holy fuck here we go
wtf GME up $20 in less than 5 minutes
STONKS!
So a bunch of morons on reddit are pumping gamestop because, reasons? What did I miss here?
Nothing. The only thing I’d quibble with is that when this many morons get together I think the right word for it is herd not bunch.
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Have any of you been actively reading WSB for a while? Does it have a few cult leaders, or is each trend of the week/month started by a different random person? Does basically every pump attempt take off, or are there a lot of failed ones that don’t get talked about as much here?
(I’m starting to read WSB now to get a finger on the pulse, but wow it’s an active sub, so I’ve got lots of catching up to do.)
They’re all getting rich biatch.
IROBOT is up 50%
really feels like every short saw what is going on and is getting out of the way
This is almost certainly the right way to profit off of WSB. It’s like a pump and dump but with the suckers running the show. That’s why it’s going higher than previous pump and dumps from the internet… They have absolutely no idea how to dump correctly.
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If I understand it correctly (I probably don’t) it has to do with the amount of short action against the stock
I have a few thousand sitting unused in an etrade account that would be perfect for meme stonking. Let us gogogogo
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Well one interesting thing that is not brought up is that GME stock had more short interest than shares outstanding if I understand the metric right. Mostly I understand by hedge funds.
Short % of Shares Outstanding (Dec 31, 2020) 4 102.08%
This actually creates it’s own kind of risk of a potential short squeeze if a bunch of people pile into the stock irrationally.
ON the one hand you can say WSB is pumping the stock and manipulating the market but holy crap that short sellers were doing the same thing on the other side and they are getting punished. WSB basically took it as a challenge when Citron research came out with a report reiterating the negative assessment this week.
Pump and hodl worked for bitcoin why not stonks?
I’ll start finding out everything I can. My covid-truther tech analyst friend just set up an account that he wants me to meme-trade for him!
Basically whoever puts the most rocket emojis in a post
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If they can pump up a bankrupt Hertz then what can’t they pump?
Technically that counts as Technical Analysis. We’re analysts now!
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Gamestop now at $133.
It was at $20 two weeks ago.
up 40 in 20 min
As an aside, with digital game sales on the rise (and showing no signs of ever stopping) and brick and mortar sales down, I don’t see how gamestop competes in the long-term without moving to some purely digital platform like steam or as a streaming service.
I read their online sales beat retailers like apple, amazon, best buy, etc. last year, but I’m not convinced it isn’t a fluke because of the pandemic.
I’m not even factoring in the inevitable rise of gaming as a service platforms like stadia.
I’m also not entirely convinced that my opinion is formed with a lack of bias against gamestop though, I don’t particularly like that company much and will go to great lengths to avoid giving them money. Which, turns out, is trivially easy because no one ever actually needs to shop at gamestop.