People on the internet giving opinions on things they don't understand? Why I never! 😬
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People on the internet giving opinions on things they don't understand? Why I never! 😬
OP
OP
lol I know, just kinda regretting posting this thread after folks like you and Chronos post verifiable, legitimate information only for InvestingGenius37 to explain why this is a scam manufactured by Big Reddit and the hedge fund known as WallStreetBets.
Like just read my dudes!
In the 2nd row, what is the $0.3125 referring to?I believe this is the case as well. The good news about the short term volatility is that it'll shake the tree of the people that were never going to hold to begin with. You just gotta hope the majority are holding with you. Set some stop losses at whatever profits you'd be happy with and good luck. I think it has a good chance of breaking $250 and beyond.
And for the "pump and dump" crowd...
He's still in.
If you missed the GME train don't worry everyones piling into other heavily shorted zombie "I can't believe they're still in business" companies like Tootsie Roll (lol), AMC, BlackBerry, Nokia, and Bed Bath and Beyond
Let's make an ETF that tracks whatever is on the top 10 of shortinterest.net 😂 Ticker can be $MEME
Let's make an ETF that tracks whatever is on the top 10 of shortinterest.net 😂 Ticker can be $MEME
Here's an article from Wired magazine explaining the situation for anyone who think this is a simple "pump and dump".
Wired: Ugly Fight
Wired: Ugly Fight
A call option. Simply stated: 100x leverage with an expiration date and price to pay for shares at time of expiration.
Mind you this individual opened their original position in 2019 and held through a ~60% drawdown.
It's highly volatile right now because the shorters are fighting back. But uninformed people will see that as a pump and dump.
OP
OP
I asked my buddy who can explain options far better than I can:
- He paid $0.3125*100 ($30) per contract and bought 800 contracts ($24,000)
- They're now worth 100*65 ($6,500)
Worth noting he sold 200 contracts this morning when the price was around $112 for $2m.
edit: guy above me answered as well
Do you have anything to add or are you going to keep posting this?
I think GameStop might be the last time I invest more than 50 dollars on a single stock, at least for awhile. I know it's chump change compared to what could possibly happen if you score big. But for now, I think until I learn the ropes I'll be sticking to investments that are 30 and under lol. We'll see what tomorrow brings. Based off my current value right now I could make out with more than what I put in but obviously shit is gonna change overnight and in the AM.
Holding but I didn't get in today so I'm doing fine. It's just play money I'm using so it's not like I've got a huge position or anything though. I was following options trading on WSB around this time last year and lost... more than I'd like, and I've got to say that this holding shares thing is waaaay less stressful.
Yeah I'm the same. I threw in what I could afford to lose but I still want the best bang for my buck. Got in on Friday when it dipped to the 60s and it's just been chilling. Watching the line go up and down today. It even dipped below what I bought it for, but it went back up. I know WSB are all about holding, but if it actually doubles my share again tomorrow, I'm definitely taking it this time. But damn that dopamine rush of seeing it increase in the AM was an issue. Lol.
It's a mess over there. Especially since DFV posted that he's holding.
Bought 4 shares with some gains from another stock I've been sitting on. I'm just in it for the good times and 💎👐
Reading uninformed takes 24/7 and getting it at work too is getting really old really fast
Trading is one of my hobbies and a bunch of get-rich-quick FOMO has made the last week or so especially unbearable. Please let this squeeze soon so we can move on
Trading is one of my hobbies and a bunch of get-rich-quick FOMO has made the last week or so especially unbearable. Please let this squeeze soon so we can move on
I played around with $BB for a bit, but I kind of miss how quiet trading was years ago. Robinhood and WSB has made it mainstream. Even RH is advertising trading as an easy way to make money... more like an easy way to waste your paycheck if you don't know what you're doing.
A surefire sign that we are nearing a significant top in the market, is when everyone decides to get involved because it's "easy money".
All these newly minted traders are in for a rude awakening.
All these newly minted traders are in for a rude awakening.
"It's different this time"
(And ironically it might be - the Fed will never raise rates or stop throwing out trillions so who knows what will happen)
So blackberry is partnering with Baidu for autonomous vehicles
Pretty big news, they may have been right on this one
Pretty big news, they may have been right on this one
Looks like Hoeg's law took a look at all the fun
I laughed my ass off at the guy trying to imply foreign powers is behind WSB pumping gamestop lol
guy on the bottom left looked like he shorted a bunch of GME and couldnt get out in time
I laughed my ass off at the guy trying to imply foreign powers is behind WSB pumping gamestop lol
guy on the bottom left looked like he shorted a bunch of GME and couldnt get out in time
So is GME still supposed to rise? Cause after today...I am definitely wary. But the buy price isn't bad at all right now.
You're just straight gambling if you get in in the morning, this is slightly above correct valuation now imo but it could swing wildly again since people are still fighting shorts.
I haven't watched Jim Cramer in years dude looks like he hasn't slept since last time I watched him
I feel like a lot of the takes coming out of WSB are pretty disingenuous.
