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The reddit Kool-Aid is mighty powerful.
WOW! it went UP $71.19 (+92.71%) today!
Michael Burry Calls GameStop Rally ‘Unnatural, Insane’
(Bloomberg) -- Michael Burry’s bullish stance on GameStop Corp. in 2019 helped lay the foundations for one of the biggest retail investor frenzies in recent memory. Now the famed fund manager is warning that GameStop’s manic rally has gotten out of hand.
https://finance.yahoo.com/news/michael-burry-calls-gamestop-rally-032530172.html
fuck yea it did and it's gonna keep going friday will be I N S A N E
I am sure the FED- SEC, will be looking into what's going on with this stock.
looking at their Financials there is no way in hell this stock is worth $148 dollars.
https://finance.yahoo.com/quote/GME/financials?p=GME
Experts 1y Target Est $12.39
That stock was trading under $5.00 until mid August, from August - December the highest it climbed was $20.15, them in one single month this January it went all the way to the moon! $147.98 American dollar not Zimbabwean dollar!
.. in 5 yrs history it never cross $32.80 it was its highest price until now!
It's shorted at ~130% which is incredibly high, the hedge funds will have to buy back the stock regardless of price.
There's really nothing illegal going on. The stock has been halted multiple times per standards, but that's about it.
If you bought low and made a good profit sell! sell! sell! this smell like a big time manipulation.
I did day trading.. and you can lose your shirt and shoes before you get up of your bed in the morning!
There is a saying "don't gamble your rent money, just the money you can afford to lose"
i could afford to lose everything i put in but im not selling yet
The reasons a Stock may go up significantly.
1- Good Quarterly Earning Report.
2- Got acquired or merge with another company.
3- Stock got upgrades by Analyst Firm (the last 2 for this stock was Downgrades)
4- Company developed a new product or is going to expand it operation.
I see none of this, which indicate stock manipulation!
Now if is a pharma company that found something promising,like a cure..... I can see it going to the moon before the market open up.
to the mooooon
GameStop Short-Sellers Reload Bets After $6 Billion Loss
https://www.yahoo.com/now/gamestop-short-sellers-reload-bearish-175645685.html
GME short interest still 139%, If I have not leave my job and back to college and only the tuition fee is left. I will all-in. But I cannot take any risk currently.
Btw, I can see you guys are zero knowledge in finance LOL, Search "short squeeze" if you want to know more. And "Gamma squeeze"
Everyone here talking about how it's so speculative, not based on fundamentals, blah blah, don't really know what they're talking about.
This ain't about GameStop's fundamentals.
This is about $GME fundamentals. With short interest at ~140%, this is a ponzi scheme that is ultimately backed by the short sellers.
Until the short interest falls to extremely low levels, this stock can go as high as the WSB guys want it to. There is no limit so long as there are short sellers.
Why? Because short sellers MUST buy. They sold short trying to make a buck, betting the stock will fall. Someone else is buying it and forcing the price up, forcing the short seller to buy back at a higher price.
Melvin Capital have pretty much wiped out their entire hedge fund. They were given a $2.7B bailout yesterday, allowing them to maintain their short position and not get forced to cover. Well with the stock up 100% yesterday and another 100% today, that $2.7B has gone.
Earlier this morning, before market open, Melvin Capital announced that they covered their short position. This does not seem to be reflected in the short interest, or the price. Most likely they were trying to manipulate the stock on the downside, and get a rush to the exit from the longs.
This trade is all about the fundamentals. And the fundamentals is that shorties are getting butt fucked, hard. No lube.
In the end, a handful of late comer longs will probably be left holding the bag. But by that point, a number of hedge funds will have gone completely bankrupt trying to save their position.
Here's the best thing. Anyone trading on the COMPANY'S fundamentals, will be looking at it and thinking what a great short. If they short it, they're just financing the next round of long's profits. This ends ONLY when the shorts have accepted that they lost. And lost big. They cannot recoup their losses.
I can help you apply for a visa and buy a flight ticket to these destinations:
My commission rates are the lowest in the industry.
update +$1200
gme everywhere
My brokerage app has not let me log in all day.
u probably to use trade 212 since ur a uk lad huh?
🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
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Ye. Just got on now.
gme 🚀🚀🚀🚀🚀🚀🚀🚀
amc🚀🚀
nok🚀
bb🚀🚀
pltr 🚀
This would be very funny if it happens.
Personally, I've always endorsed the proposal that there should be a 100% tax on all stocks not held for a minimum of 1 year.
listen andrew if u want to be a boomer that's fine but i'm too busy listening to money printer go brrrrr 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
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Boomers are your dopey elders.
I'm Gen X. We're your scary elders.
Man this is the most entertainment you can get in the stock market.
We're witnessing the collective power of millions of small retail traders bankrupt hedge funds that engage and profit in market manipulation.
If you're shorting a stock with 140% short interest, you've got to be a moron, and you deserve to lose all your money. After all, short selling is betting that the price will go down. For years, shorting GME has been like shooting fish in a barrel. The hedge funds got greedy and were betting on total collapse and bankruptcy. These greedy funds want to profit on the downfall of a company. A company that employees ordinary working people. And they got so greedy, they start selling other investors what they believe to be 'shit'. So much so that they start selling what doesn't even exist.
I love these WSB guys. They're doing a great service for the financial industry at large. Hedge funds will now think twice about excessive shorting. They may also think twice about going public with their short narrative.
Good luck to the GME longs! May the stonk reach $5K!
I seen movie about something like that called big short. Is the thing the same?
It's almost the opposite.
Too many short sellers piling in on what they believe to be bad stocks. And then those guys are getting squeezed.
not my image but I cba making my own
Just another day of brokers helping out hedgefunds.
If nobody can buy, how can you sell?
This is fucked up.