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GameStop (GME) Stock Surges Amidst New Board, Short Squeeze [Read Threadmarks]

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test_account

test_account

Member
Oct 25, 2017
4,645
ryseing said:
Shorting is a legitimate way to trade but GME is still WAY overshorted at the moment, hence why the short squeeze is happening. I would stay away from shorting it at all costs.
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Arkai said:
As the poster above said, do not short this or you can find yourself in extreme financial trouble. GME is going to keep going up just now.
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Delusibeta said:
Yeah, absolutely stay away from shorting Gamestop right now, I suspect the short squeeze has only just begun, and I do think a share price north of $500 by Friday is possible.
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Understood, i will wait and see. Thanks, everyone!

One more question, by the way. How long can one hold a short stock? I see that one stock provider takes 0.09% in daily fees for holding a shorted stock. Is that percentage on the amount that you bought for (e.g $100), or the amount that you've lost if the stock goes up (e.g stock going up from $100 to $500, and then paying 0.09% on the $400 that one lost)?


Krakatoa said:
Well I bought in at $4 :)
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How many stocks did you buy, if i may ask? :)
 
Macross

Macross

Member
Nov 5, 2017
694
USA
52 week low is $2.57
If you bought $1,000 worth at the low, you'd have made about $38,000 if you sell when the market opens today.
 
HiLife

HiLife

Avenger
Oct 25, 2017
39,698
Managed to get a share at 60 last week and I'll see where it goes from there. I ain't going crazy like some people are with this. It's actually been fun reading about stock market stuff over the weekend, and I still haven't even scratched the surface. Wallstreetbets is full on cringeworthy though. Rarely use that word but the way they speak to each other is weird. But eh, guess they're good at hyping up stocks.
 
Macross

Macross

Member
Nov 5, 2017
694
USA
If you had shorted $1,000 worth when it was thought to be dropping at about $40, you would currently owe near $3,000 + interest and be praying it drops before you are forced to return the shares.
 
Le Dude

Le Dude

Member
May 16, 2018
4,709
USA
I thought about buying in before consoles launched but I wasn't ready to start in the market yet. Really kicking myself now.
 
gnexus

gnexus

Member
Mar 30, 2018
2,286
Other WSB stocks, BB and PLTR, are on the up, too. Reddit making everyone money apparently.
 
J-Skee

J-Skee

The Wise Ones
Member
Oct 25, 2017
11,114
test_account said:
Nice :) I wish i had gotten into the stock marked earlier. I basically just started (nothing serious, just trying it out more for fun), but if i had started earlier, i might have bought some GameStop shares back then, indeed :)
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My understanding is that it's never too late to get into it. For instance, you can still get into GME now & if it does happen to hit $1K, then you came up no matter what.
 
Hootie

Hootie

Member
Dec 25, 2017
1,338
that /u/deepfuckingvalue dude on WSB is going to be a billionaire by the time this is over
 
Keyser S

Keyser S

The Fallen
Oct 26, 2017
8,480
Blackberry will probably be the next stock to do dumb things, but it also actually looks like decent stock for the next few years too

BB TO MOON 🚀🚀🚀

Sorry I cant help it
 
test_account

test_account

Member
Oct 25, 2017
4,645
J-Skee said:
My understanding is that it's never too late to get into it. For instance, you can still get into GME now & if it does happen to hit $1K, then you came up no matter what.
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Yeah, thats true. Its just that the risk is much higher now that the stock might be $100+ compared to only a few dollars. But you're right, the stock might still increase a lot, so theres still a chance to turn a profit, indeed :) I'll see if i can grab a stock or two when the market opens, and hope for the best =)
 
J-Skee

J-Skee

The Wise Ones
Member
Oct 25, 2017
11,114
test_account said:
Yeah, thats true. Its just that the risk is much higher now that the stock might be $100+ compared to only a few dollars. But you're right, the stock might still increase a lot, so theres still a chance to turn a profit, indeed :) I'll see if i can grab a stock or two when the market opens, and hope for the best =)
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I should've bought at least a share when it was $40. My dumbass bought a quarter of a share because I thought this was all a joke & now it's looking like it's about to get crazy.
 
perfectchaos007

perfectchaos007

It's Happening
Member
Oct 25, 2017
12,250
Texas
Based on history dealing with GameStop If I buy $70 stock from them and try to sell it back they're going to offer me $18 tops even with case
 
Keyser S

Keyser S

The Fallen
Oct 26, 2017
8,480
I went ahead and bought some BB.

