Destino Posted January 28, 2021 Share Posted January 28, 2021 25 minutes ago, stevemcqueen1 said: Why were these hedge funds behaving so irrationally in the way they shorted GME? They were trying to destroy the company? Personal vendetta? They found a dying company, with a dying business model, whose death has been accelerated by a pandemic. Im not sure shorting it was irrational, just perhaps overly aggressive. They thought they could hammer them and probably rely on their minions in financial media to help them do it. Link to comment Share on other sites More sharing options...
The Evil Genius Posted January 28, 2021 Share Posted January 28, 2021 Just now, skinsfan_1215 said: It was a reasonable short position... gotta imagine Gamestop doesn’t exist in 2 years. They didn’t and couldn’t have counted on a virtual army of day traders conspiring to drive the price up. They'd have existed in 2 yrs likely due to their deal with Microsoft. And they have been rightly closing stores and scaling back new inventory. That said, they are a declining business and while I am happy to see the short sellers get ****ed on this one, it was probably a logical bet. Link to comment Share on other sites More sharing options...
Destino Posted January 28, 2021 Share Posted January 28, 2021 20 minutes ago, PF Chang said: I bought 195 shares of Gamestop at $88.25 and sold them at $109.31, in the process learning it's possible to feel sick about making $4,000. I bought 598 shares of Express at $3.32 and sold 300 of them at $11.25. I am in on Blackberry and Nokia and regret that I didn't invest in a chain of movie theaters during a pandemic. If there are any other companies from the 2000s I can invest in please let me know. I feel like the meme of a dog staring at a PC monitor saying I have no idea what I'm doing. But I'm having a great time!! This has made me wish I still had my old day trading accounts. I’d have gotten in on that blockbuster liquidation penny stock too. Not for long, just a quick dip. But I married an accountant that demands I be sensible and think long term. Where’s the adventure in that? Link to comment Share on other sites More sharing options...
PF Chang Posted January 28, 2021 Share Posted January 28, 2021 5 minutes ago, The Evil Genius said: Aren't you paying short term cap gains tax on that 4k, PF? So depending on your tax bracket, it could be as low as 2.5k? Yeah it will be STCG so ordinary income. Same with the Express sale. 1 minute ago, Destino said: This has made me wish I still had my old day trading accounts. I’d have gotten in on that blockbuster liquidation penny stock too. Not for long, just a quick dip. But I married an accountant that demands I be sensible and think long term. Where’s the adventure in that? I actually am an accountant temporarily acting like a day trader. Until this week I had never invested in anything but index funds. This is a whole lot more fun but the sooner it ends, the better... I was doing work past midnight last night because I mostly spent 9-5 refreshing tabs of stock prices. 1 Link to comment Share on other sites More sharing options...
Going Commando Posted January 28, 2021 Share Posted January 28, 2021 38 minutes ago, skinsfan_1215 said: It was a reasonable short position... gotta imagine Gamestop doesn’t exist in 2 years. They didn’t and couldn’t have counted on a virtual army of day traders conspiring to drive the price up. Yeah but 140% of the company's total shares were sold short prior to the squeeze? That doesn't make any sense. I don't even understand how that is possible or legal. That level of shorting seems coordinated and malevolent. Link to comment Share on other sites More sharing options...
Captain Wiggles Posted January 28, 2021 Share Posted January 28, 2021 14 Link to comment Share on other sites More sharing options...
Barry.Randolphe Posted January 28, 2021 Share Posted January 28, 2021 I get the feeling things are going to explode again tomorrow after reading reddit....so many people are pumping GME and AMC, the opening should be interesting 1 Link to comment Share on other sites More sharing options...
Commander -JB- Posted January 28, 2021 Share Posted January 28, 2021 GME @ 449 after hours this **** is legendary 🤯😆 Link to comment Share on other sites More sharing options...
Llevron Posted January 28, 2021 Share Posted January 28, 2021 9 minutes ago, -JB- said: GME @ 449 after hours this **** is legendary 🤯😆 Its ****ing nuts to think I should have "gotten in" at 150 lol 2 Link to comment Share on other sites More sharing options...
