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GameStop stock

Discussion in 'Bad Dog Cafe' started by uriah1, Jan 27, 2021.

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  1. boris bubbanov

    boris bubbanov Tele Axpert Ad Free Member

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    We got no time for this.

    What I am afraid is, when Gamestop and AMC take that nosedive, it is gonna take the whole market down or better said, the two will go together. Then, who will be smiling?
     
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  2. Tuneup

    Tuneup Tele-Holic

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    One of the quickest ways to get people to hate you, is to be successful when they are not.

    Now there's talk of doing the same to American Airlines and silver.
     
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  3. Tuneup

    Tuneup Tele-Holic

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    It seems to me there is always a way to make money, whether it's going up or down.

    AMC is walking dead, I don't think that many people are going to go to movies any longer and as far as game stop most games are downloaded now aren't they? All mine are (but they PC)
     
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  4. ale.istotle

    ale.istotle Tele-Holic Silver Supporter

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    The crazy part with this story is there are more short positions than there are shares and theoretically no upper limit to the price while that is still true.
    Eventually the short sellers have to buy shares to settle their short positions but there are not enough so they will have to pay premium.
    Enough people know that that they are holding their positions until the big hedge funds move. Even the funds are waiting each other out like a big game of chicken.
    I don't know what happens once the dam breaks. I guess the first ones to start settling their short positions pay a ton and lock in their losses, then eventually the shorts are less than the number of shares and the bubble bursts.
     
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  5. bgmacaw

    bgmacaw Poster Extraordinaire

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    It's not about the value of the companies but how the stock in these companies can be manipulated to make a profit. Hedge funds have been doing this for decades but boy are they PO'ed that ordinary people beat them at their game.
     
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  6. archtop_fjk

    archtop_fjk Tele-Holic

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    Sell your GameStop stock and buy some guitars! That’s real economic stimulus. :D
     
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  7. sloppychops

    sloppychops Tele-Holic

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    Meanwhile, Apple has a blowout earnings report and is down.
     
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  8. imwjl

    imwjl Poster Extraordinaire

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    In the early Internet for everyone and .com to .bomb days I leveraged my tech skills and certifications for fun work, worked at a startup, and did research for two investors. One of the investors used to be one of those 1990s - early 2000s CNBC Squawk Box guests. The latter and investor in the startup I worked for both did gun to head. In all that I learned to find some investments that did make sense.

    A few younger work associates who've mentioned Robinhood and stocks got me thinking about those earlier days. They've bought slices of companies that went up but in asking questions I learned they don't really understand the companies and financials.

    What's crazy about investing to me now - my age - is looking where we are relative to our cohort. The seeing people you grew up with who have scary little, and people who have crazy much. I hope I'm teaching my kids my aim low theory for work and investing - stuff you can really understand, reasonably accomplish, and stuff that's reasonably hands on. Aim more for beating averages and medians than the top.
     
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  9. ale.istotle

    ale.istotle Tele-Holic Silver Supporter

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    I just watched it go from $369 to $417 in 3 min.
     
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  10. bgmacaw

    bgmacaw Poster Extraordinaire

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    Looking good Billy Ray

     
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  11. imwjl

    imwjl Poster Extraordinaire

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    Look at it (AAPL) in a past few days, one and few year slices. That has me thinking there's some profit taking going on. IIRC, today's 1.1 - 1.4 % down is still less than yesterday's or recent ups. In the Game Stop or subject here, it's a quality investment. It's still a cash rich, reasonable P/E for tech, has dividend and growing business company.

    I've been trying to balance my IRA move so am kind of mad I didn't get more AAPL and MSFT because I certainly know and understand their business more than many text book suggestions for a good portfolio. Being in my 60s is cold reality for not being too speculative.
     
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  12. john_cribbin

    john_cribbin Tele-Afflicted

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    Unfortunately, due to the publicity, people who know jack all about the stock market will pile in thinking they are on a magic carpet ride to wealth.

    When they haven't got out when the bubble bursts, well you know the rest.
     
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  13. Preacher

    Preacher Friend of Leo's

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    I am not a stock market expert but someone has been leveraging that stock since June of 2020. Looking at the history someone over a three day span multiple times before this whole affair caught fire leveraged this stock. The stock was trading mid $4.28, someone then came in and bought 10M shares at that price. The next day the stock shoots up to $5 and there was a sell off 8M shares of stock. The day after that there was a 10M share sell off at $4.78 which if the original person started this increase would net them a cool $5M in profits on their initial 10 million shares bought.
    The stock then wavered around some in that mid $4 range until August when another 10M shares were traded twice. This time it was a gradual change and not over three days that there were significant changes to the stock price until the end of August when there were over 30M shares traded at $5.77. The next day there was a large sell off of 23M shares at $7.30 and the day after that a 13M share sell off at $7.80.
    I think someone found a honey hole and was making some money trading those stock from June until the first of September when others must have noticed as then you see a ton of movement and shares being sold and the numbers just keep getting crazier and crazier.

    In June the shares were trading at $4.28, today they are up to $353.00!
     
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  14. imwjl

    imwjl Poster Extraordinaire

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    See my post on not going with the temptation to buy more of a few stocks I already own. I've realized cash, fixed income and two international ETFs have softened the blow on bad days.

    I was doing some combo homework and teaching with my kids and got less worried about the stock market than where average and median USA citizens' assets are.
     
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  15. ale.istotle

    ale.istotle Tele-Holic Silver Supporter

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    Maybe the bubble is bursting. Opened 265. High of 483. down to 237 with trading halted. Glad I don't gamble on this kind of stuff.
     
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  16. Tuneup

    Tuneup Tele-Holic

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    I wouldn't have invested in either company is what I am saying, they aren't any good long term, and that is how I invest.

    For "gambling" (playing shorts, bitcoin, Vegas) I have a separate pool of money.
     
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  17. BuckSatan

    BuckSatan Tele-Meister

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    Corruption for me, not for thee.
     
  18. Pualee

    Pualee Tele-Holic

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    And the latest PS and XBOX were purchased online only this holiday season. Some models don't even ship with a way to read physical media. Gamestop is done - they have nothing to sell with the latest generation of consoles. Their 'used' game market was often priced above a packaged new game at walmart. Games on old systems are ported to new systems - no market for 'vintage' games.

    The shakeup on wall street is just entertainment for people like me, who have no desire to play the day trading game.
     
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  19. cnlbb

    cnlbb Tele-Afflicted

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    By the time most people heard about this it was too late for them. Unfortunately they're being taken for a ride. Some rich people god screwed, cool. But some other people are going to become new rich people off the backs of suckers. There ain't no good guys here just imaginary money trading hands.
     
  20. bgmacaw

    bgmacaw Poster Extraordinaire

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    I do the same although it was fun to see "The Dukes" beaten at their own game this time around.
     
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