Reddit and GameStop

[Alumni Guy]

Funny thing is the stock was worth a ton, but no one would actually want to buy/open GameStop Franchise.

Goes to show you how the market can be so detached from financial reality.

 

[Mr2Bits]

This is absolutely baffling to me.

I don't see how the stock ever clears $200 again. Most of the shorts have closed.

He did put $13 million in cash so he has life changing money no matter what happens, but he could have had $50 million.

Maybe he really believes it hasn't seen its peak. Maybe there is some kind of psychological thing going on where he can't cut his losses after seeing it so high. Maybe the SEC came and talked to him and he is trying to create proof that this wasn't a pump and dump. These all seem unlikely to me, but I can't think of any other reasons.

Or you have people making up fake story not showing any proof they are actually on the losing side of this to keep pushing it while laughing at the people that see this and think its a good idea to jump in.

 

[DallasTXGator]

Well the big surge in Silver turned out to be bust. It's right back to where it started a week ago. I guess it's harder to move a commodity traded worldwide than some slumping stocks that were highly shorted. There was money to be made late last week for about 2 days (I got in briefly Monday morning with SLV, but closed it almost immediately when it went sideways on me). The online sellers are still charging mid-$30s per ounce even today with a spot price of $26. That's a 33% premium. If they are selling still at those prices, it seems like they were the real winners....

 

[Concrete Helmet]

Well the big surge in Silver turned out to be bust. It's right back to where it started a week ago. I guess it's harder to move a commodity traded worldwide than some slumping stocks that were highly shorted. There was money to be made late last week for about 2 days (I got in briefly Monday morning with SLV, but closed it almost immediately when it went sideways on me). The online sellers are still charging mid-$30s per ounce even today with a spot price of $26. That's a 33% premium. If they are selling still at those prices, it seems like they were the real winners....

My understanding is even the rush on Eagles and small bars wasn't enough to pressure the big bars(1000 oz)vault silver. Still I grabbed some more Eagles and 1oz bars before the premiums shot up and added more paper last week to go with what I already had at mid 23's....It's going up but not like a dollar stock. My guess is it hits $35-38 by late summer/fall....gold went on sale today too...grabbed more nuggets right under $1800

 

[Bernardo de la Paz]

The market for silver is a few hundred times the size of GME and it isn't heavily shorted. That little blurb that was supposedly from a banker worried about them collapsing financial markets was bs. Most likely someone with a leveraged long position in silver hoping to get these guys to give it a little pop.

 

[bradgator2]

 

[FireFoley]

Well perhaps something has fundamentally changed with GME's business to explain it being up over 100% today. Or perhaps it is the old "more buyers than sellers" reason. Or more like all buyers and no sellers, LOL

 

[Alumni Guy]

Any clue what’s causing the up-tick? No way it’s another squeeze. Bunch of nerds on Reddit decide to get together again?

 

[FireFoley]

Any clue what’s causing the up-tick? No way it’s another squeeze. Bunch of nerds on Reddit decide to get together again?

Other than the CFO being fired, nothing else that I know of. Now don't get me wrong often times the removal of a top officer can cause a stock to rally, but in this case I don't see a move from 40 to 175 in a matter of 2 hours when the move was announced prior to the opening to be the cause. I think it is just another one of these things and short sellers will be less aggressive than they were in the past and right size any short position. I only hope that those who were still long "hoping" the stock would come back will sell into this rally even if it is to lessen their losses.

 

[Alumni Guy]

I only hope that those who were still long "hoping" the stock would come back will sell into this rally even if it is to lessen their losses.

This.

A lot of naive people lost a lot of money on an idealistic cause when Wall Street only cares about economics. They probably got a hard lesson this month, this is the closest they will get to a parachute.

 

[BMF]

This is very surprising to me. I'd love to understand what's caused this to shoot up again.

 

[Alumni Guy]

GameStop is back up to $146. WTF is going on.

The board of GameStop should get their SEC filings in to sell shares at that price.

 

[-THE DUDE-]

This.

A lot of naive people lost a lot of money on an idealistic cause when Wall Street only cares about economics. They probably got a hard lesson this month, this is the closest they will get to a parachute.

 

[Gator By Marriage]

Well perhaps something has fundamentally changed with GME's business to explain it being up over 100% today. Or perhaps it is the old "more buyers than sellers" reason. Or more like all buyers and no sellers, LOL

Last weekend I was driving up I-65 in Tennessee and Kentucky and passed a large GameStop facility (outside Nashville maybe?). I was struck by a huge banner on the side of the building that said “Now Hiring”. Interesting, no?

 

[Alumni Guy]

Turns out bots and foreign influence may have played a part in the GameStop Sega, I mean Saga.

Please excuse my pun, I didn’t Nintendo, I mean intend to be so corny.

Bots hyped up GameStop on major social media platforms, analysis finds

 

[BMF]

Last weekend I was driving up I-65 in Tennessee and Kentucky and passed a large GameStop facility (outside Nashville maybe?). I was struck by a huge banner on the side of the building that said “Now Hiring”. Interesting, no?

I was in Louisville last weekend and saw the same thing. There is a huge warehouse looking building w/ a big Game Stop sign and a 'now hiring' banner.

 

[Detroitgator]

I was in Louisville last weekend and saw the same thing. There is a huge warehouse looking building w/ a big Game Stop sign and a 'now hiring' banner.

Yeah, he's probably thinking about the same one in Shepherdsville

 

[Gator By Marriage]

I was in Louisville last weekend and saw the same thing. There is a huge warehouse looking building w/ a big Game Stop sign and a 'now hiring' banner.

That might have been the one. I couldn't remember if it was in Louisville or Nashville; just knew it had to be off I-65.

 

[FireFoley]

Yeah, he's probably thinking about the same one in Shepherdsville

Yep that's the one. My bro lives in Loolvul (as they say) and I have passed that place many a time

 

[FireFoley]

Turns out bots and foreign influence may have played a part in the GameStop Sega, I mean Saga.

Please excuse my pun, I didn’t Nintendo, I mean intend to be so corny.

Bots hyped up GameStop on major social media platforms, analysis finds

I am not sure I believe this. I was told that everything on Facepenus, Tweeter, Instapuke and MyTube was 100% factually accurate. This just can';t be. Now if you will excuse me I have a game of Pong awaiting me on my Atari.