I am inexperienced but want to be part of it, and I am okay with losing the investment if it happens

But I will be happy to say I was part of this absolute nonsense

And I think BB will naturally rise in a few years anyway if this fall apart right now
 
HiLife

HiLife

Avenger
Oct 25, 2017
39,698
Seeing the line rise in real time. I now understand why people get addicted to this. It's dangerous. Like any other gamble. Lol.
 
OgTheEnigma

OgTheEnigma

Member
Oct 27, 2017
2,803
Liverpool
I still expect GME to have a massive crash in the very near future, but amidst the crazyness, I decided to have some fun with it now. I spent a very small amount of money (£3) 25 minutes ago when the price dipped, and it's already up over 30%.

EDIT: Update - up 40% now.

EDIT 2: 60%. lol
 
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timshundo

timshundo

CANCEL YOUR AMAZON PRIME
Member
Oct 27, 2017
3,171
CA
So... about it supposed to be at $20 right now...... who was that Citron guy? And how is anyone gonna take him seriously again? What skin in the game was he trying to protect??

Edit: $130
Edit 2, 20 seconds later: $140
 
molnizzle

molnizzle

Banned
Oct 25, 2017
17,695
timshundo said:
So... about it supposed to be at $20 right now...... who was that Citron guy? And how is anyone gonna take him seriously again? What skin in the game was he trying to protect??
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He may not have been wrong. This short squeeze was memed into existence by Reddit. Same thing happened with TSLA. The rules of the game have changed, the Street is only just now starting to accept that reality.
 
test_account

test_account

Member
Oct 25, 2017
4,645
~113% up in about 1 hour O_o I'm curious if they will stop the trading soon.


J-Skee said:
I should've bought at least a share when it was $40. My dumbass bought a quarter of a share because I thought this was all a joke & now it's looking like it's about to get crazy.
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Well, it wasnt easy to know for sure how high the stock would go :) It could technically have gone down a lot by now as well. But even with a quarter of a share at $40, it could still lead to some noticeable profit i think.
 
Hootie

Hootie

Member
Dec 25, 2017
1,338
screw it, I threw down on 1 GME stock just to join in on the fun. Completely fine with losing it all, so lets see what happens.

I bought it about 30 min ago and I'm already up 12% lol
 
MrBob

MrBob

Member
Oct 25, 2017
6,670
These candles the last couple days.



😂😂😂😂😂

I honestly can't stop laughing at this chart. This might be one of the greatest blow off top charts in the making I've ever seen, wherever the top lands.
 
J-Skee

J-Skee

The Wise Ones
Member
Oct 25, 2017
11,114
test_account said:
Well, it wasnt easy to know for sure how high the stock would go :) It could technically have gone down a lot by now as well. But even with a quarter of a share at $40, it could still lead to some noticeable profit i think.
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I just said screw it & bought a share lol. Whatever happens happens!
 
Kei-

Kei-

Member
Mar 1, 2018
1,041
Closing at $150 today, diamond hands through the week, we $420.69 sell orders gonna be a reality
 
test_account

test_account

Member
Oct 25, 2017
4,645
They closed trading now. I saw it went down to $19.95 or so, and i thought the bubble had bursted for a second, hehe, but it was just a bug in the system since the market closed earlier.
 
MrBob

MrBob

Member
Oct 25, 2017
6,670
115 calls were going for 40 dollars earlier, now in the money at least temporarily 🧐

Edit:. Halted again? This is more exciting than yesterday's nfl playoff games
 
Musubi

Musubi

Unshakable Resolve - Prophet of Truth
Member
Oct 25, 2017
23,628
This might be the most wild story to come out of 2021 so far. What the hell? I would NOT have predicted Gamestops shares surging just a few months ago we were getting the burial plot ready and now this happens.
 
timshundo

timshundo

CANCEL YOUR AMAZON PRIME
Member
Oct 27, 2017
3,171
CA
I had to record my screen watching that go down, just giggling like an idiot in the background. What the hell is any of this. How is poverty a thing when the $$$$$$ just flies around like this for no reason. It's so gross I cat stop laughing. Real life cheat codes.
 
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