GameStop Stock keeps going up no end in sight

haha good make the shorties pay I say.

Its probably time we get rid of the system that lets billionaires bet on business failures. In such a broken system perhaps this is the best way to spit in its eye.

Seriously perhaps this gives the next people employing business trying to make it work and loosing ground a little breathing room... before the old money employee no one funds swoop in to bet on their corpse. I hope this gives them pause. Hey at any time a mob of redit investors may drive the stock up. It has always been obvious to the vultures that betting against a gamestop days before they tap out is quick money... perhaps when the next game stop rolls around the vultures will just circle and never swoop in to get bite back. lol Who knows might give some other company the few months they need to figure it out. (probably not but perhaps)
 
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I guess there is a chat room that is pushing these Stocks up like Gamestop basically just manipulating the market which happens everyday anyway.
 
I guess there is a chat room that is pushing these Stocks up like Gamestop basically just manipulating the market which happens everyday anyway.
It ends up working cause once you push a stock expected to fail hard up (for long enough) past a specific point... the short sellers who place massive fail bets (cause like all gambling if the odds are not long to make money you gotta bet big) start feeling the pain as the stock goes up and their short bet payments go up. At some point they start tapping out which means having to buy more stock increasing the pressure on all the other vultures.

If these things end the shorting on the big obvious fails... good.
 
Anyone else notice Reddit is getting hammered right now as well??
 
You jump in it will plummet.
I did and I tripled my money. What people don't understand is that short sellers have bought 136% of GameStop stock, which means they're fucked if it goes above a value. It was $3 a share when this started and now it's $300, so imagine the loss. They have to pay that money back, and so far they've payed over $5 Billion. They technically owe money at this point. Because of the massive short selling, the stock has the potential to reach $1k per share, assuming people can hold and not sell. People are expecting the short sellers to go bankrupt by either Friday or Monday at this rate. Even Elon Musk tweeted about it and called it GameStonk.
 
I did and I tripled my money. What people don't understand is that short sellers have bought 136% of GameStop stock, which means they're fucked if it goes above a value. It was $3 a share when this started and now it's $300, so imagine the loss. They have to pay that money back, and so far they've payed over $5 Billion. They technically owe money at this point. Because of the massive short selling, the stock has the potential to reach $1k per share, assuming people can hold and not sell. People are expecting the short sellers to go bankrupt by either Friday or Monday at this rate. Even Elon Musk tweeted about it and called it GameStonk.
From what I read that was not the real Elon Musk.
 
I thought about jumping in the other day but the way my luck goes it just would have caused it to tank. Plus the whole cap gain tax thing on a short sell. There was definitely some money to be made for the brave/bold/foolish.

edit - and I bought some because I am stupid. HOLD!
 
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How much revenue can their business actually generate in the digital era?
I don't see this ending well.
GameStop has no real vaue, but that's not the point. At some point you pull out and collect your winnings. You gotta know when to pull out. This isn't like investing in Intel and when you retire you have a nice pile of cash. You get in early and pull and retire at the age of 17.
 
How much revenue can their business actually generate in the digital era?
I don't see this ending well.
They been losing over 100 million a quarter I believe. The future of the company is GOI g to be online only. They will close all their b&m stores within the next 3 years. Unless they start to offer something that amazon doesn't they still won't survive. With prime I have the game in my mail box by the time I get some home from work.
 
I wish I understood whatever it is that is happening. XD

From what I understand (and is probably wrong) Big money people saw a company that is dying and borrows a bunch of shares promising to give them back at a certain future date. They then turn around and sell those shares at current market value.

Before the shares are due back they’ll buy back the shares they borrow-sold at what they hope is a lower price. In this case, it blew up in their faces.
 
I almost bought a handful of shares at $60 the other day but pussed out.

According to Reddit, some bigwig that started or saved another company bought in big to Gamestop. Now they supposedly have plans to start selling PC hardware in their B&M stores. I've also seen mention of them restarting their online game sales platform and allowing game buyers to trade their games; I'm not sure how that one will pan out though as I imagine the publishers would throw an absolute fit.
 
According to Reddit, Gamestop has plans to start selling PC hardware in their B&M stores. I've also seen mention of them restarting their online game sales platform and allowing game buyers to trade their games; I'm not sure how that one will pan out though as I imagine the publishers would throw an absolute fit.

The Gamestop business model is dead. It was killed off by the console makers, etc. with the push to digital purchases. As soon as you have an all digital console, Gamestop will be bankrupt.
 
Of course gamestop is dead.. that has nothing to do with this... other then yes at some point it will die for real.

For years short sellers with massive bankrolls from "old money" have made tons of money waiting for companies like Gamestop to get to a perfect spot between hanging on for a few months and dying. When they can still make a bit of money betting on their fail. (short selling) The key is if you bet to early you don't make anything... if you wait to long the company goes under. There is a long history of billion dollar funds betting huge against this sure losses with the type of money where they still make a nice little profit off it. If you have a couple hundred thousand to short sell betting on game stop is a bad bet... you won't make enough to justify the risk. But if you have a 100 million to short sell.... you can make a nice profit.

What is different about this one... is it is SO obvious, and it being game stop doesn't hurt. That a arm of small investors started buying up stock.... which keeps it from dying.... which keeps the short sellers in the game... which exponentially increases what it costs them to stay in. To get out they have to buy stock. Which drives the price up.... which forces even more short sellers to also tap out... which leads to them buying stock... which leads to even more tapping out. Before you know it you have a penny stock trading for $200 a share... and a ton of short sellers stuck with millions of gamestop shares that everyone knows are going to bust.

