GameStop (GME) Hits over $150 a Share

Trying2SaveABuck on 27/01/2021 - 22:23
Last edited 30/01/2021 - 13:12 by 2 other users

Thought this might be interesting to talk about

Essentially the reddit group r/wallstreetbets has taken on some of the big fund managers

Anyone who is a international investor will know this is the biggest David v Goliath battle in ….well ever!

Literally one guy invested is up around the 22m (which hit 53m at the last opens high)

this is crazyyyyyyyyyyyy

Anyone got any thoughts?

Anyone else got rich from the madness?

For those who dont know this is essentially a dead company not to different to EB games here in Australia thats share price was $3 5 months ago and has rocketed to over $150 for pretty much no real reason other then a way for millennials to stick it to the rich pricks on wall street

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Comments

          • RMX on 30/01/2021 - 02:24
            +1

            @Ghost47: Stake being slow hasn't affected me too much tbh.

            I've had stop sell orders placed each day for as much as I wanted to offload if it dropped.

            Last night I put in a limit buy order for the dip and got what I needed.

            It's not ideal, but the volume going through every trade platform right now is incredible so some congestion is kinda expected.

            • Ghost47 on 30/01/2021 - 02:26
              +1

              @RMX: Yeah I didn't think it would have affected you if you were taking profits already. These past two days have been insane.

  • 7effect on 28/01/2021 - 23:16
    +3

    Once the dust is settled, i'm looking forward to watching Internet Historian's take on this. https://t.co/RmjGNIGId7?amp=1

    • Caped Baldy on 29/01/2021 - 10:45
      +1

      I love IH. He turned me into a believer for balloon boy's family.

  • [Deactivated] on 28/01/2021 - 23:44
    +3

    My god. It's $490 in premarket!

  • browser on 28/01/2021 - 23:55

    Is it because people keep buying it, and demand drove up the price?

    • [Deactivated] on 29/01/2021 - 00:53

      Quite possibly. A lot of publicity and the public getting on board the new mania.

      The Hollywood movie type hope is that Melvin Capital lied about closing out and they are forced to keep buying at absolutely insane prices. I want to believe this but I feel that Melvin would have to be already so bankrupt, why would they bother.

    • Skinnerr on 29/01/2021 - 03:23
      +1

      A good read on it - https://www.theverge.com/22251427/reddit-gamestop-stock-shor…

      • browser on 29/01/2021 - 09:53

        Thanks for the link, overall makes sense.

        Don't quite get this part though:

        The outfit that sold me the options is going to try to reduce the risk that my options will hurt them, and they will do this by buying stock in Company X. That makes the stock go up, and the further up the stock goes, the more stock my counterparty will have to buy.

        Don't they want to drive the price down so that you abundant the option and they take all the fees? Why would they want to drive the price up to help you make money? And who is the "counterpart"?

        • S2 on 29/01/2021 - 14:07
          +1

          This situation does sound backwards, but it is correct and correlates to what I read is occurring with the WSB community - they are buying the option also, not just the share.
          My attempt at explaining using the article example. The counterparty sells the option for you to buy shares in company X for $25 on March 1. The shares are currently priced at $10 today. If the shares go up to $55 on March 1, that means the counterparty would have to buy shares at $55 and sell to you for $25 - taking maximum loss on the option. To hedge against this, they start buying some shares before March 1, like at $10 today - so they have some shares at a lower cost to sell you if the price goes to $55. This buying by the counterparty will increase the price of the share.
          This is different to the short seller scenario, where the broker already has the shares and lends them out to be sold in the hope the share price falls further.

          • browser on 29/01/2021 - 14:22

            @S2: It's such a complex and delicate balance.

          • [Deactivated] on 30/01/2021 - 20:13
            +1

            @S2: Don't forget that one side of the transaction has the obligation to fulfil the option, but the counterparty has only an option, meaning they can choose not to exercise it and let the option expire.

    • AustriaBargain on 29/01/2021 - 18:42

      Either that, or Gamestop was just granted an exclusive license to sell heroin to the public.

  • fastnbulbous on 29/01/2021 - 02:01
    +6

    Trading seems to be halted or blocked (for buying) on a number of platforms. Sounds like some market manipulation to get more sell orders queued up.

