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Re: GameStop (GME) stock price
Had ..... HAD money to be parted from it seems - I think that’ll do with losing money for a while - at this rate I’m going to have to go back on the game and go back to being a Money (old) boy ! :-)
Hell things are getting that tight I’m (seriously) thinking of messaging Matt for advice on Bitcoin !! ( or Dogecoin perhaps which seems to be the cool thing just now if Lord and master Elon Musk is to be believed)
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Re: GameStop (GME) stock price
“Maybe it’s not as much of just the little guy versus the big guy,” JMP Securities analyst Devin Ryan told CNBC. “I think that it’s reasonable to say that institutional investors were also very active in those stocks last week because there are institutional investors that participate in names that have elevated volume. I think most likely that was also expressed in some of the options activity last week as well.”
https://www.theguardian.com/business...rs-wall-street
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Re: GameStop (GME) stock price
Ive no doubt he's correct, actually I think I already mentioned in a previous post that the small retail investors didn't hold anywhere near the percentage of stock that some of them seemed to think they did and IF traders covered then I've no doubt that deals where made at a mutually agreeable price with the institutional investors to allow them to do that as that would have been in both parties mutual interests to do that.
There does still seem to SOME form of "short" position ongoing still though perhaps ( albeit that maybe being NEW shorts at higher prices now which isn't just as lucrative ( if some of the figures being bandied about online are correct) so in my view it's all still worth a watch - purely from a car crash TV point of view if nothing else :). But i doubt that that huge instant lift that they were hoping for will now be happening anytime soon maybe.
What IS worth watching in the longer term IS their new billionaire CEO, who has a great track record in taking companies exactly like this one and making them become billion dollar worth companies and THAT is where a genuine share rise could follow (over the longer term of course), I see just now he has also announced that he's just hired a few top people from amazon, QVC and Walmart, so it seems he's really going for the injection he promised to keep them away from "retail only" sales ( which was what killed their stock in the first place due to covid of course).
So personally I am going to hold for a while yet just to see how that all develops - oh that and of course in the (vain) hope that something magical happens and it all "goes to the moon" after all ( god I HATE all those phrases !) ;)
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Re: GameStop (GME) stock price
This was always just gambling rather than investing, nothing wrong with that, but unless you have got an edge, the bank, in this case the professionals, usually wins.
Anyone want to buy tulips?
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Re: GameStop (GME) stock price
Totally agree with you Brad and I did say that from the start, this was no normal "investment" and you're right 100% a casino bet - I think everyone involved ( or most at least) realised that.
The only difference here being that the players DID think that for once they'd found an edge - and in fact they had in that it's fact that traders HAD shorted the stock by up to 140% of the total shares available, meaning that "whoever" held the majority shares could (in theory) name their price to allow the traders to escape their doomsday scenario positions and the MASSIVE losses they were about to endure.
As I've said above I personally think the traders managed to outfox the small guy and go and buy a lot of shares on Friday past ( not the Thursday as they claimed in the press) BUT that hasn't been proven yet and the figures that may show that wont come out for a while yet so until then it is just a guessing game and a continuation of the roll of the dice for some.
As I've said re me personally while no one likes "loosing' I went in with open eyes and I considered it nothing more than a bit of fun flutter at the tables to pass the time during a VERY boring lockdown and while it wasn't "worth it" I actually passed a few hours and entertained myself reading a load of entertaining posts on the Reddit groups involved with it all ( and learnt a bit about stocks too even - ha aye, mainly don't "gamble" being one main thing of course :-).
But it's not the end of the world and while I don't expect to make anything I'm quietly confident over time, whether that be days, weeks, months or years even, of just letting those stocks lie there and I think the loss will reduce to an not so wallet annoying amount ( as do understand I'm not saying "oh it's nothing, £11500 STG is still a kick in the balls in anybodies money and I could certainly do with it rather than losing it too of course!)
But thankfully not the end of the world and all part of the rich and fun tapestry of life just I say :-)
* Plus did you not read it on there, myself and everyone else are all going to "the moon on rocketships" apparently......just anytime now, just i think someone forgot the matches to light the blue touch paper of the rocket it seems !! :-)
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Re: GameStop (GME) stock price
If the reason for the rapid price appreciation is purely a short squeeze, then after that's played out, the price of the stock ought to return to something similar to the true value of the business.
So it becomes an exercise in trying to figure out the psychology, how many forced buyers there are and so on. That's way too difficult for me and it comes with a massive downside risk.
