GameStop (GME) Insane Ride

[Mark80]

Thoughts on this insane ride with GameStop stock?  I am personally in at around $40/share.  I am fine losing everything I put into it.  I don't gamble with life savings, I gamble with what I can easily lose and not blink an eye over.  I absolutely love everything about this.  I love how a bunch of "idiot retail" investors can screw over some of the greediest people on the planet.  Then they cry about it saying we are manipulating the market like they do on a daily basis.  But, everything this is based off of is public knowledge.  They put themselves in this position with their greed and not hedging their bets.  Now, they are putting out bold faced lies into the media (looking at you CNBC) to stem  their bleeding and its not working and its fantastic.  Who else is in on this?

 

 

[Bferra13]

Im not in on it, but if I bought @ $40 a share id be out now. Its like $350 a share now!

[T&C]

https://www.baynews9.com/fl/tampa/business/2021/01/27/in-battle-over-gamestop-shares--two-big-players-flinch

 

AMC Entertainment Holdings Inc., the theater chain that has been ravaged by the pandemic, posted a quarterly loss this month exceeding $900 million.

It appears, however, that AMC has become the next battleground in the fight between smaller, retail investors, and Wall Street.

Shares of AMC spiked 260% when trading began Wednesday and #SaveAMC is trending on Twitter.

[Mark80]

33 minutes ago, T&C said:

https://www.baynews9.com/fl/tampa/business/2021/01/27/in-battle-over-gamestop-shares--two-big-players-flinch

 

AMC Entertainment Holdings Inc., the theater chain that has been ravaged by the pandemic, posted a quarterly loss this month exceeding $900 million.

It appears, however, that AMC has become the next battleground in the fight between smaller, retail investors, and Wall Street.

Shares of AMC spiked 260% when trading began Wednesday and #SaveAMC is trending on Twitter.

This is different and I'm not buying into it.  AMC is not shorted over 100% of their stock like Gamestop is/was.  This is growing because people want the next GME without the factors leading up to what GME did.  They are taking a stock that has long term potential because of them skirting bankruptcy and the inevitable opening back up of the theaters.  I'm not touching this one.  Gamestop has potential to get in 4 figures if people just hold their shares and wait until the shorts are called in.  Just my opinion, I am certainly no financial advisor!  Again, stuff like this you should only put in what you are comfortable losing!  I have all mutual funds except GME and Blackberry which I got at around $10.

[T&C]

5 minutes ago, Mark80 said:

This is different and I'm not buying into it.  AMC is not shorted over 100% of their stock like Gamestop is/was.  This is growing because people want the next GME without the factors leading up to what GME did.  They are taking a stock that has long term potential because of them skirting bankruptcy and the inevitable opening back up of the theaters.  I'm not touching this one.  Gamestop has potential to get in 4 figures if people just hold their shares and wait until the shorts are called in.  Just my opinion, I am certainly no financial advisor!  Again, stuff like this you should only put in what you are comfortable losing!  I have all mutual funds except GME and Blackberry which I got at around $10.

The market is absolutely sucking today too, I mean, there is still time but it looks to be a bad one.

[Jauronimo]

2 hours ago, Mark80 said:

Thoughts on this insane ride with GameStop stock?  I am personally in at around $40/share.  I am fine losing everything I put into it.  I don't gamble with life savings, I gamble with what I can easily lose and not blink an eye over.  I absolutely love everything about this.  I love how a bunch of "idiot retail" investors can screw over some of the greediest people on the planet.  Then they cry about it saying we are manipulating the market like they do on a daily basis.  But, everything this is based off of is public knowledge.  They put themselves in this position with their greed and not hedging their bets.  Now, they are putting out bold faced lies into the media (looking at you CNBC) to stem  their bleeding and its not working and its fantastic.  Who else is in on this?

 

Can't wait to see how the gov't tries to bail out billionaires....again...

What do you think is motivating the people who saw an opportunity to engineer a short squeeze by bidding up the price of GME to levels that are completely irrational?  Altruism?

 

Its all fun and games for now but a bunch of retail investors are going to get wiped out buying into GME and AMC.  Like any pump and dump, your gains are predicated on selling to a greater fool.  When GME starts plummeting there will be a race to the exits and you'll need people willing to scoop up shares.  The people with big enough positions to actually move the needle in GME know when the music is going to stop, the rest of this army of HODLers are useful idiots to them.

[DrDawkinstein]

17 minutes ago, Jauronimo said:

What do you think is motivating the people who saw an opportunity to engineer a short squeeze by bidding up the price of GME to levels that are completely irrational?  Altruism?

