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GameStop stock

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

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  1. PastorJay

    PastorJay Friend of Leo's

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    Was this really just a variation on "Pump and Dump," which is illegal under Federal Securities law?
     
  2. PingGuo

    PingGuo Tele-Afflicted Silver Supporter

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  3. cenz

    cenz Tele-Meister

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    The lesson here is don’t F with Redditors or 4chan. It never works out good.
     
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  4. Whatizitman

    Whatizitman Friend of Leo's

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    What really is the worst thing that can happen? The HFs will probably get bailed out somehow, by someone or something. The typical WSB redditor investor in on it initially bought in when shares just a few dollars. For many of them it's become a game to hold on to the bitter end. Not because of concern about loss. But about sticking it to the man. And they are emboldened after the shenanigans pulled yesterday by media and wall street to try to scare them off. They will not lose much money over it, and will more likely come out way ahead. OTOH, the ones buying this week at high share costs are most likely not buying tons of shares. More like buying 1 or 2 just to see be part of the game and see what happens.

    Media is trying to make the WSB out to be a bunch of uneducated noob investors. Not the case at all. They were the ones who exploited the opportunity. The vast majority of HF shorts are not well advertised for a reason. But it has made the HFs lazy and arrogant, thinking no one will game their shorts. These ones simply got caught with their pants, er, shorts, down.
     
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  5. Matt Sarad

    Matt Sarad Tele-Afflicted

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    My son made 2k on it yesterday.
     
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  6. scelestus

    scelestus Tele-Holic

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    Word in the subreddit that started all this is that based on the volume of trades, it looks like the bigwigs owning the shorts are manipulating. Robinhood has a big contract with one of the hedge funds and stopped purchases (but not sales) of GME. A bunch of other platforms have frozen the trades too. Based on volume the hedge funds might be trading back and forth at low prices to fool the computer algorithms into thinking there's a selloff happening and scare retail traders.

    Most of the Reddit bros seem to be holding.
     
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  7. bgmacaw

    bgmacaw Poster Extraordinaire

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    You gotta know when to hold 'em

     
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  8. john_cribbin

    john_cribbin Tele-Afflicted

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    [​IMG]
     
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  9. Toto'sDad

    Toto'sDad Telefied Ad Free Member

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    Having lived on this earth for a good long time, I've seen stock, and commodity people light a cornfield on fire, and watched the populace run to get in on the popcorn lots, and lots of times. The one's last to the train station get hurt the worst. I quit the market in 2007. I watched it peak, and then it had a one day correction and dropped a bunch in one day. I said to myself, self if this comes back, lets get out. It did, and I knew I'd better grab what I had left and put it in my poke. I even got out of the market portion of my 401k, even though I had to pay about a grand to do it quickly. I bailed, and within a few days, the market went plop. The people who told me that I was crazy for bailing said; How did you know? I didn't know, I just had a feeling but man am I glad I bailed when I did.
     
    Last edited: Jan 28, 2021
  10. jrblue

    jrblue Friend of Leo's

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    What? I misunderstood! I just went and bought $10,000 in games and junk at my local GameStop -- the one that's still open, not the other ones that are closed or closing. Time for GameStop execs to give each other billion dollar bonuses for fgreat management!!! And time fopr every crap failing outdated business to sneakily try to "pull a GameStop" by cashing in on their lousiness.
     
  11. scelestus

    scelestus Tele-Holic

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    Ha! Want to sell a game? Most valuable game on the market? Sure! Here's a coupon and a cigarette butt. Good luck getting that on craigslist without getting stabbed!

    In all seriousness, one interesting take is that if the price sits high enough, GameStop could maybe issue new shares at a high price to raise capital and try to find some saving grace.

    I think my favorite part of all this is that the retail investors are, by going against the short, staving off a hedge fund push for bankruptcy and maybe saving people's jobs.
     
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  12. SDFD18

    SDFD18 TDPRI Member

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    No truer words ever spoken. “Believe nothing to be your own,but to actually belong to others.”
     
  13. Toto'sDad

    Toto'sDad Telefied Ad Free Member

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    Hunches can be good, but they can be bad. Back when the Hunt brothers caused a run on silver that broke a bunch of people when it was over. A fellow I worked with who was the shop foreman at the yard I worked out of when I was hauling heavy equipment pulled all of his money from every source he had and bought silver. He bought when it was at about forty five bucks, it didn't quite hit forty nine when the bottom fell out. The guy had a heart episode, was trying to work with a heart monitor strapped to his chest, and his wife left him. He went from being pretty secure financially to broke like one of the those zero to sixty test of an automobile in Consumer Reports. It's sad to watch. Of course there are stories about guys getting rich too, so...
     
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  14. sloppychops

    sloppychops Tele-Holic

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    AAPL is by far my biggest holding, owning since 2007, and I added more shares yesterday and today at 142.50 and 138.25. If you're thinking of buying, I don't think you can go wrong with this stock.

    There is definitely some manipulation going on. One speculation I came across online is that money managers are selling off some of their Apple shares to cover losses on stocks they've been shorting (the ones run up recently by RobinHooders).

    And talk about manipulation... Look at Clorox (CLX). I took a small nibble on this at 198 a couple weeks ago and it's been zooming up and flopping back down every day lately. It wasn't just buyers getting in before the ex-div date, either.
     
  15. SDFD18

    SDFD18 TDPRI Member

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    Not necessarily true. Real estate is a very stable and great long term investment. The risks in real estate are calculated by the owner and not the big fish controlling a stock market.

    The more appropriate message you could have sent was that “accumulation of wealth” is the only way to get ahead. The stock market is NOT the only game in town.
     
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  16. Toto'sDad

    Toto'sDad Telefied Ad Free Member

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    There is only so much land, there's never going to be any more than there is right now. A good place to park your money.
     
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  17. buster poser

    buster poser Friend of Leo's Platinum Supporter

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    You know what this? It's the world's smallest violin, and it's playing "Just for the Vulture Fund Managers."

    [​IMG]
     
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  18. Charlodius

    Charlodius Tele-Holic

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    I could crash that stock instantly. All I have to do is buy some.
     
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  19. kLyon

    kLyon Tele-Holic

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    I think that the important takeaway is that the big bucks that came in late were from the vampiric hedge funds that were short the stock, covering their positions.
    I can't feel sorry for them: they - the hedge fund industry - add absolutely nothing to society, and to hear them cry foul when some normal people use their own tricks against them rings as true as a turd bell.
     
  20. deytookerjaabs

    deytookerjaabs Friend of Leo's

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    That's just it. This is a wake-up call for many of the folks on WSB and all over the world watching this play out.

    One week ago if you'd said to the traders "Hey, if we all buy this short stuff they'll pull the plug if it's successful" everyone would think you're some paranoid theorist. Because, technically, hive minds gaming the market is a huge part of the market already. It's perfectly acceptable.

    Then...once it caught on....

    Their chat server was suddenly shut down citing "Hate Speech."

    The Financial/Business Media all over has gone full ape**** calling for rules/regulations.

    Now the digital trading platforms everyone is using are halting purchases of the stock! Like all of them (I've checked personally, lol) You can't buy now, or if you do it's cause you found some other platform that's barely being used.


    All to protect one big hedge fund.


    On a tangent...this is why I don't buy Gibson guitars anymore as a huge fan of them for life. Can't support a giant baby that gets spoiled by Uncle Sam and his buddies. They don't play the same game, they don't have the same rules.
     
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