The shorts are hanging on by a thread and about to lose their grip?
Need to finish above $200 today!
Gamestop
- Thread starter Bonerfarts
- Start date
The shorts are hanging on by a thread and about to lose their grip?
Need to finish above $200 today!
Me this am finding out the market was closed today.
Me this am finding out the market was closed today.
happy good friday
I was looking for an exit and bought more instead. I need help
I did it again. I need to walk away and quit watching for dips and shit.
I like this stock better from the sidelines
One thing I’m feeling compelled to point out (but honestly the people that need to hear this won’t listen anyway):
It is quite common for stocks to have short interest. Anybody “holding” GME should be aware of this but even typing that makes me laugh... You don’t necessarily have an expectation of a squeeze just because there is a short interest of x% still... now I know that short interest should never be over 100% of the float, but it’s quite common to see numbers like 3-6%
It is quite common for stocks to have short interest. Anybody “holding” GME should be aware of this but even typing that makes me laugh... You don’t necessarily have an expectation of a squeeze just because there is a short interest of x% still... now I know that short interest should never be over 100% of the float, but it’s quite common to see numbers like 3-6%
The fact that the short % is "unknown" is sort of whats driving the craze I think.
Lol, i definitely prefer a more conservative approach spread out in a handful of etf's. Im not full boglehead, but the below represents my invest and chill philosophy.
Still hanging around. Its gone from a gambling play to hoping it takes off at some point.
In other news, I did start a Fidelity account and get some "normal" ish stocks that have all seen mild gains over the past month (8%). When I finally get out of Gamestop I will for sure be throwing it in my fidelity account
In other news, I did start a Fidelity account and get some "normal" ish stocks that have all seen mild gains over the past month (8%). When I finally get out of Gamestop I will for sure be throwing it in my fidelity account
Mild gains at 8% in a month? Dude, that a great return in a month!
This is how they alleviate retail buying pressure. Pool buy orders together, buy on dark pool synthetic shares at an agreed fixed prices, then simultaneously sell any legit sell orders on the open market. Voila! Market manipulation in broad daylight.
Any person buying or selling stocks on the NYSE is willingly agreeing to get screwed. You may no longer say you don’t know this is happening.
Any person buying or selling stocks on the NYSE is willingly agreeing to get screwed. You may no longer say you don’t know this is happening.
SEC is fully aware this is happening and does nothing because they work on behalf of the financial institutions and hedge funds. They haven’t said a GOD DAMNED THING!
So, help me on the math here. What would that 'mild' gain be annualized?
Why are retail only allowed to buy for two digits and dark pools and HFTs can trade to the fourth and fifth digit?
$158.78
vs
$158.77995
Anyone?
$158.78
vs
$158.77995
Anyone?
Can I interest you in 1/100 millionth of a bitcoin?
1 Satoshi = 0.00000001 BTC
1 dollar ~ 1640 Satoshis
I don’t know how to do that math 😂
Smoking gun explanation here:
“There are times where large players need to push shares to each other as part of settlement/housekeeping. These are not additional trades. It's similar to how you write a check today and the banks settle the change of the funds. Its a normal process and with the stock market, those types of trades are usually large and would cause a change in the share price.
So the Dark Pools were created as a means of large players to push shares between each other, only for housekeeping tasks, but of course, no guardrails were put on the process, so the players, quite predictably started to abuse it.
Its like floating checks. You present a check with the tacit assumption that the funds are present and able to be withdrawn. If you present a check knowing the funds are not there, then it's fraud. This is similar. They are leveraging a mechanism (like the time it takes for a check to clear) meant to facilitate the housekeeping tasks and abusing it. The SEC seems fine with this.
You can tell this is the case when you see the 39 share BUY blocks fly through dark pools, but magically, the sell blocks flow through the open exchanges. No one should ever be pushing 39 ****ing shares through a dark pool and its the most glaringly obvious evidence, but the SEC? Still out to lunch, because bribes.“
“There are times where large players need to push shares to each other as part of settlement/housekeeping. These are not additional trades. It's similar to how you write a check today and the banks settle the change of the funds. Its a normal process and with the stock market, those types of trades are usually large and would cause a change in the share price.
So the Dark Pools were created as a means of large players to push shares between each other, only for housekeeping tasks, but of course, no guardrails were put on the process, so the players, quite predictably started to abuse it.
Its like floating checks. You present a check with the tacit assumption that the funds are present and able to be withdrawn. If you present a check knowing the funds are not there, then it's fraud. This is similar. They are leveraging a mechanism (like the time it takes for a check to clear) meant to facilitate the housekeeping tasks and abusing it. The SEC seems fine with this.