 

Its all fun and games for now but a bunch of retail investors are going to get wiped out buying into GME and AMC.  Like any pump and dump, your gains are predicated on selling to a greater fool.  When GME starts plummeting there will be a race to the exits and you'll need people willing to scoop up shares.  The people with big enough positions to actually move the needle in GME know when the music is going to stop, the rest of this army of HODLers are useful idiots to them.

 

Theyre using the same logic as the bitcoin hodlers.

 

To them, it isnt about making money as much as it is screwing the old players and creating a new system. They wanted to bankrupt the hedge fund that was trying to crush the GME stock. And it has worked!

 

They are beating Wall Street at their own game. Anyone who jumped on GME through /wallstreetbets outside of the first few days already knows they'll likely lose money. But this is about principle to them.

 

But all it will take is one whale holder to cash out and it will all come crashing down around them. I have suspected from the start that this was all Deep*****ingValue playing the other WSB users. He will be the first to bail, and make all the money. Rightfully so, since this was all his idea anyways.

 

What will be really interesting will be if the SEC steps in and changes rules to re-rig the system in favor of the big guys again.

 

But man... Melvin received a $2.75BILLION cash bailout on Monday, and poof, it is GONE today. Melvin is not planning on filing bankruptcy next week.

 

Crazy.

Edited January 27, 2021 by DrDawkinstein

[Jauronimo]

1 minute ago, DrDawkinstein said:

 

Theyre using the same logic as the bitcoin hodlers.

 

To them, it isnt about making money as much as it is screwing the old players and creating a new system.

 

They are beating Wall Street at their own game. Anyone who jumped on GME through /wallstreetbets outside of the first few days already knows they'll likely lose money. But this is about principle to them.

 

But all it will take is one whale holder to cash out and it will all come crashing down around them. I have suspected from the start that this was all Deep*****ingValue playing the other WSB users. He will be the first to bail, and make all the money. Rightfully so, since this was all his idea anyways.

 

What will be really interesting will be if the SEC steps in and changes rules to re-rig the system in favor of the big guys again.

 

But man... Melvin received a $2.75BILLION cash bailout on Monday, and poof, it is GONE today. Melvin is not planning on filing bankruptcy next week.

 

Crazy.

That is whats happening and that couldn't be farther from any principle besides pure greed.  Post like OPs and thousands of others are designed only to convince other people to drive up the price high enough to make a better exit.  The stock market is still a zero sum game. Short sellers and hedge funds are not the only ones who will be on the hook when the music stops.

 

Every stock with significant short interest is now a target in this scheme. 

[DrDawkinstein]

3 minutes ago, Jauronimo said:

That is whats happening and that couldn't be farther from any principle besides pure greed.

 

Has Wall Street ever operated under any other principle? That's what the stock market is all about.

[Mark80]

1 hour ago, Jauronimo said:

What do you think is motivating the people who saw an opportunity to engineer a short squeeze by bidding up the price of GME to levels that are completely irrational?  Altruism?

 

Its all fun and games for now but a bunch of retail investors are going to get wiped out buying into GME and AMC.  Like any pump and dump, your gains are predicated on selling to a greater fool.  When GME starts plummeting there will be a race to the exits and you'll need people willing to scoop up shares.  The people with big enough positions to actually move the needle in GME know when the music is going to stop, the rest of this army of HODLers are useful idiots to them.

 

I feel a large part of the group wants to see those hedge funds go bankrupt and if they make money on it too, great.  At least that's where I am.  I also believe that there is a HUGE difference between the greed of someone who has billions of dollars already and someone trying to change $1k into $10k, you know?  How much is enough for these hedge fund managers?  How many companies and their employees do they have to screw over for insane profits which is what short sellers basically do?

 

Absolutely people are going to get hurt here, no doubt.  But that is their own fault IMO. They need to understand the high risk / high reward paradigm and only put in what they can lose.  Unfortunately, many will put in way more than they can lose and will lose it.  No doubt.

 

But, with over 140% shares shorted, if you want to sell you should be able to when its time I think because the short sellers will have no choice but to by them when it expires so they buyers should be there....I hope.

56 minutes ago, DrDawkinstein said:

But all it will take is one whale holder to cash out and it will all come crashing down around them. I have suspected from the start that this was all Deep*****ingValue playing the other WSB users. He will be the first to bail, and make all the money. Rightfully so, since this was all his idea anyways.

 

What will be really interesting will be if the SEC steps in and changes rules to re-rig the system in favor of the big guys again.

