Gamestop stock being pumped to the moon by Redditors

Spath said:
Porsche squeezed like $10B out of the shorters, that was a great one.

I also loved how someone put it: ”Shorting stocks is high risk, high reward. Well, here’s the fucking risk.”
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Shorters are the scum of the earth
 
Randlewand said:
It's a bunch of memes and trolling to screw all of the people that were shorting Gamestop. It's going to crash, but its hilarious, and a bunch of speculators got royally fucked
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Can we keep doing things like this?! It seems like justice.

don’t hedge funds have algorithms that would notice the upswing and so automatically buy? Then the Reddit GameStop people can sell after they made their money. And leave big time investors getting the Bill?

Fuck Reddit, well most of reddit, but this is heroic stuff
 
I think the TV said the ultra rich guys who can stand to lose a ton of money are colluding to do this just to fuck with a hedge fund manager.
 
I'm glad this is happening, Americans need to start fighting back anyway they can. This is much better than being violent because this time they're forced to look into a mirror and see their own practices. They can't condemn this shit without coming across as hypocrites. So much wealth was gained by the top 1% during the pandemic and we got fuck all, time to claim some back
 
Kforcer said:
Interesting take. I do recall, as I said earlier, hearing talk that Gamestop was actually doing way better than people expected it to, sort of like the video game version of family video. It was supposed to be anachronistic, but it was proving to still be viable before this whole thing started, or at least that was my limited understanding.
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The video game industry is huge. Far bigger than people think based on the number of stores around. Even if the stores only capture 1%, that is easily billions of dollars. I don't think people even comprehend how big it is. It is between 3 and 4 times bigger than both the movie and music industries.
 
rj144 said:
This all seems perfectly normal:

Kt6mY5U.png


People manipulating the stock higher and then brokers artificially limiting it the other way.
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It is so broken that brokers who just make money on transaction are blocking transactions?
 
What does everyone think is actually going to happen on Friday?
 
Zazen said:
I'm glad this is happening, Americans need to start fighting back anyway they can. This is much better than being violent because this time they're forced to look into a mirror and see their own practices. They can't condemn this shit without coming across as hypocrites. So much wealth was gained by the top 1% during the pandemic and we got fuck all, time to claim some back
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Actually, I think a lot of people that just invested intelligently gained a ton during the pandemic. Anyone with the foresight to buy Planet Fitness stock when it plummeted, for example, would have made off like a bandit. It was a great opportunity for amateur investors in a lot of ways. And then you had those crazy unemployment checks a lot of people--including me--were getting, where their unemployment was enhanced by 600 bucks. There are a lot of people who benefited in certain ways during the pandemic who are no where close to the elite wealthy.

It is hypocritical though, for people to vilify the Redditors, as you said, because what they are doing is entirely legal and also much more transparent than the people who were apparently looking to short-sell Gamestop.
 
Proud American said:
Breaking!
They are now doing it to AMC. The movie theater chain that should be way down. How king until the powerful demand law changes of some sort.

https://www.cnn.com/2021/01/27/investing/amc-gamestop-reddit-stock/index.html
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Bros, be careful trying to find the "next" gamestop.

AMC, BB, NOK all might go up simply because people are touting them as the next gamestop, but they'll never reach gamestop levels because they're not shorted to the level that gamestop was.

If you want to jump on the hype train and jump off a few hundred richer then fine, but be careful not to hang on so long you get wrecked waiting for gamestop-style results.
 
boingyman said:
No it's not mostly built on pure speculation or psychology. What are you talking about.


You are still playing the market regardless. It depends on your risk tolerance. Don't get me wrong. Most of my investments are passive. VTSAX, VFIAX are my bread and butter for the long run, although since the covid crash, moreso in the past several months individual stocks are just going bananas. The risk is worth the ridiculousness IMO. Bought 1000 shares of NOK at $5.40 this morning and holding on. Even if it slams down I lose a couple thousand bucks I don't care. This is all coming from my SENS profits that I cashed out.
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A rumor collapsed Lehman Brothers in a matter of days, right?
 
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Fedorgasm said:
Bros, be careful trying to find the "next" gamestop.

AMC, BB, NOK all might go up simply because people are touting them as the next gamestop, but they'll never reach gamestop levels because they're not shorted to the level that gamestop was.

If you want to jump on the hype train and jump off a few hundred richer then fine, but be careful not to hang on so long you get wrecked waiting for gamestop-style results.
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BB was being touted for whatever reason, before the whole WSB hype train supposedly started on them. I guess because they got 5G...?
 
rj144 said:
20 million options expire.
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Sure, but what does that actually mean? They'll have to buy 20 million shares at whatever the market price is? What happens if they don't have the money? What if they say sorry we're bankrupt? Is that possible?
 
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