Spaceman Spiff Posted January 28, 2021 Share Posted January 28, 2021 23 minutes ago, Llevron said: Its ****ing nuts to think I should have "gotten in" at 150 lol I know, I'm kinda pissed at myself. I'm hoping buying in AMC at 16 yesterday wasn't a waste. 1 Link to comment Share on other sites More sharing options...
redskins59 Posted January 28, 2021 Share Posted January 28, 2021 This will be interesting, but I bet the stock price just collapses one day. You will see peoppe crying. 1 Link to comment Share on other sites More sharing options...
Jabbyrwock Posted January 28, 2021 Share Posted January 28, 2021 3 minutes ago, redskins59 said: This will be interesting, but I bet the stock price just collapses one day. You will see peoppe crying. Might as well head to a casino and play slots at this point. Link to comment Share on other sites More sharing options...
No Excuses Posted January 28, 2021 Author Share Posted January 28, 2021 (edited) 15 minutes ago, redskins59 said: This will be interesting, but I bet the stock price just collapses one day. You will see peoppe crying. The casino rule of don’t gamble what you can’t afford to lose is in play here. I will sell enough GME today to cover my initial buy in and will hold the rest till tomorrow probably. Edited January 28, 2021 by No Excuses 1 Link to comment Share on other sites More sharing options...
redskins59 Posted January 28, 2021 Share Posted January 28, 2021 Just now, No Excuses said: The casino rule of don’t gamble what you can’t afford to lose is in play here. I will sell enough GME today to cover my initial buy in and will hold the rest till tomorrow probably. Good idea. There will be people left holding the bag though. I was looking to see if there was a way to play the short game by buying puts. Say something like 40 or 50. Even those are super expensive. Incidentally, my mom has been holding Nokia for the last few years. It just shot up. It was due to this reddit site. Link to comment Share on other sites More sharing options...
redskins59 Posted January 28, 2021 Share Posted January 28, 2021 I don't know if Gamestop has thought of doing this, but to boost their balance sheet, they should seriously consider selling shares. They could easily raise a billion. Link to comment Share on other sites More sharing options...
Commander -JB- Posted January 28, 2021 Share Posted January 28, 2021 GME no longer supported on RobinHood. Link to comment Share on other sites More sharing options...
Llevron Posted January 28, 2021 Share Posted January 28, 2021 51 minutes ago, Spaceman Spiff said: I know, I'm kinda pissed at myself. I'm hoping buying in AMC at 16 yesterday wasn't a waste. I think its best to consider this a gamble and accept your losses if you see them. Its all random at this point. We can easily get screwed by simple things. 5 minutes ago, -JB- said: GME no longer supported on RobinHood. Like this. This is something that will make me sell at the high point today at least to get my initial money back. This will make it drop. Its already dropped 3 bucks since I woke up this morning......not that that means anything lol Link to comment Share on other sites More sharing options...
Llevron Posted January 28, 2021 Share Posted January 28, 2021 Also AMC said its going to convert 44 million of its shares into cash to cover 600 mil in debt. Im not sure what that means for me right now, but it does tell me that if im left holding the bag for whatever reason that I can have a little more faith in the long term investment. Which is what I got it for in the first place. I have lost faith that this thing will ever reach Gamestop levels of bull****tery but thats fine. I guess. Link to comment Share on other sites More sharing options...
BatteredFanSyndrome Posted January 28, 2021 Share Posted January 28, 2021 Robinhood won't let you buy AMC any longer. How is this legal? Link to comment Share on other sites More sharing options...
dfitzo53 Posted January 28, 2021 Share Posted January 28, 2021 There is some deep irony in a site called Robinhood locking common folk out of messing with rich people's money. 4 1 Link to comment Share on other sites More sharing options...
EmirOfShmo Posted January 28, 2021 Share Posted January 28, 2021 The number of NOK shares traded yesterday is absolutely insane Link to comment Share on other sites More sharing options...
daveakl Posted January 28, 2021 Share Posted January 28, 2021 So is Dogecoin a thing today? I want to get in early on one of these "easy money" things. lol 3 Link to comment Share on other sites More sharing options...
ixcuincle Posted January 28, 2021 Share Posted January 28, 2021 1 Link to comment Share on other sites More sharing options...
RichmondRedskin88 Posted January 28, 2021 Share Posted January 28, 2021 Time for all us to get rich af. Game faces people! All hands on deck for stock watch! 1 1 Link to comment Share on other sites More sharing options...
LD0506 Posted January 28, 2021 Share Posted January 28, 2021 Uggghhh This **** is like trying to read poetry in Sanskrit.................. Link to comment Share on other sites More sharing options...
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