I hope all the small time investors pull out early enough... but some are going to get burned. However the big short selling funds deserve to loose every dime there getting taken for. lol In the grand scheme crack downs on things like Rededit are more likely then the system getting fixed... but ya the short selling vulture funds that come out to pick the bones of major retailers have already earned a special place in hell.
 
This is changing the dynamics of the market forever. The little people came together and ate a big rich hedge fund. RIP Melvin Capital. 12 billion transferred from them, to all across WallStreetBets in like a week?

Lots of stocks with heavy short interest are up heavily today. I can only assume risky short floats are being abandoned for fear of being the next GME. WSB has changed the game forever.
 
I work for a bank so I am not allowed to day trade, must hold for 30 days. However if I could I would totally buy some right now. It will likely be a deja vu of that VW squeeze. The other stocks that reddit is hyping doesn't make as much sense, the short interest is just not there. Either buy a bit of GME for the lols or sit this one out.
 
This is changing the dynamics of the market forever. The little people came together and ate a big rich hedge fund. RIP Melvin Capital. 12 billion transferred from them, to all across WallStreetBets in like a week?

Lots of stocks with heavy short interest are up heavily today. I can only assume risky short floats are being abandoned for fear of being the next GME. WSB has changed the game forever.

Changed until the regulators step in to protect their own.
 
Ahhhh of course I almost bought calls yesterday when this was in the mid 70s hahahaha
 
Good summary of what's going on:

https://www.bloomberg.com/news/arti...streetbets-pushed-gamestop-shares-to-the-moon

More layman terms:

https://www.reddit.com/r/business/c.../?utm_source=share&utm_medium=web2x&context=3

  • Let's say 5 banana's currently cost 10 dollar
  • One ape on the market has 5 banana's
  • Snake asks to borrow 5 banana's for a bit and instead sells the 5 banana's thinking price will go down soon (shorting). he thinks he can buy them later for less and give them back to ape, so he make's profit on the difference.
  • Group of apes notice what stupid snakes are doing and decide to buy all banana's on the market until snakes have no other choice than to buy from the group of apes in order to return what they borrowed
  • If group of apes stay strong then banana price will go up.
 
The investment firm Melvin Capital lost $1.6 billion after trading closed on Monday. Two asset management firms swooped in to try and bail them out with $2.75 billion in loans. But it was too late as the stock closed at almost $150 a share on Tuesday and opened at over $300 today. For persepective, GME was hovering right around $20 just two weeks ago. This is the best story I've read all year. Was laughing my ass off when I first read about it on Monday.

It's sitting at $312 right now. I wonder at what point NASDAQ flips the breaker on trading.

1611767105183.png


Jumped up to $340 for this shot.

1611767165654.png
 
My question on all of this is, who is going to be paying out these millions of dollars to Redditors selling stock in the end? Are these federally insured? If the hedge fund has to buy back the stocks at $500+ or whatever, and they just declare bankruptcy, do people just not get their money back?
 
My question on all of this is, who is going to be paying out these millions of dollars to Redditors selling stock in the end? Are these federally insured? If the hedge fund has to buy back the stocks at $500+ or whatever, and they just declare bankruptcy, do people just not get their money back?
Has to get covered - they have to sell their other holdings to cover it, I ~don't think~ you can have short bets larger than your net worth as a fund - but I could be wrong, and the rules have changed a few times.
 
My question on all of this is, who is going to be paying out these millions of dollars to Redditors selling stock in the end? Are these federally insured? If the hedge fund has to buy back the stocks at $500+ or whatever, and they just declare bankruptcy, do people just not get their money back?
The big hedge funds are already getting cash bailouts from their friends. So ya no need for insurance... their friends do not want them to fail... and the Gov and wall street both don't want this to become a bigger story by bailing out billionaire bingo. Or worse having people actually looking closer at how all this really works. (it isn't as complicated as it looks, in the same way the shell game isn't magic) No one wants the average people to see how the short selling hedge funds are actually funded. If your curious just pay attention to who is bailing them out. Bankruptcy accounting is a NO GO. lol Its all a graft designed to move billions around when it needs moved.
 
I thought about jumping in the other day but the way my luck goes it just would have caused it to tank. Plus the whole cap gain tax thing on a short sell. There was definitely some money to be made for the brave/bold/foolish.
It it definitely a risk as you know there will be an eventual fall, it is just a matter of when it is going to fall. In the mean time, enjoy the LOL as shorts are getting killed in GME and other heavily shorted stocks.
 
I did and I tripled my money. What people don't understand is that short sellers have bought 136% of GameStop stock, which means they're fucked if it goes above a value. It was $3 a share when this started and now it's $300, so imagine the loss. They have to pay that money back, and so far they've payed over $5 Billion. They technically owe money at this point. Because of the massive short selling, the stock has the potential to reach $1k per share, assuming people can hold and not sell. People are expecting the short sellers to go bankrupt by either Friday or Monday at this rate. Even Elon Musk tweeted about it and called it GameStonk.
Seriously, the fact they can go above 100% of Gamestop stock should be illegal and in need of regulation. But since there is no regulation, I am laughing my ass off short seller getting killed.
 
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