GameStop (GME) Insane Ride

[Chef Jim]

32 minutes ago, Jauronimo said:

https://www.bloomberg.com/news/articles/2021-02-01/gamestop-short-interest-plummets-in-a-sign-traders-are-covering

 

According to IHS and S3 short interest is way down as of Monday.  You sure retail isn't selling? 

 

Of course they are selling.  They're not ALL idiots.  

[Mark80]

4 minutes ago, Chef Jim said:

 

I see. So the mission is to make money regardless of the debris you leave in your wake.  That's what I thought.  

 

You're gonna lose.  It's probably going to plummet to double, maybe even single digits.  You're Pop Warner playing against the Chiefs.  

 

Except I already cashed out last week at $170 (when they fooled me with their shutting down of robinhood, discord, WSB for a few hours and associated price crash) when I bought in for $40 as I mentioned already in this thread.  I just got back in with only $1k of the profits that I am holding.  I, sir, cannot lose here at this point.

[Jauronimo]

Just now, Chef Jim said:

 

Of course they are selling.  They're not ALL idiots.  

I'm pretty sure the people who started this campaign and realized they could harness the power of weaponized autism to unload their shares to militant bag holders who are just proud to be part of "the movement" are anything but stupid.  There are legions of people online convinced they are part of a "movement" or part of history when the market is, has been, and will always be a zero sum game, every man for himself.

 

When you hear words like "no one sell!" thats advice for you, not them.  The last time I heard "no one sell" was Enron leadership coordinating their exit.  It was only a matter of time

[Chef Jim]

1 minute ago, Mark80 said:

 

Except I already cashed out last week at $170 (when they fooled me with their shutting down of robinhood, discord, WSB for a few hours and associated price crash) when I bought in for $40 as I mentioned already in this thread.  I just got back in with only $1k of the profits that I am holding.  I, sir, cannot lose here at this point.

 

You cannot lose??  What makes you say that?  What is the true value of GME?  

[GoBills808]

3 minutes ago, Mark80 said:

 

Except I already cashed out last week at $170 (when they fooled me with their shutting down of robinhood, discord, WSB for a few hours and associated price crash) when I bought in for $40 as I mentioned already in this thread.  I just got back in with only $1k of the profits that I am holding.  I, sir, cannot lose here at this point.

So your 'movement' consisted of getting some sucker to buy at $170 by pumping your stock in a Buffalo Bills thread?

[Mark80]

Just now, Chef Jim said:

 

You cannot lose??  What makes you say that?  What is the true value of GME?  

 

I cannot lose because I look at it as a whole event.  I already sold all my shares and bought back in with only $1k of the profits.  I've already pocketed back my investments plus additional profits.  So, I can't lose as I see it, only win less.

[Chef Jim]

Just now, Jauronimo said:

I'm pretty sure the people who started this campaign and realized they could harness the power of weaponized autism to unload their shares to militant bag holders who are just proud to be part of "the movement" are anything but stupid.  There are legions of people online convinced they are part of a "movement" or part of history when the market is, has been, and will always be a zero sum game, every man for himself.

 

When you hear words like "no one sell!" thats advice for you, not them.  The last time I heard "no one sell" was Enron leadership coordinating their exit.  It was only a matter of time

 

They have become the "evil market manipulators" that they were fighting.  I understand that is part of their point but the amount of debris they leave in their wake is unfortunate.  Play stupid games win stupid prizes.  

[Mark80]

Just now, GoBills808 said:

So your 'movement' consisted of getting some sucker to buy at $170 by pumping your stock in a Buffalo Bills thread?

 

In no way encouraged anyone to do anything.  In fact, i specifically said I do not recommend getting involved.  I'm just discussing the subject and offering my opinions on it same as everyone else.

[Chef Jim]

1 minute ago, Mark80 said:

 

I cannot lose because I look at it as a whole event.  I already sold all my shares and bought back in with only $1k of the profits.  I've already pocketed back my investments plus additional profits.  So, I can't lose as I see it, only win less.

 

Ahhh you got yours.  Good for you.  

