon by Redditors

[IloveTHIS]

the guy that started all of this had 50million in his portfolio at the peak. apparently he sold 13mil worth and is now (obviously) a millionaire. while still holding the rest of his position.

thats amazing to me.

its also hilarious how many ordinary people managed to lose their life savings on this one stock.

poor people thought the meme would go to the moon and poured their life savings into it when it was at 300. oof

 

[rob mafia]

i knew people were being played... but now that i know they were played by hedge funds and jartek, himself...

ouch.

(the narrative proclaimed here isn't just wrong, it's pretty much backwards...)

 

[TheNinja]

the guy that started all of this had 50million in his portfolio at the peak. apparently he sold 13mil worth and is now (obviously) a millionaire. while still holding the rest of his position.

thats amazing to me.

its also hilarious how many ordinary people managed to lose their life savings on this one stock.

poor people thought the meme would go to the moon and poured their life savings into it when it was at 300. oof

Luckily I learned my lesson playing penny stocks a while ago with smaller amounts of money..Now of course this GME and AMC wasn't the exact same as the penny stocks but the pattern is basically the same. You get a group of people who buy quietly at the low and then try to pump the stock "to the moon". Meanwhile they are exiting positions the whole way up, make a ton of money and leave a bunch of poor suckers, who are late to the party, holding the bag.

they are still smart enough to hold some position and post pictures online so they can pretend they are holding all their shares long and therefore get more people to keep buying. But make no mistake, the smart ones clearly sold stock and didn't hold with "diamond hands" or whatever shit they call it. If you are the average stock person you will not beat Wall Street and you will not beat these "professional" pumpers. You might win a few here or there, but long term you will lose playing these get rich quick scams..

Right now you'll even seen little periods of a dead cat bounce on the way down to keep people excited and buying more to cover their losses and lower their dollar cost average. It's exactly like the penny stock scam market. The chart matches exactly what I've seen countless times, just on a much larger scale obviously. GME going back down to $10 per share again soon without a doubt.

 

[TheNinja]

I can sell now and only be out 50 bucks. Prob gunna do it and delete Robinhood fuck those pieces of shit

dude. Cut your losses now unless you want to hold on for 20 years hoping it goes back up by some miracle.

 

[gnyg]

Seen it a lot on a couple of norwegian stock sites as well. I ask them «why should I trust you» when they say buy. I got laughed at with no proper explanation. What am I? A circus monkey that jump when told? Dont trust anyone when money is involved.

 

[rex kramer]

What happened, did it come crashing down already?

I don't know crap about stocks but to buy into a stock at over 300 dollars a share when it was traded at like 4 dollars a share less than a month ago seemed like a bad idea to me.

Then everybody on WSB saying to hold. Somebody even took out a huge billboard ad in times square basically saying to hold. I can't imagine how much it would cost to rent that ad space but it doesn't seem like something somebody who isn't already rich would do. The whole thing feels orchestrated to me, but NOT orchestrated by the little guy like they tried to make people believe. but who knows.

 

[TheNinja]

What happened, did it come crashing down already?

I don't know crap about stocks but to buy into a stock at over 300 dollars a share when it was traded at like 4 dollars a share less than a month ago seemed like a bad idea to me.

Seen it a lot on a couple of norwegian stock sites as well. I ask them «why should I trust you» when they say buy. I got laughed at with no proper explanation. What am I? A circus monkey that jump when told? Dont trust anyone when money is involved.

Everyone wants to get rich quick and has FOMO. People buy without understand what's going on behind the scenes. If the stock was so great people wouldn't have to huype it up, they'd be buying it lower while it's still affordable. They only hype it up so they can sell their shares to you at a higher price than they bought it for. They don't give 2 shits about you making money or "beating Wall Street".

It's like those dumb gambling sites telling you to give them money for "guaranteed winners". If they had guarenteed winners they certainly wouldn't share them with you. They'd just bet their own money on it and make a fortune.

 

[IloveTHIS]

Luckily I learned my lesson playing penny stocks a while ago with smaller amounts of money..Now of course this GME and AMC wasn't the exact same as the penny stocks but the pattern is basically the same. You get a group of people who buy quietly at the low and then try to pump the stock "to the moon". Meanwhile they are exiting positions the whole way up, make a ton of money and leave a bunch of poor suckers, who are late to the party, holding the bag.

they are still smart enough to hold some position and post pictures online so they can pretend they are holding all their shares long and therefore get more people to keep buying. But make no mistake, the smart ones clearly sold stock and didn't hold with "diamond hands" or whatever shit they call it. If you are the average stock person you will not beat Wall Street and you will not beat these "professional" pumpers. You might win a few here or there, but long term you will lose playing these get rich quick scams..

Right now you'll even seen little periods of a dead cat bounce on the way down to keep people excited and buying more to cover their losses and lower their dollar cost average. It's exactly like the penny stock scam market. The chart matches exactly what I've seen countless times, just on a much larger scale obviously. GME going back down to $10 per share again soon without a doubt.

