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re: So I bought some Gamestop(GME)

Posted on 1/23/21 at 1:14 pm to
Posted by Powerman
Member since Jan 2004
165294 posts
Posted on 1/23/21 at 1:14 pm to
I'm reading the gamestop run up is due to reddit trolls and probably doesn't reflect a long term economic reality
Posted by MusclesofBrussels
Member since Dec 2015
4856 posts
Posted on 1/23/21 at 1:17 pm to
quote:

This is amazing.

Don't think I have the balls, but there's clearly money to be made if you're not too greedy


I don't have the risk tolerance to go all in like this, but there are multiple people on wallstreetbets who have become millionaires through going all in on GME calls before this run up started.
Posted by TigeRoots
Member since Oct 2008
8534 posts
Posted on 1/23/21 at 1:35 pm to
Yep, I was looking through their screenshots on Reddit last night. Absolutely insane. One of those dudes was in @ $.30.

I just wonder what type of precedence this sets going forward. Wall Street has to be in a frenzy over this and what it means going forward. 20 year olds on Reddit out dueling Hedge Funds.
Posted by TheChosenOne
Member since Dec 2005
18744 posts
Posted on 1/23/21 at 2:29 pm to
quote:

I just wonder what type of precedence this sets going forward.

It’s time for TD to unite behind a stock and do the same. I think cgrand is on to something with GOGO — that has to be one of the most meme worthy tickers out there.
Posted by cgrand
HAMMOND
Member since Oct 2009
43425 posts
Posted on 1/23/21 at 2:57 pm to
as of 1/23, stocks with highest short interest

Posted by Upperdecker
St. George, LA
Member since Nov 2014
31836 posts
Posted on 1/23/21 at 3:02 pm to
Virgin galactic is interesting. Short shares far exceed the float with a stock that has a solid future

Edit: I see your GOGO
This post was edited on 1/23/21 at 3:10 pm
Posted by rocket31
Member since Jan 2008
41861 posts
Posted on 1/23/21 at 3:08 pm to
the market is better than crypto right now

and the # of robinhood accounts just reached an ATH
Posted by TheChosenOne
Member since Dec 2005
18744 posts
Posted on 1/23/21 at 3:13 pm to
It is. Especially after it spiked heavily on the ARK ETF news and is continuing to climb. I think it’s up 35ish percent over the last couple weeks. Pressure could start mounting on those short positions.
This post was edited on 1/23/21 at 3:19 pm
Posted by xxTIMMYxx
Member since Aug 2019
17562 posts
Posted on 1/23/21 at 3:47 pm to
Is there any room left to clip this bastard for a day to get a quick pump and dump
Posted by TigeRoots
Member since Oct 2008
8534 posts
Posted on 1/23/21 at 4:00 pm to
quote:

as of 1/23, stocks with highest short interest


Nice. Wonder which one we riding next? This is insanity. Maybe start a thread here with the stocks with the highest short interest and start our conversation there? What do y'all think?
This post was edited on 1/23/21 at 4:01 pm
Posted by cgrand
HAMMOND
Member since Oct 2009
43425 posts
Posted on 1/23/21 at 4:31 pm to
March 5 4c in AMC is 1.05
Posted by Triple Bogey
19th Green
Member since May 2017
6194 posts
Posted on 1/23/21 at 5:25 pm to
quote:

I'm reading the gamestop run up is due to reddit trolls and probably doesn't reflect a long term economic reality


It could though. I think people are underestimating Ryan Cohen. He built Chewy from basically nothing and he knows how to build and grow a successful business. Especially with gaming taking off. Gamestops market cap still sits at 4.5 billion. Can you imagine the share price if it was valuated like a bestbuy with a market cap of 30 billion? This stock still has much further to go IMO. Hate that I trimmed 50 shares of my 500 on Friday. I doubted my vibe.
Posted by rocksteady
Member since Sep 2013
1787 posts
Posted on 1/23/21 at 6:05 pm to
Yeah, Virgin Galactic is intriguing. How long does it take to launch an ETF after announcing it? Do they just set their allocations and start plowing into buying on day one?
Posted by KickPuncher
Member since Jun 2020
754 posts
Posted on 1/23/21 at 6:14 pm to
There is still time to get in on the GME rocketship! Just don't set a sell limit if you are trying to ride this to the top. Also think this is just getting started. Lets go
Posted by TheChosenOne
Member since Dec 2005
18744 posts
Posted on 1/23/21 at 6:51 pm to
quote:

Quick question. Can GME not dilute their shares now and make all their debt go away?

They can and should do an offering ASAP to take advantage of the elevated share price...and I hope they do it so we can watch the likely insane price action.
Posted by KickPuncher
Member since Jun 2020
754 posts
Posted on 1/23/21 at 7:08 pm to
LINK

I think the price is about to pop pop. Look at the available shares on Fri especially compared to the other days. % of float shorted is still going to be insane.
Posted by JJJrich
Member since Oct 2010
535 posts
Posted on 1/23/21 at 8:08 pm to
I would not be buying GME anymore. If you are still in, I would recommend selling on Monday. Friday was the final squeeze.
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
38641 posts
Posted on 1/23/21 at 8:18 pm to
quote:

I would not be buying GME anymore. If you are still in, I would recommend selling on Monday. Friday was the final squeeze.



Isn’t it estimated that the short position is still over 100%.
Posted by thatguy777
br
Member since Feb 2007
2493 posts
Posted on 1/23/21 at 8:23 pm to
quote:

I would not be buying GME anymore. If you are still in, I would recommend selling on Monday. Friday was the final squeeze.


You been over to Wall Street bets lately? Those guys are still full speed ahead on this. I would not bet against them at this point

I’m just a spectator. Prob one of the most epic short squeezes I’ve ever witnessed and I’m actually happy for those autists over there. Been pretty cool to watch
Posted by MrBobDobalina
BRo.LA
Member since Oct 2011
3179 posts
Posted on 1/23/21 at 8:32 pm to
Get your puts in then big boy, don't forget to post the loss porn. You are fighting against an army of autists and we're just getting started.
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