Hilarious. Maybe Reddit has taken itself offline so it can't be accused of market manipulation.
One huuundred and eighty!
$177 took a while,
$188, 1 minute
£199 30 seconds 😂
$200 pull back?
Does it get held after hours if it is too volatile?
how do you actually buy stuff after horus? How does it work?
Not that I'm about to try!
I have fomo and I don’t even know how to play the game.
how do you actually buy stuff after horus?
He is the god of the sky, maybe it is going to the moon after all🤣
.
Serious answer though, you need to be one of the in-crowd/big players, the after hours, and indeed pre-market, are stacked against the little guys, we can't join in. Fine when it's rising but you've no chance to bail out if it all goes wrong
Imagine if you were one of the people- who I still reckon are idiots, but, you never know, I could be proved wrong- who bought high and were holding for the last weeks and sharing loss porn and talking about how big everyone's balls are and now... are you going to the moon? Do you have a short chance to ditch your disastrous purchase and reduce your losses or should you hoooooooooold?
I'd die of anxiety 🙂
hold or you ditch at open, an go back in at the dip
Fml totally missed this...
I’m nearly back in a profit!
I was planning to get some more after payday in a vain attempt to bring my average down to try and salvage something.. bugger! 🤣
Just read this utter nonsense in the guardian. Ice-cream and frogs, makes perfect sense 🤔
Some Twitter users pointed to an activist investor’s tweet of an ice cream cone picture. Others cited factors including a reshuffling of top executives and options trading.
Shortly before 2pm, the activist investor Ryan Cohen, a major shareholder of GameStop and founder of Chewy.com, tweeted a picture of a McDonald’s ice cream cone with a frog emoji. Some GameStop bulls wondered online whether it was a veiled message that Cohen would fix GameStop’s business, like the fast-food chain fixed its ice cream machines.
“I don’t know what an ice-cream means,” said Michael Pachter, an analyst covering GameStop at Wedbush Securities. “People are looking for signals.”
Haha to the ****ing moon baby
Loving this. I bought some at $46 and it very quickly proceeded to drop $40. I couldn't believe it when I looked this morning 😀
Some GameStop bulls wondered online whether it was a veiled message that Cohen would fix GameStop’s business, like the fast-food chain fixed its ice cream machines.
That would be impressive, it's a business running a secondary market for a legacy product which is rapidly vanishing. Hard to see how you significantly grow it without changing business completely....
That would be impressive, it’s a business running a secondary market for a legacy product which is rapidly vanishing. Hard to see how you significantly grow it without changing business completely….
That is exactly what he is doing and has done with previous business.
That is exactly what he is doing and has done with previous business.
He might suceed, he might not - doesn't in any way justify the current share price, which is just barking mad....
Look at what he has to start with, a set of mediocre bricks and mortar stores in a world going online. He's bought a legacy business with legacy infrastructure - good luck turning that around.
The price isn't really reflecting current fundamentals though. Just like it wasn't when it hit $400.
There are two entirely separate things going on here, the future of the business and whether he can make it a success. Assume he does and the 'real' share price doubles or even trebled over the next few years, it would be worth what, $10,$15, and he would get huge kudos for it.
The current shenanigans are nothing to do with that, Gamestop has just been caught up in the middle of sometimes else
The price isn’t really reflecting current fundamentals though. Just like it wasn’t when it hit $400.
Agreed.
At least the $400 had some sort of purpose, squeezing the shorters / bringing down capitalism / creating the new world order etc.
Now they've achived that objective and brought all the world's banks to their knees, the current price rise doesn't make any sense at all (to me)...
It's basically a crap company that may or may not be slightly less crap in the future.....
, the current price rise doesn’t make any sense at all (to me)…
I'm guessing that when the price shot up.last time a lot of people shorted it then, which seems sensible. Unless someone else knows when they are due (exactly a month? Seems a reasonable period...) and is trying to do it again
Now they’ve achived that objective and brought all the world’s banks to their knees, the current price rise doesn’t make any sense at all (to me)…
I don't remember that happening. In fact, I remember the CEO of RobinHood having to testify to congress about why his business manipulated the stock price and ensuring that the above didn't happen. There's certainly optimism at least among WSB that the actions of RH et al prevented the market from playing out how it "should" have - I.e. with several hedge funds caught bag-holding and going bust.
Perhaps a proper short squeeze could come? We don't know the positions of the various funds etc but it's clear that an awful lot of shares were shorted, and the short interest barely reduced over the last month suggesting that the same mechanic may still be in play. A short squeeze requires a trigger for some momentum which perhaps came from DFV, or the bizarre frog ice cream thing. Who knows. I suspect it's just another weird meme stock effect of people FOMOing in but there's at least a chance of the supposed market infinite squeeze loophole playing out so I'm glad I've got my 2.3 shares. 2.3* infinity is still infinity, right? (Insert WSB emoji here).
Or to put it another way, the squeeze has not yet been squozed. https://isthesqueezesquoze.com
Randomly moved some stocks on etorro last night and as I don't like just leaving the ££ In my account I dumped it in gme by 8pm it was going bonkers and still is on the pre market. I was going to use the ££ to get some airline buys as a long term Christmas saving scheme.