I'll try to keep it boring and look for stocks that should steadily compound over the next 10 or 20 years. Preferably purchased at a bargain price as well.
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Re: GameStop (GME) stock price
Quote:
Originally Posted by
goji
I'll try to keep it boring and look for stocks that should steadily compound over the next 10 or 20 years. Preferably purchased at a bargain price as well.
I assure that THAT is my standard MO as well - this as I've said now a few times was never a "normal" investment decision, but merely a punt / gamble / roll of the dice as to IF the traders fucked themselves TOO much for once and left themselves exposed for a killing ( which they did actually and this whole escapade has cost them around half a billion or so they reckon( which they'll make back again of course ) but either way they didn't get it quite right this time round and it has highlighted their blatant manipulation of the markets from something everyone knew about to something everyone that wanted to look at could see happening right in front of their eyes - and THAT could well cost them more in regulation in the months to come as it did no one any favours and made government look bad too for not addressing it sooner perhaps.
Re the working out the maths etc - you're right there too, but in this case that "hard" work had already been done and the shorts position was known ( albeit with the figures being out of date perhaps) but that's yet to be seen. But for sure anyone who "invested" here using their normal investment portfolio pot is and was CRAZY. Personally I don't believe half the stories I'm reading about how people put in "everything" and cashed in their pension plans etc to load money into this as "surely' people cant be THAT stupid !? But hey when greedy kicks in who knows I guess ! ( says he sitting here around £8k down just now himself eh :-)
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Re: GameStop (GME) stock price
This ( GME shorting ) over the last few weeks or so is not normal. The HF's were caught napping by a well clued up small investor. He knew he needed lots and lots of small investors to buy and drive down the share price hence redditors. They did not carry out any due diligence,the smart guy did that. So yes it was a gamble,actually the subreddit name says it i.e. wallstreetBETS. But it seems it wasnt just small investors doing the buying according to the guardian newspaper i posted on earlier.
This was never your typical blue chip long term investment....this was more like ...musical chairs,and when the music stops you better have a seat!
But for me it was very exciting.
Lol
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Re: GameStop (GME) stock price
Quote:
Originally Posted by
Nirish guy
I assure that THAT is my standard MO as well - this as I've said now a few times was never a "normal" investment decision, but merely a punt / gamble / roll of the dice
I'm sure that you, Zebedee and others invest sensibly. Also, even I allow myself to put 1 or 2% into something more short term, when an opportunity crops up. Not GME though.
I'm just bemused that the only stock discussion that gained traction is something highly speculative.
Likewise, if exchange rates are ever discussed, people love the speculation on where rates are going. Even though they have no clue and a sensible response is to balance assets and liabilities. So if you spend 40% of your money in baht, invest 40% of the money in Thailand. Since that's a bit too risky, make it 40% in Asia. But it seems there's more excitement in the speculation and no one is ever interested in discussing steady sound investment.
(Tumbleweed blows past)
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Re: GameStop (GME) stock price
Quote:
Originally Posted by
goji
I'm just bemused that the only stock discussion that gained traction is something highly speculative.
Im not sure if you mean here on the board or out there on the net in general there.
I think GME was just a weird media / Reddit driven thing and was never actually a proper discussion by anyone on it's merits as a sound investment, it was always more about some people wanting to "stick it to the man" and others "making a quick buck - and a lot of those quick bucks at that too !"
While I was always firmly in the second camp it would of course have been nice added bonus to see just one (overly) greedy hedge fund getting screwed for once too perhaps - and in fact the one fund who were mainly involved ( Melvin Capital) lost over $6.5 BILLION Dollars and over 53% of the value of it's investors funds when having to buy their way out of their mistake / greed, so they certainly didn't walk away unscathed either by any stretch. Of course they'll male that back again elsewhere but it was still nice to see them feeling the pain too somewhat. I
t should be noted that a lot of ordinary small investors and mainly the ones who got in early on the whole story DID in fact make a lot of money too and many bought low and sold high, with many also still holding their shares in the hope of selling them again later at a profit too, so unless GAME goes bankrupt and there stick becomes worthless ( hopefully not) a lot of people did ok out of their "gamble" - ( unfortunately I wasn't one of them as I got in to late - but i've still the stock and i'm not to worried about that either way thankfully)
For anyone who's interested here's the FT's view on what occurred.....
https://www.ft.com/content/3f6b47f9-...4-6a62f1bd39e0
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Re: GameStop (GME) stock price
Some of your large fan base Nirish guy! Lol
https://old.reddit.com/r/wallstreetb...pfuckingvalue/
originally a soccer match clip.