    • Skinnerr on 29/01/2021 - 03:21
      +3

      The SEC is boutta get bombarded Blitz style with market manipulation complaints. They are largely a toothless tiger so will probly amount to a slap on the wrist cos they're all in bed together.

  • Skinnerr on 29/01/2021 - 03:18
    +5

    '08 Class Wars - A New Crash
    '21 Class Wars - The Zoomers Strike Back

    • BillyG687 on 29/01/2021 - 17:16
      +1

      Not sure if I'm ready for:

      '24 - The Return of the Hedge Funds

  • Telios on 29/01/2021 - 03:58
    +2

    Oh boy the ladder attacks and multiple trading halts in the same day.

    Funny how +/- volatility triggers a breaker but not super - drops.

    Can't believe that they couldn't identify the hedgers percentage ladder attacking and drown them legally if they wanted to.

  • ewanarmstrong77 on 29/01/2021 - 04:17

    Pretty bullshit my app Stake had servers down for an hour when my exit strategy was sell 470, where i could remove seed, 10k profit and let the rest ride. And now when their servers work im down 20k from that position. Well that was most of my uni fees paid off. Emphasis on Was.

    Any options for repurcussions

    • Skinnerr on 29/01/2021 - 05:13
      +5

      HODL

    • Skinnerr on 29/01/2021 - 05:55

      You're not alone tho m8 happened to other strayan investors, read more here - https://www.reddit.com/r/ASX_Bets/comments/l6emk3/while_i_sl…

    • Telios on 29/01/2021 - 12:00
      +3

      Dude the Stake twitter account was getting S-M-A-S-H-E-D with hate.

      Pretty ridiculous they didn't have an alternate API fail-over setup.

      So basically what happened was the company that gives them all the data via their API to fill the charts either "refused" or was "experiencing outages" and most smart brokers will have multiple sources for the data - that will fail-over and keep going. Apparently not so for Stake, this was different from all the other platforms that were deliberately screwing retail buyers over by cancelling orders or removing buying.

      This doesn't really address why everyone was getting white-screened or people getting orders cancelled or UNCANCELLABLE orders if they did get online.
      I suspect it was probably a tech decision on their part to let some people be able to actually use the platform instead of noone at all.

      Massively pissed off though because I had a pre-market order for another stock that I could not cancel (not GME/BB etc) that filled while I was clicking cancel multiple times.

  • whooah1979 on 29/01/2021 - 06:58
    +7

    That didn't last long. The big players can't manage their risk so they rig the game and cheat to win.
    https://youtu.be/fg6Yl_YxRQ4
    https://www.businessinsider.com/gamestop-stock-trading-robin…

    • Trying2SaveABuck on 29/01/2021 - 07:18
      +6

      System is so corrupt

    • gromit on 29/01/2021 - 12:22

      not really rigged. RH have legal funding requirements under the SEC rules, they had to stop trading till they could meet those funding requirements through some capital investment, trading set to resume tomorrow once the funding is all in place.

      • [Deactivated] on 30/01/2021 - 20:38
        +1

        None of that is true. It was that the DTCC (Depository Trust and Clearing Corporation - the centralised point where stocks and money are exchanged for all participants) has something called the Participant Fund. Essentially the way the Participant Fund works is it's a $1.13bn total fund across all participants which is used in the event that a broker goes bust and DTCC has to settle everything for them to ensure that the investors on the other side of the broker don't lose out. The share of the Participant Fund for each clearing broker is determined based on the Net Debit position of the broker- i.e. value Buy side trades they have with no corresponding Sell side trades. Since all the people buying GME were holding (let's face it, probably closer to HODLing at this point in the game) there was a net debit position, meaning Robinhood Clearing actually had to contribute to the PF.

        Now what this means is that Robinhood didn't have the capital to contribute to the PF, and even if this GME thing never happened, Robinhood would still have been screwed if people organically started buying and holding stocks rather than role playing day traders for $30 gains. Additionally, this is all based on their NET debit, across ALL stocks. So why was only GME, AMC, and other popular ones halted rather than ALL tickers? Because they wanted to scare the customers into SELLing their positions in these stocks, which Citadel Execution Services (part of Citadel Securities, part owner of Melvin Capital who held a massive short position) had the opportunity to front run on as Robinhood sells them order flow, and they knew most people would be scared and immediately liquidate all or most of their holdings which would flood the sell side and get them back to a level where they don't have to contribute.