[Just Jack]

5 hours ago, Jauronimo said:

When you hear words like "no one sell!" thats advice for you, not them.  The last time I heard "no one sell" was Enron leadership coordinating their exit.  It was only a matter of time

 

I used to work for a nationwide IT contracting company about 20 years ago. We merged/bought another company, and within a year, business started going downhill, people were being laid off or quitting, companies weren't renewing contracts. Several coworkers were gung ho about buying up more of our stock since it had dropped so much, and I'm standing there listening to them, and thinking you're an idiot, look around you. Sure enough, about three months after I left the company went under. One day, security contractors showed up at all the offices, told everyone to leave, and locked the doors. 

[T&C]

I see GME closed today at $94.75... down -57.89. Great day for the markets overall.

[Chef Jim]

56 minutes ago, T&C said:

I see GME closed today at $94.75... down -57.89. Great day for the markets overall.

 

GME will most likely continue the slide back to reality the rest of the week.  Lot of people probably lost a decent amount of money so a bunch of message board geeks could "prove a point"  David didn't really slay Goliath.  He poked him in the eye, got him pissed and was squashed like a bug.  

 

This is why I always say:  Thanks for the advice but I don't need any advice.  

[DrDawkinstein]

On 2/1/2021 at 9:17 AM, T&C said:

Silver is the new Gamestop:

 

https://www.baynews9.com/fl/tampa/business/2021/02/01/silver-is-the-new-gamestop--price-boosted-by-online-movement

 

Reddit has no part in the silver market. That is being pushed by outsiders looking to take advantage of the hype.

 

 

 

Just go to the source, folks. Lot of good info here.

 

https://www.reddit.com/r/wallstreetbets/

[T&C]

6 minutes ago, DrDawkinstein said:

 

Reddit has no part in the silver market. That is being pushed by outsiders looking to take advantage of the hype.

 

 

 

Just go to the source, folks. Lot of good info here.

 

https://www.reddit.com/r/wallstreetbets/

Good info? Where? That place is a hell hole lol.

[Jauronimo]

https://www.barrons.com/articles/gamestops-short-sellers-are-fleeing-bulls-may-want-them-back-51612287815?mod=hp_LEAD_2

 

Quote

Ihor Dusaniwsky, managing director at S3 Partners, told Barron’s on Tuesday that only 26.09 million GameStop shares were recently sold short, or about 51% of shares available for trading. That’s down by more than 35 million shares over the past week alone, implying last week’s surge was driven in part by large-scale short covering.

 

If you factor in so-called synthetic longs, which are long positions that can be double counted as a result of the short-selling process, S3 estimates an adjusted short interest of only about 34% of shares available for trading. When an entity loans its shares to a short seller, the short seller then sells to a new owner. Technically, both the original holder and the new buyer are long, despite no new shares being created. Dusaniwsky says adjusting for this process gives a more logical and accurate look at short interest.

 

Wait, were other long hedge funds the actual winners here?

 

Quote

Gary Black, who was a leading tobacco analyst for Bernstein in the 1990s and the former chief executive of Aegon Asset Management, said on Twitter he believes the squeeze is “all but over as hedge funds who shorted offset their positions, and other hedge funds long the squeeze are onto other trades.” Black is also active on Twitter talking about electric vehicles.

 

All that GME money flowing into THCB and CCIV has been nice.

Edited February 2, 2021 by Jauronimo

[BarkLessWagMore]

7 hours ago, Jauronimo said:

I'm pretty sure the people who started this campaign and realized they could harness the power of weaponized autism to unload their shares to militant bag holders who are just proud to be part of "the movement" are anything but stupid. 

 

That is pure gold. Well done.

[DrDawkinstein]

3 hours ago, T&C said:

Good info? Where? That place is a hell hole lol.

 

Well, no kidding. That's the schtick. But if someone it trying to follow the story, then go to the source. They made a point in saying it isnt WSB driving the silver action.

[T&C]

47 minutes ago, DrDawkinstein said:

 

Well, no kidding. That's the schtick. But if someone it trying to follow the story, then go to the source. They made a point in saying it isnt WSB driving the silver action.

Oh I know, but it has been an interesting story. I have no dog in That race. 

 

Good day today:

 

Dow up 475

S&P up 52

Daq up 209

 

Tapered way down towards the end but still happy with today's results. 

[Just Jack]

Under $100/share now. Wonder how many of those people saying to hold because it was going to go over $1000/share are now wishing they sold when it hit $400/share. 