You can tell this is the case when you see the 39 share BUY blocks fly through dark pools, but magically, the sell blocks flow through the open exchanges. No one should ever be pushing 39 ****ing shares through a dark pool and its the most glaringly obvious evidence, but the SEC? Still out to lunch, because bribes.“
I don’t believe so, no. The individual being vetted for the SEC Commissioner was responsible for bringing to light the hijinks of Wall Street in 2008. The DTCC just implemented new capital controls on its members which saw massive OTM put buying completely dry up last week. This may cause FTDs to not be able to be rolled over indefinitely like they have been for the last 3 months.
GME is international, if they do not force Citadel & Co. to pay for their egregious crimes here it will cause a potentially catastrophic decline in the confidence of US equity markets on an international stage. No one wants to see this happen.
I think the current CEO’s impending resignation on Apr 15 will encourage stakeholders that a different business model and new future for the company is as palpable as ever. Similar e-commerce business valuations suggest a $400-$500 valuation in the future.
Almost any way you look at it, I find it very hard to believe this ends well for Citadel & Co. They are levered to the hilt and ripe for being margin called into oblivion. I don’t see how they get out of this without massive collusion between SEC, DTCC, & the US Fed Gov.
As for me, I like the stock.
I don't get the optimism for Gamestop pivoting away from brick and mortar stores to an e-commerce model.
What are they going to sell? Video games are largely transitioning to downloads vs physical copies, so Gamestop won't sell as many games as they used to - online or otherwise.
For consoles, they're competing against Amazon, WalMart, and Target - which already to a ton of online console sales, and include free shipping, or picking it up from a store. I'm not sure how Gamestop could have an advantage over any of them.
So peripherals? Same competition as for consoles, but with the added competition of people buying direct for the manufacturers. I recently bought the daughter gaming headphones from Razer and their customer experience was terrific.
That leaves the other crap they sell - fungo characters, stickers, collectible figures, gaming-themed tshirts, etc.
I just don't get how they have a potential business model to be optimistic about.
What are they going to sell? Video games are largely transitioning to downloads vs physical copies, so Gamestop won't sell as many games as they used to - online or otherwise.
For consoles, they're competing against Amazon, WalMart, and Target - which already to a ton of online console sales, and include free shipping, or picking it up from a store. I'm not sure how Gamestop could have an advantage over any of them.
So peripherals? Same competition as for consoles, but with the added competition of people buying direct for the manufacturers. I recently bought the daughter gaming headphones from Razer and their customer experience was terrific.
That leaves the other crap they sell - fungo characters, stickers, collectible figures, gaming-themed tshirts, etc.
I just don't get how they have a potential business model to be optimistic about.
The one thing I saw (no idea where) was to use their retail space for gaming tournaments, trainings, social gathering spaces to drive their ebuisness.
I have no idea. I didn’t know chewy was a big deal but apparently it is
I have no idea. I didn’t know chewy was a big deal but apparently it is
Memorable experiences. Most of the most fun times of my youth revolved around video games, anticipation, buying, playing, & talking about them with friends. Parents & kids bonding. Heck I don’t know. I don’t think the long list of uber successful executives Cohen has assembled would be joining him if he didn't have a solid plan. I guess one either thinks Cohen has a plan and will execute it or you don’t.
As much as today was a good day, it really is just recovery from several bad days. If it can continue throughout the rest of the week, it might take off.
I tried to jump on COIN at open, I had a limit order in for $300 and it was at $400 by the time it showed on my screen. Oh well.
another IPO I’m watching is EBET.
I tried to jump on COIN at open, I had a limit order in for $300 and it was at $400 by the time it showed on my screen. Oh well.
another IPO I’m watching is EBET.
In addition to some items others said, PC gaming is almost completely untapped. Those gamers are devoted and pay untold amounts to accessorize their setups. GME is already starting to sell gaming chairs and things like that. Plus, they plan to turn their stores into mini distribution centers, offering same day pickup while closing unprofitable stores. And with the long term debt being repaid, they can now look to make an acquisition/merger to get more entangled in the esports world.
I've had PONGF (atari) in a play account since Feb at .433. It was at 1.17 at one pt, now at 1.03. Been a wild one to watch. Supposedly they are getting into crypto and casinos and other shit.
Ruh oh, Citadel’s puppets in the Senate could not stop him getting confirmed...not good for hedgie financial crime syndicates.
www.marketwatch.com
Senate confirms Gary Gensler as SEC chairman
The Senate confirms Gary Gensler as chairman of the Securities and Exchange Commission, paving the way for what could be an ambitious financial regulatory...
www.marketwatch.com
Another reason why "Roaring Kitty" has earned the respect of his peers is that unlike so many traders who make a buck on a trade and move on, Gill has demonstrated true diamond hands, and not only that but he is now literally doubling down on the company that brought him stardom and riches by exercising his call options and buying even more shares.
"Deep****ingValue" posted a screenshot of his portfolio showing that he has exercised 500 GameStop call options expiring Friday at a strike price of $12, giving him 50,000 more shares of a stock that closed at $154.69 on Friday, but will likely blast off on Monday once the Reddit animal spirits are reignited.