        The $1bn injection they got was because they realised they were royally screwed if an event like that happened again, or worse - if their customers started value investing.

        As an aside, trading did not resume. They capped all retail accounts at 5 total GME stock - if the customer had more than that, they weren't allowed to buy more. If the customer has less, they can only buy up to 5. Blatant market manipulation.

  • whooah1979 on 29/01/2021 - 07:45
    -3

    The party looks to be dying down now that Robinhood has stopped its customers from buying.

    https://nimb.ws/lDbiM8

    Screenshot.png

    • Skinnerr on 29/01/2021 - 07:56
      +1

      It's called a dip, lurk more.

      • whooah1979 on 29/01/2021 - 08:16
        +2

        Buying the dip only works of there is a buy button. RobinHood has removed the buy button.

        https://www.businessinsider.com/gamestop-stock-trading-robin…

        • Skinnerr on 29/01/2021 - 08:30

          You're way behind m8, there are many more share trading apps in America than just RH. In the wsb threads I'm reading apparently devs are desperately making new apps to buy any remaining stocks.

          This is just starting. On Friday (Saturday here in Aus) is when SWHTF. They've blocked other trading apps too (while a few lesser known ones are still working) and now it's a game of cat and mouse.

    • [Deactivated] on 29/01/2021 - 09:59

      I'm a bit optimistic that all the manipulation last night means Melvin Capital hasn't closed out its position. Why would Citadel call in favours if they were out? They wouldn't care. But they do still care very much. :) Party over? Nah, tonight will be epic one way or another. After hours is up 50%.

  • highdealer on 29/01/2021 - 07:49

    Dogecoin is going to be the crypto version of GME and AMC. Get your before it go to Mars

    • whooah1979 on 29/01/2021 - 09:52

      Respect the pump.
      https://nimb.ws/6KfXka

      • lnq on 29/01/2021 - 15:14

        Too many here people are missing the train 😂

    • magster on 29/01/2021 - 15:14

      Up 900% in one day! It’s crazy to watch what’s happening, and I thought the 200% increase this morning was crazy. (I don’t own any)

      • whooah1979 on 29/01/2021 - 15:52

        People should always have a 🐕 🎒 in their wallet. One may never know when it may 💥 🚀.

  • Skinnerr on 29/01/2021 - 07:52
    +2

    Great intense debate w/ back and forth on cnbc from both sides I'm watching while havin a morning cuppa ☕.

    • Serapis on 29/01/2021 - 08:00
      +5

      CNBC had false news previously about Melvin, wouldn't trust anything they say.

      • Skinnerr on 29/01/2021 - 08:31

        Big media is ALL false on this because they all suck at the teat of Wall St. This Chamath Facebook bloke is smacking them down facts and logic. Its crony capitalism.

      • FullPrice on 29/01/2021 - 09:23

        CNBC only looking to protect the pension funds who invest with the hedge funds.

      • Telios on 29/01/2021 - 12:36

        Mmmmm we don't actually know if that's true though.

        Short lend %'s aren't updated daily or even weekly. The last figures from NASDAQ are from Jan 15th, and there should be an update either tomorrow or next week.

        It is very dangerous territory - https://www.nasdaqtrader.com/Trader.aspx?id=ShortIntPubSch

        I wouldn't be surprised if they've gotten close to below 100% after yesterdays shenanigans.

        • KeplersLaws on 29/01/2021 - 12:44
          +1

          GME is on the NYSE, not NASDAQ, isn't it?

          • Telios on 29/01/2021 - 13:02
            +1

            @KeplersLaws: Yup it is sorry. But they follow the same bi-monthly publishing schedule afaik and NASDAQ figures include GME.

