GameStop (GME) stock price

[goji]

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/

[Nirish guy]

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

[Zebedee]

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.

[goji]

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.

[Nirish guy]

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.