There's more: in addition to exercising his options, Gill also bought another 50,000 shares of the video-game retailer, doubling his holdings to 200,000 shares from 100,000 at the beginning of the month. His total investment in GameStop is now worth more than $30 million, giving him a profit of nearly $20 million. Bloomberg reached out to Gill’s mother, Elaine Gill at his childhood home in Massachusetts, who confirmed the Reddit screenshots were posted by her son.
Despite having earned the praise and admiration of most of his peers for executing what many have said has been the most astute short squeeze since Volkswagen, there were haters too and roughly around the time Gill was explaining to Maxine Waters how investing works, he was hit with a lawsuit that accused him of misrepresenting himself as an amateur investor. The suit alleged that he was actually a licensed securities professional who manipulated the market for profit, which he denied.
To be sure, it wasn't just Gill: some argue that the true mastermind behind the Gamestop squeeze was not Roaring Kitty at all but hedge fund Senvest which started buying GME shares all the way back in September - roughly around the time the post "The REAL Greatest Short Burn of the Century" appeared on Reddit and which made over $700 million on its GME position which has given it the top position in the HSBC hedge fund ranking for the third month in a row
Meanwhile, on Friday GameStop CEO George Sherman who is expected to leave, sold almost $12 million in shares. The company is looking for a new CEO as part of a shake-up spurred by activist investor and Chewy.com co-founder Ryan Cohen, Bloomberg notes.
While shares of GameStop are up 721% YTD, though they are less than half of the peak level in January. However, now that Roaring Kitty has shown his Reddit peers that he is not only in it for the long run but doubling down, expect another squeeze on Monday as the latest generation of shorts which have entered the stock in recent weeks, is steamrolled, and as Reddit excitement in GME which had fizzled in recent weeks...
... explodes afresh.
And speaking of Chewy, we remind readers that the reason why the stock rose as high as the mid-$400s in February is not only the presence of Chewy founder Ryan Cohen, but that as the September Reddit write up noted, "if GME was trading at the same P/S multiple as $CHWY, the share price would be $420."
In short, GME may be about to double all over again.
Which begs another question: is the daytrading, gamma-squeeze mania that shook markets in late January, about to send GME - and the whole batch of most shorted names - soaring higher all over again?
"Deep****ingValue" posted a screenshot of his portfolio showing that he has exercised 500 GameStop call options expiring Friday at a strike price of $12, giving him 50,000 more shares of a stock that closed at $154.69 on Friday, but will likely blast off on Monday once the Reddit animal spirits are reignited.
There's more: in addition to exercising his options, Gill also bought another 50,000 shares of the video-game retailer, doubling his holdings to 200,000 shares from 100,000 at the beginning of the month. His total investment in GameStop is now worth more than $30 million, giving him a profit of nearly $20 million. Bloomberg reached out to Gill’s mother, Elaine Gill at his childhood home in Massachusetts, who confirmed the Reddit screenshots were posted by her son.
Despite having earned the praise and admiration of most of his peers for executing what many have said has been the most astute short squeeze since Volkswagen, there were haters too and roughly around the time Gill was explaining to Maxine Waters how investing works, he was hit with a lawsuit that accused him of misrepresenting himself as an amateur investor. The suit alleged that he was actually a licensed securities professional who manipulated the market for profit, which he denied.
To be sure, it wasn't just Gill: some argue that the true mastermind behind the Gamestop squeeze was not Roaring Kitty at all but hedge fund Senvest which started buying GME shares all the way back in September - roughly around the time the post "The REAL Greatest Short Burn of the Century" appeared on Reddit and which made over $700 million on its GME position which has given it the top position in the HSBC hedge fund ranking for the third month in a row
Meanwhile, on Friday GameStop CEO George Sherman who is expected to leave, sold almost $12 million in shares. The company is looking for a new CEO as part of a shake-up spurred by activist investor and Chewy.com co-founder Ryan Cohen, Bloomberg notes.
While shares of GameStop are up 721% YTD, though they are less than half of the peak level in January. However, now that Roaring Kitty has shown his Reddit peers that he is not only in it for the long run but doubling down, expect another squeeze on Monday as the latest generation of shorts which have entered the stock in recent weeks, is steamrolled, and as Reddit excitement in GME which had fizzled in recent weeks...
... explodes afresh.
And speaking of Chewy, we remind readers that the reason why the stock rose as high as the mid-$400s in February is not only the presence of Chewy founder Ryan Cohen, but that as the September Reddit write up noted, "if GME was trading at the same P/S multiple as $CHWY, the share price would be $420."
In short, GME may be about to double all over again.
Which begs another question: is the daytrading, gamma-squeeze mania that shook markets in late January, about to send GME - and the whole batch of most shorted names - soaring higher all over again?
