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Reading what? Also, IIRC he's a board member of Gamestop so it would be unusual if he didn't have a ton of stocks
GME should keep rising from tomorrow on ad infinitum until all the shorts are taken care of, which won't happen soon, as long as people hold onto their shares.
They have to buy tomorrow and next few days. They are fighting against the inevitable. They are trying to drop the price today so that people panic sell and they cut their losses by billions. People holding onto the shares from tomorrow will drive up the price because they HAVE TO BUY, whatever price it's at.
It dropped only around 20 points after they tried to crush it. I don't think it is over
I think this also opens the questioning from the companies themselves. Restricting retail trading in this way while allowing all the institutional trading to continue to manipulate stock prices hurts the market value and therefore the ability to raise capital for GME, AMC and others. Especially when they need it.
I know the regulatory committees will point to the financials and say these companies are far from sound, but allowing these hedge funds to say which companies should continue to exist and which should fold is as corrupt as anything. There should be a senate committee to look at this no doubt, and the boards of these companies should be given a platform to speak.
It's as bad as the shit Bain Capital and others got away with in transferring debt to kill companies for their own personal benefit.
I know the regulatory committees will point to the financials and say these companies are far from sound, but allowing these hedge funds to say which companies should continue to exist and which should fold is as corrupt as anything. There should be a senate committee to look at this no doubt, and the boards of these companies should be given a platform to speak.
It's as bad as the shit Bain Capital and others got away with in transferring debt to kill companies for their own personal benefit.
Been holding onto a LOT of it since 2014, so this has me more interested than GME.
Unless he thinks this is going to be going on forever I don't see what the problem is
Yeah I told him that, just makes me laugh over how volatile the market is.
Lol of course
hmm. I can add it to my list but not invest?
for some sure, but there are a lot of wsb people are just using money they would spend on vacations and are having fun.
This seems reasonable. A bit surface level only of the whole situation though.
I hate this shit because yes, people can go into a casino and put their life savings on roulette and end up devastated. There's still plenty of people who roll up the casino with the amount of cash they don't mind losing and seeing if luck is on their side or not. In any and every form of risk that relates to money, there are uninformed people, informed people, risk averse people, risk taking people, and people just doing things for speculation or fun. So the whole "there will be tears" talk is useless because we all know this. Everyone is either in or out for various reasons, but we all have our agency and due diligence is on us.
Was able to hop on TDameritrade and buy GME. Instant deposit too.
Possibly for people coordinating on Reddit although I have my doubts. Randos who didn't post should be perfectly fine.
I mean a bunch of apps blocking stock trades to protect their parent companies positions. my guess is the trading companies are the ones that are gunna need to expkain themselves given how public this was.
LOL no. No one's going to care about you making a tiny bit of money
That guy's an asshole but he isn't wrong. A lot of people pumping money in are putting in way too much and have no clue what they are doing. This thing is going to plummet back down to $5 eventually.
So the stock got low enough for the hedge funds to get out of their hole?
Well of course it won't end well for us because we don't get to have the government bail us out when we make careless decisions with our money. And we have to play with liquid cash, not leverage money like the hedge funds get.
It's a lot easier to bet $1000 if you only have to put up $100, even easier if Uncle Sam will give us back $90 if we lose that $100.
unlikely, its still over 200. this feelis like public pressure and legal threats forced their hand.
I think he's right (in my not at all expert opinion). No one thinks GME is worth anywhere near this much. It'll come down eventually, and some people will be left holding shares that are worth way less than what they bought them for if they can't sell their shares in time. That's why multiple people here are emphasizing not to spend any money in this that you can't afford to lose almost entirely. Don't pull out important savings to buy this. It's not worth the risk.
The people who are currently in are just looking for a point to sell and make a nice profit. But because of the way stocks work and because of how this stock is super overvalued, there will be some people left holding the ball when it's all over, and they will be screwed. So make sure that person is not you.
And if it is, make sure you're not screwed out of money that you can't afford to lose by not buying with money that you can't afford to lose.
Guess who didn't pump money into it? 👋
I'm risk averse and I just invest my money into a boring, slow-growth 401k. Should there be a guy in a suit waiting around the corner to hold my hand and tell me what to do with my money? If people want to invest in GameStop then it's up to them how much research they want before dumping cash in. More power to the people, IMO.
I am stupid, but I think GME is going to 1000+ now
The stock is still near the opening price today after hour and hour of trying to crush it
Yeah but it's no where near where the hedge funds wanted it to be. Even before the raise.
No, ifcrowdsourced or a single person with a billion dollars - it's the same. there's no false information being shared or single entity manipulating it.
usually the stock would not be shorted 140%, so a group of retail investors would not be able to make a dent. it's a unique case.