[Doc]

2 hours ago, Just Jack said:

Under $100/share now. Wonder how many of those people saying to hold because it was going to go over $1000/share are now wishing they sold when it hit $400/share. 

 

A nurse at work has a son who went to an expensive college in Florida for video game design.  He wasted his time and left them with $100K in debt.  He had GME and was counting his money and I told her "tell him to sell while it's in the $300s because it's probably not going much higher."  He didn't.

[Chef Jim]

6 hours ago, Doc said:

 

A nurse at work has a son who went to an expensive college in Florida for video game design.  He wasted his time and left them with $100K in debt.  He had GME and was counting his money and I told her "tell him to sell while it's in the $300s because it's probably not going much higher."  He didn't.

 

Of course not because he took advice from strangers on a message board.  I may joke with my  "thanks for the advice......." schtick but this is EXACTLY what I'm talking about.  

[Jauronimo]

9 hours ago, Just Jack said:

Under $100/share now. Wonder how many of those people saying to hold because it was going to go over $1000/share are now wishing they sold when it hit $400/share. 

A lot of the people who were saying hold at all costs had no intention of actually taking their own advice. Legitimate financial advice never comes with a caveat that you shouldn't take profits.  

[Mark80]

I have a sneaking suspicion that this is not over yet.

[Jauronimo]

16 minutes ago, Mark80 said:

I have a sneaking suspicion that this is not over yet.

How much you buying?

[Mark80]

1 minute ago, Jauronimo said:

How much you buying?

 

Just got 3 more.  Now have a whopping 7 total.

[T&C]

Not a bad week at all:

 

On Friday:

The S&P 500 rose 15.09 points, or 0.4%, to 3,886.83.

The Dow Jones Industrial Average rose 92.38 points, or 0.3%, to 31,148.24.

The Nasdaq rose 78.55 points, or 0.6%, to 13,856.30.

The Russell 2000 index of smaller companies rose 30.91 points, or 1.4%, to 2,233.33.

 

For the week:

The S&P 500 is up 172.59 points, or 4.6%.

The Dow is up 1,165.62 points, or 3.9%.

The Nasdaq is up 785.60 points, or 6%.

The Russell 2000 is up 159.69 points, or 7.7%.

 

For the year:

The S&P 500 is up 130.76 points, or 3.5%.

The Dow is up 541.76 points, or 1.8%.

The Nasdaq is up 968.01 points, or 7.5%.

The Russell 2000 is up 258.47 points, or 13.1%.

[T&C]

Parents to Sue Trading App Robinhood After Son Took His Own Life:

 

https://www.baynews9.com/fl/tampa/news/2021/02/08/alex-kearns-robinhood-trading-app-stocks

[Warcodered]

31 minutes ago, T&C said:

Parents to Sue Trading App Robinhood After Son Took His Own Life:

 

https://www.baynews9.com/fl/tampa/news/2021/02/08/alex-kearns-robinhood-trading-app-stocks

Been getting a bunch of their ads on YouTube here lately, not sure why they're bothering.

[Doc]

Sad.

[T&C]

1 hour ago, Warcodered said:

Been getting a bunch of their ads on YouTube here lately, not sure why they're bothering.

I think they just go by recent searches. If you searched for say cake recipes that will show up. Same with Google.

[Warcodered]

1 minute ago, T&C said:

I think they just go by recent searches. If you searched for say cake recipes that will show up. Same with Google.

I haven't been looking up this story really at all though.

[Mark80]

On 2/5/2021 at 12:59 PM, Mark80 said:

I have a sneaking suspicion that this is not over yet.

 

....so....did someone say that this wasn't over yet or what?  Interesting last 2 days, expect more today!

[Chef Jim]

3 hours ago, Mark80 said:

 

....so....did someone say that this wasn't over yet or what?  Interesting last 2 days, expect more today!

 

I expect a lot of pissed off people that were told to "hold at all costs" at $350 that finally couldn't take it any longer and got out at $45.  When kids play big boy games they usually get their ass handed to them. 

[cwchze]

Bunch of coworkers and I play the market. We all have bunch of money in 401k so this is fun. Been buying companies on the downside and dumping them when they hit our benchmark. Usually 100 shares at a whack. We all started with 5k last summer and we are avg about 15k now so far so good.

what we like:

ford

ge

gtbif

tesla got in at 440.. wow

novn got in at .49

blink

plug power

carnival

[Mark80]

Just in case you are not paying attention - Gamestop is over $240 again.

