How GameStop found itself at the center of a groundbreaking battle...

Not really political, so to speak, but quite a fascinating story that I felt needed to be shared.

If you're into investing, finance, or David vs Goliath stories, this one is a doozy:

Hope you all got in on this. AMC and Blackberry on next.

 

Very interesting story.

https://www.cnet.com/personal-finan...-stock-surge-why-amc-and-blackberry-are-next/

 

LOL. Robinhood gave me a free share of gamestop when I joined it. I guess my $1.00 profit from the $3 whatever price it was at when they gave it to me when I sold it was a bit premature.

 

Gamble as you wish. Those GameStop investors who organized themselves on reddit will sell as quickly as they bought when the stampede for the exit sets in. This is nothing else than a pump and dump scheme. Some people will get rich, most of them will lose money.

 

If you buy right now, there is little chance to lose.

There are twice as many shorts as actual shares, and when the shorts take their losses, the price continues to rise.

TD Ameritrade blocked trading of GME, which is bullshit, because if it were me losing money, they wouldn't give two shits.

The 1% rigging the game again.

 

I am not familiar with Ameritrade, I don't buy individual stocks. However, brokers usually block trading when prices move too fast. This is to prevent bots from implementing electronic pump and dump schemes. The 1% rigging the game is, in this case, a good conspiracy theory, though. I am not saying the 1% are not setting up the playing field in their favor (that would be your side usually claiming such things), but this is not one of those scenarios.

 

Actually a brilliant strategy that is putting the screws to the hedge fund guys. I was watching CNBC and they are now (only when it impacts the rich) a call to regulate social media!

All I can say is...

 

If you think the redditors are doing this to screw the hedge fund guys, you are mistaken. They'll dump the stock faster than anyone when the stampede for the exit begins. It is just a matter of time. Mark my words. When people gamble instead of invest, that's what you get -- a stock price that is utterly disconnected from performance.

 

They already have; the pictures of dudes turning six figures into millions overnight are what spurred this on.

But the hedge funds doubled down, because they are right, it will fall EVENTUALLY... but the situation they've got themselves into now is a lose/lose for them, and they're pretty ****ed.

Eat their losses now thus driving the price up more, or hang on and lose more money.

 

If they miss the exit, they'll lose their millions as quickly as they made them. As I said, a few lucky ones will get rich, the ones who timed the buying and the selling correctly (by pure luck). Most of the others will lose money. The only ones who always make money are the brokers, who get commission from every buy and sell.

Think about this, people, this is not about fundamentals of the company, or innovation, or productivity increase, this is pure gambling. Nothing else than the tulip mania in the 1600s. How many people came out of that one as winners?

 

r/wallstreetbets just went dark to public view. Pretty nuts.

But this isn't a David vs Goliath story.

 

Maybe it was David vs. Goliath at the start. Since then, the sharks have jumped in and they'll pump the stock before they dump it, letting the little Davids hang out to dry.

 

So I should or shouldnt buy 20k of Gamestop right now?

 

If you want to burn 20k, by all means buy.

 

I'm all in. 25k. No risk it no biscuit!

 

Consciously buying stocks that you know are artificially hyped up is beyond stupid. The surge is very temporary and the crash is inevitable.

 

The stock is still shorted by far more than there are shares.

It can't go down until it goes up first.

 

I'm not dropping a dime on this, but this is great to watch. Blockbuster is also on the rise too I think.

 

Too expensive for me to get in now, shame. For anyone that did get in or can afford $300+/share, this will keep going up until probably Tuesday. Then the shorts will finally catch up and this will crash hard.

 

At the end of the day Gamestop is still a **** company and thus a **** investment. Ok so a fat hedge fund lost a few billion, whatever, what happens when meme trading washes out tens and tens of billions all over the financial ranks? Are we to think the most powerful people in the country are going to stand by and let it happen? Fkin hell, they'll manufacture another recession just to get themselves a bailout and then laugh at the rest of us plebs for thinking we could play in the big leagues.

 

up 37% today - question is how much profit before you sell. Could go to $1,000, could crash quickly

 

That's why market timing doesn't work consistently. You have to be correct twice, once when you buy, and the second time when you sell.

Second, even if the poster you responded to makes a profit on this trade, he'll pat himself on the back for his skill, instead of attributing it to luck (which it really is). Then, he'll keep day trading and lose his shirt in future attempts at market timing, when his luck runs out.

 

I agree.
When you play around with stocks like that, you should watch the market every 15 minutes for the duration of the investment. The process requires so much attention that it becomes a full time job.

 

People are going to be afraid to sell as they might miss out on bigger profits. Last year I bought 100 shares of Nikola on a Friday. It doubled on Monday from 35 to 70 and I sold. Then it went to 90 and I was second guessing myself. When it fell below 20, I was quite happy.....

 

That's why I don't play these games, I rather invest in index funds through buy and hold, for example VTSAX. And, yes, GME is in the VTSAX holdings. So, if the GME jump would be real, I'd profit too. However, it is not real, so I don't worry about it.