            HOW OFTEN IS GAMESTOP'S SHORT INTEREST REPORTED?
            Short interest is typically published by a stock exchange once per month. However, NASDAQ publishes a report for U.S. stocks, including GME, twice per month. The most recent reporting period available is December, 31 2020.

            https://www.marketbeat.com/stocks/NYSE/GME/short-interest/

            That quote is actually out-of-date itself however, the latest data is January 15th I believe.

        • [Deactivated] on 30/01/2021 - 20:41
          +1

          Nobody gets the figures from the exchanges, they're too slow. They get info from sources like S3 Partners, who track the stock available to lend and on loan from prime brokers, which is pretty much the gold standard for tracking short interest. If a stock is on loan, it's shorted. If the stock is available to loan, it's not.

          • Telios on 31/01/2021 - 16:33

            @[Deactivated]: Yup I mentioned it in another comment.

            S3 and Ortex have updated their figures and its exactly what lots of us expected, the hedge funds have been closing positions during the downturns/stoppages.

            S3 now says - 113% shorted
            Ortex - 75%

            $10,000+ shares were never a reality, the movements on Tuesday/Wed were almost certainly to prevent that situation from occurring.

    • sauce2k on 29/01/2021 - 09:03

      Such a good watch for a Friday morning! Thanks for sharing

  • Bid Sniper on 29/01/2021 - 08:23
    +14

    WOW GME stock halted and price falls, dont know how this is legal, different rules for the rich

    https://www.abc.net.au/news/2021-01-29/gamestop-stock-price-…

    • quanticism on 29/01/2021 - 08:57
      +4

      Disgusting. They should pay the full price for their stupidity and greed for shorting more than 100% of the stock.

      • Bid Sniper on 29/01/2021 - 09:00
        +5

        Gets worse, those with options RH sold their options at lowest price and manipulated the price to crash. Citadel was able to trade during this time, bought stock direct cheap, and loaded up on calls.

        This is seriously illegal and class warfare

        • [Deactivated] on 29/01/2021 - 09:23
          +6

          It is ironic that Robin Hood is in cahoots with Ken Griffin a multibillionaire himself and head of a large hedge fund that had bailed out Melvin Capital wih $2 billion. Sheriff of Nottingham would be more appropriate.

          Anyhow, the NY Attorney General is now on the case due to complaints.

          • Bid Sniper on 29/01/2021 - 09:54
            +2

            @[Deactivated]: very true.

            doubt anything will happen, no one went to jail for GFC, different rules for billionaires

            This really pisses me off and lot of people

            Correction, Citidel loaded up on puts, they've shorted GME 250%!!!

        • [Deactivated] on 30/01/2021 - 20:46
          +3

          It was worse than that again - there were people who had Call and Put options at lower values ($50-$65) open to benefit from spread (decent profit potential, not as good as pure one way options but the loss is limited to the spread). Robinhood exercised their Put options at the $65 which put them into a short position which was forbidden for that stock, but because buys were disabled they didn't execute the Call options, but instead resolved the short position by buying the stocks at market ($420!), losing the investor tens of thousands of dollars. Now that IS illegal.

  • gee-man on 29/01/2021 - 08:27
    +3

    this is essentially a dead company not to different to EB games here in Australia

    GME is the parent company of EB Games / Zing, and a bunch of similar brands in Europe.

    So yeah, not too different at all.

  • Herbse on 29/01/2021 - 10:24

    doesn't this expose how the stock market and similar trading schemes like cryptocurrency can be manipulated by people who have an agenda to their benefit.

    I always assumed this is what happens behind closed doors in unlisted forums and chats with crypto, the highs and lows are being controlled by groups of people who have the power to manipulate the numbers by creating positive and negative media manipulation.

  • Ghost47 on 29/01/2021 - 10:28
    +2

    Bought more during the night. Tomorrow will be a spectacle.

    Last night was crazy. The short ladder attacks became so obvious LOL. Wow. This is crazy. So glad I read up on this during the week.

    I always thought WSB was some dodgy sub. Proves me right for judging something before understanding it.

    • macrocephalic on 29/01/2021 - 13:59
      +5

      WSB is a dodgy sub. It's largely full of people with modest portfolios speculating very hard. In this circumstance though they came across a fairly unique situation where a stock was shorted so heavily that they could squeeze it.