[TBBills]

2 hours ago, Mark80 said:

Just in case you are not paying attention - Gamestop is over $240 again.

Maybe you should get out now then... Before it crashes again

[Jauronimo]

4 hours ago, Mark80 said:

Just in case you are not paying attention - Gamestop is over $240 again.

What is the price of tulips?

[Mark80]

16 hours ago, Jauronimo said:

What is the price of tulips?

 

Well, I can tell you this, if the price of a share of GME rose to the levels that the price of a bulb reached I am going to be one happy camper since that was estimated to be above a skilled laborers salary for an entire year per bulb before it crashed and I would be long gone by that point!

[DrDawkinstein]

Semi Off Topic Question:

 

As someone who is very amateur when it comes to Stocks, how do I get the best jump on an IPO?

 

From what I DO know (or at least think I know), when an IPO hits a stock comes out at it's IPO price. Let's use $20 for this example.

 

But by the time my lowly amateur, retail account can by any, it has already jumped up to $50. (I think)

 

How can I get better access to the original IPO price? Also, are there any good tools/sources for tracking IPOs to know when one is coming? (I have a specific one in mind, but no idea when it will open)

[Jauronimo]

10 minutes ago, DrDawkinstein said:

Semi Off Topic Question:

 

As someone who is very amateur when it comes to Stocks, how do I get the best jump on an IPO?

 

From what I DO know (or at least think I know), when an IPO hits a stock comes out at it's IPO price. Let's use $20 for this example.

 

But by the time my lowly amateur, retail account can by any, it has already jumped up to $50. (I think)

 

How can I get better access to the original IPO price? Also, are there any good tools/sources for tracking IPOs to know when one is coming? (I have a specific one in mind, but no idea when it will open)

As far as I know, you can't unless you're an investment bank or a high net worth individual who has those connections.  Better explanation copied below:

 

Quote

Let’s first understand who prices and raises funds for an IPO.

 

IPOs are brokered typically by a syndicate of underwriters known as investment banks (there can be one underwriter but most times it’s a syndicate to spread risk). The investment banks purchase the shares from the company to sell on its behalf for a fee. They determine the price per share and the amount the company should aim to raise. They also attract investors within their network and on the IPO road show. The road show is when the banks/company goes around presenting to investors. The goal is to raise X amount of dollars so that the company can use these proceeds to grow.

 

That said, to participate in purchasing shares at the IPO price means you need to be an accredited investor such as a large institutional investor. The reason why the everyday retail investor is not invited to purchase shares at the IPO price is because investment banks want to sell larger chunks at one time, which is something most retail investors can not afford. Most times, the firms that participate and buy shares at the IPO price are ones that do business with the investment banks regularly, hence, they tap their network first. If the IPO is popular, some of these firms may not even get a chance to buy in.

There are also inherit risks in buying shares at the IPO price, which is why investment banks do a road show and charge a substantial fee. They try to reduce this risk. Additionally, a lot of companies have private or venture capital firms that previously invested in the company. This is something to watch for because some of these shares could be registered to be sold in the IPO. The rest, insiders included, would be a part of the lockup agreement. You can register shares to be sold in the IPO in two ways:

 

Shares sold by the investment bank for the IPO could be registered as apart of the debut offering so that they can be sold the day shares start trading on the market

there also are “selling shareholders” such as VC firms or private firms that invested in the company prior and want to get out at the IPO

From the S.E.C. Website:

 

Existing shareholders can sell their shares in the IPO if their shares are included in and registered as part of the offering. Most large IPOs include only new shares that the company sells in order to raise capital. However, in some cases, shares held by existing shareholders are included in the IPO and the shareholders are called “selling shareholders.” The proceeds from the sales by selling shareholders do not go to the company and instead go to the selling shareholders.

 

Once the IPO is fully subscribed, or over subscribed, it goes public. The institutions that weren’t registered with the offering can decide to sell or hold shares after the lockup agreement is over. This lockup acts as a hedge for the share price as it prevents a massive sell off.

Retail investors come in at the IPO debut on the secondary market. The shares sold could be by insiders, private firms, and VC funds registered to sell right away, or lastly, institutions who bought at the IPO price and decided to sell.