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Re: GameStop (GME) stock price
Ha ha - although I dont know what they were all cheering for as I'm guessing quite a few of them lost a bit - or perhaps that was only me !!! :-) Still things are looking up, I think I only lost about £500 more in the last week so that's less that the week before so there we are a DEFINITE improvement !!! lol I've decided to take on the style of the Donald Trump school of economics now and only report the "good" news ( to myself) and then everything will be just fine !! lol
I'm more pissed that Telsa has lost around $100 a share over the last short while as THAT does start to hurt in very real terms over a period if it persisted ! But i'm sure that'll bounce back again shortly ( he says crossing his fingers, legs, toes and anything else that's long enough to cross ! :-)
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Re: GameStop (GME) stock price
Quote:
Originally Posted by
Nirish guy
I'm more pissed that Telsa has lost around $100 a share over the last short while as THAT does start to hurt in very real terms over a period if it persisted ! But i'm sure that'll bounce back again shortly ( he says crossing his fingers, legs, toes and anything else that's long enough to cross ! :-)
GameStop, Telsa ?
What next ? Dogecoin ? https://m.youtube.com/watch?v=s3NWyh8a5t0
Semper Augustus?
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Re: GameStop (GME) stock price
well now Tesla I'm not complaining about as i've been holding that a while now and have made a nice amount out of that so far - and long may that continue ! ( as to whether it will or not is a different matter of course !)
But if you think that's all risky ( tulip ) investing ( which of course it is to some point) let me just tell of you of my own Financial Adviser who after investing a sum of money me for me in a locked Bond for over a year just came back to me there with something crazy like a 2% growth ( and even that was only gained in the last two months as it was in a negative position for months before that) and then proudly handed me a bill for his "advice" of over £3000, thus wiping out any profit made on that particular investment.
In the meantime had taken some money ( all against his "professional advice") and dumped it into Tesla and a few other similar stocks ( NIO etc) and went back to him in less that 9 months with WELL over 120% returns !!!
The most grating thing was that he STILL tried to argue that 'his advice" was best and his "strategy" was sound as "if it wasn't for the Covid crash he was sure he would have delivered maybe 6-8% returns year on year where as mine "probably" wouldn't continue to grow ( it DID !) ! Him also totally missing ( or ignoring the point !) that my 120% + returns had ALREADY blown him out of the water for several years to come ! But no, he was still admament that his "professional" ( and bloody expensive) advice was best and so he was worth his fee !
You can imagine the reply he got from me ( after I paid him in full by the way - much to MY annoyance )
So yes Tulips it may be - but THAT is where the money seems to be just now and like everything knowing when to get in and out is half the battle, if you ever work THAT part out then DO please let ME know too ! Thanks ! :)
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Re: GameStop (GME) stock price
Any of you guys holding some bitcoin? Holy shit, I'm smiling.
Ever since Tesla dropped $1.5 billion into bitcoin it's been roaring, and I don't believe there's an end in sight. Tesla will be accepting bitcoin as payment for cars shortly, Mastercard said their going to offer cards / products for bitcoin, BNC Melon some huge fund management company on Wall Street are going to open their trading channels to bitcoin, there's rumors Apple is about to drop a large investment, et al.
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Re: GameStop (GME) stock price
Yes cdnmatt I saw that,it seems you were right all along! I sincerely hope you have a large hoard of them,oh and becareful where you store them!
https://www.businessinsider.com.au/m...21-1?r=US&IR=T
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Re: GameStop (GME) stock price
Ouch, 7500 bitcoin gone? That's gotta hurt.
There were times I had like 500 BTC in the past, but well, I had bills to pay... don't have anywhere near that right now, but still enough to put a smile on my face.
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Re: GameStop (GME) stock price
Zebedee - if you've money in GME are you watching whats going on there just now !?? Very interesting ! :)
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Re: GameStop (GME) stock price
Just saw it now thanks. No I'm not a player in this game....I like to watch! LOL
There's an article in the Guardian with an explanation,they seem to think it may have something to do with the Financial Director resigning,but who knows . Anyway,I hope you've made a few bob.
https://www.theguardian.com/business...frenzy-returns
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Re: GameStop (GME) stock price
Quote:
Zebedee],I hope you've made a few bob
Well losing less by the day which is something, it seems as I'd hoped that the new CEO is going in an kicking ass. He's appointed a new board and has stated his intention to is to turn into an online retailer in the form of Amazon or such like - which has piqued the investors interest again it seems........lets hope that continues and he succeeds .....I'm just sorry now that I didn't double down more than I did when I bought my last load of shares when they were at $40 ( as they're currently at $180 or so and climbing !) so, now the next dilemma - to fold or hold when if and it comes to break even time ($233 in my case) ! Decisions decisions lol
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Re: GameStop (GME) stock price
Cognitive Biases In Investment. See #3.