 

But man... Melvin received a $2.75BILLION cash bailout on Monday, and poof, it is GONE today. Melvin is not planning on filing bankruptcy next week.

 

Crazy.

 

Yesterday he was still holding after $17M in gains.  Dude has had the stock since early 2019.  He is now an all-time legend and if I see him sell I'm out too.

Edited January 27, 2021 by Mark80

[Mark80]

54 minutes ago, Jauronimo said:

That is whats happening and that couldn't be farther from any principle besides pure greed.  Post like OPs and thousands of others are designed only to convince other people to drive up the price high enough to make a better exit.  The stock market is still a zero sum game. Short sellers and hedge funds are not the only ones who will be on the hook when the music stops.

 

Every stock with significant short interest is now a target in this scheme. 

 

Absolutely not true at all.  I would not recommend anyone buy this stock at this point.  Its too late IMO.  I would also encourage people to hold at this point because the actual numbers of the situation point to there still being way too many shorts out there.  Still, today, this very morning there was 139%!!! 

 

But, if you have some better information I would welcome it as to why this is over.  Personally, I don't trust for a second what the people who are losing Billions are trying to say or their bought and paid for media pundits or their hackers who shut down reddit and discord at the same time as the dip was happening this afternoon in an attempt to create that panic sell.  Unfortunately for them, none of their tricks and lies are working yet.

 

When VW was short squeezed in 2008 there were 7% of their shares shorted.  139% right now for GME, 139!

Edited January 27, 2021 by Mark80

[Back2Buff]

Seeing how everyone of what I invest is in tied to my SSN, I will not be participating in Market Manipulation or pumping/dumping.  

 

Also, do these dumb people realize this can back fire tremendously.  Piss off Wall Street, and they have the resources to pull billions out of market and tank everyone's 401k.  All fun and games till the big guy starts swinging.  

[Mark80]

1 minute ago, Back2Buff said:

Seeing how everyone of what I invest is in tied to my SSN, I will not be participating in Market Manipulation or pumping/dumping.  

 

Also, do these dumb people realize this can back fire tremendously.  Piss off Wall Street, and they have the resources to pull billions out of market and tank everyone's 401k.  All fun and games till the big guy starts swinging.  

 

Funniest argument to date. What do you think Hedge Funds with Billions upon Billions of assets under their control do?  Every single move they make is market manipulation.  Every press release about what they are buying and selling.  But hey, lets get upset when normal people spot a weakness of these jerks and expose it $1k at a time.  So funny.

[Jauronimo]

1 minute ago, Mark80 said:

 

Absolutely not true at all.  I would not recommend anyone buy this stock at this point.  Its too late IMO.  I would also encourage people to hold at this point because the actual numbers of the situation point to there still being way too many shorts out there.  Still, today, this very morning there was 139%!!! 

So theorizing that this stock can still triple and hit 4 figures is a caution to the people on this board to stay away?  Because that sounds like encouraging people to buy.

 

This whole strategy is based on the amount of short interest. Bidding up the price is designed to force shorts to cover or get margin called thus forcing them to buy shares to cover their positions.  If no one is selling then the shorts have to sweeten the deal further bidding up prices, forcing more margin calls, bidding up prices, forcing more margin calls, etc.  Shying away from GME now because of the amount of short interest makes little sense.  The huge short interest and plan to squeeze them out is where these wild figures like $5,000 are coming from.  No one "investing" in GME right now is doing so because they believe in the fundamentals.  

[Mark80]

8 minutes ago, Jauronimo said:

So theorizing that this stock can still triple and hit 4 figures is a caution to the people on this board to stay away?  Because that sounds like encouraging people to buy.

 

This whole strategy is based on the amount of short interest. Bidding up the price is designed to force shorts to cover or get margin called thus forcing them to buy shares to cover their positions.  If no one is selling then the shorts have to sweeten the deal further bidding up prices, forcing more margin calls, bidding up prices, forcing more margin calls, etc.  Shying away from GME now because of the amount of short interest makes little sense.  The huge short interest and plan to squeeze them out is where these wild figures like $5,000 are coming from.  No one "investing" in GME right now is doing so because they believe in the fundamentals.  

 

Indeed.  I wouldn't recommend now because the potential for loss at $350 is just so much greater than it is if you got in at below $50.  The stock isn't worthless.  I would propose it was undervalued before this all happened and should be in the 10-15 range most likely when all is said and done.  Going from 50 to 10 is a whole lot different than going from 350 to 10.  I can still believe its going to 4 figures (or close to) and recommend not to buy as it is by no means any sort of certainty and the risk is too high at this buy-in price point IMO.  Fundamentals are in no way part of this play.  Its all about the squeeze 100% and that may never actually come.  When I mentioned the numbers I was referring to the short numbers.  But, if trends continue tomorrow and Friday, it COULD be up to $1000 by EOD Friday.  COULD not will, COULD.