They're playing it like "what? We just think the company is undervalued. There's some interesting ecommerce plays here!" But like, the current market cap is 20% higher than GameStop's all-time high, when they were a retail powerhouse. There's no "play" here that justifies that valuation. (I understand that there's an inflation element here that means we're probably not really at the ATH right now, but the point remains.)
A lot of these Masters of the Universe types are going to lose billions of dollars, and sure, that's nice. I don't give a fuck. But the reality is that a lot of these memers and self-proclaimed "autists" are going to be left holding the bag when this thing goes pop. And it's going to be fucking ugly. Remember the days in 2017 when r/bitcoin had to pin suicide prevention info to the top of the sub? Yeah, it's going to be that all over again in WSB when this thing busts. It's going to be brutal.
They're playing it like "what? We just think the company is undervalued. There's some interesting ecommerce plays here!" But like, the current market cap is 20% higher than GameStop's all-time high, when they were a retail powerhouse. There's no "play" here that justifies that valuation. (I understand that there's an inflation element here that means we're probably not really at the ATH right now, but the point remains.)
A lot of these Masters of the Universe types are going to lose billions of dollars, and sure, that's nice. I don't give a fuck. But the reality is that a lot of these memers and self-proclaimed "autists" are going to be left holding the bag when this thing goes pop. And it's going to be fucking ugly. Remember the days in 2017 when r/bitcoin had to pin suicide prevention info to the top of the sub? Yeah, it's going to be that all over again in WSB when this thing busts. It's going to be brutal.
please...for your own sakes...Invest if you must, but don't speculate.
bingo. these ppl are just straight up gambling and speculating on the open market right now. I'm not sure when's gamestop next earning call but when that happened, the whole thing will just crash unto them. Gamestop as a business does not justify its current price.....let alone all the wild $100+ price that ppl are pushing up.
Yes the price is bad, they might actually be on to something about blackberry though long term, they just announced partnership with baidu
WSB really makes no pretense that it's not a degenerate gambling sub, but I think this price activity has caused a lot of new users to join and for some reason think that GME should be hundreds of dollars because the guy from Chewy joined the board of directors or something.
even warren buffer joining Gamestop's board of directors will not make it worth more than $50...a company needs to have some concrete plans and investments for the future emerging markets & business before it can be determined as a 'sound investment'.
Gamestop is a traditional retailer. It has nothing in regards to the 'future' and with covid going on, it's retail business is basically in tatters. Even if it pivots to pure online, i pales in comparison to amazon in terms of coverage.
It has literally nothing that justify the current stock frenzy.
This is truly mass hysteria that i am observing here. well, this makes for a good case study i guess for posterity's sakes....unfortunately at the expense of a few thousand people going broke.
this is like the same 'toilet paper frenzy' again...huh?
uhhhhh
yeah lots of folks can shop Amazon but GS is still a much larger piece of market for many publishers and titles (and does a much better job of selling DLC than anyone)
you are buying shares of the company from the POV of an investor, not a customer..
The quarterly earning calls and numbers don't lie, Gamestop is not a growing business and it's basically a dodo bird in the making.
GS is a cyclical retail business which the market has never really understood. Revisit this thought a year (or two!) from now when the new consoles have stock available to sell and games people want, plus the company comparing those sales to their leanest years before they cut bait on a ton of storefronts.
I don't understand how people have been members of that community longer than a day. KanyeToThe had its own language with the memery, but the cuckoldry comments on WSB along with the silly comments about autism in addition to other slurs makes me wonder how anybody communicates. Maybe it was a bad first impression but they just seemed way too insufferable. Although they know their shit. Apparently.
"Like if 4chan found a Bloomberg terminal"
They are true to their mission statement, if nothing else.
Guy in the bottom left corner is literally a static image lmao
I was reading the daily thread on GME and I barely understand anything. Like this post has me blown away:
www.reddit.com
Is this kinda thing even possible? Trawling robinhood data to trigger sell-offs? If so, why am I even surprised?
Man reading that sub just reinforces, to me, that I should definitely stick to index funds. I don't have what it takes to trade individual stocks.
Reddit - Dive into anything
www.reddit.com
Is this kinda thing even possible? Trawling robinhood data to trigger sell-offs? If so, why am I even surprised?
Man reading that sub just reinforces, to me, that I should definitely stick to index funds. I don't have what it takes to trade individual stocks.
I was reading the daily thread on GME and I barely understand anything. Like this post has me blown away:
Reddit - Dive into anything
Is this kinda thing even possible? Trawling robinhood data to trigger sell-offs? If so, why am I even surprised?
Man reading that sub just reinforces, to me, that I should definitely stick to index funds. I don't have what it takes to trade individual stocks.
Selling your trade data is how Robinhood actually makes money, so it's at least plausible.
Ah ok, i see. Thanks for the info to the both of you! :)
Yeah, the stock is swining a lot today. Its been up to almost $100, then down to $80, then up to $95 etc., hehe.