Gamestop

[jberesford]

Plug power up 54 percent in premarket. Glad I opened this thread today and checked my shit for the first time in a few days in case something weird like this was going on. My previous worthless options, some expiring Friday went from being worth the minimum $1 are now in the money and gonna be up a couple thousand percent. Might get my money back I thought was gone.

Edit: hit 66 percent while typing this out.

 

[Phenomenally Frantastic]

GME was halted in the first minute of trading.

 

[Phenomenally Frantastic]

I thought they said all the shorts are washed out of GME at this time?
Not true?

Shorts never closed. It was in the Congressional report. They can’t close. They Shorted ~220% of all stock that existed. The Shorts were expecting bankruptcy and never having to buy any stock back ever. Free $

 

[Bonerfarts]

 

[TennNole17]

Up 100% in the first 4 minutes? Lord...

 

[jberesford]

Took some profit (kind of, more like recovered losses plus a few bucks) on PLUG options. Worth a dollar yesterday since they were so far out of the money and expire friday, unloaded them for a hundred some each. Kept some as lottery tickets in case there's another burst and my June and next year options are all back in the money and I'm up a fair amount on them.

 

[Bonerfarts]

Weeeeeee!

 

[Bank of Hawk]

In on the action. Call me Mr bagholder, stop loss at 60% for the rest of the day.

 

[Phenomenally Frantastic]

I doubt it. These are the numbers as of 4/30

Shares Short (Apr 30, 2024) 64.37M
Short Ratio (Apr 30, 2024) 15.3
Short % of Float (Apr 30, 2024) 27.73%
Short % of Shares Outstanding (Apr 30, 2024) 21.02%
Shares Short (prior month Mar 28, 2024) 65.69M

This is only what is voluntarily reported. Bad actors hide short positions in derivatives/swaps and don’t report those. No one has any idea what the true shares short count is currently.

 

[Phenomenally Frantastic]

It’s been 34 minutes.

 

[B1GDeal]

 

[Gus is dead]

I believe AMC and GME are in a basket swap and their total market valuations need to be relatively similar for the swap to be in unison.

This theory explains why they trend together so often. I first saw this theory over a year ago.


Their valuations rising and falling together have absolutely nothing to do with either business. This swap is some kind of hedge. I dont fully understand the mechanism but have observed it several times over the last three years.

Since last night, AMC is up ~106%. $3.11 to $6.42.

GME? $20.88 overnight and peaked at $41.07 or 96.7%

How?

I assumed that since they both were meme stocks they moved together for that reason. That the WSB folks jump on both hoping for the moon.

 

[Phenomenally Frantastic]

 

[Phenomenally Frantastic]

 

[Phenomenally Frantastic]

 

[Phenomenally Frantastic]

I think TA is voodoo but this may be helpful.

 

[Phenomenally Frantastic]

Tuesday throwback.

 

[Phenomenally Frantastic]

 

[Whiskeydeltadeltatango]

In on the action. Call me Mr bagholder, stop loss at 60% for the rest of the day.

Explain what is happen to me like I'm 5.

 

[Phenomenally Frantastic]

 

[Phenomenally Frantastic]

Explain what is happen to me like I'm 5.

This is a good summary.

 

[hawkeyez]

I sold half of my shares @ $72 premarket. Cost basis was $38

@RicoSuave102954 aint got nothin on me!

 

[Bonerfarts]

Explain what is happen to me like I'm 5.

A high stakes game of chicken.

 

[Phenomenally Frantastic]

Why is this allowed?

 

[Bonerfarts]

Why is this allowed?

View embedded media

It's how hedge funds got out of their trap last time.

 

[Phenomenally Frantastic]

We can all agree this is market manipulation right? Unprecedented.

It isn’t to help retail I guarantee you that.

 

[Bank of Hawk]

my AMC puts filled about an hour ago to hedge the straight market buys I made.

 

[Bank of Hawk]

Explain what is happen to me like I'm 5.

I decided to buy $500 stock of AMC, hoping the price would continue to go up. Yet, if it doesn’t, the most I will lose is 60%, where my sell order will activate. I hope it goes up, but put a floor on how much I am willing to lose.

 

[Bank of Hawk]

Almost exactly like playing craps

 

[Whiskeydeltadeltatango]

I decided to buy $500 stock of AMC, hoping the price would continue to go up. Yet, if it doesn’t, the most I will lose is 60%, where my sell order will activate. I hope it goes up, but put a floor on how much I am willing to lose.

That part I understand, it's how "gamestop" is worth anything and happening again I didn't. The video was informative.

Best of luck broski.

 

[Formerly Rockymtnole]

What is the point of playing around with a few thousand dollars? Is it just for fun?

 

[Bonerfarts]

 

[Bonerfarts]

What is the point of playing around with a few thousand dollars? Is it just for fun?

To make tens of thousands of dollars.

 

[Formerly Rockymtnole]

To make tens of thousands of dollars.

I guess.

I’m more talking about stuff like $500 on AMC.

 

[Bonerfarts]

I guess.

I’m more talking about stuff like $500 on AMC.

Same with gambling. Everyone has their reasons, but its fun having action on the big game. Same with stocks.

 

[tumorboy]

Almost exactly like playing craps

 

[Funky Bunch]

What is the point of playing around with a few thousand dollars? Is it just for fun?

So you can post your loss porn on wallstreetbets

 

[Bonerfarts]

It's pumping season.



Of course I bought a short dated out of the money call option.

 

[tumorboy]

It's pumping season.

View embedded media

Of course I bought a short dated out of the money call option.

 

[tumorboy]

So you can post your loss porn on wallstreetbets

The point is so you can hide it from the wife.