Re: GameStop (GME) stock price
THIS IS WORTH READING.
Nirish, I know ,I know you MIGHT have seen this already but just in case you haven't I'll post it. My usual, "sorry about the big copy n paste, dunno if its true or bs, up to you blah blah". lol
Also, do not buy that dinghy just yet, because if the stocks take off,---- "you're gonna need a bigger boat".
Good Luck.
----"Oh my god! GME is down to $150! It's down to $100! It's down to 30 cents! The hedgies are going to cover all their shorts at that 30cent price point! It's over!
Wrong.
No one is selling at these prices. Sure, maybe a few scared folk who don't know any better. Maybe they trigger a few stop losses. Maybe some margins get called. But it's not enough. Say it with me:
PRICE DOESN'T MATTER
WHAT?!
You heard me. 30cent GME? No problem.
They don't need a low price, they need your shares. If 10 people sell at 30c cents, and that's the only market activity, it's a "30 cent stock" but Melvin only netted ten shares. They are still fucked. They aren't buying 50 million shares at 30c, nor $100, nor $300, and that's their problem. It's an availability issue. Sometimes it's ALSO a price issue (too high for them) but primarily it's the availability.
All the activity driving down the listed share price are illegal ladder attacks (not that legality should be expected at this point, these folk are crooks). Those aren't actual sales though, it's just shares trading hands from hedgie to hedgie. They aren't gobbling up value. These people don't admit defeat, they are neither smart nor humble, they are crooks. They need 50 million+ shares. They need over 100% of the float to sell to them (that 50% float you hear about is accounting shennaigans, ignore it, they are still exposed). You can NOT close that many positions sniping a few shaky handed noobs. We aren't talking about a few shares they need to buy, we're talking about fucking ALL OF THEM.
I'll explain that in a second, but first let me repeat:
PRICE DOESN'T MATTER
So let's say you want to buy 50 million shares, let's look at what shares are being asked for in my hypothetical example market:
# of Shares - Price
x 20 - $0.30c
x 80 - $5
x 400 - $20
x 600 - $40
x 900 - $60
x 2,000 - $100
x 5,000 - $150
x 10,000 - $200
x 30,000 - $300
x 50,000 - $400
x 150,000 - $500
x 1 mil - $1,000
x 15 mil - $5,000
x 30 mil - $69,420
Get it? There are only a few people willing to sell at those low prices. By the time you've bought a quarter million shares (0.5% of what you need to buy) you're back up to the sustained highs. And these are just exaggerations to make a point. A stock price only reflects current trade values, not availability at those prices. If the hedgies are trading their shares back and forth to each other to drive down the price and they have ladder attacked down to a Nickel, that doesn't mean anyone's shares are only worth pocket change, that just means that that is what things are trading at in the moment. There's no volume to buy up at those costs. No one can force you to sell at a Nickel.
Get it?
PRICE DOESN'T MATTER
They need our shares, not a low price. The price does not reflect whether we are 'winning' or not. Their financial reserves indicate that, but there isn't a ticker for that. But be sure, every day the inevitable closes in. Sell out of fear if you like, but you'll just miss out in the end. People like me, as we shore up more funds, snipe these low prices, stealing away shares the hedgies use to ladder and taking shares away from shaky hands and putting them into steady ones.
This isn't financial advice, I just want to make sure people on this sub have the knowledge to not make fools of themselves in casual conversation."
https://old.reddit.com/r/wallstreetb..._to_not_worry/
Re: GameStop (GME) stock price
yeah all that is fine Z - just as long as they haven't covered their shorts - THAT - is the million dollar point and one that no one CAN answer as that data doesn't come out until the 9th of Feb I believe. As I've sure you've seen your self there are widely ranging opinions on this that go from they're in deep at 140% shorts right down to they've covered the lot and this is just a done deal and everyone should leave the party. Truthful answer is that NO ONE ( except the hedge funds) know the TRUE answer.
My guess is that the hedge funds have managed to cover a hell of a lot as the retail percentage stock ownership isn't actually that high to begin with - again some would like you to believe "we own the lot!" - we don't, we're lucky if it's even 30% of the stock - the rest is owned.....you guessed it, by other hedge funds.
So to me it seems quite logical that they would all help each other out at this time their industry was under attack and even if it cost them all tens of millions they'd band tougether to see this thing off and finished - and may a lot of money on taking NEW short positions on the new money that new retail traders are still throwing at this.
