I think AMC has a crappy future, and its price over the last few years reflects that. I think anyone with AMC would see this is a great time to bail out.
Gamestop
- Thread starter Bonerfarts
- Start date
I think AMC has a crappy future, and its price over the last few years reflects that. I think anyone with AMC would see this is a great time to bail out.
She was getting gang banged from all ends and she was more than ok with it, bc....monies.
This will be over with GameStop, take your AMC earnings NOW.
Also note that WSB didn't set off the inital price increase, they only accelerated it. As someone who has watched this whole thing from the beginning, the price was stagnant FOREVER. The initial post about the possible short squeeze was in Sept 2019. I bought in at time, but the stock was stagnant and sold. When the new consoles came out there was a bump, when the debt was unloaded there was a bump, when Ryan Cohen bought 15% of the shares there was a huge bump. WSBs were already in position holding the small float of shares. That's when things took off.
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The fact that these HFs had such a leveraged short position, makes me wonder if there was some type of collusion between HFs. If you are a competitor of Melvin Capital, why not cause them to short squeeze. Melvin seems smarter than that to me. It seems like Melvin knew there wasn't going to be a competitor squeezing them, but didn't count on the retail investor. Why squeeze a competitor when you can have an agreement that no one will squeeze each other? Hedge Funds all win and everyone else loses.
People said the same thing about AMZN all the way until it was valued at 2 trillion or whatever. AMZN was either losing money or had a PE like TSLA most of it's existence. Also used to be widely shorted. Neither of these are anything like GME.
I have 700 remaining as well. I sold 300 at $16 and change a couple of days ago.
if they make a movie about this they should call it The Doge of Wallstreet.
Those might be put options, and I think its $200 Billion in options. The shorted stock is different, it has no time limit, but the broker charges shorters margin interest if they haven't bought back to cover their position. I heard HFs are losing half a billion a day on margin interest by not buying back their losses. That's what I'm waiting for. When shorters have had enough of the squeeze if margin from the broker, they will need to sell to buy and the price will skyrocket.
There was a typo in my post, but that aside, there doesn't have to be active collusion. It's not much different than airline ticket prices. Hedge funds and airlines know the market. Shorts compete against each other. They set the short price. It's really no different than Vegas lines on sports.
The short interest days to cover ratio is accelerating to zero. It's getting tight.
GAMESTOP (NYSE:GME) SHORT INTEREST HISTORY
GAMESTOP (NYSE:GME) SHORT INTEREST HISTORY
| Date | Shares Sold Short | Dollar Volume Sold Short | Percentage Change | Percentage Float | Days to Cover | Price on Record Date |
|---|---|---|---|---|---|---|
| 1/15/2021 | 61,780,000 | $11.96 billion | -13.2% | 0.0% | 2.5 | $193.60 |
| 12/31/2020 | 68,130,000 | $1.36 billion | 0.2% | 0.0% | 5.7 | $19.94 |
| 12/15/2020 | 68,130,000 | $1.18 billion | 0.2% | 0.0% | 5.7 | $17.37 |
| 11/30/2020 | 67,980,000 | $1.06 billion | 0.8% | 0.0% | 5.6 | $15.63 |
| 11/15/2020 | 67,450,000 | $1.12 billion | 1.0% | 0.0% | 5.7 | $16.56 |
| 10/30/2020 | 66,810,000 | $735.58 million | -5.0% | 0.0% | 5.8 | $11.01 |
| 10/15/2020 | 70,340,000 | $892.61 million | 2.5% | 0.0% | 6.4 | $12.69 |
| 9/30/2020 | 68,630,000 | $815.32 million | 3.3% | 0.0% | 7.6 | $11.88 |
| 9/15/2020 | 66,410,000 | $665.43 million | 14.8% | 136.0% | 10.3 | $10.02 |
| 8/31/2020 | 57,860,000 | $351.21 million | 3.9% | 0.0% | 11.4 | $6.07 |
How about if you’re the CEO of GameStop? You’re worth a billion dollars now due to the position you have, 3.4% of outstanding shares. You could unload all of that here and go enjoy a life on the beach. Or you could wait to watch your stock go back to $3. What would you be doing?