Although, it's quite possible our professional speculators who ignore all this do way better than me on the stock market.
https://www.magellangroup.com.au/ins...ment-mistakes/
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Re: GameStop (GME) stock price
Yes perhaps Goji but the cognitive bias card gets thrown about a lot too mind.
Tell me it's "wrong" to think / hope " a new CEO may improve things as he has a great track record in doing that elsewhere: - then when he's appointed that starts to happen - is that bias or just plain facts taking place as one had hoped in front of your face? Perhaps a bit of both. As I've said all along Gamestock was never a serious "investment" trade and all the usual parameters one might use were never really applied in the first place - it was a punt, nothing more.
So, whilst you're right in that many a golden investment rule has been broken here, on the other hand it's a punt and "sometimes" it's ok just to go with ones gut - biases aside or not, well I think anyway.
Ps I perhaps wouldn't put TOO much sway on that link you added as I see on that page they talk about "...we run the Magellan Global Fund like a football team where we have the ability to put many players onto the paddock at any one time" - Well now, I'm not a sports fan but even I know that paddocks are for horses so Im not sure why they'd want to be sending their many players there and if they dont know the difference I think I'd be treating their advice with caution perhaps !!?? lol
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Re: GameStop (GME) stock price
Quote:
Originally Posted by
Nirish guy
Well losing less by the day which is something, it seems as I'd hoped that the new CEO is going in an kicking ass. He's appointed a new board and has stated his intention to is to turn into an online retailer in the form of Amazon or such like - which has piqued the investors interest again it seems........lets hope that continues and he succeeds .....I'm just sorry now that I didn't double down more than I did when I bought my last load of shares when they were at $40 ( as they're currently at $180 or so and climbing !) so, now the next dilemma - to fold or hold when if and it comes to break even time ($233 in my case) ! Decisions decisions lol
Its looking good now $237, yes it is a tough call as it " appears " to be on the rise ,hopefully as a result of your analysis above.
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1 Attachment(s)
Re: GameStop (GME) stock price
Market cap $16.8 bn
Turnover in last FY: $6.47bn
LOSS in last FY: $470m
Personally, I MIGHT, at a stretch, considered this to be worth investigating further at the $5 or so back in August 2020. If holding some @ $243, I'd be selling as fast as possible.
This is one of the most insane share price charts I've ever seen, particularly since the underlying business appears to be crap and they have not had some game changing event to support the price movements. e.g. test results for some wonder drug, discovering a trillion barrels of oil or making nuclear fusion work. Unless I missed that part.
However, I hope N Irish does well out of his speculation & then takes the money off the table in good time. Hopefully tax free within an ISA, SIPP or spread betting account.
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Re: GameStop (GME) stock price
Quote:
Originally Posted by
goji
Market cap $16.8 bn, Turnover in last FY: $6.47bn LOSS in last FY: $470m t.
Again Goji you're looking at this through the lens of a standard trade and it NEVER was.
Gamestock as a Company were more or less DONE and on the way out last year anyways and then Covid came which was probably going to be their final nail in the coffin ( as your figures clearly show).
BUT as you've read in previous posts no doubt after the whole Walls Street "shorts" issue (wether that be real or imagined) there was then a concerted campaign by their nerdy fanbase to keep the the Company afloat whilst also trying to stick it to the Wall Street traders by the Reddit nerds buying the stock.
So very much like Tesla, the price you're seeing rising there today has NO bearing whatsoever on the past performance of the Company but is based solely on what their new CEO (might) be able to do with the Company in the months ahead ( which is a crazy position to invest on I know but hey that seems to be the order of the day in some investment circles of late - rightly or wrongly).
But yes you're also right that based on their recent stock numbers and my own break even point, getting out now while it's in the green for me at any level ( rather than the £11.5k LOSS I was at a week ago!) would seem to any sane person be a very sensible move and one that I'm certainly open too ......
Saying that :)..... and as I've said before, this one was always a bit of crazy punt and so I'm tempted to perhaps give it a few days just to see how it all develops (or not) - but do rest assured if it takes a tuen and looks like it's heading south again then to hell with that and I will sell this time as just now I can do without all that excitement and drama in my life - it was fun while it lasted but now I'd like some $ or time to move on I think.