  • [Deactivated] on 29/01/2021 - 10:38
    +12

    Interesting reading from Twitter user toxic, given it came well before last nights events:

    "
    Step 0: Citadel pays Robinhood for order flow. Citadel gets to see RH's orders a few milliseconds before they're filled. Citadel may choose to front-run some of those trades.

    Step 1: RH's customers and WallStreetBets start manipulating $GME. This is happening in the open.

    Officially, they're manipulating $GME (and $BB and $KOSS) because these low-value stocks are being very heavily shorted, and if something moves the value of the stock up (like, tens of thousands of retail investors acting in near unison), those short-sellers may be forced to sell to cover their borrowed shares. If most shares are held by retail investors who won't sell, the price will skyrocket (supply/demand) until someone does. The bear hedge funds and such will still have to buy to cover, which may cause a bit of a liquidity crisis for the funds.

    The concept of "Screw the hedge fund vampires who exist only to destroy companies like Gamestop" is a big part of /r/WallStreetBets's messaging. It's a compelling message, and a decent secondary reason for this.

    The primary reason to manipulate markets remains profit, though.

    Step 2: HFTs buy shares ahead of Robinhood users.

    Remember Citadel, the firm who can front-run robinhood trades, and got to see all of that RH data a little early because they paid for flow? Yeah. When do you think they started buying $GME in front of RH traders on momentum?

    Because the volume of shares exchanged suggests that the HFT folks were all over this, all the way to $150. The message on WSB might be "lots of little guys screwing big Wall Street", but the truth is that the HFT robots were screwing everyone, while paying RobinHood a kickback.

    Step 3: A hedge fund becomes insolvent. Today it was Melvin Capital Management. It very likely won't be the last.

    Melvin immediately sells off a portion of itself, because it needs the influx of cash or it will vanish in a poof of smoke, vaporizing ~$15 Billion in the process.

    Step 4: Who's the lead investor, picking up part of a usually successful fund at fire-sale prices?

    Right. Citadel, probably with some of the cash they made by repeatedly profiting in the milliseconds before filling the trades that collapsed this fund.

    Step 5: Citadel still has access to RH order flows, is still allowed to front-run them and/or pocket the spread, and can use that and other information to determine the next over-leveraged fund that's going to get squeezed.

    They might even be able to accelerate the squeeze.

    So, the next time you discount the impact of "4chan with a bloomberg terminal", remember that they are not the only ones who stand to benefit from intentionally screwing exposed short-sellers.

    The professionals are all too happy to amplify the efforts of the amateurs for profit.

    Because if amateurs manipulate the market, uh, truthfully, then nobody loses their license.

    "I (retail investor) bought because I hate Citron & hedge funds, and we're going to screw them for profit. Join us, but do your own due diligence. YOLO!" might just be legal. IANAL.

    If a licensed broker/dealer did this, they'd lose their license, and probably go to jail. Martha Stewart did time for less.

    But Citadel, by paying for order flow and sitting in the middle, gets to legally ride-along, printing money the whole way.

    So, when you ask yourself, "who pays for no-commission trades, and why?" or "what's the harm of RobinHood's business model?", take a look at what happens behind the scenes, in the milliseconds after you press buy, but before you own those shares.

    It's vampires all the way down.

    "

    • Bid Sniper on 29/01/2021 - 10:55

      Makes sense and its known that RH has a paid priority service for HFT.

      What I'm still trying to figure out why Citadel doubled down on their shorts to 250% give this climate. Its become personal for retail investors here, people are really pissed, dont see the price dropping sub $100 USD.

    • whooah1979 on 29/01/2021 - 11:14
      +2

      Step 0: Citadel pays Robinhood for order flow. Citadel gets to see RH's orders a few milliseconds before they're filled. Citadel may choose to front-run some of those trades.

