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GME short squeeze
Posted on 1/18/21 at 5:42 pm
Posted on 1/18/21 at 5:42 pm
What is a short squeeze
Biggest short squeeze so far, 2008
Anyone else getting in on GME? Seems like this week could be red or some red in the short term but once it pops, you better be on the train.
GME marketwatch
I never knew much about a 'squeeze' but all this GME news lately has gotten me to dive deeper and it seems legit as frick.
The public float is 51.56 million shares, yet the short interest is 71.2 million and the % of float shorted is 138% (dec 2020 number). I saw something where it showed a more recent updated "% of float shorted" and it was over 200%.
Anyone with more knowledge on the subject, whats your thoughts on GME and the squeeze that is coming? Seems like this is way bigger than the 2008 Volkswagen squeeze. Seems like this is the one to bet the house on. Thoughts?
Biggest short squeeze so far, 2008
Anyone else getting in on GME? Seems like this week could be red or some red in the short term but once it pops, you better be on the train.
GME marketwatch
I never knew much about a 'squeeze' but all this GME news lately has gotten me to dive deeper and it seems legit as frick.
The public float is 51.56 million shares, yet the short interest is 71.2 million and the % of float shorted is 138% (dec 2020 number). I saw something where it showed a more recent updated "% of float shorted" and it was over 200%.
Anyone with more knowledge on the subject, whats your thoughts on GME and the squeeze that is coming? Seems like this is way bigger than the 2008 Volkswagen squeeze. Seems like this is the one to bet the house on. Thoughts?
7
Posted on 1/18/21 at 6:12 pm to KickPuncher
quote:
Seems like this is the one to bet the house on.
Sounds like a great way to lose your house
Other than the “short squeeze” tell me why this stock goes up? Went to the mall a few times over Christmas and if I saw 5 people in GameStop, I saw plenty.
Posted on 1/18/21 at 6:25 pm to KickPuncher
There is a whole thread on this. Some have been in from the beginning of this wild ride. Me, I wish I had been. I'm not sure now is the time to jump in.
LINK
LINK
This post was edited on 1/18/21 at 6:26 pm
Posted on 1/18/21 at 6:27 pm to TJG210
Didn't gamestop already pop due to short squeeze?
Are you suggesting much more to come? Im not sure how this works exactly, care to explain your reasoning that it goes up beyond what we have already seen?
Are you suggesting much more to come? Im not sure how this works exactly, care to explain your reasoning that it goes up beyond what we have already seen?
Posted on 1/18/21 at 7:08 pm to KickPuncher
The time to get in was when the first guy brought it up and everyone shite on him.
Posted on 1/18/21 at 7:22 pm to GrizzlyAlloy
Still plenty of time to get in. Do you guys understand that there are ~71 million short interest with ~51 million public shares. I get it is over a lot of you all's head but theres gotta be some other smarter people here who can chime in and contribute to this thread.
Posted on 1/18/21 at 7:32 pm to KickPuncher
quote:
Do you guys understand that there are ~71 million short interest with ~51 million public shares.
I really don’t understand this, tbh. But I am intrigued. I have been casually following this.. Wall Street bets on Reddit is going nuts over it. How high is the stock price going to go?
What is the play? Buy shares of GME immediately upon open tomorrow and the shorts have to cover soon and the price moons? Then once that happens make sure you get out before the stock price falls off a cliff?
This post was edited on 1/18/21 at 7:34 pm
Posted on 1/18/21 at 7:38 pm to PhiTiger1764
Lol while I still think there's a lot of upwards movement for GME, WSB has been calling for this shite for months now. It was laughable week in and week out, and then last week it finally happens lol. I hold no positions in GME, but couldn't help but smile for those who held out through all of it
Posted on 1/18/21 at 7:58 pm to htcthc321
its up like 800% in last 4 months, maybe squeeze is just last 100%
Posted on 1/18/21 at 8:21 pm to KickPuncher
I know that if went from $20-39 this past Wednesday with over 144M shares traded, another 93M the next day. That would cover the shorts correct?
Posted on 1/18/21 at 8:24 pm to htcthc321
Yeah, like the guy on Reddit who posted his monthly E*TRADE account which was totally in GME options. He went from $42,000 to $7.2 million in less than a year!
Posted on 1/18/21 at 8:43 pm to KickPuncher
As someone who doesn’t do individual securities, this feels like a scenario in which I dump a few grand in it tomorrow morning and it immediately begins its 40+% drop over the next 12 months lol
Posted on 1/19/21 at 12:31 am to PhiTiger1764
quote:buying itm puts on the way up to watch them pay later when this goes back to being a billion dollar company it is right now.
