I have heard that some people are really happy about this and want Gamestop to die or something. I don't know if that will actually happen and I don't really care that much either. If I want to see any business tank it's Twitter but I'm sure plenty of people will be all too eager to tell me that that will never happen.

>>68
Even after (if?) the bubble pops gamestop will still probably be higher than it was before everything.

I heard about this and got 30 shares of GME at about $30, then sold them at $100. I'm not even upset I sold too soon, I think the whole situation is hilarious. Meanwhile I've been sitting on some AMC stock (250 shares) for a good long while now that I got around $3. Bought a few more recently. I'm not expecting to get rich off this, but it's amusing never the less. What is a bit concerning is that most of my other stocks have been in the red because of this. I assume people are pulling out of those to put everything into these "meme" stocks.
I actually think it's pretty neat, since it seems like this is putting money into the pockets of a lot of lower class people. Far as I can tell it's mostly just the suits who are hurting here.

>>70
It's funnier than that: The institutional investors are doubling down on shorting GME since they can't stomach the losses they'd incur otherwise and now have to close their positions in other companies to pay interest for the shorts.

>>70
>I assume people are pulling out of those to put everything into these "meme" stocks. I actually think it's pretty neat, since it seems like this is putting money into the pockets of a lot of lower class people. Far as I can tell it's mostly just the suits who are hurting here.

That's what big money does, as soon as they see something with momentum they jump on it, that's a large part of what is driving the price.. Many little people are making money but so are many rich people. However the rich generally have a better idea on when to sell.

>>72
Yes I think that's a large part of what's driving it. It's not entirely the small guys (although they were the initial movers). Remember that apps like Robinhood sell order flow data to large hedgefunds, so they already know where the market is going and can take action accordingly.

>>71
>now have to close their positions
On a long enough time-scale, there are other options they could take. They could declare bankruptcy, or somehow convince GME to issue more shares (diluting stock?). The only reason they'd be forced to close out their shares is if the broker wants the shares back or if the broker thinks the stock isn't going back down and they want the underlying asset back. But since it's ultimately only at the discretion of the broker that they have to close their position, I'm sure that the suits and ties will meet up in some clubroom and work out a deal. If the shorts don't have to pay interest, for instance, they can hold indefinitely without incurring any losses. And then it's a question of who's willing to hold out longer.

Oh apparently just implemented was another strategy I didn't foresee: they convince Robinhood to place restrictions preventing people from buying the stocks. I don't know if something like this has happened before, but it essentially guarantees a price dip (if people can only sell, then the price goes down). So apparently overshorting and placing stock restrictions isn't deemed "market manipulation."

Post edited on 28th Jan 2021, 12:30pm

GME went from $325 to $225 today as news feeds kept trying to convince everyone that it was all over and that reddit was moving on to silver. Far as I could tell, most people weren't falling for it. I don't like to use reddit, but a quick glance at wallstreet bets shows this silver diversion is a load of bs. The less informed people are probably the ones selling and driving the price down, but from what I've seen there are people with millions on the line that are still holding.

>>77
Short squeezes have happened before and this is what the last big one looked like.
It's going to be a repeat of that as the big boys use every trick they can to try and twist free of the hook. You've seen it already: Media and shilling are in full force everywhere and they're having the most popular brokers hinder buying so they can bounce a handful of stocks between themselves at progressively lower prices.

>>77
>silver diversion
I see people trying to convince others to buy some $HOT_NEW stock (AMC, BB, NOK). People are taking advantage of this situation to try their own pump and dumps.

>>77
It has nothing to do with that at all. Big money came in when they saw an opportunity, now big money is starting to leave.

>>80
If that's the case, that means this is only just getting started.

>>81
Kind of but not really. Many large investors love volatility. So while money is leaving now that the price has lowered investors will jump on that because they know how volatile it is and that they can buy in the morning and sell by the end of the day to make millions. So it's going to jump again but I would say it is overall on a downward trajectory now.

Well that was an anticlimactic drop

>>83
There are already news reports of people killing themselves over this.

Seems after a lot of silence, Gamestop is now making a move and decided to sell a bunch of these now inflated stocks to fund a transformation of their business model to a more digital focused one.