      Citadel acting (trades) on non-public information is unlawful as far the SEC is concerned. Citadel being as dodgy as they're will bank the profits and pay a small fine.
      https://www.sec.gov/news/pressrelease/2017-11.html

    • [Deactivated] on 29/01/2021 - 11:45

      Oh, get this:

      "Payment for order flow wasn’t invented by Robinhood (that honor belongs to Bernie Madoff), "

      Good article confirming Citadel is Robinhood's largest customer.

      https://www.vice.com/en/article/qjpnz5/robinhoods-customers-…

    • Hirolol on 30/01/2021 - 23:45

      Do you think this will put people off using Robin Hood?
      What’s stopping them blocking other buy orders in the future if something similar happens.
      It’s such a load of bs

      • [Deactivated] on 31/01/2021 - 00:33

        RobinHood paid a US$65 million fine in December for screwing over their own users and lack of order flow(mainly to Citadel) disclosure, yet this week they hit Number 1 on the app store. Average users don't seem aware or aren't willing to research.

    • User102430 on 31/01/2021 - 21:35

      Interesting, but not entirely correct.

      The assumption here is that 100% of trades went through Robinhood, with over $20bn value of trades on a top day (exceeding everything else that was traded, including Apple, Tesla, etc), it's impossible that all of it would be cleared by Robinhood, I suspect that they would have done no more than 20% of the total orders, which would not give Citadel any particular advantage….

  • dogboy on 29/01/2021 - 10:54
    +3

    Citadel execs need jail time and the company to be buried. This is cray illegal.

  • mrnacho on 29/01/2021 - 11:14
    +3

    Lol who cares. I like this stock so I'm gonna buy more.

  • itbargainhunter on 29/01/2021 - 11:37
    +6

    This story will not end happy ever after. A crazy bubble has been created and this time it is created by the Mass.

    Some Hedgefund seems to loss on their short orders in the beginning. Other Hedfund can still win it back massively if they can time it right and issue another wave of short orders when the Mass starting to question whether GME's share will still have the energy to keep hitting record high every day. We all know there is nothing to sustain the share price of GME at today's level. If you were the board of GME you might even wanted to sell all stock you possess as you know the company's asset never worth this much.

    And people are starting to question already. This is why you see this optimism widespread now not 3-4 weeks early. It is like a Ponzi/Pyramid scheme and now it needs more than ever hot new money to keep pushing GME price.

    The only way to make more Hedgefund loss is to make them believe they should buy GME now. Only when they take the majority of the overpriced share from the mass and cannot get rid of them the mass can declare a victory. And I don't think it will happen at all.

    In a micro-economics view, some people will win even if they invest in GME now as a short term bet.
    In a macro-economics view, the Mass will lose and GME share price will fall in the mid to long run.

    • weesals on 29/01/2021 - 12:42
      +2

      Correct me if I'm wrong, but I thought the point was that because of the short orders, the hedge funds had to buy back the stock at current market price and take a huge loss on it. From what I've read it sounds like the buy back will be over the next few days.

      But I think you're right that a lot of people will miss the sell window and lose out big time.

      • whooah1979 on 29/01/2021 - 12:48
        +1

        The shorter have to buy back the stock to cover the sell. They can either go OTC or spot. Spot is bad atm because of the WSB bulls and OTC may not have enough to cover the sell.

        The price going up and up is bad because of two things. A) They've buy at a higher price than the sell price. B) They'll get a margin call and possibly liquidated if they don't have enough collateral for the order to say open.

      • itbargainhunter on 29/01/2021 - 16:07
        +2

        Your are right and it is true that the Hedgefund that committed the initial short orders need to settle them in 1 week by buying the overprice GME stock in the market. The said Hedgefund will loss huge amount of money. So one or couple Giants gone, but what's next?

        I mean if you are another Hedgefund manager would you be sitting on the fence and wait for the best moment to place your next short order to capitalize on GME's share price drop? I mean GME is not Tesla or FB and has nothing to substantiate their current share price. A sharp fall is inevitable and other Hedgefund just needs to wait.

        If you think about it, the money they shall make with their later short order is the money people put into pushing GME stock price up now.

    • Telios on 29/01/2021 - 13:00

      Honestly I think its become very dangerous now for a lot of people.

      I know lots are saying they don't care if it goes to zero but as I mentioned in another comment we don't even have an accurate picture of the short positions anymore, couple that with the app devs and hedges disabling trade and the manipulation and pre-post market trades for larger customers (Interactive Brokers essentially shut down trade so their largest short customers could exit), I think people need to be cautious.