What is the play? Buy shares of GME immediately upon open tomorrow and the shorts have to cover soon and the price moons? Then once that happens make sure you get out before the stock price falls off a cliff?
Posted on 1/19/21 at 1:02 am to KickPuncher
Ive pushed GameStop here around the $17 range. Been in personally since $4.50. I’ve taken heavy profits on my options but maintained my shares and have a few call options I rolled out.
I am in for the short squeeze still. Short interest reduced from 79 million to 71 million last week. So we did see some squeeze but a long way to go. I expect to see more movement tomorrow, we are on SSR and margin is being restricted on GME, plus a large amount of hype coming in for the squeeze bringing buyers. GME made big moves across international markets today, implying a large move for GME in the US market tomorrow
Also the largest short position firm had a really large number of put options expire worthless Friday that were bought when they were far ITM. Good chance they stop trying as hard to manipulate the stock price now, which will allow this thing to fly. And Ryan Cohen has been tweeting cryptic emojis and picture combos at us for a month now, and this weekend he tweeted Peanuts emoji and a gif saying “so you’re saying there’s a chance”. Obv very cryptic, but he’s only tweeted about GME for months, so pretty clear he’s saying what we have is peanuts and there’s a real chance of a massive short squeeze soon
I am in for the short squeeze still. Short interest reduced from 79 million to 71 million last week. So we did see some squeeze but a long way to go. I expect to see more movement tomorrow, we are on SSR and margin is being restricted on GME, plus a large amount of hype coming in for the squeeze bringing buyers. GME made big moves across international markets today, implying a large move for GME in the US market tomorrow
Also the largest short position firm had a really large number of put options expire worthless Friday that were bought when they were far ITM. Good chance they stop trying as hard to manipulate the stock price now, which will allow this thing to fly. And Ryan Cohen has been tweeting cryptic emojis and picture combos at us for a month now, and this weekend he tweeted Peanuts emoji and a gif saying “so you’re saying there’s a chance”. Obv very cryptic, but he’s only tweeted about GME for months, so pretty clear he’s saying what we have is peanuts and there’s a real chance of a massive short squeeze soon
This post was edited on 1/19/21 at 1:28 am
Posted on 1/19/21 at 2:42 am to KickPuncher
I have jumped in and out of GME with call options but there's too much smart money on the short side for me to ride significant funds on. I also think its a company that may issue a stock offering any day now.
Posted on 1/19/21 at 3:03 am to Rust Cohle
quote:Yep.
its up like 800% in last 4 months, maybe squeeze is just last 100%
4am, already up 15.5%
market open can't come fast enough.
Posted on 1/19/21 at 3:10 am to Capt ST
quote:Not even close.
I know that if went from $20-39 this past Wednesday with over 144M shares traded, another 93M the next day. That would cover the shorts correct?
Also seems like nothing much can be done about it other than the SEC stepping in and setting a precedent.
quote:
~71 million short interest with ~51 million public shares.
That means that there is 51 million shares available to the public to be traded. When you short a stock you borrow it from the broker (or who actually owns it), say 1000 shares, and then you have to return those 1000 shares later in the future. Usually you do this when you think the price will drop, which was working fine for GME until it didn't. Which is now.
So the 71 million is the amount of shares shorted, that must be replenished and given back to those that lent out the shares. But this is why it is so gravy, is because there is only 51 million shares total to trade. But these numbers are from the end of DEC, which is likely to be even worse now for the shorters.
Friday looked to be a sell off by some to realize profits. But this thing is just getting started.
Also for all you doubters, look at the 2008 volkswagen squeeze as a case study. It was the biggest in history and this is going to be bigger. Think Volk was around 200 and went up to almost 1000 because of it.
This post was edited on 1/19/21 at 3:11 am
Posted on 1/19/21 at 5:23 am to Capt ST
quote:
I know that if went from $20-39 this past Wednesday with over 144M shares traded, another 93M the next day. That would cover the shorts correct?
Yes but we have the new official short interest number and only 10% of short shares were covered
Posted on 1/19/21 at 5:30 am to Upperdecker
quote:So what is your take on this? I know you believe in the squeeze, but do you think it is about to make its run? I've seen some suggesting that it could be kinda stagnant this week and I was hoping so, so I can move some funds around to free up more money, most let funds settle in IRA. Also how high do you think it can go? I've seen some crazy projections,
Upperdecker
Posted on 1/19/21 at 6:10 am to KickPuncher
We have SSR today plus brokers heavily increased margin costs on GME over the weekend, and tons of momentum and hype from the weekend. Today is as good a chance as any tbh. $100 minimum top when the squeeze occurs, but likely over $200
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