the guy literally went from nothing to a net worth of over 10 billions at the age of 45 or so today, not sure mocking him is a very smart move ...
yea totally amazing what is happening !
and we are back 240$ lol
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GameStop (GME) short squeeze fireworks
- Thread starter Gediminas
- Start date
and we are back 240$ lol
Have you noticed that there is also no media following Game this time round? Bloomberg - nothing, Yahoo - nothing.
It’s like they want it all to disappear!!
Yeah, interrrdasting. We are the thorn in their side, let's make the hedgies cry again!
you bet, the wallstreetbets subreddit went from below 1M to almost 10M now with the global coverage ahah
we have way too many people now to buy and hold and f**k the hedge fund short sellers in the a*s, and they are still shorting the stock like crazy costing them billions
the star of this show actually double down at 40$ after the congressional hearing when he answer yes to the question "would you buy at this current price?"
another motherfucking legend ahah
btw this is with a total of 60k usd initial investment if I am not mistaken.
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GME, Doge, Supreme: How Getting Rich Went Full Internet | Wealthsimple
The idea has always been that value — in stocks, art, precious metals, whatever — is inextricably tied to “fundamentals.” But it seems the internet changed that (hello, GME and Dogecoin!). Felix Salmon explains that if you want to understand finance now, you’d be better off studying Supreme than...
I am not a boomer but I sure feel like one...
DOGE? it only seems to move up untill Musk tweets somethingGME, Doge, Supreme: How Getting Rich Went Full Internet | Wealthsimple
The idea has always been that value — in stocks, art, precious metals, whatever — is inextricably tied to “fundamentals.” But it seems the internet changed that (hello, GME and Dogecoin!). Felix Salmon explains that if you want to understand finance now, you’d be better off studying Supreme than...www.wealthsimple.com
I am not a boomer but I sure feel like one...
This reminds me of what Bitcoin was a few years ago when the Chinese miners dumped their coins and it dropped to $800. Only when the product became really scarce did it shoot towards the moon and today we are looking at $60,000. Nobody is forcing anybody to pay this price for the coin but it´s value is there for everybody to see. Who is to say it won´t pass $100,000 before the end of this year.
A similar logic can be applied to the $GME stock. This rare commodity has global attention and hype to support incredible volatility in price. The fact is that nobody expected this to turn around as it was projected to become another bankrupt company where all the short sellers would walk away with the profits. The difference here is the short sellers have no way of buying back real stock since there isn´t enough to go around and like Bitcoin it´s value can only go one way. Sooner or later the price will reach highs most of us could only dream of. There is ample evidence to support what will happen but there are also many players which will fight and drag it out to the very end. Hence why we see every dirty trick used to convince owners to dump this stock.
A similar logic can be applied to the $GME stock. This rare commodity has global attention and hype to support incredible volatility in price. The fact is that nobody expected this to turn around as it was projected to become another bankrupt company where all the short sellers would walk away with the profits. The difference here is the short sellers have no way of buying back real stock since there isn´t enough to go around and like Bitcoin it´s value can only go one way. Sooner or later the price will reach highs most of us could only dream of. There is ample evidence to support what will happen but there are also many players which will fight and drag it out to the very end. Hence why we see every dirty trick used to convince owners to dump this stock.
Apart from the world's largest asset manager BlackRock Inc (invested 2017 and held), Chewy co-founder Ryan Cohen (2020) and "Big Short" Michael Burry (2019)?
You are correct! A few whales knew this could turn around if the cards were played right. Don´t forget the media wasn´t really helping here and of course the short sellers were going to milk it to the very end. In other words bankrupt the company so they never had to buy back the stock they borrowed.
Now that we have come to a turning point where there is so little stock available that very little volume in transactions can make the price jump all over the place. The moment of truth is when the short sellers borrowed stock has to be bought back. This will be like a train wreck in slow motion. The chips will fall one after another and nothing can stop it.
Some say this is a casino, I think this is more like shooting fish in a barrel.
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