I was thinking about that when this first blew up. Gamestop CEO gets rich from a meme stock/redditors rather than some MBA/shrewd business operations and tactics.
Just crazy.
Good point but I think I heard the CEO can't sell his stock right now. GME should authorize new shares.
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At some point there will be profit taking. There always is. Once the selling starts, the bubble will burst when the longs start selling.
Yes.
What I want to know right now is this: When the peasants were only allowed to sell who were the buyers on the other side? That will tell us the story of what went down with the halt in being able to buy on so many brokerage firms.
Before selling, I would think long and hard about any of my communications (calls, emails, meetings) with investors, analysts, etc. over the past couple months. I assume this will all end up in litigation, investigations and congressional hearings, and I think you’d want to make sure you’re clean.
Exactly. Most people have zero idea what they are talking about. And you're right about Carson Blocks. We need to keep as many Carsons away from the market as possible. These "blocks" will ensure companies like Citron and Cirac keep the vodka flowing. Too many posers out there trying to sound smart.
From what I've read, the halt on buys was mainly due to margins, not straight cash buys.
Bought $20 worth about 3 weeks ago for the heck of it. You are correct the online traffic about this is astounding and rather humorous.
This is funny, limit sells apparently.
lol $420.69This is funny, limit sells apparently.
Officers have to go through a process to sell shares and can't just dump them all at once.
People also need to understand that 42% and 70% is a lot. Normally that would be a bad thing for a stock. But over the last couple of weeks, it has created a lot of volatility and uncertainty. Couple this with the bad news about the vaccine rollout and hedge funds losing billions, it has investors shaken up.
Maybe this will successfully tank the market. It could be a catalyst and social media is a powerful force. Hopefully they throw this guy and others in jail for illegal pump and dump.
The SEC is probably going to put a stop to this.
No one has a problem with retail investors making money and there’s a little wiggle room for what’s acceptable market manipulation; which the area hedge funds play in.
But WSB has went a little too far with this. Don’t get me wrong. It’s been fun to watch but they should have been a little more discreet with squeezing. When they say stuff like, “to the moon!,” and calling for everyone to dog pile, it’s a little irresponsible. Now you’re all under a microscope.
They all need to realize that it isn’t just the rich who have money with hedge fund managers. There are plenty of middle class families that have their money with them too.
No one has a problem with retail investors making money and there’s a little wiggle room for what’s acceptable market manipulation; which the area hedge funds play in.
But WSB has went a little too far with this. Don’t get me wrong. It’s been fun to watch but they should have been a little more discreet with squeezing. When they say stuff like, “to the moon!,” and calling for everyone to dog pile, it’s a little irresponsible. Now you’re all under a microscope.
They all need to realize that it isn’t just the rich who have money with hedge fund managers. There are plenty of middle class families that have their money with them too.
I have a bad feeling of what will happen once this is all done. I am thinking of selling of my positions and jumping in when it crashes hard
It reminds me a lot of 1999-2000 when the Nasdaq crashed 80% from roughly 5,000 to 1,000. However, the big difference is the Fed wasn't printing money then like it is today. If we had normal velocity of money GDP could go up as much as 70% on a nominal basis (and by normal I mean 2019 velocity).
You guys are misinterpreting what “Days to cover” means. It’s the amount sold short scaled by dollar volume traded. It’s going down because liquidity in the stock is skyrocketing. A low days to cover means it’s easier for a short to cover their shares quickly.
Also, we should be putting to bed any feelings that brokerage apps were told to stop trading so hedgies could cover yesterday. If you still believe this to be true you should research the T+2 settlement system and understand why the DTCC insisted on more collateral around this incredibly volatile situation where many of the buyers will realize (at some stage) the stock they bought for $350 on Monday is only worth $30 on Wednesday. That could make it difficult to clear trades on that T+2 date unless there’s a lot more collateral backing the prices paid on Monday.