Edited January 27, 2021 by Mark80

[T&C]

Just throwing it out there, markets are closed.

 

Dow -659

S&P -102

Nasdaq -355

 

Horrible day overall.

[Mark80]

20 minutes ago, T&C said:

Just throwing it out there, markets are closed.

 

Dow -659

S&P -102

Nasdaq -355

 

Horrible day overall.

 

Another number I like ... is this in part caused by these shorters liquidating assets to get the cash they are going to need?  Or, a part I don't like ...  is this common folk liquidating assets to buy more of this or AMC or BB or whatever they are hoping will be the next GME?  The market itself will be back in no time if this, in fact, having an impact in some way.

Edited January 27, 2021 by Mark80

[MarkyMannn]

Bought NAKD at $1.01 at 3pm at closing $1.40

 

A friend told me to get into GME late last week at what was it?  $8?  Didn't do it   

7 hours ago, T&C said:

Just throwing it out there, markets are closed.

 

Dow -659

S&P -102

Nasdaq -355

 

Horrible day overall.

 

[MarkyMannn]

Just now, DrDawkinstein said:

 

No, its the result of thousands of retail traders banding together online to manipulate the market.

Yeah I'm not so sure it would take a TREMENDOUS amount of traders

 

Go to wallstreetbets and read all the stories of people that made a killing on GME............... or so they say.  I'd be scared to be in that now.  Just like that NAKD I bought, I doubt I hold that more than 1-2 days

[DrDawkinstein]

1 minute ago, MarkyMannn said:

Yeah I'm not so sure it would take a TREMENDOUS amount of traders

 

Go to wallstreetbets and read all the stories of people that made a killing on GME............... or so they say.  I'd be scared to be in that now.  Just like that NAKD I bought, I doubt I hold that more than 1-2 days

 

I've been following the whole time. No one has made any killing yet, because they arent cashing out.

[MarkyMannn]

This site should have an investments forum, something that would benefit all of us rather than the political forum that is all fights

1 minute ago, DrDawkinstein said:

 

I've been following the whole time. No one has made any killing yet, because they arent cashing out.

Yeah you are probably right on that. 

[DrDawkinstein]

1 minute ago, MarkyMannn said:

This site should have an investments forum, something that would benefit all of us rather than the political forum that is all fights

Yeah you are probably right on that. 

 

To clarify, my "awesome" like is to your idea of having an investment forum in place of PPP. Not just because you agreed with my other post, haha.

[T&C]

5 minutes ago, MarkyMannn said:

This site should have an investments forum, something that would benefit all of us rather than the political forum that is all fights

That is a great idea... but sites have to also have a political forum because of well, football. Maybe dump a little used place and just rename it.

Edited January 27, 2021 by T&C

[Simon]

Y'all can talk about investment trends right here if you like; just please don't bring the political stuff back into it.

[Reed83HOF]

[Dr Krentist]

I want to get into stocks, but it seems complicated. A lot of these terms you guys are using go right over my head. Maybe I'll just stick with my savings account, haha.

[Buffalo716]

This is a short squeeze that is about to happen

 

GameStop is going to skyrocket over the next 3 to 5 trading days. It's going to look like the Volkswagen short squeeze of 2008

 

Edited January 28, 2021 by Buffalo716

[US Egg]

I want to move everything into low risk for reasons I can't talk about here. My wife agrees with our advisor, who says give it a bit more time.

 

I had pretty nothing 25 yrs. ago entering my third marriage, neither did she. To lose what we have now would suck. 

 

I have no faith in.....

[Doc Brown]

My advice that's served me well over the years is take your favorite company in each sector and buy some more stock every time the market dips if you have the available cash wish a good mixture of reliably high dividend value stocks (Johnson & Johnson) and growth stocks (Amazon).  Avoid all the speculative crap.  

[Buffalo716]

3 minutes ago, Doc Brown said:

My advice that's served me well over the years is take your favorite company in each sector and buy some more stock every time the market dips if you have the available cash wish a good mixture of reliably high dividend value stocks (Johnson & Johnson) and growth stocks (Amazon).  Avoid all the speculative crap.  

I think Amazon is still a buy at this price

 

Do you feel the same

[Doc Brown]

33 minutes ago, Buffalo716 said:

I think Amazon is still a buy at this price

 

Do you feel the same

Yeah.  It's a machine.