Yea lucky for me I just lost my life savings via drug addiction and desperately selling off shares regardless of how high or low they were

 

[Proud American]

the guy that started all of this had 50million in his portfolio at the peak. apparently he sold 13mil worth and is now (obviously) a millionaire. while still holding the rest of his position.

thats amazing to me.

its also hilarious how many ordinary people managed to lose their life savings on this one stock.

poor people thought the meme would go to the moon and poured their life savings into it when it was at 300. oof

Who put in life savings? Nobody told them to do that.

that’s dumb. And could he bought and paid for media stories.

 

[Grassshoppa]

Yea lucky for me I just lost my life savings via drug addiction and desperately selling off shares regardless of how high or low they were

That's okay, because guess what... you are my favorite poster. And that's priceless baby.

 

[IloveTHIS]

That's okay, because guess what... you are my favorite poster. And that's priceless baby.

View attachment 831712

well with that in mind, I wouldn't change a thing then!

 

[My name is]

Elon just spoke buy up

 

[Prefect]

Luckily I learned my lesson playing penny stocks a while ago with smaller amounts of money..Now of course this GME and AMC wasn't the exact same as the penny stocks but the pattern is basically the same. You get a group of people who buy quietly at the low and then try to pump the stock "to the moon". Meanwhile they are exiting positions the whole way up, make a ton of money and leave a bunch of poor suckers, who are late to the party, holding the bag.

they are still smart enough to hold some position and post pictures online so they can pretend they are holding all their shares long and therefore get more people to keep buying. But make no mistake, the smart ones clearly sold stock and didn't hold with "diamond hands" or whatever shit they call it. If you are the average stock person you will not beat Wall Street and you will not beat these "professional" pumpers. You might win a few here or there, but long term you will lose playing these get rich quick scams..

Right now you'll even seen little periods of a dead cat bounce on the way down to keep people excited and buying more to cover their losses and lower their dollar cost average. It's exactly like the penny stock scam market. The chart matches exactly what I've seen countless times, just on a much larger scale obviously. GME going back down to $10 per share again soon without a doubt.

This would be true if it wasn't for hedges being the one moving the price. Reddit didn't move shit.

 

[TheNinja]

This would be true if it wasn't for hedges being the one moving the price. Reddit didn't move shit.

That’s a great point. I don’t really get this whole pump and dump. In any case I’ve realized I can’t beat the hedges and I can’t beat Reddit. It’s bassically gambling. Heh. Don’t get me wrong I have a few high risk high rewards but never put my life savings in it.

 

[gnyg]

Everyone wants to get rich quick and has FOMO. People buy without understand what's going on behind the scenes. If the stock was so great people wouldn't have to huype it up, they'd be buying it lower while it's still affordable. They only hype it up so they can sell their shares to you at a higher price than they bought it for. They don't give 2 shits about you making money or "beating Wall Street".

It's like those dumb gambling sites telling you to give them money for "guaranteed winners". If they had guarenteed winners they certainly wouldn't share them with you. They'd just bet their own money on it and make a fortune.

You’re speaking the truth. The moment you realise that you cant play their game, then you have the possibility to earn money in the stock market. The amount of resources and network the professionals are something the common man cant beat.

 

[bosox32]

Hope much people here didn’t buy into this. It may have been squeezed higher on that day it was restricted, but there was so much momentum then that does not exist anymore.

Especially with the attention of the entire financial world upon it the odds of GME hitting $300+ again are extremely slim. It may bounce around $50-$100 for a while or dip to $15.

 

[Prefect]

Hope much people here didn’t buy into this. It may have been squeezed higher on that day it was restricted, but there was so much momentum then that does not exist anymore.

Especially with the attention of the entire financial world upon it the odds of GME hitting $300+ again are extremely slim. It may bounce around $50-$100 for a while or dip to $15.

If it dips, likely not that much. Cohen bought in at $20 and that was before the deal with MIcrosoft, announcing that they will be changing the business, closing 1000 struggling stores, the share price rising to give more reason for lenders to believe they won't go bankrupt, and all this notoriety. While shorted heavily, you have a number of hedges wanting it ot fail and lenders scared. So, while I think it will dip, it is in far better position than it was last year.

 

[Prefect]

Hope much people here didn’t buy into this. It may have been squeezed higher on that day it was restricted, but there was so much momentum then that does not exist anymore.

Especially with the attention of the entire financial world upon it the odds of GME hitting $300+ again are extremely slim. It may bounce around $50-$100 for a while or dip to $15.

I think this is what you have wrong. The shorts were never cleared. If any big institution decides to call the stock or GME or the SEC forces clearing of settlements, the stock will spike. Hedges were the ones pushing the needle and all that needs to happen is for one hedge to figure out how much money can be made by pushing the needle. It is a gamble but the stock is going to see high volatility.

 

[rob mafia]

I think this is what you have wrong. The shorts were never cleared. If any big institution decides to call the stock or GME or the SEC forces clearing of settlements, the stock will spike. Hedges were the ones pushing the needle and all that needs to happen is for one hedge to figure out how much money can be made by pushing the needle. It is a gamble but the stock is going to see high volatility.

you're delusional if you think the shorts weren't covered (and with new short positions opened)

 

[Squintz]

There’s only one way to make up for the Worthless GME you’re holding. Sell and get a pet