GameStop (GME) stock price

[Nirish guy]

You are not in the same situation as many of the redditors..

Ha don't you believe it as £100 or $150k would have been a very nice addition to funds to accommodate exactly those trips ! But as you say thankfully it'll not be reduced to beans on toast for the rest of the year "just" yet - mind you a few more investments ( gambles ) like that and who knows Thank fully as I'd said I'd literally made around £7k the day before on another trade so it doesn't really feel like "lost money" more just an annoyance of not "making money" - but as I also said that's all very well until it comes to those shopping trips and that's where reality kicks in - who know perhaps all those geeks and weirdo gamer types on Reddit will go out and buy games at GameStop and their ACTUAL stock will increase and likewise their new CEO does actually have a good track record of turning businesses round so things may just improve a bit anyway. For some reason I seem to be in a glass half full mood today so I'll go with that for now. :-)

* I see that the drop in price actually triggered the SECs alarm mechanism which means that from tomorrow the traders wont be able to short the stock as they have been doing, meaning anyone buying has a clearer picture and a better run at lifting it a bit so "if" there is any uplift that could well be a help to people for that, who knows eh.

But I'll let it all sit as these things usually have a way of sorting themselves out - they say the Lord looks after his own" so I'm sure with my clean living Christian outlook on life I'll be fine ! lol ( Ha or perhaps I SHOULD sell actually if thats the case more like :-)

[Zebedee]

No point selling now. You may as well see it through at this stage...and pray. you might be going shopping yet!



whooo. Not quite a rocket more of a fireworks now. check the trajectory now!!! $137!

[Nirish guy]

No point selling now. You may as well see it through at this stage...!

Exactly .....oh and yes thats an interesting wee lift ......it's peaked my interest again :-)

Anyway either way it's just a matter of cutting ones cloth to suit ....so I've just called my yacht broker and amended my pre-sale purchase instructions to take me from this.....supery.jpg to THIS......supery2.jpg

So, that should just about level out the loss :-)

[Zebedee]

Hard to say if its profit taking or the HFs are still controlling the buys.

Ive had enough for one night.

[cdnmatt]

So at the end of the day, basically just a big pump and dump that went viral?

[Zebedee]

No not at all. Whats happening with the share price falling is manipulation by RH APP. They have choked / stopped investors buying. This is unprecedented. On a level playing field the hedge funds would have suffered.
RH has been ( compensated !!! ) to do this,and will probably lose in the many court cases lodged against them. But they don't care,it's better for them to get the big money and take a chance in the courts than the certain huge financial losses if buyers are permitted to trade.

The share price is still about 20 times the price it was about 12 months ago...

Pump and dump by comparison is just bullshitting potential buyers.

[Nirish guy]

So at the end of the day, basically just a big pump and dump that went viral?

No, I know you'd love it to be so that could do the "I told you so" dance :-) ( as remember I said I thought that too at the start) - but honestly I don't think "in general" it was - I think there was a massive shorting issue ( not i think that's just a fact that no one actually disputes ) - the issue was always more as to whether the traders had managed to cover their their asses in time or not before the Reddit guys piled in to try to screw them,

The big lift in price ( up from say $20 to nearly $500) may well have in fact been them actually trying to do so.

So as much as "I told you so" might be nice to say sometimes, it wasn't actually a simple pump and dump in the true sense that we all know it - quote the opposite in fact as the market fought like a bitch to keep the price DOWN not up - although it may well end up more of a mini pump and dump perhaps over the next week or two trying to entice new people and new money in perhaps - although IF the shorts hadn't covered if that happens that could cost them dear too ?!

[Zebedee]

Well if it does actually soar in price, to say $1000 or more a share, then if some people start "pumping" it up further, that is to be expected. At that stage its up to every small investor to decide for themselves whether to sell or not. It was always going to come to that. At the end of the day people are trying to make money regardless about some saying they want to teach the HF's a lesson....that.. I'd take with a grain of salt.

[goji]

At that stage its up to every small investor to decide for themselves whether to sell or not.

This is more like speculation than investing. I'd imagine by the stock price is at least 10 times what the underlying business is worth, but it's not worth my while to investigate, since I like to protect the downside.

It's slightly surprising to see this thread get so much attention, when I would have thought more members would have been interested in steady investments.

[gerefan2]

It's slightly surprising to see this thread get so much attention, when I would have thought more members would have been interested in steady investments.

Time may not be on their side!