Diamond hands
@davros
Elon and few others are playing silly games on twitter ect Elon changes his profile photo to a fork an actual table fork on yellow road lines as he is rumoured to good friends with one of the ADA coin boffins. Ada is due a major upgrade in march.
They are just bored rich people poking fun at everyone. It's probably a big middle finger to the US lawyers at the SEC they can hardly take anyone to court for manipulation over a meme.
Like it or not tokens/coins what ever you call it is here and won't be going off a cliff but a lot of people will bet on the wrong side. betamax/vhs
I look forward to a frog emoji boosting some of my boring shares so I can cash in on the collective stupidity. Has anyone set up a 'square mile bets' forum to bring this new form of flash-mob investing to the boring FTSE?
FTSE 😀
There is r/CanaryWharfBets
Seems to be mainly people shilling though
Isn't the FTSE all ran by lizard people I did see that on Reddit somewhere.
The only thing that has surprised me is it's taken the old guard so long to catch onto the power of a what is basically a bloke in his bedroom talking rubbish and posting silly memes..
What a time to be alive
davros
Full MemberShortly before 2pm, the activist investor Ryan Cohen, a major shareholder of GameStop and founder of Chewy.com, tweeted a picture of a McDonald’s ice cream cone with a frog emoji. Some GameStop bulls wondered online whether it was a veiled message that Cohen would fix GameStop’s business, like the fast-food chain fixed its ice cream machines.
The problem is that a lot of the nonsense on WSB is intentionally nonsense. Sometimes it's more obvious than others. Sometimes you can't really tell the real stuff from the jokes and memes even if you're used to it. Sometimes a handful of people will take a mad theory very seriously and others will contribute or updoot it because it's funny. And sometimes journalists don't care whether it was meant seriously or not if they can use it to write a story.
Damn my paper hands selling up at $150...
In fact, I remember the CEO of RobinHood having to testify to congress about why his business manipulated the stock price and ensuring that the above didn’t happen.
They didn't maninulate the stock price, they don't have any control over the stock price, that is managed by the exchange.
They are just a broker faciliating trades, which they had to pause when their margin requirement went through the roof. They rapidly raised $3.5bn in cash IIRC and then restarted trading the next day.
Throughout this period anyone could buy and sell shares via any other broker.
Throughout this period anyone could buy and sell shares via any other broker.
nope, loads pulled the plug and only had a sell option, IG who I was trading with at the time wouldn't let you buy
They rapidly raised $3.5bn in cash IIRC and then restarted trading the next day.
they didn't, and when they did there was a limit on how many shares you could buy, ,at the lowest, you could buy 1 GME share
Some interesting movements yesterday - I bought some more @ 240 with a sell order at 300. Only then, like an idiot, I got sucked in by the latest gamma squeeze predictions and others reckoning the US stimulus cheque will probably boost some stocks that have been in the headlines (and BTC) so bought back in @ 340 - oops :p
do you hate money? 🤣so bought back in @ 340
I got cold feet and stupidly sold most of mine @ 155 the other day for a solid 50% gain, hoping to buy back in at the usual morning dip that never came. So I bought the dip yesterday (albeit the dip still way higher than I sold at - averaged up to ~ £150/share I think).
My feeling is that there's a chance of a loss that I can afford, a decent chance of a solid return, and a small chance of a very big return if the short squeeze predictions are correct. It's far better odds than the lottery or the horses...
Interesting twist in the tale....
Love these lines from the above artcile:
In a typical weekend, the Dian Fossey Gorilla Fund gets 20 new gorilla adoptions. But since Saturday it has received more than 3,500 adoptions worth $350,000 (£252,000). Many were made out to fictional names including “**** Melvin capital” and “Jim Cramer’s Tears” that took potshots at hedge fund managers.
GME at $249 so still not dropping super low, when do the hedge brokers go bust?
Did this thread get bumped by a bot or something? Weird stuff is going down in the world of finance.
My GME shares are looking pretty good just now.
My GME shares are looking pretty good just now.
I cant believe they havent corrected to their intrinsic value yet.
Just be aware theres a difference between a paper profit and a cash one....
GME isn't going to 'correct' to its intrinsic value just yet. There's a shareholder meeting next week. The results of a vote will be critical to tell whether the 'short squeeze' theory is correct. At that point it'll either go up or down massively I think. Hopefully it'll have gone up enough for me to recover my initial stake before then...
I'm still in, the number is in the green so not bad for a gamble and it will make a good movie if Seth Rogan made it.
Investment banking and hedge funds are like booze if it was invented today it would be ruled to be very bad for your health and probably banned.
But It would appear that greed is still good
Did this thread get bumped by a bot or something? Weird stuff is going down in the world of finance.
There was an FT article about it the other day. Tracking posts on Reddit or wherever, sentiment has shifted from cypto back to meme-stocks, so Gamestop etc is having a second resurgence.
Source: https://www.ft.com/content/11e59520-a504-4098-9fc1-e2fe66887e14 " Thrill-seeking traders send ‘meme stocks’ soaring as crypto tumbles. Amateur investors are chasing momentum instead of particular sectors"
It's the game stop AGM as well