BUT I could be totally wrong as hedge funds are well known cheaters, liars and scammers and then LIE !! and so the higher percentage of non covered shorts could well be a thing, only time ( and may a long time ) will show that as Wall Street can stretch this game out and play it for much longer than the average 20 year old kid who's dumped his first wage cheque into this perhaps but needs that money back at some point soon.
So, for me I'm looking at this as nothing more than a fun game of poker and playing to see who blinks first and who's either bluffing of has the lower hand and if if means me "holding" and blowing the last of my pot in this trade to "see" them in a few weeks time then so be it, thats all part of the fun I guess and we'll see will I wipe out the rest of my pot OR if the Reddit guys were right all along that it starts to rise and we make a little money - my best guess for now is the first route there by the way about an empty pot as to me that seems the most likely and logical outcome here - BUT - that's not when I "gambled" in the first place - so, we'll see ! :-)
Re: GameStop (GME) stock price
Yes.
If it turns out thy have already covered all or most of the shorts,then they are now only hoovering up more money. But as you say if they have not covered,then all this fluctuation of share price is a ploy, and they are still trapped,and everything in my last post will play out in your favour. The plot thickens...lol
Re: GameStop (GME) stock price
Learnings (as Borat would say):
1 Never short anything with a high percentage of shares shorted. Although I rarely short anyway.
2 Ignore all this hype and carry on looking for stocks I'm happy to hold for 10 years or more. There is less competition when trying to get rich slowly, as people have short attention spans these days.
Re: GameStop (GME) stock price
Sorry to say Nirish, I think it's over. Had RH not been the main platform for the retail buyers it would have been a different story, but once the HF were able to control/ stop the buyers the "die was cast", now its just a mopping up process.
WBS was also overrun with BOTS and their memes rockets ,diamonds etc making it impossible to believe anything,where once serious strategies were discussed,and valuable insights explained.
C'est la vie.
Re: GameStop (GME) stock price
Yes i think you're probably correct about all of that - mind you I'm so stupid / stubborn ( take your pick) I've literally just went on and bought another 30 shares ! ( what was someone saying on another thread earlier about a fool and their money being easily parted !?) :-)
But whilst that may seem crazy just now ( and most probably will turn out to be very soon as it nosedives) there is some ( very questionable) logic in my thinking ....
So after me originally buying it late and high i.e 40 @ $338 i.e a $13520 total cost or so, unless something miraculous happens the chances of it getting back anywhere even close to that figure again is slim to NEVER happening and not a bloody chance I'd say just now.
So my "loss" if selling now at $66 would be around $10800, but by buying another 30 shares I am of course lowering my average share cost price and whilst if selling now at $66 my losses would increase by $300 dollars or so to $11080 IF !!! there's ANY increase my losses will then reduce pro-rata of course and |F (notice there's a lot of IF's here eh :)) but if somehow ( perhaps on the 9th of Feb?) we somehow sneak back up a bit, say even to around say the $120 mark again - as thats certainly more realistic than my previous $338, then if I sold that would reduce my overall loss to around the $7300 mark i.e about £5k sterling - which whilst it's still a bit shit isn't the end off the world thankfully.
IF ( there's that if again) but just IF it ever goes up more than that ( perhaps after several months and after their new CEO being in place and maybe doing something miraculous with the company (as I'll just hold these now for a while I think) well any other rise there would of course help to reduce that loss even further ( he said not quite believing it himself but you never know ! :-)
Oh and of course if it all turned out to the lie that people thought re the funds not covering yet ( ha they SO have !) then this time next month I might be bathing in champagne and booking my yacht after all lol ( don't worry I don't ACTUALLY think that ever happening anymore but hey some people believe in God and to me that's even crazier so you just never know !!! :)
Re: GameStop (GME) stock price
Stranger things have happened I guess. Clearly money is no object ..to you! Lol .
In any event best of luck.
Re: GameStop (GME) stock price
Quote:
Originally Posted by
Zebedee
Clearly money is no object ..to you! Lol ..
I ONLY that were the case !!!!!
Re: GameStop (GME) stock price
a nirish and his money...sad to say..are soon parted
Re: GameStop (GME) stock price
Quote:
Originally Posted by
latintopxxx
a nirish and his money...sad to say..are soon parted
But at least he has money to part with... :)