      The next publish date for short percentage data isn't until early February. All other data beyond the official figures is either extrapolations or separate algos like S3 data.

      I wish I had premium access to Fintel to see the percentage ownership movements.

  • VerticallyIntegrated on 29/01/2021 - 11:57
    +3

    https://mobile.twitter.com/avalonpenrose/status/135449668393…

    Hilarious layman’s view of what is happening.

    • browser on 29/01/2021 - 12:12

      "Online reading club" :D

  • spedohero on 29/01/2021 - 12:49

    Is it to screw robinhood as well since they are selling the data to big investment firms?

    • [Deactivated] on 29/01/2021 - 12:53
      +4

      I'd be surprised if RH doesn't get DDOSed over this. They did worse than that by restricting buys while their major client shorted the stock.

      • spedohero on 29/01/2021 - 13:03

        I guess nothing is free in this world. I am not expert in stock trading but i reckon this is the ganging up of retail investors to screw big investment firms. Of course, some of these retailer investors are bloody loaded.

      • macrocephalic on 29/01/2021 - 14:02
        +2

        I don't know about DDOSing, but they're going to suffer such a bad reputation that they may go bankrupt. It would likely make more sense for them to declare bankruptcy and start over with a new brand.

      • Skinnerr on 30/01/2021 - 04:06
        +2

        RH is finished. Only a fool would use them ever again.

  • Ononono on 29/01/2021 - 13:36
    +2

    If you don't really understand what's going on (like me), here's a good video that explains the whole thing
    https://www.youtube.com/watch?v=8YrnTbzuOWM

    • [Deactivated] on 29/01/2021 - 14:42
      +3

      the whole thing? ;) …this is developing by the US business hour! Last night was a curveball. Tonight will be crazy.

  • RocketSwitch on 29/01/2021 - 14:10

    I feel like buying more stonks, NOK and AMC anyone lol? $2K on each.

    • Trying2SaveABuck on 29/01/2021 - 14:56

      NOK

      Is actually a good company unlike GME it has a future

      • RocketSwitch on 29/01/2021 - 16:54

        Yeah, I believe NOK is a good one, cheap and has potential.

      • [Deactivated] on 30/01/2021 - 20:56

        Gamestop actually has a chance of turning around, and the fact that a large percentage (>10%) of the company is held by RC Ventures, who appointed three board members with a specialty in turning around businesses and e-commerce strategy that turned around a pet supply company called Chewy from nothing to a massive behemoth, seems to indicate that there are some in the business world who think that it's not a dead duck at all. I've even seen one analyst suggest that if they can achieve it, fair market value could be somewhere in the $10bn range (remembering that Gamestop has a massive global footprint including Gamestop itself, EB Games, ThinkGeek, and Zing) - though again that's a big "if".

    • Kiro on 29/01/2021 - 18:29

      Gamestonks

  • Dr Cheapo on 29/01/2021 - 16:39
    +3

    Buy doge
    Gme old news

    • Trying2SaveABuck on 29/01/2021 - 17:21
      +5

      Dogecoin to the moon

      lets make this the new Bitcoin!!!

  • Kiro on 29/01/2021 - 18:31

    Well this little incident has made the headlines….. Given just how small the world is with tech I'm sure that this shorting isn't going to be a good thing to do anymore

  • down-under on 29/01/2021 - 20:19

    I'm going to donate 1 share's worth of money tomorrow morning.

  • [Deactivated] on 29/01/2021 - 20:41

    Premarket is up 100% to US$390. If you are awake 1:30am tonight I would check google for GME news, then from tomorrow morning until lunchtime watch the floorshow of the crucial afterhours trading period. This has the potential to be a historic spectator sport.

  • Meg4 on 29/01/2021 - 21:15
    +1

    Not too different from EB games? I mean they own them so…

  • DASHCAM NOW DUDE on 29/01/2021 - 21:24

    I put my 55 inch OLED money into this. What's next? (I want a 77 inch OLED)

  • lnq on 29/01/2021 - 21:24

    Elon Musk changes his Twitter bio to Bitcoin
    https://www.theblockcrypto.com/linked/93074/elon-musk-twitte…

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