[Doc Brown]

2 hours ago, I am the egg man said:

I want to move everything into low risk for reasons I can't talk about here. My wife agrees with our advisor, who says give it a bit more time.

 

I had pretty nothing 25 yrs. ago entering my third marriage, neither did she. To lose what we have now would suck. 

 

I have no faith in.....

Waste Management - there will always be garbage to pick up.

[Mark80]

Robinhood now not allowing you to buy GME and many others.  They are now restricting free individuals to do as they please to protect hedge fund managers under the disguise of protecting the people.  This is the kind of deck that is stacked against every normal person in this country.  Such a shame.  Hope it still doesn't work but gets people more determined and Robinhood goes by by after this.

 

What this means in layman's terms is that the only people who can buy stock now are major players ... aka ... the hedges that are shorted.  If people hold they are still in big big trouble.  LET ME EDIT THIS, THE BIG PLAYERS HAVE A MUCH EASIER WAY TO BUY THAN RETAIL BUYERS NOW SINCE ROBINHOOD HAD A TON OF THESE ACCOUNTS NOW THEY HAVE TO OPEN NEW ACCOUNTS ELSEWHERE AND GET FUNDS INTO WHICH IS TIME CONSUMING IN A TIME CRITICAL PLAY.

 

This is an epic event and I'm so happy to be part of it even if only for a minimal amount.  The movie is gonna be great.

9 hours ago, I am the egg man said:

I want to move everything into low risk for reasons I can't talk about here. My wife agrees with our advisor, who says give it a bit more time.

 

I had pretty nothing 25 yrs. ago entering my third marriage, neither did she. To lose what we have now would suck. 

 

I have no faith in.....

 

Best decision you can make for this is a market index mutual fund.  I like S&P personally but any are fine.  Your money goes with the market.  Expect 8-12% gains most years.  Don't even have to do anything to it, they maintain it for you.

Edited January 28, 2021 by Mark80

[sherpa]

54 minutes ago, Mark80 said:

Robinhood now not allowing you to buy GME and many others.  They are now restricting free individuals to do as they please to protect hedge fund managers under the disguise of protecting the people.  What this means in layman's terms is that the only people who can buy stock now are major players ... aka ... the hedges that are shorted.  If people hold they are still in big big trouble.

 

Did you really mean this?

You can buy GME or anything else anywhere else.

Robinhood restriction has infinitely little to do with the ability to buy this or other issues. 

[Mark80]

5 minutes ago, sherpa said:

 

Did you really mean this?

You can buy GME or anything else anywhere else.

Robinhood restriction has infinitely little to do with the ability to buy this or other issues. 

 

Sorry, that language was a bit aggressive and misleading.  I added an edit.

[FireChans]

18 minutes ago, sherpa said:

 

Did you really mean this?

You can buy GME or anything else anywhere else.

Robinhood restriction has infinitely little to do with the ability to buy this or other issues. 

Uh, Ameritrade also blocked it. And Schwab.

 

https://www.google.com/amp/s/www.marketwatch.com/amp/story/gamestop-amc-trading-is-now-being-restricted-at-td-ameritrade-11611769804

 

So no, you can’t.

Edited January 28, 2021 by FireChans

[Jauronimo]

Well that was an interesting ride.  Looks like all these diamond handed warriors have cashed in their shares and are running for the exits.  Will there be another rally and attempt at a squeeze around $150 or is this thing coming all the way back down to $40 before a long slow grind to $20?

[sherpa]

29 minutes ago, FireChans said:

Uh, Ameritrade also blocked it. And Schwab.

 

https://www.google.com/amp/s/www.marketwatch.com/amp/story/gamestop-amc-trading-is-now-being-restricted-at-td-ameritrade-11611769804

 

So no, you can’t.

 

When I posted what I did, you absolutely could.

 

Further, I just logged in to my tdameritrade account, the firm you mentioned, and put in a limit trade for GME, which was taken, no problem.

I cancelled the limit order, but it certainly did not restrict me from placing the order.

Edited January 28, 2021 by sherpa

[Mark80]

....and I got out at 175.  bought @40, sold @175.  Missed the big $400+ but still not a bad couple weeks!  Be prepared for Robinhood to get destroyed over this.  I'm taking all my money out as soon as possible. Also be prepared for it to go to over $1k tomorrow since I sold my shares!

Edited January 28, 2021 by Mark80

[Doc]

Class action lawsuit filed against Robinhood and likely coming against all others who restricted buying GME and now AMC.